Business and Economy

By Lucy Nwachukwu Abuja,  Feb.  6, 2019 African Export-Import Bank (Afreximbank) has a vision to leverage one billion dollars in support of Fund for Export Development in Africa (FEDA) mission, the President, Prof Benedict Oramah, has said. Oramah made the disclosure at a Financing Investment and Trade in Africa conference organised by UNISIA-Africa …

The Director-General of Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, says the agency has created operational conditions that have prompted a turnaround in prospects for maritime safety and successful utilisation of the country’s enormous marine resources. Dakuku stated this in Abuja last week while delivering a lecture …

The Media aide to Peoples Democratic Party (PDP) Vice Presidential Candidate, Mr. Valentine Obienyem, has clarified the recent statement by his boss, Mr. Peter Obi, that he brought International Brewery to Nigeria. In a statement made available to the press on Friday, Mr. Obienyem said his boss meant to say …

By Emmanuel Afonne Abaji (Abuja), Jan. 30, 2019 Nestle Nigeria Plc has re-branded the logo of Nestle Pure Life, its water brand, as it strives towards ensuring a healthier environment for Nigerians and very high quality of water. The re-branding which took place on Wednesday at the company’s factory in …

The Federal Government on Tuesday projected a 10 per cent growth in the Nigerian maritime industry. This was contained in the 2019/2020 maritime forecast unveiled by the Nigerian Maritime Administration and Safety Agency (NIMASA) in Lagos. The forecast, the second in the series is tagged “Harnessing the Maritime and Shipping …

LAGOS, Nigeria, January 28, 2019 The ongoing investment by the Dangote Group in refining, petrochemicals, fertilizer and gas is driven by the desire to bring innovation and efficiency into all aspects of Nigeria’s oil and gas sector, the President/Chief Executive, Aliko Dangote has said. Dangote, who made this disclosure at …

In a bid to continue to boost investors’ confidence in the Nigerian maritime sector, the Nigerian Maritime Administration and Safety Agency (NIMASA) is set to unveil the 2019-2020 Nigerian Maritime Industry Forecast. The projection, the second in the series and an innovation in the Nigerian maritime industry, will take place …

The Director General, DG, of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dakuku Peterside, has disclosed that Nigeria has been able to ratify 40 conventions passed by the International Maritime Organisation (IMO) and International Labour Organisation (ILO) covering Maritime Safety, Labour and Marine Environment. The DG, who spoke in …

The National Minimum Wage Bill (2019) on Thursday scaled both first and second reading in the Senate after which it was committed to a Special Adhoc Committee for further legislative work. Deputy Senate President, Ike Ekweremadu, who presided over plenary, noted that the Senate decided to give the National Minimum …

By Racheal Ishaya Abuja, Jan. 22, 2019 The Monetary Policy Committee (MPC) of the Central Bank of Nigeria, CBN, has retained the Monetary Policy Rate at 14 per cent to combat inflation due to foreseen increase in global and domestic risk to the country’s economy. The Governor of CBN, Mr …

In yet another massive intervention, the Aliko Dangote Foundation Monday officially launched a major philanthropic programme in Zamfara State, doling out food items running into several millions of naira to support victims of insurgency. The farmers-herders clash and sporadic attacks by cattle rustlers have displaced thousands, many of whom are …

The Nigerian Maritime Administration and Safety Agency (NIMASA) says it would intensify its efforts to reposition the maritime industry in Nigeria, as the agency moves to become a leading maritime administration in Africa. The Director-General of NIMASA, Dr. Dakuku Peterside, stated this last week in Lagos during the Independent Newspapers …

 E-commerce giant Konga has partnered with Visa, the world’s leader in digital payments to revolutionize the e-commerce sector in Nigeria. By leveraging the delivery of digital and secure payments solutions across key segments of the Konga Group’s business portfolio, the strategic partnership is positioned to drive greater efficiency in the …

By Taiye Elebiyo-Edeni Abuja, Jan. 15, 2019 Dr Dakuku Peterside, the Director General (DG) of Nigerian Maritime Administration and Safety Agency (NIMASA), said on Tuesday that the agency was addressing the issue of maritime security to make Nigerian ports more attractive. Peterside, who disclosed this in an interview with newsmen …

Dangote Industries Limited (DIL) has denied the ownership of the truck that caused an accident in Iworoko Ekiti, in which 20 people were said to have died at the weekend. The Management of DIL on Sunday issued a statement, frowning at the misleading and unverified report, carried by an Online medium, …

  The Economic and Financial Crimes Commission, EFCC, Benin Zonal Office has arrested a Bishop and suspected fraudster, Giniko Obi, for allegedly defrauding thousands of people of various sums of money running into millions of naira, in the guise of helping them “fight poverty”. Obi, founder of Beloved Gideon Foundation, …

By Amen Gajira Minna, Jan.12, 2019 Vice President Yemi Osinbajo, says Micro, Small, Medium Enterprises (MSMEs) are the most important business component for economic growth. Osinbajo said this on Saturday while launching the MSME clinic in Minna, Niger. “The MSME clinic is a response to the fact that we recognise …

 The Chairman and Chief Executive Officer of Dangote Group, Alhaji Aliko Dangote, and the Group Executive Vice Chairman of SIFAX Group, Dr. Taiwo Afolabi, on Friday joined other stakeholders in the Nigerian maritime sector to hail fresh initiatives by the Nigerian Maritime Administration and Safety Agency (NIMASA) towards realisation of …

Make no mistake about this: the greatest challenge facing the Nigerian nation today is economic. With little else to rely on for foreign exchange, save her oil, which in itself is no longer the life saver it used to be, the country is teetering on the precipice of economic collapse amid high inflation …

Twenty-two members of the academia from 12 Nigerian  universities have begun research attachments at The Shell Petroleum Development Companies of Nigeria (SPDC) in several fields of study in the latest phase of the sabbatical and internship programme of the SPDC Joint Venture which was introduced in 1980. The number represents 13 …

Danjuma James, Sokoto Governor Aminu Tambuwal of Sokoto state has  urged Labour Leaders in the country  to intensify agitation for the review of the nation’s revenue sharing formula. He stated this Wednesday  while receiving NLC members at Government house Sokoto who staged a rally agitating for the implementation of  N30,000 …

ABUJA – The Central Bank of Nigeria (CBN) has continued its intervention in the inter-bank sector of the Foreign Exchange market by injecting another sum of $210 million into the forex market. In the forex trading on Tuesday, January 8, 2019, the CBN injected the sum of $100 million in …

Washington, Jan. 7, 2019 (Reuters/NAN) World Bank Group President, Jim Yong Kim, will resign effective from February 1, more than three years ahead of the expiration of his term in 2022, the multilateral lender said on Monday. Kim, 59, announced that he will immediately join a firm and focus on …

By Racheal Ishaya Abuja, Jan. 4, 2019 The Central Bank of Nigeria (CBN) on Friday made its first intervention in the inter-bank sector of the Foreign Exchange (FOREX) market for 2019 with a sum of 210 million dollars. The CBN Director, Corporate Communications, Isaac Okorafor, said the wholesale sector of …

By Joan Nwagwu Abuja, Jan. 2, 2019 The Federal Government says it will meet with Organised Labour to prevent the threat of national industrial action over non transmission of the New National Minimum Wage bill to the National Assembly. Sen. Chris Ngige, Minister of Labour and Employment, said this in …