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BUSINESS

Buhari Inaugurates N30bn Olam Poultry, Feed Mill Project Started By El-Rufai In 2016

Buhari Inaugurates N30bn Olam Poultry, Feed Mill Project Started By El-Rufai In 2016

BUSINESS, NEWS
The N30 billion Integrated Feed Mill, Hatchery and Breeder Farm in Kaduna which Governor Nasiru El-Rufai on April 10, 2016 laid its foundation has been inaugurated by President Muhammadu Buhari.  The project is adjudged the biggest of its kind in Sub-Sahara Africa. The project investors, Middle East Olam International Business Head, Mr. Vinod Kumar Mishra, had earlier said that when inaugurated, the multi-million dollar investment would utilise around 180,000 tonnes of corn and 75,000 tonnes of soya beans for its feed production. Mishra said the company had the capacity to produce 360,000 tonnes of animal feeds every year. He said the company would also produce 1.6 million day-old-chick every week. He said that it would boost the production of maize and soybeans as well
Delta Govt Sealed 12 Companies Over Tax Evasion 

Delta Govt Sealed 12 Companies Over Tax Evasion 

BUSINESS
The Delta State Government has sealed 12 Companies, hotels and schools in Warri metropolis over alleged tax liabilities.  Officials of the state Board of Internal Revenue on Friday carried out the operation which went smoothly, NAN is reporting. According to Mr Joel Ogege, DBIR’s Director (Enforcement and Compliance), the companies were shut over accumulated Personal Income Tax liabilities totaling more than N10 million. Ogege, who led the team, said that the tax liabilities ranged from between N500,000 to N3 million. “We were left with no option after the defaulters ignored several notices, including Court orders,” he said. News Agency of Nigeria report that the exercise was smooth except in one company where his team encountered resistance. The official said that it was unlaw
EXPOSED: How Okowa’s Aides, Steal Millions Of Naira From Ailing Delta Line; + How Governor’s Wife Wreck Establishment

EXPOSED: How Okowa’s Aides, Steal Millions Of Naira From Ailing Delta Line; + How Governor’s Wife Wreck Establishment

BUSINESS, NEWS
Investigations have revealed how ailing Delta Line Transport Services Limited, operators of Delta Line Buses was mismanaged, looted and wreck by administration of Governor Ifeanyi Okowa of Delta state. BigPen Online can authoritatively report that the Governor's wife, Mrs Edith, his Senior Special Assistant (SSA), on Transport, Charles Uwaje, and the Commissioner for Transport, Mr. Vincent Uduaghan are neck deep in the alleged fraud which made the transport company now comatose. Dependable sources told this medium that the Governor's wife apparently institutionalise corruption, and fraud in the transport company through Vincent Uduaghan and Charles Uwaje who allegedly stole the company blind unhindered. As if it was their private business entity, the Governor's wife before the...
APC Says Partial Sale Of Delta Line Was An “Exclusive Deal”, Warns GIG Motors Against Putting Their Coy Into Legal Jeopardy

APC Says Partial Sale Of Delta Line Was An “Exclusive Deal”, Warns GIG Motors Against Putting Their Coy Into Legal Jeopardy

BUSINESS, NEWS
The Delta State Chapter of the All Progressives Congress (APC) has described the sale of 60 percent equity of Delta Transport Services Limited (DELTA LINE) to GIG Transport Development Company Limited (popularly known and operating in the name of God-Is-Good Motors) for alleged paltry sum of N161 million as an “exclusive deal” against the best interest of Deltans. Warning the buyer of the equity shares against put their company into legal jeopardy, Acting State Publicity Secretary of the party, Engr. Leonard Obibi in a statement obtained by BigPen Online on Friday, called on Governor Ifeanyi Okowa to immediately rescind the planned transfer of the control of the company to God-Is-Good Motors. Besides, APC advised GIG Motors to dissociate their company from the alleged questionabl
Billionaire Mogul and Top PDP Financier, Chief Emeka Offor Goes Broke, Shuts Down Company

Billionaire Mogul and Top PDP Financier, Chief Emeka Offor Goes Broke, Shuts Down Company

BUSINESS, NEWS
A new exclusive investigative report has revealed that one of Nigeria's multi-billionaire business mogul, Chief Emeka Offor who is a major financier of the PDP has gone broke.  The fall of the Peoples Democratic Party at the centre appears to have devastated the fortunes of several politically-connected businessmen who, as once suggested by former President Olusegun Obasanjo, mostly relied on the then-ruling party for government contracts. One of such billionaire businessmen, Emeka Offor, has indicated that he is broke, just over two years after the PDP left power. In the build-up to the 2003 general elections, Mr. Offor was reported to have donated N200 million to the Obasanjo/Atiku presidential re-election campaign. During the heat of the Obasanjo-Atiku feud in 2006,
Okowa Seeks Quick Passage Of PIB

Okowa Seeks Quick Passage Of PIB

BUSINESS
To boost investors confidence in the oil and gas sector, Delta State Governor, Senator Dr. Ifeanyi Okowa has urged the National Assembly to speed up the process of passing the Petroleum Industry Bill. Governor Okowa made the call on Tuesday when he received on courtesy call, Nigerian Ambassador to the Sociolist Republic of Vietnam, Ambassador Francis Efeduma. According to the Governor, "we will continue to call on the National Assembly to speed up the issues concerning the Petroleum Industry Bill because, it is important for further development, particularly in the gas sector. "The gas sector has a lot of potential particularly in the petro-chemical industry and it is our hope that we will look very strongly in this direction." "I believe that with a well spelt out rules of...
Delta Govt Reacts To BigPen Online Report On Alleged Controversial N161m Delta Line Equity Shares Deal

Delta Govt Reacts To BigPen Online Report On Alleged Controversial N161m Delta Line Equity Shares Deal

BUSINESS, NEWS
Delta State Government has reacted to earlier report by BigPen Online that the state owned Delta Line Transport Services Limited was being sold to a private firm in a controversial amount. The State government though was silent about the amount the transport company was being given out, it confirmed that government was in the process of privatizing the company for greater efficiency, improved profitability. Against report that the Governor Ifeanyi Okowa-led administration had sold 70 percent equity shares to God is Good Motors, the Governor through his Chief Press Secretary, Mr. Ehiedu Charles Aniagwu said that the state government only divested 60 percent of its equity shares to ensure greater efficiency and improved profitability. In a statement issued after a press conferen...
BREAKING: NNPC Redeploys 55 Top Officials In Major Shake-up

BREAKING: NNPC Redeploys 55 Top Officials In Major Shake-up

BUSINESS, NEWS
Nigerian National Petroleum Corporation, NNPC has redeployed top officials of the corporation as part of its ongoing restructuring. The Corporation also appointed new officers into various positions to fill vacate post left due to retirement. In the exercise which was made public on Tuesday, a total of 55 top management staff were affected. Group Managing Director of the Corporation, Dr. Maikanti Baru, told NNPC staff shortly before the announcement was made public that the new appointments would not only help to position the Corporation for the challenges ahead but would help fill the gaps created due to statutory retirements of staff. Under the new arrangement, Roland Ewubare, formerly MD of the Integrated Data Services Limited, IDSL moves to the National Petroleum Invest...
Developing: Governor Okowa Sells Delta Line Company For N161m, Fingered In Buy-off

Developing: Governor Okowa Sells Delta Line Company For N161m, Fingered In Buy-off

BUSINESS, NEWS
Delta State Governor, Senator Dr Ifeanyi Okowa has sold Delta state Transport Services Limited to a private firm allegedly linked to him. The outfit has been allegedly sold at the cost of N161million naira against the N2billion bid by the Nigerian Labour Congress, BigPen Online has gathered. The company was sold to the Ajaere family - owners and managers of one of the most successful passenger carrier companies in Nigeria, GIGM.com, (God is Good Motors). God is Good Motors, currently being run by Mrs Stella Ajaere alongside Chidi, wife and eldest son respectively of the late businessman Deacon Edwin Ajaere who passed away in 2009, funded Okowa's election in 2015 by provision of buses for his campaign. GIG Motors since then has been enjoying payback patronage from Okowa since in...
Dangote Signs $450million Jumbo Sugar Production MoU With Niger State

Dangote Signs $450million Jumbo Sugar Production MoU With Niger State

BUSINESS
In another bold move for self-sufficiency in sugar production through the government’s backward integration policy, the Pan African Conglomerate, Dangote Group on Wednesday in Minna, Niger State signed a Memorandum of Understanding (MoU) with the State Government for the establishment of a jumbo $450million state-of–art and fully integrated sugar complex. On completion, according to the President of the Group Aliko Dangote, the project will generate over 15,000 jobs in the state and bring about a complete economic turn-around for the state. The $450million pact which was signed in the government house will see the company producing raw sugarcane on 16,000 hectares of land at Lavun Local Government through an out-grower scheme. The company, which is currentl