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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Is Arik slipping into oblivion?

Government is at a crossroads on what to do with Arik Air, having injected N1.5 billion since it took over the carrier. It’s time to take far reaching decision on the airline’s future, writes WOLE SHADARE   Arik on life support For those who don’t know, Arik Air is currently dying a slow death and here are some of the signs. The airline has just five aircraft from the over 29 it acquired when it made a debut 10 years ago. It purportedly came with a difference with state-of-the-art aircraft,…

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Bida Poly students bemoan hike in hostel rent

Given the current economic recession facing the country, students of the Federal Polytechnic, Bida have lamented the hike in rent of houses within the polytechnic communities. The students, who expressed their dismay over the increment in house rent, said that the unexpected increase in the house rents in the polytechnic community was arbitrary. While saying that it had made life more difficult for students living in rented apartments off campus, a National Diploma (ND) II student of the Department of Mass Communication, Abdullateef Akanbi complained that “most landlords or house…

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NMRC, developers laud Nigeria’s House Price Index

The Nigerian Mortgage Refinance Company (NMRC) and developers of Lekki Gardens have thrown their weight behind the takeoff of Roland Igbinoba House Price Index (RI), the first in the country. Executive Director of NMRC, Mr.Kehinde Ogundimu, who represented his managing director, gave insight into the usefulness of a house price index in Lagos. He pointed out that absence of useful data had been a major challenge to government, home seekers and investors in the drive to make decision about housing market. He lauded President of Pison Housing Company, Mr Roland…

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$100m oilfield chemical investments at risk

The over $100 million investments in oilfield chemical sub-sector of Nigeria’s oil and gas industry is on the brink of collapse, New Telegraph has learnt. Investigations revealed that stakeholders in sub-sector are rising against this major threat to business exasperated by longerthan- necessary tendering cycle in Nigeria, which is six times longer than that of its rival oil producer in Africa, Angola. Former President, Nigerian Society of Chemical Engineers, Dr. John Erinne, has also confirmed this challenge. He told this newspaper on the side-line of Second National Oil and Gas…

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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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