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Latest News Further notes on political alliances in Nigeria, By Edwin Madunagu As Abia hosts 3rd National Council on Niger Delta Ozil quits Germany’s national team over alleged racism, disrespect Flood threatens Azikiwe, Ekwueme, Obiano, Obi, Soludo’s homes Defection: I will make my position known soon — Saraki Delta APC leadership crisis deepens; faction takes to street in protest Unpaid salaries: Ekiti workers give Fayose 14-day ultimatum Osun PDP Guber: No winner, no vanquished — Adeleke 18 students emerge winners of NNPC Zonal National Science Quiz Competition Why ExxonMobil sacked Spy Police Officers — Management 2019 party primary: Ebonyi South PDP retains incumbents SNEPCo donates ultramodern science labs to Kwara school

 

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2018 Budget: Minister replies HEDA’s FOI request on inserted projects

2018 Budget: Minister replies HEDA’s FOI request on inserted projects The Minister of Budget and National Planning, Senator Udo Udoma, has asked for 30 days extension from the Human and Environmental Development Agenda (HEDA Resource Centre), to furnish it with details of the projects allegedly inserted into the 2018 budget by the National Assembly. HEDA, a non-governmental organisation, had in a...... more

Will Nigeria Air succeed where others failed?

Will Nigeria Air succeed where others failed? The Nigerian government is making its third attempt at a national carrier with operations expected to launch in December 2018. Officially named Nigeria Air, the airline's logo and livery were unveiled at the Farnborough Air Show in London to mixed reactions at home. The federal government will own just 5% of...... more

UNN set to export ginger to USA

UNN set to export ginger to USA Barring any unforeseen hazard, the University of Nigeria will by December start the supply of ginger to McCormick Company, a major producer of spices, flavouring and herbs in the United States of America, the Vice-Chancellor Prof Benjamin Ozumba has revealed. Ozumba made the disclosure recently while inspecting over five hectares of...... more

Forex: CBN flags off sale of Chinese Yuan

Forex: CBN flags off sale of Chinese Yuan The Central Bank of Nigeria (CBN) on Friday flagged off its intervention in the sale of foreign exchange in Chinese Yuan (CNY), signalling the consummation of the Bilateral Currency Swap Agreement (BCSA) signed with the People’s Bank of China (PBoC) on April 27, 2018. A statement issued by the Bank on...... more

FG, States, LGs share N668.898b for May

FG, States, LGs share N668.898b for May The Federal Government has disbursed N668.898 billion to the three tiers of government for the month of May, despite the impasse in the Federation Accounts Allocation Committee (FAAC). Director of Information at the Federal Ministry of Finance, Hassan Dodo, revealed this in a statement on Friday in Abuja. He explained that...... more

FG to issue second Green Bond to finance 2018 budget – DMO

FG to issue second Green Bond to finance 2018 budget – DMO The Debt Management Office (DMO) on Friday said the Federal Government would issue another Green Bond to finance capital projects in the 2018 budget before end of the year. Ms Patience Oniha, DMO Director-General, stated this at the listing ceremony of the pioneer FGN N10.69 billion Green Bond at the FMDQ...... more

Dangote Cement invests $3bn on plants, grinding terminals across Africa •Employs 27,952 Nigerians in 2017

Dangote Cement invests $3bn on plants, grinding terminals across Africa •Employs 27,952 Nigerians in 2017 Group Chief Executive Officer of Dangote Cement, Joe Makoju has revealed that the company has invested a whopping $3B to build manufacturing plants and import/grinding terminals across Africa. The company’s operations, according to Makoju are in Cameroon (1.5Mta clinker grinding), Congo (1.5Mta), Ghana (1.5Mta import), Ethiopia (2.5Mta), Senegal (1.5Mta), Sierra Leone...... more

Enugu DISCO expends N10bn on meter procurement •Inherits 700,000 unmetered customers

   Enugu DISCO expends N10bn on meter procurement •Inherits 700,000 unmetered customers Enugu Electricity Distribution Company (EEDC) has committed over N10 billion for the procurement and installation of prepaid meters to her teeming customers in the distribution zone. The company also inherited over 700,000 unmetered customers when they took over from Power Holding Company of Nigeria, PHCN. The EEDC head of communications, Mr....... more

How we improved tax collection to boost Bayelsa IGR to above N1bn – BIR Chairman

How we improved tax collection to boost Bayelsa IGR to above N1bn – BIR Chairman The Executive Chairman, Bayelsa Board of Internal Revenue (BIR), Dr Nimibofa Ayawei, has attributed the rise in Bayelsa’s monthly internally generated revenue above N1 billion mark to deployment of electronic collection system. Ayawei, who spoke while receiving a 14-seater Toyota bus from the management of Access Bank, said the government of...... more

IPMAN condemns discouragement of shareholders from attending NIPCO’s AGM

IPMAN condemns discouragement of shareholders from attending NIPCO’s AGM The national executive of the Independent Petroleum Marketers Association of Nigeria (IPMAN) on Wednesday condemned the discouragement of stakeholders from attending NIPCOo’s Annual General Meeting purported by some individual spreading fake information. The IPMAN secretary, Mr Danladi Pasali, in a communiqué issued after the National Executive Council meeting held in Abuja...... more

Ghana rebases economy

Ghana rebases economy Ghana’s economy will be up to 40 percent bigger than previously calculated when the West African country completes an overhaul of its economic output data in September, two senior government officials told Reuters on Wednesday. The major commodity exporter is recalculating its gross domestic product based on measurements from 2013 instead...... more

Angolan hyperinflation shock hits dragged down Shoprite’s full-year revenue Shoprite

Angolan hyperinflation shock hits dragged down Shoprite’s full-year revenue Shoprite Hyperinflation in Angola dragged down Shoprite’s full-year revenue, sending the share price down as much as 6.5% on Wednesday. Africa’s largest food retailer reported a 3.3% increase in sales to R145.6bn for the 12 months to June, with very high and increasing inflation, as well as a 50% currency devaluation since...... more

Abia signs MoU with 2 firms for construction of ‘Enyimba Economic City’

Abia signs MoU with 2 firms for construction of ‘Enyimba Economic City’ The Abia Economic Enhancement Team says the state government has signed a Memorandum of Understanding (MoU) with two firms for the development of an industrial cluster tagged “Enyimba Economic City”. Mr Chinenye Nwaogu, a member of the economic team, said this on Wednesday in Umuahia, while briefing newsmen on the project,...... more

Reps direct Agip to suspend surveillance contract of Darlong Security, others

Reps direct Agip to suspend surveillance contract of Darlong Security, others The House of Representatives on Wednesday asked the Nigeria Agip Oil Company (NAOC) to suspend all subsisting pipeline surveillance contracts in Bayelsa State. This followed a motion moved by a member, representing Sagbama/ Ekeremor Federal Constituency,‎ Hon. Frederick Agbedi. Agbedi in the motion said Bayelsa State plays host to Agip with...... more

GTB, Okomu oil top losers’ table on NSE

GTB, Okomu oil top losers’ table on NSE Guaranty Trust Bank on Wednesday led the laggards’ table, declining by N2.65 to close at N36.55 per share on the Nigerian Stock Exchange (NSE), the News Agency of Nigeria( NAN) reports. Okomu Oil Palm trailed with a loss of N2 to close at N83, while FBN Holdings dipped N1 to close...... more

FG presents ‘Nigeria Air’ to investors, partners

FG presents ‘Nigeria Air’ to investors, partners The Federal Government on Wednesday announced that the name of the proposed new National Carrier is “Nigeria Air”. The Minister of State for Aviation, Sen. Hadi Sirika, made this known while unveiling the airline to investors at the ongoing Farnborough International Air Show in UK. The colour is green white green,...... more

Insurance coy sued over alleged failure to pay N3m claims

Insurance coy sued over alleged failure to pay N3m claims The Standard Alliance Insurance Company has been dragged to the Abia High Court in Aba over the company’s alleged refusal to pay N3 million to a client on maturity of his life insurance. The suit filed by Mr Okorie Mark, a businessman hinged his claim on alleged non-payment of “Income Protection...... more

BREAKING: FG unveils new national airline

BREAKING: FG unveils new national airline The Federal Government of Nigeria on Wednesday announced that the name of the proposed new National Carrier is ‘Nigeria Air’. The Minister of State for Aviation, Sen. Hadi Sirika, disclosed this while unveiling the airline to investors at the ongoing Farnborough International Air Show in UK. The colour is green white...... more

Osinbajo calls for reduction in cement price, inaugurates $350m BUA Cement Plant

Osinbajo calls for reduction in cement price, inaugurates $350m BUA Cement Plant Vice President Yemi Osinbajo on Thursday called for a reduction in the price of cement, while inaugurating the 350 million dollars BUA Cement Plant at Kalambaina, Sokoto State. The News Agency of Nigeria (NAN) reports that the 1.5 million metric tonnes per annum cement plant built by BUA Group, would provide...... more

CBN sustains Forex intervention, injects fresh $210m

CBN sustains Forex intervention, injects fresh $210m The Central Bank of Nigeria (CBN), on Tuesday, injected the sum of $210 million into the inter-bank foreign exchange (forex) market. The Bank offered $100 million to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got the sum of $55 million, just...... more

Ondo partners World Bank, FG on Livestock Project

Ondo partners World Bank, FG on Livestock Project The Ondo State Government has concluded plans to partner with World Bank and the Federal Government on ‘Livestock Productivity and Resilience Project.’ Gov. Oluwarotimi Akeredolu made the disclosure on Tuesday in Akure during a courtesy visit by a delegation of the World Bank team. The governor, represented by his Deputy, Mr...... more

The benefits of ACFTA for Nigeria huge, says Osinbajo

The benefits of ACFTA for Nigeria huge, says Osinbajo Vice President Yemi Osinbajo has said the benefits of signing the African Continental Free Trade Area (ACFTA), is huge. He said this at the 8th Presidential Quarterly Business Forum with focus on the Export Sector and a brief on the African Continental Free Trade Area (ACFTA). The Vice President said, “With...... more

FRSC, NNPC downstream strategise on plan of action for haulage operators

FRSC, NNPC downstream strategise on plan of action for haulage operators Following the recently concluded Stakeholders’ summit for Haulage in Nigeria which held on the 9th of July 2018 at the instance of the SGF, the Chief Operating Officer, Nigerian National Petroleum Corporation (NNPC) Downstream, Mr. Henry Ikem Obih, had a meeting with the Corps Marshal of the Federal Road Safety Corps...... more

Printing and logistics sectors record huge gains from Presidential Fertilizer Initiative

Printing and logistics sectors record huge gains from Presidential Fertilizer Initiative The multiplier value from the Presidential Fertilizer Initiative (PFI), a programme of the Federal Government of Nigeria designed to boost local capacity in the manufacture of fertilizer, has continued to impact various industries with the logistics and printing sectors recording major boosts. According to a statement signed by the Executive Secretary,...... more

Oando: London court orders Tinubu’s firms to pay $680m debt

Oando: London court orders Tinubu’s firms to pay $680m debt A fresh twist emerged in the Oando Plc crisis following an order by the London Court of International Arbitration (LCIA) which directed the two companies owned by the Chief Executive Officer of Oando Plc, Mr. Wale Tinubu and his deputy, Mr. Mofe Boyo, to pay a total debt of US$680 million...... more

MTN sells MTN Cyprus for $304 million

MTN sells MTN Cyprus for $304 million Mobile network operator MTN Group Ltd said on Monday its subsidiary MTN Dubai sold MTN Cyprus to Monaco Telecom S.A for 260 million euro ($304 million). The telecoms firm said it would also allow Monaco Telecom to use the MTN brand in Cyprus for up to three years in return for...... more

NIMC requires N150bn to enroll every Nigerian – DG

NIMC requires N150bn to enroll every Nigerian – DG The National Identity Management Commission (NIMC) says it requires N150 billion to enable it to enroll every Nigerian on the identity card programme in the next three years. Director-General of the commission, Alhaji Aliyu Abubakar, made this known in an interview with the News Agency of Nigeria (NAN) in Kano on...... more

FG saves over N218bn on personnel cost through IPPIS since inception — Official

FG saves over N218bn on personnel cost through IPPIS since inception — Official The Federal Government says it has saved more than N218 billion on personnel cost since the introduction of the Integrated Personnel Payroll Information System (IPPIS). Mr Olusegun Olufehinti, the Director, IPPIS, said this in an interview with the News Agency of Nigeria (NAN) on Sunday in Abuja. Olufehinti said that the...... more

China willing to invest $3bn in Nigerian oil operations — NNPC

China willing to invest $3bn in Nigerian oil operations — NNPC The China National Offshore Oil Corporation (CNOOC) is to invest an additional three billion dollars in its existing stakes in offshore oil and gas operations in Nigeria. Mr Ndu Ughamadu, the Nigeria National Petroleum Corporation (NNPC) spokesman said this in a statement on Sunday in Abuja. Ughamadu said Mr Yuan Guangyu,...... more

ICT can solve Nigeria’s problems — Zinox Boss Leo Stan Ekeh

ICT can solve Nigeria’s problems — Zinox Boss Leo Stan Ekeh Chairman of Zinox Technologies, Leo Stan Ekeh, has said that information technology is the backbone of the Nigerian economy. He made the assertion while delivering the Guest Lecture at the maiden Nigerian Online Merit Award (NiOMA) held on Friday night, July 13, at Lagos Sheraton Hotel, Ikeja. Ekeh, while speaking on...... more

 

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