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Tag Archives: Business

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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Enugu-Onitsha Expressway: Nwoye gets Fashola to order contractors back to site

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Dr. Tony Nwoye, the All Progressives Congress, APC governorship candidate in Anambra State, has expressed delight over the decision by the Federal Ministry of Power, Works and Housing to move to the site of the abandoned Onitsha – Enugu Expressway. Speaking after a visit to the Federal Ministry of Power, Works and Housing, on Monday morning, Nwoye said the ministry ...

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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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Don’t Treat NNPC Scandal With Levity, NUPENG Tells Buhari

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The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has called on President Muhamadu Buhari to wade into the allegations of corruption and insubordination raised against NNPC GMD, Maikanti Baru by the Minister of State for Petroleum, Ibeh Kachikwu and not treat the issue with levity. The group in a statement on Tuesday said the whole world is watching ...

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NNPC Scandal: I Approved Two Joint Venture Financing, Says Osinbajo

NNPC Scandal: I Approved Two Joint Venture Financing, Says Osinbajo

The Vice President, Professor Yemi Osinbajo says he granted authorisation to two ventures from the NNPC while President Muhammadu Buhari was away on medical leave. Professor Osinbajo said on Thursday, that the approvals were specifically for financing joint ventures through loans and not contracts. His reaction comes in the wake of the scandal rocking the Nigerian National Petroleum Corporation (NNPC) ...

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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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Borno gets N10.4bn for farmers’ support services from CBN – Official

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The Central Bank of Nigeria (CBN) on Friday said it had allocated N10.45 billion to augment farmer support services and encourage agricultural activities in Borno. Mr Mahmud Nyako, the CBN’s Development Financial Officer, told newsmen in Maiduguri that the amount was provided under the Anchor Borrowers Programme (ABP) initiated by the nation’s apex bank. Newsmen report that ABP scheme is ...

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Etisalat Nigeria approves Name Change to 9Mobile | NCC Yet to be Notified

Etisalat Nigeria approves Name Change to 9Mobile | NCC Yet to be Notified

Telecommunications firm, Etisalat Nigeria has changed its name to 9Mobile following the pull out of Etisalat International , confirming rumours that went around on Thursday. Etisalat in Abu Dhabi pulled out of Nigeria on Monday and gave the telecoms operations in Nigeria only three weeks to phase out the brand name and adopt a new one. Its decision to pull ...

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