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Business and Economy

Revisit Special Status for Lagos bill, Ambode urges Senate …Says one percent allocation to State will benefit all Nigerians ….Senate’ll take a second look at bill, Yerima assures

Lagos State Governor, Mr. Akinwunmi Ambode on Tuesday appealed to the Senate to revisit the bill seeking one percent allocation to Lagos from the revenue accruable to the Federal Government, saying a passage of the bill would translate to economic prosperity and well-being of Nigeria. Governor Ambode, who spoke at …

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Ayade presents 2017 budget of N301B to House of Assembly

Cross River State Governor, Professor Ben Ayade Monday presented the 2017 Appropriation Bill of N301 Billion to the state House of Assembly. Christened “Budget of Infinite Transposition”, the budget, according to the governor, seeks to achieve three cardinal objectives of “improving and expanding infrastructure through Public Private Partnership, planting the …

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$2.6BN Badagry Deep Sea Port will be turning point for economic growth – Ambode …Says funding for 10-Lane Mile 2-Badagry highway expansion at advanced stage

Lagos State Governor, Mr. Akinwunmi Ambode on Thursday expressed optimism that the $2.6bn Badagry Deep Sea Port Project would be a major turning point that would go a long way to bring about global growth to Nigerian waters and by extension the nation’s economy. The Governor, who spoke shortly after …

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NLNG, Navy commission co-funded Navy School hostel in Calabar

Nigeria LNG Limited (NLNG) and the Nigerian Navy recently commissioned a public-private partnership funded hostel at the Nigerian Navy Secondary School, Akpab-Uyo, Calabar as part of the company’s contribution to the development of education in Nigeria. The 320 capacity boys hostel facility, which was taken over by NLNG for completion …

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Prof. Akintunde Akinwande denies rejecting Buhari’s job; Says he’ll honor Senate screening for NERC Chairmanship after clearance from his University

Prof. Akintunde Ibitayo Akinwande, nominated for the Chairmanship of Nigerian Electricity Regulatory Commission (NERC), says he will honour an invitation for screening by the Nigerian Senate after clearing with his current employer, Massachusetts Institute of Technology (MIT), U S A. In a letter, dated 26th October, 2016, to the Chairman …

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Adeosun hosts IMF Director, Says FG is committed to infrastructure development

The Minister of Finance, Mrs. Kemi Adeosun on Wednesday told the visiting Director, African Department of the International Monetary Fund (IMF), Mr. Abebe Aemro Selassie that the Federal Government is leaving no stone unturned in its bid to make infrastructure development a priority. Taking the visiting IMF chief through some …

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Africa’s 5th largest economy: We’ll soon set up economic team – Ambode … Says it’s important to globalize State’s economy …Lagos, good example of how to run an economy without oil – Sanusi

Lagos State Governor, Mr. Akinwunmi Ambode on Tuesday expressed delight at the emergence of Lagos as the fifth largest economy in Africa, just as he said his administration is in the process of setting up an Economic Management Team comprised of distinguished individuals from the private sector and the public …

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Nitel/Mtel: Creditors report liquidator to FRCN, PACAC

Creditors have dragged the appointed liquidator for Nitel/Mtel, Otunba Olutola Senbore, before the Financial Reporting Council of Nigeria, FRCN, and the Presidential Advisory Committee Against Corruption, PACAC. In a petition signed by a representative of the creditors, Sebagen Henry Noboh, and dated October 20, 2016, the complainants decried what they …

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Guinness Nigeria appoints Egerton-Shyngle as new Commercial Director

Guinness Nigeria, manufacturers of alcoholic and non- alcoholic beverages such as Guinness Foreign Extra Stout and Orijin have announced the appointment of Emmanuel Egerton-Shyngle into the position of Commercial Director. Effective 1st November 2016, Egerton-Shyngle will take over from Paul Costigan who will be moving into other roles within Diageo. …

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Anchor Insurance records 14 per cent investment growth in 2015; Floats Employee Loss of Employment Insurance Scheme

Dennis Udoma Anchor Insurance Company Limited has announced a growth rate of 14 per cent as investment income for 2015. Chairman, Board of Directors of the company, Dr Elijah Akpan made this known during the Annual General Meeting (AGM), held at Le’ Meridien Ibom Hotel and Golf Resort, Uyo, Akwa …

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Nestle Nigeria Plc’s Nutrition Institute Africa holds media workshop

Nestle Nigeria Plc through its Nutrition Institute Africa, held a workshop for the media at the Agbara, Lagos Factory of the multi-national on Wednesday, October 19, 2016. The well attended workshop which had the aim of furthering the understanding of the Science of Nutrition, had as its theme, ’Good Nutrition …

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Ikeja Electric partners DRASA to celebrate Hand Washing Day in Lagos Schools

Ikeja Electric Plc, Nigeria’s largest distribution company has partnered with Dr. Ameyo Stella Adadevoh (DRASA) Health Trust and Kleanmate to celebrate this year’s Global Hand washing Day with children in selected Secondary Schools located within its network coverage. The event, celebrated yearly on October 15th, promotes right hygiene practices, with …

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