Category: Business
he Federal Government has assured that it will do everything possible to not only make sure elections hold in 2023 but to secure the country following rising insecurity. This was disclosed by Minister of Information and Culture, Alhaji Lai Mohammed at the end of the Federal Executive Council presided over by President Muhammadu Buhari on […]
The Federal Government approved the sum of $2.9 billion for the development of Badagry Deep Seaport in Lagos State. This was disclosed by the Ministers of Transport, Muazu Sambo, and that of Federal Capital Territory (FCT), Mallam Muhammed Bello on Wednesday in Abuja, according to NAN. The FEC has okayed multiple seaport development over recent […]
The Federal Government has defended the expenditure of N1.15 billion on the purchase of 10 SUVs for the Republic of Niger, saying that the move is to enable Nigeria safeguard its territory in the best interest of Nigeria’s security. The reaction by the Federal Government follows the outrage that has greeted the deployment of such […]
The Association of Nigerian Electricity Distributors (ANED) has rejected the federal government’s decision to restructure electricity distribution companies in the country. It added that the government failed to fulfil its N100 billion subsidy and other privatisation promises made since 2013. The executive director, research and advocacy, Sunday Oduntan, disclosed in a statement. At least five companies, including […]
The Organisation of Petroleum Exporting Countries (OPEC) and its allies on Wednesday raised Nigeria’s oil production quota to 1.830 million barrels per day in September from 1.826 million barrels per day in August. OPEC raised Nigeria’s oil production quota at its 31st OPEC and non-OPEC ministerial meeting, according to a statement released by the organisation on Wednesday. […]
Governors of Nigerian states under the umbrella of Nigeria Governors’ Forum (NGF) have again resisted attempts to commence the deduction of $418 million Paris Club refund allegedly owed four contractors from the federation account. The governors in a letter to the federal government through the Secretary to the Government of the Federation (SGF), Boss Mustapha, argued that […]
The Corporate Affairs Commission (CAC) has stated that National Identification Number (NIN) would replace signatures required by applicants for business and company registration. This was disclosed by Alhaji Garba Abubakar, the Registrar-General of CAC. He revealed CAC’s partnership with the National Identity Management Commission (NIMC). He stated that the CACs with NIMC have reached an […]
BUA Foods generated N168.85 billion revenue from its household consumables in the first half of 2022, above the N151.73 billion grossed during the corresponding period in 2021. While the company’s revenue grew 11.2% year-on-year, turnover was slowed by its wheat and fortified sugar, as earnings from sales of the products declined during the review period. […]
The Nigerian Government said it will adopt voluntary conciliation to end the ongoing strike by the Academic Staff Union of Universities (ASUU). This was disclosed by the Minister of Labour and Employment, Sen. Chris Ngige on Tuesday at a 3-day capacity building workshop on International Labour Standards and Dispute Resolution in Nigeria on Tuesday in Abuja. He […]
Naira gained significantly against the U.S. dollar at the parallel market on Tuesday, after crashing to an all-time low of N710.00 last week. Currency traders in Abuja and Uyo said they bought the dollar at about N635 and sold between N640 and N645 on Tuesday, against N685 it traded in the previous session on Monday. […]
Minister of communications and digital economy, Isa Pantami, has opposed a plan by the federal government to impose five per cent excise duty on telecommunications services in the country. Pantami who expressed his opposition to the move on Monday, vowed to use every legal instrument available to fight the decision as, according to him, the […]
The Minister of Works and Housing, Babatunde Fashola, has said that State Governments could apply on behalf of their residents and indigenes for the houses currently being subscribed to from the National Housing Programme (NHP) across 34 States of the country. According to the Special Adviser to the Minister on Communications, Hakeem Bello, this was […]
The Independent National Electoral Commission has announced that 8,784,677 million youths made up the 12,298,944 Nigerians who completed the voter registration process, as it formally ends the nationwide Continuous Voter Registration (CVR). INEC disclosed this in a statement on Monday evening, showing completed data as at 7am, Monday, the 1st August 2022. INEC had earlier […]
Following the announcement that the Federal Government’s plan to ban motorcycles in a bid to curb rising insecurity, the Federal Road Safety Commission has announced that it would impound any motorcycle without appropriate registration. This was disclosed by Acting FRSC Corps Marshal, Mr. Dauda Biu, in a statement on Monday, directed to all 37 Sector […]
The federal government has blamed petroleum marketers for the recent increase in petrol pump prices. The Minister of State for Petroleum Resources, Timipre Sylva, said the government was still paying subsidy on petrol imported into the country. “I can tell you authoritatively, we have not deregulated. The government is still subsidizing petrol prices. If there […]