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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Angst in APC over ‘marginalisation’

The bottled-up anger in the All Progressives Congress (APC) is gradually being let out with series of protests by members who feel marginalised, writes ONYEKACHI EZE   There is no doubt that all is not well in the ruling All Progressives Congress (APC). Events in the last few weeks confirmed this. First, is the news making the rounds that the party’s planned April 29 midterm national convention might not hold due to lack of funds. In fact, many people had expected this to happen because the APC leadership has cried…

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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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Shall I tell this to the president?

They already own everything; they own our politics, our economy and our money. Even the CBN is being privatised and controlled by this cartel. The same cartel now wants to control the water we drink and the air we breathe to complete their vicious cycle of enslaving and subjugating us all. They don’t care about the future but only about the dark interest they represent. Unrestrained capitalism is evil and should be challenged. The media knows about this but will never write about it. Our elite knows about this but…

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Umahi reconciles with estranged major political ally

Govenor David Umahi of Ebonyi on Sunday evening reconciled with his estranged major political ally in the state, Chief Julius Amah-Orji, popularly known as ‘Ochiliozuo’ (He who caters for the people en masse). The News Agency of Nigeria (NAN) reports that the relationship between the duo cracked when Umahi appointed Amah-Oji’s main political foe in Afikpo South Local Government Area, Chief Eni Uduma, as the Caretaker chairman of the council. The final nail was driven into the coffin when the governor ensured that Uduma emerged as the Peoples Democratic Party…

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