Local oil firms walking a tight rope

Indigenous firms are the worst-hit by myriads of challenges bedeviling the oil and gas industry. ADEOLA YUSUF reports on how many of them are running into bankruptcy     Aiteo, an indigenous oil firm, made the headlines penultimate week; basking in the euphoria of its new status as the biggest Nigerian- owned oil firm in terms of production, hitherto known by many as the petroleum product trading firm, it announced the production of the largest share of the 313,602 barrels per day output from indigenous companies. The firm’s management cannot…

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Zenith B’ball League: First Bank, Dolphins win again as 1st phase ends

The first phase of the National Women’s Basketball League sponsored by Zenith Bank ended on Monday in Abuja with favorites First Bank and Dolphins maintaining winning streak. A total of 18 teams from various parts of the country took part in the competition which started on April 10 at the Package B Sports Hall of the National Stadium in Abuja. However, three top contenders maintained an unbeaten run so far in the league series which is expected to continue in Kaduna from May 1. First Bank, Dolphins and Customs after…

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Opponents to challenge Turkey ‘Yes’ vote

  Turkey’s main opposition party has said it will challenge the country’s referendum result after the president won a vote to expand his powers. The Republican People’s Party (CHP) has questioned the legitimacy of the close result, citing irregularities in the electoral process. President Recep Tayyip Erdogan’s push for an executive presidency succeeded with just over 51% of the vote. The win was met with both celebrations and protests across Turkey. The CHP is refusing to accept the “Yes” victory and is demanding a recount of 60% of the votes,…

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Chibok girls, the mirror in our faces

As we remember the girls captured in Chibok three years ago, we must remember that they constitute only a fraction of the victims of the Boko Haram insurgency. I would urge Bring Back Our Girls (BBOG), while you keep this issue of Chibok on the table, to broaden your message to cover all girls and boys abducted by Boko Haram, and also draw attention to the condition of girls and women in our society in general. To give you an idea of the extent of this problem, as at today,…

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Liberty’s N3.72bn stake for UNIC nears completion

                     …as NSE delists underwriter   The move by South Africa’s Liberty Holdings to acquire 75 per cent majority equity stake in UNIC Insurance Plc for 160 million Rands (N3.72 billion) is gaining momentum as the Nigeria Stock Exchange (NSE) has delisted the ailing insurance firm. Liberty Holdings is an investment holding company with existing investment interest in the Nigerian market through Total Health Trust. As part of the arrangement, UNIC was last week delisted and replaced by UNIC Diversified Holdings (UDH) Plc at the NSE as the insurance company…

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