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BUSINESS

”Nigeria to ban rice importation this year” President Buhari

President Buhari says people responsible for the fuel scarcity during this festive period will not go unpunished

President Buhari in his New Year speech delivered in a live broadcast this morning, disclosed that the Federal government will stop the importation of rice beginning from this year. ”Two years ago I appealed to people to go back to the land. I am highly gratified that agriculture has picked up, contributing to the government’s effort to re-structure the economy. ...

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Kogi Rice, a success story – Fanwo

Kogi Rice, a success story – Fanwo

The Director General on Media and Publicity to the Governor of Kogi State, Kingsley Fanwo has hailed the emergence of Confluence Rice as “a huge success by the Governor Bello Administration”. Addressing a section of the media at his Takete Ide country home, Fanwo said the release of the rice to the market is a “fulfillment of the promise by ...

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Nigerian Ports Authority made 118billion in just three months

Nigerian Ports Authority made 118billion in just three months

The Managing Director of the Nigerian Ports Authority, Ms Hadiza Bala Usman has disclosed that the agency enjoyed a productive year and is set to exceed its revenue target. She made this known at the merit service award in Lagos where she also revealed that the agency raked in 118billion in the first quarter of the year. The director gave ...

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Gov. Ibikunle Amosun and Godwin Emefiele lead stakeholders to unveil Unilever Nigeria’s new manufacturing plant

Gov. Ibikunle Amosun and Godwin Emefiele lead stakeholders to unveil Unilever Nigeria’s new manufacturing plant

Ogun State Governor, Senator Ibikunle Amosun, Governor, Central Bank of Nigeria, Godwin Emefiele, Commissioner of Commerce and Industry, Ogun State, Otunba Bimbola Ashiru, were among the stakeholders that joined executives and staff of Unilever Nigeria to officially open the innovative Blue Band manufacturing plant in Agbara, Ogun State. During the launch, The Executive Vice President, Unilever Ghana Nigeria, Yaw Nsarkoh, ...

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2 oil wells in Shell’s field shut down in Bayelsa by community members

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Some members of a community in Bayelsa on Wednesday disrupted oil production at Adibawa Oil field operated by Shell Petroleum Development Company (SPDC), shutting two oil wells. A reliable source, who pleaded anonymity, that the protesters were from Tanbiri II, Biseni in Yenagoa who were demanding power supply from the nearby oil facility. NAN gathered that two oil wells, Adibawa ...

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Made-in-Aba products have rejuvenated our economy — Ikpeazu

Made-in-Aba products have rejuvenated our economy — Ikpeazu

Governor Okezie Ikpeazu of Abia State yesterday said that with the increasing patronage of Made- in- Aba products, the city would rise again and reclaim its lost glory as a centre of trade and manufacturing. The governor, who spoke at the investiture of the 15th President of the Aba Chamber of Commerce, Industry, Mines and Agriculture, ACCIMA, Mr. Andy Uba ...

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Edo boosts IGR with tourism

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Edo State Government has revealed plans to excavate the historic Benin Moat, which is the world’s longest man-made earthwork, and develop more than 58 other tourist sites in the state to boost earnings from the tourism sector. The Commissioner for Arts, Culture and Diaspora Affairs, Osaze Osemwegie-Ero, who disclosed this in Benin City, said part of the state’s investment potential ...

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Facebook constitutes Africa’s first SME Council in Nigeria

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IN its continuing bid to help boost small and medium enterprises (SMEs) in Africa, Facebook, last week, launched the Nigerian SME Council, first of its kind in the continent. Abi Williams, Facebook’s SMB Sales Manager, EMEA, noted at the launching that the Nigerian SME Council brings together Facebook Africa’s SME team and Nigerian business owners from a range of industries, ...

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Breaking: FG to commence crude oil tracking by 2019

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The Federal Government, Moday, stated that from 2019, the country would begin tracking Nigeria’s crude oil and would be able to account for every drop of the commodity produced in the country. Minister of State for Petroleum Resources, Mr. Ibe Kachikwu, in a podcast distributed to newsmen in Abuja, disclosed that the Federal Government was already working with the Department ...

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Nigeria loses $13.7bn annually to farmers, herdsmen conflicts, says Abdulsalami

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A former Military Head of State Abdulsalami Abubakar says Nigeria loses 13.7 billion dollars annually as a result of farmers-herdsmen conflicts in Benue, Kaduna, Nassarawa and Plateau states. Abubakar made the disclosure at a forum organised by Search for Common Ground, Nigeria, in collaboration with Abdulsalami Abubakar Institute for Peace and Sustainable Development. The forum, with the theme, Amplifying the ...

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Nigeria’s inflation rate to fall to single digit in mid-2018, says Emefiele

Nigeria’s inflation rate to fall to single digit in mid-2018, says Emefiele

Nigeria’s Central Bank Governor Godwin Emefiele said on Friday he expected inflation rate to fall at a faster pace and hit high single digit rates mid-next year. “We are very optimistic that food prices will come down and as they come down, it will help to complement the reduction in core inflation,” Emefiele told journalists on the sidelines of an ...

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Dangote Cement’s N272bn debt is short term, considering Eurobond issue – CFO

Dangote Cement’s N272bn debt is short term, considering Eurobond issue – CFO

Dangote Cement Plc is considering a Eurobond or a local debt issue giving the fact that N272.3 billion of its debt is on short term facility and will make a decision towards the end of the year on which fund raising it will embark upon, its chief financial officer, Brian Egan, said yesterday. Egan told Reuters that 70 per cent ...

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Benue releases N166m for rice, cassava production

Benue releases N166m for rice, cassava production

Benue State government has release N166 million as counterpart fund to the International Fund for Agricultural Development-Value Chain Development Programme, IFAD-VCDP, to boost activities of rice and cassava small-holders farmers. Governor Samuel Ortom said this at the organisation’s Trade Promotion and Know-ledge Fair in Makurdi. Represented by the Secretary to the State Government, Professor Tony Ijohor, Governor Ortom reiterated the ...

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FG to shut down NERFUND over N17.5bn bad loans

FG to shut down NERFUND over N17.5bn bad loans

The Federal Government is making arrangements to shut down the operations of the National Economic Reconstruction Fund (NERFUND) at the end of October due to huge non-performing loans of about N17.5 billion. A competent source at the Federal Ministry of Finance told newsmen on Thursday in Abuja that a committee had already been formed to ensure smooth liquidation of the ...

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Electricity tarrif hike: Labour threatens to shut down economy

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The organised labour yesterday threatened to paralyze the nation’s economy if the Federal Government should go ahead with the planned hike on the electricity tariff. The organised labour was of the belief that such planned increment would lead to the closure of factories as well as unprecedented unemployment. National President of Non-Academic Staff Union Of Educational and Associated Institutions, NASU, ...

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Nigerians will feel the exit from recession gradually – NBS boss, Yemi Kale

Nigerians will feel the exit from recession gradually – NBS boss, Yemi Kale

Yesterday the National Bureau of Statistics (NBS), announced that the economy is out of recession. Many Nigerians welcomed the news but also added that the effect of exiting the recession has not yet been felt by the common man as cost of living is very high. President Buhari in his reaction to the news, also said that until coming out ...

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Buhari’s administration is working, results are showing – Minister of Information, Lai Mohammed

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Minister of Information and Culture, Lai Mohammed, has said the Buhari Administration is working and the results are showing in the various sectors of the economy. The Minister stated this at the 4th Annual Conference of the Association of Communication Scholars and Professionals of Nigeria (ACSPN) in Kano on Wednesday, noting that pulling Nigeria out of recession was not by ...

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C-River launches 3 agro-cultural festivals to boost tourism

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Cross River State Government has restated its commitment to boost tourism through agro-cultural festivals in the three senatorial districts of the state, adding that it had created three new Agro-Cultural Festivals to boost its tourism potentials. The festivals, which include Leboku, adopted for the Central district, Otumobong for the Southern district and a yet-to-be-named festival for the Northern zone, will ...

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Wine bottle recycling plant established in Jos

Badoo Members Strike Again In Ikorodu, Kill Family Of Five

A wine bottle recycling plant has been established in Jos, the Plateau capital, newsmen report. Our correspondent, who visited the firm, observed wine bottles being cut into various shapes and sizes and turned into cups, candle lights, lamp holders, fibre glass and flower vessels. Other items produced from the recycled wine bottles included mini jugs, interior and exterior decorations, decorative ...

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Photos: Governor Ortom launches sacks and modus for measurement of grains and fruits produce in Benue State

Governor Ortom launches sacks and modus for measurement of grains and fruits produce in Benue State

Benue State Governor, Samuel Ortom had launched sacks and mudus for grains and fruits  produce in the state. The Governor assured farmers that his administration will do everything lawfully possible to ensure that they get value for their produce. Ortom gave the assurance on Tuesday, at the Makurdi International Market during the official launch of Benue State Unified Standard Weights ...

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