Business and Economy

Ruth L. Okediji is the Jeremiah Smith Jr. Professor of Law at Harvard Law School.   On Wednesday May 5, the US moved to back a Covid-19 vaccine patent waiver that was being debated at the World Trade Organization (WTO). The proposal, first put forward by South Africa and India in October 2020, seeks …

The Nigerian National Petroleum Corporation (NNPC) has kicked off construction work in the Port Harcourt Refinery rehabilitation project with a firm commitment not to fail Nigerians. A statement by the Group General Manager, Group Public Affairs Division of the NNPC, Dr. Kennie Obateru, quoted the NNPC Chief Operating Officer, Refineries …

By Ismaila Chafe Abuja, May 7, 2021 President Muhammadu Buhari has approved the recommendation of the Ministry of Transportation under Chief Rotimi Amaechi for the setting up of an Administrative Panel of Inquiry to investigate the Management of the Nigerian Ports Authority (NPA). According to a statement by the President’s …

KATSINA The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has urged youths in Nigeria to embrace agriculture, declaring the Bank’s readiness to support youths that are willing to engage in agriculture. This is even as the Governor reiterated the Bank’s opposition to the importation of maize into Nigeria. …

Nestlé Nigeria PLC has announced its financial results for the first quarter of 2021, ending 31 March 2021. The company recorded revenue of N 87.3 billion against N 70.3 billion during the same period in the previous year, a top-line growth of 24.1%. Profit after tax stood at N 12.4 …

Dangote Cement Plc’s huge investment has been described as one of the major contributors to the development of the Senegalese economy. Besides, the Cement plant located in Pout, 60 kilometres away from Dakar, has greatly assisted in strengthening the business relationship between Senegal and Nigeria. Dangote Cement Senegal currently holds …

  By Chijioke Okoronkwo Abuja, May 3, 2021 Vice President Yemi Osinbajo says Nigeria is to partner tech giant, Microsoft Corporation, to accelerate the Economic Sustainability Plan (ESP) on a deepened digital economy. Osinbajo’s spokesman, Laolu Akande, in a statement on Monday, in Abuja, said that the vice president said …

In a clear demonstration of its resilience, Zenith Bank Plc has announced its unaudited results for the first quarter ended 31st March 2021, with Profit After Tax (PAT) rising by 5% to N53.1 billion, from N50.5 billion recorded in March 2020. This is despite a very challenging macroeconomic environment aggravated …

By Chinyere Joel-Nwokeoma Lagos, April 30, 2021 The Managing Director of Fidelity Bank Plc, Mrs Nneka Onyeali-Ikpe, said that the top priority during her tenure would be to ensure the bank’s emergence as a Tier 1 financial institution by 2025. Onyeali-Ikpe disclosed this on the sidelines of the bank’s 33rd …

…Pledges to optimize cost, boost remittance to FAAC The Nigerian National Petroleum Corporation (NNPC) has clarified that the revenue projection contained in the letter to the Accountant General of the Federation (AGF) being cited in the media pertains only to the Federation revenue stream being managed by the Corporation and …

By Kadiri Abdulrahman Abuja, April 29, 2021 The Central Bank of Nigeria (CBN) has approved the appointment of Tunde Hassan-Odukale as Chairman of First Bank of Nigeria Limited (FBN). CBN also approved the appointment of Remi Babalola as Chairman of FBN Holdings Plc, a subsidiary of FBN. It had earlier …

By  Okuanwan Offiong Lagos, April 28, 2021 Nestlé Nigeria on Wednesday commissioned an additional Water and Sanitation project at Salvation Army School 2, Edu, Agbara in Ogun. The facility is expected  to provide access to clean and safe drinking water and sanitation for no fewer than  1,000 more people including …

A whistle blower in Maritime Academy of Nigeria (MAN) Oron in Akwa Ibom State, has petitioned the Economic and Financial Crimes Commission ( EFCC ), over multiple frauds rocking the institution. In the two page petition to EFCC by Mr Adamu  Jibrin, a staff of the Academy, dated 6th April …

Konga, Nigeria’s leading composite e-Commerce giant, is now a prime destination for the best deals in the market on all Apple products. The development comes after Apple joined the growing list of top brands whose products are available to shoppers on the Konga platform. Consequently, all the existing and latest …

…Bags FUAM Honorary Doctorate in Agripreneurship MAKURDI – The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has again challenged tertiary institutions in Nigeria to promote research and well-designed programmes that will boost agriculture in Nigeria. Mr. Emefiele stated this on Friday, April 23, 2021, while delivering a lecture …

In line with the current administration’s commitment to the rule of law, fairness and enabling a stable business climate for investment, President Muhammadu Buhari has approved the restoration of the leases on OMLs 123, 124, 126 and 137 to the Nigeria National Petroleum Corporation, NNPC which is in production sharing …

A group of petroleum tanker owners in Nigeria under the auspices of the Association of Distributors and Transporters of Petroleum Products (ADITOP) has commended the Nigerian National Petroleum Corporation (NNPC) for its unrelenting efforts to bring sanity into the downstream sector of the oil industry Speaking during a visit to …

The gas development and commercialization programme of the Nigerian National Petroleum Corporation (NNPC) received a boost Thursday with the execution of the Oil Mining Lease (OML) 143 Gas Development Agreement (GDA) by the NNPC and its partner, Sterling Oil Exploration and Production Company (SEEPCO). A statement by the Group General …

The Okordia-Rumekpe 14 inch crude trunkline operated by Shell Petroleum Development Company (SPDC) has discharged some 213 barrels of crude into Ikarama community in Bayelsa. Mr Bamidele Odugbesan, Media Relations Manager at SPDC confirmed the leak and said that the probe into the incident has been concluded. According to a …

By Chiazo Ogbolu Lagos, April 21, 2021 The Nigerian Ports Authority (NPA) has announced the appointment of four new General Managers (GM) and eight Assistant General Managers (AGM). A statement by Ibrahim Nasiru, NPA Spokesman, said the appointment was to motivate its workforce and build a formidable succession plan in …

Being remarks by the Governor of the Central Bank of Nigeria (CBN), Dr. Godwin Emefiele, at the Zenith Bank 2021 International Export Seminar on “Nigeria’s Economic Prosperity: The Role of Intra-Regional Trade and Non-oil Export Initiatives” held on Tuesday, April 20, 2021. (Protocols) I am indeed delighted to attend this seminar …

The Nigerian National Petroleum Corporation (NNPC) has increased the daily supply of Premium Motor Spirit (petrol) across the country from 550 trucks to 1,661 trucks to combat the build up of fuel queues in some parts of the country. A statement by the Group General Manager, Group Public Affairs Division, …

The sachet water, commonly known as ‘Pure Water’ all over Nigeria, is the most popular source of drinking water in most cities and villages. Last week, reports emerged that the price of a sachet of water has jumped from N10 to N20. The doubling of the cost of sachet water …

turnpot@gmail.com 0705 263 1058 The write-up you are about to read was forwarded to me by a friend who now lives in the United States of America. We had been comrades at the then University of Ife (now Obafemi Awolowo University), Ile-Ife. Interestingly, the write-up is an investigative report by …

By Emmanuel Mogbede Abuja, April 18, 2021 The All Progressives Congress (APC) has called on the Peoples Democratic Party (PDP) and others critising the operations of the Central Bank of Nigeria (CBN) to allow it efficiently and effectively perform its mandate. Sen. John Akpanudoedehe, the National Secretary of APC Caretaker …