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Business and Economy

1trn yearly will solve Lagos road construction deficit – Ambode …Justifies engagement of indigenous contractors for 114 inner roads …Says move will save economy from recession

Lagos State Governor, Mr. Akinwunmi Ambode on Thursday justified the decision of his administration to engage indigenous contractors for the construction of 114 inner roads simultaneously across the State, just as he disclosed that about N1trillion is needed yearly to address the deficit in road construction. Governor Ambode, who spoke …

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Prime Innovation Institute of Technology opens another APTECH Center in Lagos

Prime Innovation Institute of Technology (PIIT) will, Thursday, September 22, 2016, open a new ultra modern APTECH Center in Lekki, Lagos. The opening ceremony which will be graced by prospective students, parents and members of the community and other dignitaries, will also see some representatives of Aptech from India and …

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Cabinet Retreat endorses FG’s plan to tackle recession, develop economic emergency recovery bill, bridge funding gap

Participants at the recent Cabinet Retreat on the Budget, have endorsed the Federal Government’s programme of action for dealing with the recession, the effort to develop an economic emergency recovery bill to address the situation and the plan to bridge the existing funding gap. The retreat, organized by the Ministry …

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Akwa Ibom group thanks President Buhari for Ekere’s appointment as NDDC MD

Dennis Udoma One For Change, a solidarity organization in Akwa Ibom State has hailed President Muhammadu Buhari’s appointment of Obong Nsima Ekere as the Managing Director of the Niger-Delta Development Commission (NDDC). The group described the gesture as well deserved judging from his antecedent, sterling qualities and records of service …

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SERAP: Court should compel EFCC to prosecute Dogara, others over alleged ‘heinous’ budget fraud

As the National Assembly resumes on Tuesday, Socio-Economic Rights and Accountability Project (SERAP) has asked the Federal High Court in Abuja for an order to compel the Economic and Financial Crimes Commission (EFCC) to “investigate and prosecute allegations of budget padding and abuse of office leveled against the Speaker of …

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FG to release N350 billion for capital projects next week; To raise $1 billion Eurobond before end of December for capital projects

The Minister of Finance, Mrs. Kemi Adeosun has disclosed that a sum of N350 billion capital votes will be released immediately into the system as the Federal Government continues to tackle the economic crisis currently facing the nation. The Minister, who spoke at a press briefing in Abuja on Friday, …

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Mercedes-Benz leads Automobile Segment in first half of the year; Delivers its four-millionth SUV in strongest-selling August ever

. Mercedes-Benz in the first half of 2016 has overtaken other luxury car segments in the number of vehicles sold, approaching its goal to beat competitors on annual sales for the first time in 11 years, Bloomberg reports. Mercedes’ sales for the first six months of 2016 increased by 12%, …

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Ambode donates N5m to students with new biogas technology …Presents certificates to 422 graduates of RSW Internship Scheme

Lagos State Governor, Mr. Akinwunmi Ambode on Thursday donated N5 million to two students of Lagos State College Of Health Technology who designed new technology of generating Biogas through the treatment of animal waste. The students – Sarunmi Oluwafemi and Dada Samuel, were among the 422 successful graduates of the …

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Ambode approves N740M compensation for Lekki Free Zone host communities …Says more to come in due course

Lagos State Governor, Mr. Akinwunmi Ambode on Thursday approved a total sum of N740,461,432.00 as compensation for host communities of Parcel B comprising Yegunda, Abomiti and International Airport site of the Lekki Free Trade Zone (LFTZ). The State’s Commissioner for Commerce, Industry and Cooperatives, Prince Rotimi Ogunleye, who announced the …

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Fashola advocates movement of cargo by rail to save nation’s roads, says seeds of recession sown by failure of previous administration to pay contractors for two to three years

· As Minister inspects rehabilitation of access road to Apapa/Tin Can Island Port – NNPC Depot (Atlas Cove) including the construction of new bridge from Liverpool Roundabout across Port Novo Creek · “When we are seeking to understand what we are doing today or why we are where we are …

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Federal Government not importing ‘poisonous’ rice, says Presidency

The Federal Government has described attempts by unscrupulous individuals on social media linking the government and Dangote group with a plan to ‘flood’ the country with genetically modified rice (GMO) as extremely uncharitable. A statement by Femi Adesina, Special Adviser to the President (Media and Publicity) which debunked the rumours …

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Mining: Fayemi woos foreign investors with three years tax holiday, others

The Minister of Mines and Steel Development, Dr Kayode Fayemi, on Wednesday offered prospective investors in the Nigerian mining sector three years tax holidays, as part of Federal government’s incentives to serious investors. The tax holiday, according to the Minister, would commence from the date the investor commences mining operations …

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