Bassey

Bassey Udo, Business & Economy Editor, PREMIUM TIMES, is a 2005 graduate of Communication Arts, University of Uyo & holder of the 1999 Masters of International Law & Diplomacy degree, University of Lagos. Udo, a serial award winning investigative finance, energy, oil, gas & extractive industries reporter, was the Co-winners of the 2013 Wole Soyinka Award for Investigative Journalism; a runner –up certificate for the 2014 edition & special recognition for impact reporting in the 2015 edition of the award. He is Thomson Reuters Foundation ‘Wealth of Nations’ Award recipient for Business Reporting & Distinguished Alumnus, U.S. International Visitors Leadership Programme (IVLP) 2017.

Posts by Bassey:

Sanusi lamido sanusi

Details of CBN’s ‘N900million’ Dealing Room contract shrouded in secrecy

The Nigeria Central Bank would not disclose the approved contract sum. A contract awarded by the Central Bank of Nigeria for the construction of a 'Dealing Room’ has raised concerns over the financial management and transparency of the Lamido Sanusi-led central bank. Analysts say the Central Bank’s decision to approve…

NEXIM keen on developing borderless ECOWAS markets- MD

Nigerian Export Import Bank, NEXIM, says it is working hard to realise its dream of developing an Economic Community of West African States, ECOWAS, whose markets operate seamless commercial exchanges devoid of trade barriers among members. The Managing Director/ Chief Executive Officer of the Bank, Roberts Orya, said on Thursday…

Amnesty arms Niger Delta

Next phase of militancy will be tough, Niger Delta youth warns Nigeria, oil companies

The youth want full incorporation into the oil and gas industry. Niger Delta youth on Thursday warned Nigerian government and international oil and gas companies, IOCs, to expect a tough battle in the emerging phase of militancy in the region if they are not prepared to accommodate its former members…

Non-passage of PIB delays billion dollars investments in Nigeria, oil companies say

Oil companies say the delay in passing the PIB is slowing down the industry. International Oil Companies, IOCs, on Wednesday said the continued delay in passing the Petroleum Industry Bill, PIB, into law is creating uncertainties. The uncertainties delay the take-off of fresh projects worth several billion of dollars that…

crude oil theft

Sponsors of crude oil theft are in ‘high places’, go after them, Shell tells Jonathan

Instead of gallivanting to European and other foreign countries to seek for help on tackling crude oil theft, the Goodluck Jonathan administration should move against “principalities and powers in high places,” who are the sponsors of crude oil theft, the Managing Director of Shell Petroleum Development Company, SPDC, Mutiu Sunmonu,…

Jonathan “very worried” about crude oil theft in Niger Delta – Alison-Madueke

Petroleum Minister says efforts to recover funds from illegal bunkering and crude oil theft have commenced. President Goodluck Jonathan is so worried about crude oil theft in the Niger Delta and the billions of naira Nigeria loses by the trade of such crude that he is already seeking foreign assistance…

This is FEC agenda for Wednesday, Feb. 20

FEC members will converge for their weekly meeting on Wednesday. President Goodluck Jonathan will on Wednesday present a memo to the Executive Council of the Federation, FEC, meeting on curbing the growing incidents of abuse of traffic laws including the use of sirens, flasher lights and ambulances in the country.…

Nigeria moves to recover billions of dollars of stolen crude proceeds

The Federal Government said on Tuesday that it has commenced efforts to recover huge oil revenues laundered abroad by companies involved in the growing incidents of illegal oil bunkering and crude theft in the Niger Delta region. The Minister of Petroleum Resources, Diezani Alison-Madueke said on Tuesday at the opening…

BFIG slams UC RUSAL with N2.8 billion suit; accuses BPE of frustrating ALSCON takeover

A Nigerian agency, BPE, is accused of not obeying a Supreme Court ruling judiciously. (more…)

BFIG commences process to take over ALSCON

Controversy exists over the implementation of a ruling by Nigeria’s Supreme Court. BFIGroup Corporation, the Nigerian-American consortium that was recently reinstated by the Supreme Court as the preferred bidder for the Aluminium Smelter Company of Nigeria, ALSCON, Ikot Abasi, Akwa Ibom State, on Thursday said it has commenced the process…

Update: Sack Maina now, Nigerian Senate tells Jonathan

The Senate on Wednesday adopted a motion demanding the immediate sack of the Chairman of the Pension Reforms Task Team, Abdulrasheed Maina, for gross misconduct. After more than one hour deliberation on a motion sponsored by its majority leader, Victor Ndoma-Egba, the Senate also asked the Federal Government not to accord Mr. Maina…

If Jonathan signs Nigeria’s 2013 budget now, it’ll be illegal- Falana

Should President Goodluck Jonathan sign the 2013 Appropriation Bill now, as submitted to him by the National Assembly, he would be violating the constitution and committing illegality. This was disclosed by radical lawyer and human rights activist, Femi Falana, who quoted the Nigerian constitution to back his claims. According to…

Adams Oshiomhole

How Nigeria police staged suspects in Oshiomhole’s aide’s murder

New documents show how SSS, state prosecutor tore police probe of Oshiomhole’s aide’s murder apart. (more…)

President Goodluck Jonathan

Hope dims on Jonathan’s assent to 2013 budget

The stalemate between the Nigerian executive and legislature over the 2013 budget deepens (more…)

BPE’s letter to BFIG defies Supreme Court order on ALSCON

The directive by the Nigerian Supreme Court is not being adhered to strictly. (more…)

CBN warns banks against excessive accumulation of risks to boost asset profile

The Central Bank of Nigeria urges banks to establish proper management process in their operations. (more…)

Abuja administration, Labour partner private investors to build recycling plant

The project will generate jobs, the executors say. (more…)

NNPC aircraft overshoots runway in Warri

The  NNPC aircraft happened in Warri, Delta State. The management of the Nigerian National Petroleum Corporation, NNPC, on Wednesday reported that one of its aircrafts with registration number 5NNOC overshot the runway on landing at Osubi Airport in Warri, Delta State. In a statement, the Acting Group General Manager, Tumini Green,…

Ministers, unaware of FEC meeting cancellation, arrive in Aso Rock

The communication gap at the topmost level of the Jonathan administration was revealed on Wednesday before the scheduled weekly meeting of the Executive Council of the Federation, FEC. Some ministers arrived at the executive chambers at the Presidential Villa at about 10 a.m. for the meeting, only to be told…

President Goodluck Jonathan

FEC meeting shelved due to Jonathan’s trip to U.K., France

The weekly meeting of the Executive Council of the Federation, FEC, scheduled to hold on Wednesday in Abuja, the Nigerian capital, has been shelved. A source at the presidential villa indicated that the meeting had to be put off following the absence of President Goodluck Jonathan who travelled outside the…

Diezani Alison-Madueke’s claim ‘ridiculous,’ NNPC culpable in N726bn debt, others- NEITI

 NEITI insists that the NNPC owes Nigeria N726 billion, among others (more…)

CAN warns El-Rufai again over controversial ‘Jesus’ joke retweet

The Christian Association of Nigeria chastises former Abuja minister over ‘Jesus Christ’ tweet (more…)

Nigeria, ECOWAS’ largest donor, continually outsmarted by smaller West-African countries

[caption id="attachment_118615" align="alignleft" width="260"] Kadré Désiré Ouedraogo, the president of the ECOWAS commission[/caption] Kadré Désiré Ouedraogo, the president of the ECOWAS commission, doesn’t come away as extravagant, with his modest suits, chauffeured-cars, and few guards. But in Abuja, where the West African regional body he heads is headquartered, Mr. Ouedraogo…

Appeal against ruling validating Governor Akpabio’s election begins February 27

The Court of Appeal will hear the case on February 27. (more…)

African Bank approves $100mn loan for Nigeria to boost fertilizer production

Another loan to help meet MDG goals (more…)