Business and Economy

The Abia State Governor-Elect, Dr. Alex Otti and the Labour Party (LP) in the State have cried out over alleged “multiple reports of looting going on in different public institutions and Government facilities, including the Abia State Government House and guest houses” in the state. A statement by Ferdinand Ekeoma, Special …

…Commits over $20bn to Pan-African Investments   Africa’s foremost entrepreneur and President of the Dangote Group, Aliko Dangote has urged African countries to dismantle all economic barriers hindering free trade among the nations, in order to achieve sustainable growth and development across the continent. The leading private sector player also expressed …

Public sector turnaround expert, Dr Dakuku Peterside, says the shocking demise of maritime lawyer and shipping magnate, Barrister (Mrs.) Margaret Onyema-Orakwusi will create a big vacuum in Nigeria’s maritime sector. A statement from the family explained that Barrister Onyema-Orakwusi died after a brief illness on April 28, 2023. The immediate …

A former Deputy National Publicity Secretary of the All Progressives Congress (APC), Timi Frank, on Sunday demanded that anti-graft agencies investigate the Memorandum of Understanding (MoU) for a $15 billion Trans-Niger Delta Railway Project signed by the Managing Director of the Niger Delta Development Commission (NDDC), Samuel Ogbuku, with Atlantic …

By Constance Athekame Abuja, April 30, 2023 The Transmission Company of Nigeria (TCN) says it will reconnect the three Distribution Companies earlier disconnected from the national grid for non-compliance with market rules. The News Agency of Nigeria reports that Kano DisCo, Kaduna Electric and APLE Electric were disconnected by the …

 By Okeoghene Akubuike Abuja, April 29, 2023 The African Export-Import Bank (Afreximbank) has bagged seven awards at the Bonds, Loans and ESG Capital Markets Africa Awards 2023 across the transactional and house categories. This is contained in a statement issued by Afreximbank’s Media Contact, Amadou Sall, in Abuja on Saturday. …

Precious Iyamu is one of the 20 beneficiaries who were awarded certificates of completion of Nestlé Nigeria’s technical training program at the Abaji Technical Training Center, Abuja. He made his family and friends proud as the best graduating student of Batch 3, achieving 31 distinctions and one merit, in the …

By Ijendu Iheaka Aba (Abia) Aba Landlords Protection and Development Association (ALPADA) has given Transmission Company of Nigeria (TCN) a 24 hours ultimatum to restore Aba Power Limited (APL) to the National grid or face various forms of protests. The association gave the ultimatum on Friday at its Port Harcourt …

Lagos, Nigeria, April 27, 2023: Fidelity Bank Plc, a leading financial institution released its 2022 Audited Financial Statements on the Nigerian bourse today. The results showed a 34.4% growth in Gross Earnings YoY to N337.1bn, driven by 45.2% growth in interest and similar income to N295.6bn. The increase in Interest …

ICPC Chairman, Prof. Bolaji Owasanoye, speaking at a two-day training organised for CEOs in public agencies in Abuja. By Philomina Attah Abuja April 27, 2023 Prof. Bolaji Owasanoye, the Chairman, Independent Corrupt Practices and Other Related Offences Commission (ICPC), has cautioned Chief Executive Officers (CEOs) of public agencies of the …

As NIMASA, PAP synergise to engage youths in maritime opportunities  The Director General of the Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Bashir Jamoh, OFR has stated that inter-agency collaboration is critical to sustaining the efforts to curb criminal activities in the Nigerian waters and the Gulf of Guinea …

By Mustapha Yauri Zaria (Kaduna State) April 26, 2023 Goods worth millions of Naira were gutted by fire in 100 shops at the popular Yan-Katato Market, Sabon Gari Local Government Area of Kaduna State on Wednesday. Alhaji Mohammed Ashiru, Chairman, Yan-Katato Market, told newsmen in Zaria that the fire occurred …

Konga, Nigeria’s leading composite e-commerce giant, has been ranked among an exclusive list of 25 companies rated as the best place to work in Nigeria for 2023. The list, released by professional networking platform, LinkedIn, saw the Konga Group placed in rarefied company with the likes of Ernst & Young, …

Network International (Network), the leading enabler of digital commerce across the Middle East and Africa (MEA) region, has renewed its partnership with one of Nigeria’s largest financial service providers, Polaris Bank Limited, to deepen financial inclusion and digital transformation. The partnership is anchored on the provision of payments processing solutions …

By Okeoghene Akubuike Abuja, April 24, 2023 The National Bureau of Statistics (NBS) says the average price of 5kg of cooking gas increased from N4,600.57 recorded in February to N4,610.48 in March. This is contained in the Bureau’s “Cooking Gas Price Watch’’ for March 2023 released on Monday in Abuja. …

The Global Commission on the Economics of Water (GCEW) has said that the water crisis presently confronting the world is “deeply intertwined with climate change” and that there is need for countries to collaborate to tackle the challenge and resolve the problem. The Commission, which said these recently in a …

Most of Abia State has since Friday morning been thrown into unprecedented and indefinite darkness by the Transmission Company of Nigeria (TCN), using its arm known as the Market Operator to cut off electricity supplies to the state in a move regarded in the power sector as a punitive measure …

By Lydia Ngwakwe Lagos, April 20, 2023 Access Holdings Plc has announced gross earnings of N1.39 trillion for the 2022 financial year. The company disclosed this in its Consolidated and Separate Financial Statement for the year ended Dec. 31, 2022 released on Thursday in Lagos. The gross earnings represented an …

The third annual Africa.com Definitive List of Women Chief Executive Officers (CEOs) was revealed on April 19. Nneka Onyeali-Ikpe, Managing Director/CEO, Fidelity Bank Plc and Miriam Chidiebele Olusanya, Managing Director, Guaranty Trust Holding Company made the top 10 list. Both companies are listed on the Nigerian Exchange Limited (NGX). The …

By Nana Musa Abuja, April 19, 2023 The Federation Account Allocation Committee (FAAC) shared N714.629 billion to the three tiers of government in Abuja on Wednesday as federation allocation for the month of March. This is contained in a communiqué issued at the end of the FAAC meeting for April. …

The Norwegian Government has commended the Federal Government of Nigeria for her leading role in ensuring Safety and Security in the Gulf of Guinea and declared her readiness to deepen relationship with Nigeria. The Royal Norwegian Minister of Foreign Affairs, Anniken Huitfeldt made her country’s position known shortly after a …

By Fortune Abang Abuja, April 18, 2023 Bilateral trade volume between Israel and Nigeria stands at between $200 million and $250 million yearly, Michael Freeman, Ambassador of Israel to Nigeria, has said. He assured of his country’s readiness to improve the trade volume. Freeman, also Permanent Representative of Israel to …

By Oladele Eniola Lagos, April 17, 2023 Passengers were on Monday stranded in the Murtala Muhammad Airport (MMA) terminal as Aviation Unions began their two-day warning strike. The News Agency of Nigeria (NAN) reports that members of the union blocked the entrance of the MMA, leaving passengers stranded. Officials of …

Despite the economic headwinds that characterised 2022, Dangote Sugar Refinery Plc (DSR) will pay N18.22 billion as dividends to shareholders for the year ended December 31, 2022, while also targeting the production of over 170,000 tonnes of sugar next season. The dividend payout will translate to N1.50 kobo per share …

Different brands of foreign rice, especially from Thailand and India are flooding into some markets in Kano, Jigawa, and Katsina States in Northern Nigeria. The worrisome development, according to agricultural experts and some local rice dealers, has greatly affected the local production of the staple food commodity. This is just …