In a significant development for Nigeria’s space sector, President Bola Tinubu has approved N20 billion as take-off funding for the National Space Research and Development Agency (NASRDA) to implement its space regulation and licensing mandate, a function that has remained dormant since the agency’s establishment in 1999. Dr. Matthew Adepoju, Director-General of NASRDA, revealed this
American banking powerhouse JP Morgan is making strategic moves to transform its Lagos representative office into a fully operational business branch, marking a significant vote of confidence in Nigeria’s financial landscape. According to exclusive reporting by Africa Intelligence, the global banking giant currently headed in Nigeria by financial expert Dapo Olagunju intends to submit an
A potentially disruptive crisis is unfolding in Nigeria’s oil-rich Bayelsa State as host communities have issued a stern 14-day ultimatum to NNPC Exploration & Production Limited (NEPL), threatening to completely halt oil production at Oil Mining Leases (OMLs) 86 and 88 over security contract controversies. The communities, operating under the KEFFES Host Communities Development Trust,
The Nigeria Extractive Industries Transparency Initiative (NEITI) has strongly urged Mr. Bayo Ojulari, the newly appointed Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), to make transparency and corporate governance the cornerstone of his leadership at the national oil company. In a congratulatory message following President Bola Tinubu’s Wednesday announcement of
A lawsuit seeking to halt the transfer of Shell Petroleum Development Company Limited’s mining licence to Renaissance African Energy Company has been filed at the Federal High Court in Lagos by the Incorporated Trustees of Human Environmental Development Agenda.The legal action, which names Shell, Renaissance, the Federal Republic of Nigeria and four other parties as
The Nigeria Economic Summit Group (NESG) has cautioned that the Federal Government could face significant revenue shortfalls if it does not proceed with a planned increase in the Value-Added Tax (VAT) rate as part of ongoing tax reforms Speaking at an interactive media session in Abuja over the weekend, the Chief Executive Officer of NESG,
The consulting firm handling the Abia State Airport project, Craneburg Construction Company, has assured that skilled and unskilled workers from the host community in Nsulu, Isiala Ngwa North Local Government Area, will be actively engaged in the execution of the project. Craneburg’s project manager, Seba El-Nemer, made this commitment on Monday in Umuahia, following the
The Federal Government has issued a stern warning to oil block owners who have failed to develop their assets, stating that their licences will be revoked if they remain dormant. The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, made this declaration at a Cross Industry Group meeting in Florence, Italy, organised by
Nigerian airline Green Africa has acquired its first-ever owned aircraft, marking a major milestone for the domestic carrier as it navigates operational challenges. The newly acquired aircraft, an ATR 72-500 with the registration 5N-GAB, is expected to commence operations once all necessary regulatory approvals are secured. Temporary Suspension Due to Lessor IssuesThe acquisition comes just
Oyo State Governor, Engr. Seyi Makinde, has announced plans to remodel the Alesinloye Market in Ibadan following the recent fire outbreak that ravaged sections of the market and destroyed goods worth millions of naira. During an on-site inspection of the affected area on Tuesday, Makinde expressed his disappointment that, despite the presence of a fire
