Author Archives: admin

European Museums Plan Summit on Return of Benin Bronzes to Nigeria

European Museums Plan Summit on Return of Benin Bronzes to Nigeria

A bronze sculpture of a cockerel that adorned a Cambridge University dining room is among a huge haul of looted antiquities that may now be returned to Nigeria and neighbouring Benin Republic soon. The British Museum will take part in a European summit to discuss the return of art seized from the Benin Kingdom, now part

FG Spends N6.2bn to Feed Pupils in 14 States

The federal government yesterday said it had spent over N6.2 billion to feed about 3,000,000 pupils under its National Homegrown School Feeding Programme in pursuit of its Social Investment Programme (SIP). A statement by acting President Yemi Osinbajo’s spokesman, Mr. Laolu Akande, said a total of N6, 204,912,889 had been paid out to 14 states

Jungle Justice: We Have 30 Suspects in Custody, says Owoseni

The Lagos State Police Command on Monday said it had arrested 30 suspects for carrying out alleged jungle justice on the suspects arrested at the various kidnappers’ den in the state. The News Agency of Nigeria (NAN) reports that various sites marked as kidnappers’ den were discovered at Ajala, along the Lagos/Abeokuta Expressway on Aug.

Sultan of Sokoto Calls for Devolution of Economy

The Sultan of Sokoto, Alhaji Sa’ad Abubakar made the call at the Niger State Investment Submit in Minna. The Sultan of Sokoto, Alhaji Sa’ad Abubakar, on Monday called on Nigerians to focus on devolution of economy rather than restructuring the country. Abubakar made the call at the Niger State Investment Submit in Minna. The summit

Will Oil Markets Rebalance Before the OPEC Deal Expires?

The oil market is still on track to rebalance, although the pace is “stubborn” and will still take some time, the IEA said in a new report. Market sentiment has been fickle throughout summer, and despite the recent plateauing of oil prices, the IEA reassured everyone in its new monthly report that things are still

Oil Glut Endures As OPEC Confirms Higher Output

OPEC confirmed reports that its crude oil production increase last month, reporting a daily rate of 32.869 million barrels, up by 172,600 bpd. Global commercial oil stocks in the OECD block stood at 3.033 million barrels, still above the five-year average by 252,000 barrels. Libya, Nigeria, and Saudi Arabia were the main drivers behind the

Brazil Plans for $17 Billion in New Investments by 2017 End

Brazil’s state-owned Petrobras forecasts $17 billion in investments and $8 billion in asset liquidation over the course of 2017, according to a new corporate financial presentation posted online. The presentation, which included results for the second quarter of 2017, planned for the refinance of $13 billion in debt, while creating $27 billion in new revenues.

Brazil’s Pre-Salt Extraction Costs Fall To $8 Per Barrel

Not too long ago Brazilian state oil company Petrobras was the most indebted oil & gas company in the world. The long-suffering company has faced dire mismanagement while being weighed down by allegations of involvement in Brazil’s widespread corruption. But that’s all changing. Despite being a subject of the massive Lava Jato investigation, in which