Business and Economy

Former governor of Abia State, Orji Uzoh-Kalu has called on President Goodluck Jonathan to urgently remove the subsidies on petroleum products before he hands over to the President-elect Muhammadu Buhari (rtd), on Friday. In a statement released today, the publisher of The Sun and New Telegraph newspapers, said that if …

  As more banks announce a return to normal services after the end of a nationwide fuel distribution strike that forced them to close their generator-dependent branches early last Monday, analysts have pointed out that the crisis underlined the need for the industry to aggressively pursue the plan to establish …

The Central Bank of Nigeria (CBN) has said it is appraising the over 200 applications received in respect of the N300 billion Real Sector Support Facility (RSSF). A statement by its Director, Corporate Communication, Ibrahim Mu’azu, said: “The policy objectives of the RSS Facility are to provide long-term, low-interest financing …

  German luxury automobile brand, Mercedes-Benz has put in place a new naming system for its complete model range. The brand has changed recognised car models and introduced a range of new names, which started towards the end of 2014. The brand that is constantly producing new vehicles, believes that …

The prompt action taken by Capital Oil’s Dr. Ifeanyi Uba yesterday, directing that petroleum products should begin to be lifted from his facility and the intervention of the Senate Committee on Petroleum Downstream led by Senator Magnus Abe, have combined to force oil markers in the country to call of …

Le Meridien Ibom Hotel & Resort in Uyo, Akwa Ibom State, has announced that it has received a TripAdvisor Certificate of Excellence award. Now in its fifth year, the award celebrates excellence in hospitality and is given only to establishments that consistently achieve great traveller reviews on TripAdvisor. The Certificate …

  The Securities and Exchange Commission (SEC) has suspended the BGL Asset Management Ltd, BGL Capital Ltd and BGL Securities Ltd from all capital market activities. In a statement in Lagos, Wednesday, the Commission directed that Mr Albert Okumagba, Group Managing Director, BGL Group, should cease to be a registered …

  While the classic Mercedes-Benz CLS- whose design concept has generated more than its fair share of imitators since its debut in 2003 is still enthralling the world, further design development has given birth to the unmistakable looking Mercedes-Benz CLA. The powerfully dynamic design and interplay between concave and convex …

  Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, Tuesday, swiftly dismissed the demand by the Nigeria Governors’ Forum (NGF) for her office to account for about $20 billion oil revenue from the Excess Crude Account (ECA) from June 2013 to April 2015. “There is no …

  A Federal High Court sitting in Lagos has restrained President Goodluck Jonathan, from assenting to the bill for an Act to amend the Oil and Gas Export Free Zone. The court, presided over by Justice Saliu Saidu, also restrained the National Assembly, the Clerk of the National Assembly from …

  Three former African Presidents have confirmed their partcicpation in activities marking the 22nd Annual General Meeting of Shareholders of the African Export-Import Bank (Afreximbank) scheduled to take place in Lusaka from June 10 to 13, according to a programme of events released by the bank. Afreximbank said in Cairo, …

The all-new Ford Figo is destined to be a compact car champion by offering unprecedented levels of style, feature-rich smart technologies and high levels of safety, while retaining the Figo’s established reputation for superb fuel efficiency and overall value. “The Ford Figo has been a remarkable success story in South …

Registrar of the Chartered Institute of Taxation of Nigeria (CITN), Mr Fisayo Awogbade, Sunday, said the institute would delist members found involved in tax malpractices . Awogbode who disclosed this at the ongoing Annual Tax Conference (ATC) organised by the Institute in Abuja, said such action was geared at sanitising …

  Nigerian Maritime Administration and Safety Agency (NIMASA) has commended the recent approval given by the Federal Executive Council (FEC) for the establishment of the Nigeria Maritime University (NMU) to commence academic activities. The university is an initiative of the Nigerian Maritime Administration and Safety Agency (NIMASA). The institution, which …

Federal Government has announced the harmonisation of various governments tax and levies operational nationwide, following appeals by the Organised Private Sector (OPS) for a policy in that direction. Coordinating Minister and Minister of Finance, Dr Ngozi Okonjo-Iweala, disclosed this at the Annual Tax Conference (ATC) organised by the Chartered Institute …

  The much waited Dangote oil refinery has approved the Universal Oil Products, Limited Liability Company, UOP LLC technology to operate its world-scale integrated refinery and petrochemical plant slated for Lekki, in Lagos. UOP LLC, a sister company of Honeywell International Incorporation made this known in a statement on its …

  First Launched Globally in1985-More than 7.3 Million Units in Global Sales Hyundai is celebrating the 30th anniversary for the iconic Sonata mid-size sedan. The Sonata made its debut in 1985 in Korea, playing a pivotal role in Hyundai’s growth and reputation. With more than 7.3 million Sonata models sold …

The African Export-Import Bank (Afreximbank) attracted some $8 billion into Africa in 2014 through the 19 syndicated financing deals which it either arranged or co-arranged, Jean-Louis Ekra, President of the Bank, has announced. The President, speaking in London recently during Afreximbank’s annual update meeting with its relationship banks, said that …

Umbrella body of license clearing agents, the Association of Nigerian Licensed Customs Agents (ANLCA) has threatened to withdraw services of members from the ports nationwide in other to compel the federal government to the recurring vehicular traffic jam at Apapa. The National Publicity Secretary (NPS) of the association, Dr. Kayode …

Umbrella body of license clearing agents, the Association of Nigerian Licensed Customs Agents (ANLCA) has threatened to withdraw services of members from the ports nationwide in other to compel the federal government to the recurring vehicular traffic jam at Apapa. The National Publicity Secretary (NPS) of the association, Dr. Kayode …

  Reinvigoration of the steel sector of the Nigerian economy is believed to be one core area the out-going government of President Goodluck Jonathan did not particularly score high marks in, according to experts. Urging the in-coming administration of General Muhammadu Buhari (Rtd) to ensure that the Ajaokuta Steel Mill …

Special Assistant to the President on the New Partnership for Africa’s Development (NEPAD), Amb. Fidelia Njeze, has formally inaugurated a 25-member planning committee for the 2015 NEPAD Trade Fair. In a statement signed by the Chief Press Secretary, NEPAD Nigeria, Mrs Janet McDickson, Saturday in Abuja, the committee is headed …

National President, Nigerian Association of Air Freight Forwarders and Consolidators (NAFFAC), Mr. C.A.T Agubamah has said that about 80 per cent of freight forwarders operating in Nigeria are poor in capacity and do not know much beyond running after containers at the seaports or running after the air ware bills …

West African Development Bank (BOAD), Thursday, received a major financial assistance from the Arab Bank for Economic Development in Africa (BADEA), as the Asian finance house presented the sum of USD 20 million to the West African bank at a ceremony in Lome, Togo. Messrs. Christian Adovelande, President of the …

Minister of Finance, Dr. Ngozi Okonjo-Iweala, Wednesday, absolved the Federal Government of blame over the inability of some state governments to pay their workers’ salaries. The minister, in a statement signed by her Special Adviser on Communications, Paul Nwabuikwu, said governors of such states should be blamed for the problem …