Business and Economy

  By Chinyere Joel-Nwokeoma Nigerian Breweries Plc says that 100 per cent of its packaging materials are sourced locally to boost the nation’s growth and development. Mr Jordi Borrut Bel, the company’s Managing Director, said this at its pre-Annual General Meeting (AGM) media conference in Lagos on Wednesday. Bel said …

  By Chinyere Joel-Nwokeoma  Some highly capitalised stocks on Wednesday posted price appreciation on the Nigerian Stock Exchange (NSE) with the market capitalisation improving by N126 billion. Mobil Oil led the gainers’ table, gaining N13.50 to close at N192 per share. Dangote Cement followed with a gain of N5 to …

Nestlé S.A. has announced its ambition to make 100% of its packaging recyclable or re-usable by 2025. Its vision is that none of its packaging, including plastics, ends up in landfill or as litter. Nestlé believes that there is an urgent need to minimize the impact of packaging on the …

  With the intent to provide quicker and instant access to loans for employees, Access Bank Plc has launched PayDay Loan, Nigeria’s first fully digital lending service. PayDay Loan can be accessed on USSD code *901*11# and across over 2,000 Access Bank ATMs pan Nigeria. PayDay Loan requires no collateral or guarantor, …

By Ihechinyere Chigemeri-Uwom Mr Babatunde Fashola , Minister for Power, Works and Housing, said the transmission capacities of Umuahia and Aba transmission sub-stations have been upgraded to boost power supply in Abia and environs. Speaking at the inauguration of the 40MVA 132/33KVA mobile power transformer at Umuahia transmission sub-station on …

The Lagos State government has said no fewer than 3000 jobs would be created when the 13 bus terminals springing across the city finally comes on stream. This is as it disclosed that about 473 buses to flag-off operation of the bus reform would soon be arriving the country. Speaking …

 By Yetunde Bada  The Nigerian National Petroleum Corporation (NNPC) says about 160 firms of professional Estate Surveyors and Valuers have submitted bids to provide valuation and land acquisition services. A statement by the NNPC Spokesperson, Mr Ndu Ughamadu in Abuja on Saturday, said the exercise was conducted by the Group …

 David Amusa, Port Harcourt   The National Union of Petroleum and Natural Gas Workers (NUPENG) has appealed to the National Assembly to pass other petroleum industry bills in spite of their passing the Petroleum Industry Governance bill.   Speaking at the 4th quadrennial delegates conference in Port Harcourt, on Friday, …

The Nigeria National Petroleum Corporation (NNPC) on Friday announced the signing of contracts for engineering, procurement, construction, commissioning and financing of  614km Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline and Stations. Mr. Ndu Ughamadu, spokesperson for the NNPC who announced this in a statement said the agreement which is 100 percent contractor-financing model …

The Director General of the Bureau of Public Enterprises (BPE), Mr. Alex Okoh has reiterated the resolve of the Bureau not to compromise on transparency and integrity in the sale and management of public assets in the country. Speaking at the joint kick-off meeting of the transaction advisers for the …

Vice President Professor Yemi Osinbajo on Thursday was at the Economic Recovery and Growth Plan Mid-Lab Syndication meeting in Abuja where he expressed satisfaction with the organization of the labs and the commitment of all participants towards achieving the overall goal of the exercise. During the launch of the Labs …

By Folasade Folarin Dr Ogho Okiti, President, Time Economics said the Monetary Policy Committee (MPC) retention of the Monetary Policy Rate (MPR), other policy parameters at existing levels was a “right step in the right direction’’. He said this in an interview with the News Agency of Nigeria (NAN) on …

By Chinyere Joel-Nwokeoma  FBN Holdings Plc on Wednesday attributed delay in filing of its Audited Financial Statements (AFS) for the year ended Dec. 31, 2017 on March 31 to peculiarity of the company’s holding structure. The organisation said this in a statement issued by Seye Kosoko, the Company Secretary to …

  By Yunus Yusuf  Mobil Producing Nigeria Unlimited (MPN) and Esso Exploration and Production Nigeria Ltd (EEPNL) have appointed Mr Udom Inoyo as Vice-Chairman of the board with effect from March 19. Mr Oge Udeagha, Manager, Media and Communications of Exxonmobil, announced the appointment in a statement he issued on …

By Adekunle Williams/Solomon Asowata   Two aviation unions on Monday urged the Federal Government to consider the interest of workers in the sector as it goes ahead with the plan to concession the four major airports in the country. The News Agency of Nigeria (NAN) reports that the unions are: …

 By Raji Rasak The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) on Friday assured motorists of regular supply of petroleum products during the Easter period and beyond. The Lagos Zonal Chairman of the union, Mr Tayo Aboyeji, gave the assurance in an interview with the News Agency of …

By Aisha Cole   The President, Association of Nigerian Licensed Customs Agents (ANLCA), Mr Iju Nwabunike, has called on the Federal Government to dredge the Eastern ports to attract more cargo and decongest the Western ports. Nwabunike, also a Director, Inland Container Terminal, Kaduna, made the call during his visit …

Mrs. Aisha Ahmad and Mr. Edward Lametek Adamu have formally assumed duty as Deputy Governors of the Central Bank of Nigeria (CBN), following the confirmation of their appointments last week by the Nigerian Senate. The trio of Professor Adeola Festus Adenikinju, Dr. Robert Asogwa and Dr. Aliyu Rafindadi Sanusi were …

By Oluwatope Lawanson The Nigerian Bar Association (NBA), Ikeja Branch, has restated its resolve to embark on another round of protest on March 29 over the reviewed Lagos Land Use Charge. The NBA Chairman, Mr Adeshina Ogunlana, said at a media briefing on Wednesday that in spite of the reduction …

By Racheal Ishaya The Minister of Finance, Mrs Kemi Adeosun says she is meeting with the NNPC GMD over discrepancies in payment into the Federation Account. This is coming after the Federation Account Allocation Committee (FAAC) meeting on Tuesday became  inconclusive due to discrepancies of about N37.76 billion in revenue …

By Ismaila Chafe President Muhammadu Buhari on Monday in Abuja inaugurated the National Food Security Council with a pledge to develop new programmes that would create more jobs in the agricultural sector. Speaking during the inauguration, the President pledged that his administration would remain focused in securing the nation’s food …

By Adekunle Williams and Solomon Asowata  The Minister of State for Aviation, Sen. Hadi Sirika, says Aviation Security (AVSEC) personnel of the Federal Airports Authority of Nigeria (FAAN) will soon be licensed to carry arms to complement other agencies in combating security threat. À statement signed by Mrs Henrietta Yakubu, …

The Northern States Governors’ Forum has held a meeting with the national leadership and state chapters of the Miyetti Allah cattle Breeders Association as part of efforts to find lasting solutions to the continued clashes between herders and farmers across the federation. The meeting, which held in Sokoto, had in …

By Stanley Nwanosike The Nigerian Port Authority (NPA) has appealed to importers and exporters to patronise ports in the Eastern flank of the county to decongest ports in Lagos. The NPA’s Managing Director, Hadiza Bala-Usman, made the appeal at the NPA Special Day at the ongoing 29th Enugu International Trade …

  By Racheal Ishaya  The Central Bank of Nigeria (CBN) on Friday sustained its intervention in the Foreign Exchange market by injecting 339.89 million dollars in the Retail Secondary Market Intervention Sales (SMIS) segment. The Acting Director, Corporate Communications Department, CBN, Mr Isaac Okoroafor in a statement on Friday, said …