Business and Economy

  By Edith Ike-Eboh Abuja, Sept. 21, 2018 The Nigerian National Petroleum Corporation (NNPC) says it has no hidden 470.5 million dollars and N8 billion in any commercial bank as alleged by the Nigerian police. The NNPC in a statement by its Group General Manager, Group Public Affairs Division, Mr …

The Chief Judge of the Federal High Court, Abuja Division, Hon. Justice Adamu Abdu Kafarati, has reiterated the need for judges in Nigeria to support the recovery efforts of Asset Management Corporation of Nigeria (AMCON) since the corporation was established as a central element of government’s response to financial crisis …

By Leonard Okachie Umuahia, Sep. 21, 2018 Mr Gabriel Igboko, Abia Commissioner for Small and Medium Enterprises (SMEs), says the State Government has concluded plans to establish SME microfinance bank in October to assist small scale entrepreneurs in the state. Igboko disclosed this in an interview with the News Agency …

The 408 active staff and retirees/ Next-of Kins (NOKs) of the defunct Power Holding Company of Nigeria (PHCN)  who have been computed and audited by the Office of the Accountant General of the Federation (OAGF) have started receiving payment for their entitlements amounting to N1, 053,402,476.03, the Bureau of Public Enterprises (BPE) has …

The latest report which placed Bayelsa State among the most fiscally stable states in Nigeria is a confirmation of the frugal nature of the Honourable Henry Seriake Dickson led administration, the State Commissioner for Information and Orientation, Daniel Iworiso-Markson, has said.   Bayelsa State came behind Rivers and Delta in …

The sale of 21 percent  shares  of the Federal Government in the Nigerian  Security Printing and Minting (NSPM) Plc to the Central Bank of Nigeria (CBN) will contribute over N17 billion to the national treasury, Director General of the Bureau of Public Enterprises (BPE), Mr. Alex A. Okoh has said. At the signing ceremony for the sale …

Nestlé and Ashoka have kick-started a social investment accelerator program to accelerate social entrepreneurship and boost economic development of Africa, on September 10, 2018. 12 social entrepreneurs from Benin, Ghana, Egypt, Kenya, Uganda and South Africa will learn new tools and methodologies to help refine their business model and become investment ready. This …

By Akeem Abas Ibadan, Sept. 18, 2018 The Oyo State Government on Tuesday shut down  Obasanjo Farms and 12 others for defaulting in the payment of environmental levy. The News Agency of Nigeria (NAN) reports that the business premises were shut by a combined team coordinated by the Oyo State Board …

The chairman of the Association of African Maritime Administrations AAMA, Dr Dakuku Peterside has restated the place of continental collaboration to grow the African maritime industry. This was the thrust of his message as he arrived Sharm El Sheik, Egypt for the 4th conference of Association of African Maritime Administration, (AAMA) …

By Taiye Elebiyo-Edeni Abuja, Sept.16, 2018 The Minister of Transportation, Rotimi Amaechi on Sunday restated the ministry’s commitment to host the 16th edition of the National Council on Transportation (NCT) before the end of 2018. Amaechi gave this assurance at a news conference in Abuja. News Agency of Nigeria(NAN) recalled …

The Insurance Sector in Nigeria has continued to enjoy steady growth with Premiums increased from N75 billion to over N300 billion between 2005 and 2015, Director General of the Bureau of Public Enterprises (BPE), Mr. Alex A. Okoh has disclosed. Speaking as a special guest at the investiture ceremony of …

 14th September, 2018  His Excellency Muhammadu Buhari President, Federal Republic of Nigeria State House Aso Villa Abuja  Dear Excellency, Let me commence by thanking you profusely for the honour and privilege of serving under your inspirational leadership. It has been a truly rewarding experience to learn from you and to observe at close quarters …

By Adekunle Williams and Solomon Asowata Lagos, Sept. 13, 2018 Nigerian carrier, Air Peace, has signed a multi-million dollar agreement with aircraft manufacturers, The Boeing Company, for the purchase of 10 brand new B737 Max aircraft. The agreement was signed on Thursday at the United States Consulate in Lagos by …

    The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has stressed that regional collaboration is key to developing Africa’s maritime sector, stating the Agency’s commitment to continue to reposition the Nigerian maritime sector in order to make it viable and compete favourably …

The Chairman of the National Seafarers Welfare Board of Nigeria (NSWBN), Otunba Kunle Folarin has stated that the Nigerian Maritime Administration and Safety Agency (NIMASA) is not responsible for the detained seafarers, but rather has been of immense support and assistance in ensuring they have a better living condition in …

Indications have emerged that one of Africa’s leading digital entrepreneurs and Chairman, Zinox Group, Leo Stan Ekeh may have decided to quit as CEO of his technology group by 2021. One of Mr. Ekeh’s closest confidantes disclosed that, going by his tone at the Zinox Group corporate retreat held in …

By Lilian Okoro and Wumi Ashafa Lagos, Sept. 7, 2018 The Central Bank of Nigeria (CBN)  on Friday said  the alleged deduction of N1.886 billion fine from Stanbic IBTC Bank’s account was in the national interest. An official of CBN, who pleaded anonymity while confirming this to the News Agency …

Nigeria’s partnership with China through the Forum on China-Africa Cooperation (FOCAC) has resulted in the execution of vital infrastructure projects across the country, valued at over $5 billion in the last three years of the current administration. President Muhammadu Buhari disclosed this on Tuesday in Beijing at the FOCAC Round …

A major face-lift came the way of Pacelli School for the Blind and Partially Sighted in Lagos on Friday when Shell Nigeria Exploration and Production Company (SNEPCo) made donations of furniture and air conditioners to the school. This came barely a year after the staff of the company under the …

Dangote has emerged as the most valuable brand among the top 50 brands in Nigeria for 2018 unveiled at the weekend in Lagos. This is coming barely three months after the brand was adjudged the most admired brand of African origin by Consumers in a brand rating coordinated by South …

Beijing, Sept. 3, 2018 China will extend a total of 60 billion U.S. dollars of financing to Africa, Chinese President Xi Jinping announced Monday. The financing will be provided in the form of government assistance as well as investment and financing by financial institutions and companies, Xi said in a …

By Dennis Udoma Total Exploration and Production Nigeria Limited is setting up a N40 Million Soap manufacturing Plant in Ekpene Ukim, Uruan Local Government Area of Akwa Ibom State. The initiative, is in line with the company’s drive to create an environment to encourage sustainable development within host communities in …

By Ismaila Chafe Abuja, Sept.1 President Muhammadu Buhari has approved the appointment of Abbas Umar Masanawa as Managing Director of the Nigeria Security Printing And Minting Company, (NSPMC). The president also approved the appointments of Abubakar Sule Minjibir, Chris Orewa and Tunji Kazeem as Executive Directors in the company. This …