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Reforms in Mining Sector Yielding Results – Alake Reforms in Mining Sector Yielding Results – Alake
Economy5 days ago

Reforms in Mining Sector Yielding Results – Alake

The Minister of Solid Minerals Development, Dr. Dele Alake has revealed that Nigeria has started seeing positive results from its...
Telecoms Mast Enumeration Telecoms Mast Enumeration
Telecoms6 days ago

Lagos State Commences 3-month Telecoms Mast Enumeration Exercise Today
SIMs Not Linked to NIN SIMs Not Linked to NIN
Telecoms3 weeks ago

BREAKING: NCC Approves 50% Tariff Hike for Telcos
Equities: Sell-Pressure Wipes N1.45 trillion from Investors' Wallets Equities: Sell-Pressure Wipes N1.45 trillion from Investors' Wallets
Capital Market3 weeks ago

Equity Investors Lose N1.45 trillion to Sell Pressure

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Skills Acquisition Programme
General7 months ago

Skills Acquisition Programme: NASENI Trains Osun Youths on Modern Shoemaking and Tailoring

The National Agency for Science and Engineering Infrastructure (NASENI), has launched a skill acquisition training programme on modern shoemaking and...
IMF Suggests Policies to Avert Food Crisis in Africa
Commodities News & Agribusiness2 years ago

IMF Suggests Policies to Avert Food Crisis in Africa
January Inflation
Economy2 years ago

Concerns Mount as Nigeria’s inflation surges to 17-year high in August
See Top Trending BBNaija Housemates, According to Google
Showbiz2 years ago

See Top Trending BBNaija Housemates, According to Google
Omobayo Azeez Wins Excellence Award in ICT Reporting at NMCA
Technology2 years ago

Omobayo Azeez Wins Excellence Award in ICT Reporting at NMCA
AVEVA Launches 2023 Operations Control Software for Industrial Enterprises • To Strengthen Workforce Efficiency AVEVA, a global leader in industrial software, driving digital transformation and sustainability, has launched the 2023 release of its operations control software. This is the first major coordinated release of its HMI/SCADA software portfolio, available in both perpetual and subscription purchases. The new release further supports the delivery of AVEVA Operations Control, a flexible, subscription-based solution of integrated capabilities that promotes greater efficiency and workforce collaboration at the scale that best suits the business. The first of its kind in the industrial software sphere, AVEVA Operations Control simplifies day-to-day routines of teams by aligning workers around common digital threads of information, delivering the data and insights they need to drive growth at every level through increased efficiency, agility and reliability. With rich visualization technologies, analytics and development tools deployed within a hybrid cloud and on-premises environment, customers can ensure performance consistency, remove opportunity for human error, and improve operator insight and reactions to process deviations. Not only can critical information be retrieved faster, but inbuilt flexibility provides greater scaling – of data, users, or routes to revealing the correct decision. “Digital technologies now comprise the beating heart of industrial enterprises. But operations teams do not yet have the ability to contextualize decisions within a cohesive and sustainable framework. AVEVA Operations Control leverages this information environment with a comprehensive set of applications that empowers users from edge to enterprise with real-time visibility of critical processes in every industry,” says Rashesh Mody, Executive Vice President - Operations Business, AVEVA. AVEVA’s extensive portfolio is a core strength that supports customers in achieving the outcomes they seek. The 2023 operations control release focuses on worker empowerment with UI/UX enhancements, increased flexibility for web and mobile users, and greater connectivity. This release consists of updates in the following offerings: AVEVA System Platform 2023, AVEVA InTouch HMI 2023, AVEVA Edge 2023, AVEVA Plant SCADA 2023, AVEVA Historian 2023, AVEVA Communication Drivers 2023, AVEVA Reports for Operations 2023, AVEVA Development Studio, and AVEVA Teamwork. “Value is often greater than the sum of its parts. The flexible collection of capabilities within the 2023 release function can be combined and linked for even greater effect. Instead of releasing a single HMI or SCADA product, we can enhance our customers’ ability to eliminate silos and build more intelligent systems that make their people smarter, thus maximizing the value obtained from their industrial data,” adds Mody. The 2023 operations control software release is available through several procurement methods, including AVEVA Flex, the advanced industrial software subscription program. Customers can choose individual software offers within the operations control portfolio or realize new transformational value with end-to-end visibility across operations by subscribing to AVEVA’s broad portfolio through AVEVA Operations Control. AVEVA Operations Control removes traditional limitations on implementation by including unlimited software usage (measured by the number of users) and offering maximum commercial flexibility. AVEVA Operations Control helps workers to do their jobs in a more sustainable way. Its comprehensive digital framework supports quicker, data-backed responses to events that require resolution, providing reliable process management systems, and reducing the effort required to train new staff. Customers across industries can further enrich their approach to environmental, social and governance (ESG) initiatives by leveraging the solution to tap data-driven insights for more efficient and environmentally sustainable operations.
Technology2 years ago

AVEVA Launches 2023 Operations Control Software for Industrial Enterprises
Oil prices Down 1% as Economic Fears Outweigh Saudi Output Cut
Energy2 years ago

Is Oil Trading Profitable? 

Top Reads

Coca-Cola Launches Plastic  Recycling  Hub
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Coca-Cola Launches Plastic Recycling  Hub, Targets 13,000TM Annually
LASUSTECH
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Tinubu Appoints Abba Aliyu Rural Managing Director of Electrification Agency
Energy5 days ago

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Markets

NGX Katsina State Governor
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Governor Pledges to Grow Katsina State’s Economy through Capital Market

According to the governor, the visit to the NGX reaffirmed his commitment to sustainable economic development and the importance of...
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AfDB, US Sign $700,000 Credit Rating Deal to Boost Africa’s Capital Flow AfDB, US Sign $700,000 Credit Rating Deal to Boost Africa’s Capital Flow
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AfDB Launches £500m 4.625% 3-year Global Benchmark Bond
Finance3 weeks ago

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NGX Closes Year’s First Full Trading Week with N1.137trn Profit
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Cryptocurrency

$80,000 Mark in View as Bitcoin Rides on US Election Frenzy $80,000 Mark in View as Bitcoin Rides on US Election Frenzy
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Bitcoin has experienced wild price swings since Vice President Kamala Harris announced her candidacy for the U.S. Presidential election in...
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Given the ongoing U.S. presidential election, political meme coins are again on the rise. The PolitiFi category has gained 3%...
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Americans were duped out of more than $5.6 billion last year through fraud schemes involving cryptocurrency, the FBI said in a...
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Malaysian authorities have taken down a major cryptocurrency scam scheme targeting Japanese nationals. According to local reports, the Royal Malaysia Police,...
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Australians Lost $12m Worth of Crypto to Scams in 12 Months

Australians lost cryptocurrency worth Australian dollar 180 million ($122 million) to investment scams in just 12 months, the Australian Federal...
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Rate Manipulation: SEC Moves to Delist Naira from P2P Crypto Space

The Ag Director General of the Securities and Exchange Commission (SEC) Dr. Emomotimi Agama, has disclosed the Commission’s plans to delist...
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Technology

Nigeria’s Telecoms Sector Under Pressure as Broadband Connections Grow Modestly Nigeria’s Telecoms Sector Under Pressure as Broadband Connections Grow Modestly
Telecoms3 weeks ago

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Nigeria to Benefit from $136BN AI Gains, Says WTO DG Okonjo-Iweala Nigeria to Benefit from $136BN AI Gains, Says WTO DG Okonjo-Iweala
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Nigeria Attains 70% Adoption Rate to Beat Global AI Usage
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Economy

Nigeria’s Inflation Hit 34.80% in December – NBS
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Nigeria’s Inflation Hit 34.80% in December – NBS

The National Bureau of Statistics (NBS) has reported that Nigeria’s inflation rate rose to 34.80% in December 2024, reflecting a...
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Minister Says FG Upbeat to Achieve N36 Trillion Revenue Target
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December Inflation Predicted to Worsen to 35.20%
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Lagos Sets Deadline for Employers to File 2024 Annual Tax Returns
CBN authorises Payment Service Banks in Nigeria to sell dollars
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CBN Halts Export Proceeds Repatriation Extensions
Dangote Refinery to Sell Petrol Exclusively to NNPC
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Commodities News & Agribusiness

Oil Slides Below $80 amidst Uncertainties in U.S Policies Oil Slides Below $80 amidst Uncertainties in U.S Policies
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Economy5 months ago

Nigeria’s Cocoa Exports Jump 304% on Demand, Naira
Commodities News & Agribusiness7 months ago

FG Targets 500,000 Metric Tonnes of Cocoa Production by 2025
Foodstuff Store Introduces Innovative Recycling Program Foodstuff Store Introduces Innovative Recycling Program
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Finance

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Palmpay MD Nwosu Highlights Smartphones, Broadband as Drivers of Increased Mobile Money Services
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AfDB Launches £500m 4.625% 3-year Global Benchmark Bond AfDB Launches £500m 4.625% 3-year Global Benchmark Bond
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Leadway Relieves Borno Flood Victims with N117m Leadway Relieves Borno Flood Victims with N117m
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CBN Sanctions Nine Banks N1.35Bn for Hoarding Cash CBN Sanctions Nine Banks N1.35Bn for Hoarding Cash
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Viewpoints

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BOOK REVIEW: Taking Nigerian Small Businesses to Paradise

In the last 40 years, small business owners and entrepreneurs have been receiving greater recognition as drivers of economic growth...
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NASENI Trains Procurement Officers, Others on Global Best Practices
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General News

LASUSTECH
Education6 days ago

LASUSTECH Don Drills Engineering Students on Industrial Devt

The Dean, Colleges of Engineering and Technology, Lagos State University of Science and Technology, Engr. Dr. Yakub Bankole, has organised...
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FristBank Breaks Silence over $225.8m Conflict with GHL
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Lagos Sets Deadline for Employers to File 2024 Annual Tax Returns
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China Development Bank Approves $254.76m Loan for Nigeria’s Kano-Kaduna Railway Project 
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NANS Urges FG to Intervene in FCET Akoka Provost Crisis
Disengaged staff sue CBN
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Disengaged Workers Sue CBN, Demand N30bn Compensation
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Tinubu Promises to Complete Eastern Rail Line, Support Anambra Basin
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FG Debunks Accusation of Colluding with France to Destabilize Niger Republic
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Travels & Aviations

Emirates World’s First Autism Certified Airline
Aviation3 weeks ago

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PRESS RELEASE Emirates is on the path to becoming the world’s first Autism Certified Airline, a milestone that reflects its...
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Demand for African Airline Tickets Surges by 11.9% – IATA
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Airbus Names Gabriel Semelas to Lead Airbus in Africa and the Middle East
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APPLY: British Airways to Spend £21m to Train 200 Pilots
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Wakanow Positions for $38BN Revenue Boom in Africa’s Travel, Tourism Sector 
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Energy

Tinubu Appoints Abba Aliyu Rural Managing Director of Electrification Agency
Energy5 days ago

Tinubu Appoints Abba Aliyu Rural Managing Director of Electrification Agency

President Bola Ahmed Tinubu has appointed Abba Abubakar Aliyu as the substantive Managing Director of the Rural Electrification Agency (REA)....
Dangote Refinery to Sell Petrol Exclusively to NNPC Dangote Refinery to Sell Petrol Exclusively to NNPC
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JUST IN: Dangote Refinery Reduces Petrol Price to N899.50k/litre
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Oando’s Assets More than Double to N2.68 Trillion in One Year Oando Plc has released its audited Consolidated Financial Statements for the full year ended December 31, 2023, to the Nigerian Exchange Group (NGX). The company reported a total asset of N2.68 trillion as against N1.25 trillion posted in the comparable period of 2022, representing a growth of 113.73%. The company recorded a 43% increase in revenue, reaching N2.9 trrillion compared to N1.9 trillion in 2022. Notably, Oando achieved a turnaround, transitioning from a loss in 2022 to a profit-after-tax of N60.3 billion in 2023, a 961% increase in its operating profits despite the 24% reduction in the realised oil price ($83.15/bbl in 2023 compared to $109.55/bbl in 2022). According to the company, the reduction was consistent in gas prices as the value fell from $14.74/bbl in 2022 to $12.19/bbl in 2023; and in NGL prices with a similar decline from $6.23/boe in 2022 to $4.87/boe in 2023. Additionally, the company reduced its upstream borrowings by 23 per cent, from $635.6m in 2022 to $488.9m in 2023. Commenting on the results, Group Chief Executive, Oando Plc, Wale Tinubu, said: “Despite the operational hurdles occasioned by security breaches and persistent pipeline vandalism in the Niger Delta, we achieved a profit after tax of N60 billion, bolstered by the strength of our global trading alliances, a 12 per cent increase in total production, and favourable exchange gains from our foreign currency denominated assets.” “Our recently completed transformational acquisition of NAOC Ltd is a pivotal moment for the Company due to the expansive reserves and vast infrastructure network. Following our 2014 acquisition of ConocoPhillips’s Nigerian unit, this transaction was the next phase in our long-term strategy to increase our reserves and production capacity by leveraging the exit of the International Oil Companies whilst securing operational control of the assets. “Our immediate focus now shifts to a seamless integration and execution of initiatives towards achieving a marked increase in production. We are confident about the opportunities this platform provides and are committed to delivering sustainable value to all stakeholders” he added. Despite persistent operational security challenges in the Niger Delta, Oando achieved a 12 per cent increase in total production, reaching 23,258boepd in 2023 compared to 20,703boepd in 2022. Expanding on the performance of its production portfolio, Oando averaged a daily production of 6,211 bbls/day, making a 26 per cent increase to its 4,939 bbls/day in 2022. Consistent with the improved performance, it averaged 16,808boe/day of natural gas, 10 per cent better than 15,292 boe/day of natural gas in 2022. The company cited improved operations and repairs of shut-in wells offset by persistent sabotage activities as a reason for the production increase. The decline in global oil prices in 2023 was because of a tumultuous year of trading marked by geopolitical turmoil and concerns about the oil output levels of major global producers. The company noted that the operating profits increase was “driven by the increase in revenue and a significant increase in other operating income, largely due to foreign exchange gains on the group’s US dollar-denominated monetary assets. This was despite an increase in administrative expenses primarily from exchange losses from the impact of the Naira devaluation on our foreign currency-denominated liabilities.”
Markets3 months ago

Oando’s Assets More than Double to N2.68 Trillion in One Year
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Showbiz

Dutch Authorities Fine Netflix €4.75M for Data Breach 
Technology2 months ago

Dutch Authorities Fine Netflix €4.75M for Data Breach 

Dutch authorities have imposed a €4.75 million ($4.98 million) fine on  Netflix for failing to adequately inform subscribers about how their personal...
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Femi Adebayo’s Seven Doors Premiere Set To Dazzle At Imax Lekki On December 11th
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Netflix Inflates Subscription Price by 40%
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TECNO Takes Centre Stage at ‘Water and Garri’ Movie Premier
Nigerian Artists Reap N25bn In Spotify Streaming Royalties In 2023
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EU Slams Apples $1.95 Billion Antitrust Fine
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EU Slams Apple with $1.95 Billion Antitrust Fine
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Spotify’s Afrobeats Journey to a Billion Streams Site gets Fresh Updates 
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Burna Boy Leads as top streamed African artist in Sub Saharan Africa
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Appointments

Africa Prudential Appoints Oluwaseyi Abe, Chidi Okpala to Board of Directors
Appointments6 days ago

Africa Prudential Appoints Oluwaseyi Abe, Chidi Okpala to Board of Directors

Africa Prudential Plc announced the appointment of Mr Oluwaseyi Abe as an Independent Non-Executive Director and Mr. Chidi Okpala as a...
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Eterna Plc Appoints Olumide Adeosun as Managing Director
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Kingsley Ifeanyi Adonu Bags MTN Nigeria Partners Award 2024
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Appointments3 months ago

UBA Appoints Henrietta Ugboh Independent Non-executive Director
Equinix Wole Abu
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Equinix Appoints Wole Abu as MD for West Africa as Funke Opeke Steps Down
Sunday Akin Dare
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Meet Sunday Akin Dare: President Tinubu’s New Special Adviser on Public Communication and Orientation
Appointments4 months ago

Stanbic IBTC Holdings Plc Appoints Olusola David-Borha as Chairman of the Board
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CSCS Strengthens Board with Appointment of Bola Adesola and Aisha Muhammed-Oyebode as Directors
Appointments6 months ago

Dr. Obadare Peter Adewale Appointed Professor of Practice at Miva Open University
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Sports

Sports4 months ago

Nigerian-born Bodybuilder Samson Dauda Wins 2024 Mr Olympia, Takes Home $600k Prize
PalmPay Champions Responsible Gaming to Curb Fraud Among Sports Pundits in Nigeria PalmPay Champions Responsible Gaming to Curb Fraud Among Sports Pundits in Nigeria
Sports11 months ago

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Unity in Victory: TECNO's Bold Move Amplifies Community Spirit at AFCON Showdown In a bold move to immerse Nigerian football enthusiasts in the AFCON semi-final clash between the Super Eagles of Nigeria and the Bafana Bafana boys of South Africa, TECNO turned Ojo Square in Yaba into a vibrant arena of football enthusiasm. The crowd, buzzing with energy, witnessed not just a game but a dynamic spectacle where TECNO's commitment to community engagement took centre stage. As the Super Eagles dazzled on the field, the atmosphere crackled with anticipation, and TECNO seized the moment, transforming the viewing party into a carnival of surprises. Amidst spirited games, cheers, and jubilation, the crowd celebrated each goal as TECNO elevated the experience with unexpected thrills. The climax came with Nigeria's victory, celebrated in a crescendo of unity as Mr Real dazzled with his tune, Legbegbe. Amidst the jubilation, Jason Akpanema emerged as the fortunate winner of the TECNO SPARK 20 device by correctly predicting the match's outcome, igniting a new wave of applause. The TECNO SPARK 20 Viewing Party wasn't just about football; it was a testament to TECNO's bold approach to community engagement, turning moments into memories that resonate far beyond the pitch. It was a swell time, and these pictures only give a sneak peek into what was happening at the TECNO SPARK 20 Viewing Party. Unity in Victory: TECNO's Bold Move Amplifies Community Spirit at AFCON Showdown In a bold move to immerse Nigerian football enthusiasts in the AFCON semi-final clash between the Super Eagles of Nigeria and the Bafana Bafana boys of South Africa, TECNO turned Ojo Square in Yaba into a vibrant arena of football enthusiasm. The crowd, buzzing with energy, witnessed not just a game but a dynamic spectacle where TECNO's commitment to community engagement took centre stage. As the Super Eagles dazzled on the field, the atmosphere crackled with anticipation, and TECNO seized the moment, transforming the viewing party into a carnival of surprises. Amidst spirited games, cheers, and jubilation, the crowd celebrated each goal as TECNO elevated the experience with unexpected thrills. The climax came with Nigeria's victory, celebrated in a crescendo of unity as Mr Real dazzled with his tune, Legbegbe. Amidst the jubilation, Jason Akpanema emerged as the fortunate winner of the TECNO SPARK 20 device by correctly predicting the match's outcome, igniting a new wave of applause. The TECNO SPARK 20 Viewing Party wasn't just about football; it was a testament to TECNO's bold approach to community engagement, turning moments into memories that resonate far beyond the pitch. It was a swell time, and these pictures only give a sneak peek into what was happening at the TECNO SPARK 20 Viewing Party.
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