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Folorunso Alakija’s Oil Block: A Model of Nigerian Elite Racketeering? By Odion OmonfomanPremium Times February 27, 2018 Folorunso Alakija’s Oil Block: A Model of Nigerian Elite Racketeering?By Odion Omonfoman

This article is in response to the twitter posts by celebrated Nigerian journalist, Oluwakayode Olumide Ogundamisi on the above subject. In summary, Mr. Ogundamisi accuses Mrs. Folorunso Alakija, reported as Africa’s richest woman, of deceit in terms of her story on how she came about her oil block, in which the famous Agbami field is located. He accuses Mrs. Alakija...

PRESIDENT BUHARI SIGNS EXECUTIVE ORDER TO IMPROVE LOCAL CONTENT IN SCIENCE, ENGINEERING AND TECHNOLOGY PROCUREMENT

President Muhammadu Buhari Monday in Abuja signed Executive Order 5 to improve local content in public procurement with science, engineering and technology components. The Executive Order is expected to promote the application of science, technology and innovation towards achieving the nation’s development goals across all sectors of the economy. The President, pursuant to the authority vested in him by the Constitution,...

A Lion in the North Sea: The Battle for Chevron Netherlands By Paddy Adenuga

It was October 2013, two years had passed since I had left the family business in Lagos, Nigeria and moved to London, England to start my own oil trading company. My time in the family business, as a director in the telecoms division and upstream oil & gas company was challenging to say the least but engaging and ultimately...

Okorocha constructing bridges without design – COREN

Bridges currently being built by the Imo State government are without plan and input from professional engineers, the president of the Council for the Regulation of Engineering in Nigeria, COREN, Kashim Ali, has said. Engr. Ali, while addressing some senators on Tuesday, said several efforts by the association to call the state government to order had failed. “If there is any...

Ogun flyover, right of way stall Lagos- Ibadan standard gauge tracks

The formal laying of tracks of the N485 billion Lagos- Ibadan standard gauge rail is being stalled by right of way, the Minister of Transportation, Rotimi Amaechi, disclosed yesterday. Among the challenges stalling the construction work is the ongoing construction of a flyover bridge at Ijoko, Ogun State. The snag, it was gathered, is the height of the flyover bridge which...

Etisalat Nigeria taken over by consortium of Nigerian Banks

One of Nigeria’s telecommunication companies, Etisalat has now been taken over by ten major Nigerian lenders. The lenders include, Zenith Bank, GT Bank, First Bank, UBA, Fidelity Bank, Access Bank, Ecobank, FCMB, Stanbic IBTC Bank and Union Bank. The take-over came as a result of a futile effort by Emerging Markets Telecommunications Services, EMTS, promoted by-one time Chairman, United Bank for...

Dangote and Flour Mills Bail out Nigeria, as Apapa Road finally Gets Deserved Attention for Reconstruction

After many years of hardship and pains experienced by Apapa  Road users, the FG has finally announced the plan for reconstruction of the Road and handover the Road to the Sponsors of the project after the official signing of the MoU.  The Project worth N4.34bn is jointly sponsored by Dangote, Flour Mills companies and Federal Government. A section of the Apapa...

Engr Otis Anyajeji commends DICON as he harps on Local Content in Engineering Projects

The President, Nigerian Society of Engineers (NSE), Engr Otis Anyaeji has expressed satisfaction with the result oriented research activities and reverse engineering presently going on under the leadership of the current Director General, Defence Industries Corporation of Nigeria (DICON), Maj Gen Bamidele Ogunkale who is also a member of NSE.Speaking during a courtesy visit to the Corporation’s headquarters in...

Southfield Petroleum set to begin development of $250m gas project

Indigenous oil and gas company, Southfield Petroleum Limited has commenced the development of its $250Million flagship Utorogu project, BusinessDay reports.On 16th November 2016, Southfield Petroleum signed a turnkey $198million Equipment, Procurement and Construction (EPC) contract to develop a 250 MMScfd gas processing facility with China Machinery Engineering Corporation (CMEC).Utorogu gas field is expected to be operational by Q2 2018...

Engineers ask FG for roles in policy formulation, infrastructure development

The President of the Nigerian Society of Engineers, Engr. Otis Anyaeji, has requested the federal government to partner Nigerian Engineers on the crafting of policies that deal with technical matters and the development of infrastructure. Anyaeji made the demand recently, when he led a team of Senior Engineers on  a visit to the Minister of Power, Works and Housing,...