The three tiers of government – the Federal, States and Local Government Councils (LGs), shared a total of N4.37 trillion from the Federation Account as statutory revenue allocations between January and June 2023. This is contained in the latest report by the Nigeria Extractive Industries Transparency Initiative (NEITI)...
BUSINESS
The Minister of Aviation and Aerospace Development, Mr Festus Keyamo, has ordered that the old international terminal of Murtala Muhammed International Airport (MMIA) in Lagos be shut down by Oct. 1. The News Agency of Nigeria (NAN) reports that Keyamo gave at directive during an on-the-spot facility tour...
Introduction: As a seasoned entrepreneur and former Senior Assistant to Governor Gabriel Suswam, I have witnessed firsthand the challenges faced by entrepreneurs and identified key areas where government interventions can boost business growth. This presentation focuses on unlocking the entrepreneurial potential in Benue State through strategic policies, infrastructure development,...
BY BARBARA KALU, Port Harcourt – The South South Reawakening Group (SSRG), has commended President Bola Tinubu for his visionary and strategic decision to re-appoint Dr. Samuel Ogbuku as the Managing Director/Chief Executive Officer of the Niger Delta Development Commission (NDDC). In a statement by its convener and Chairman...
It gives me a great pleasure to give this address at the second edition of the Nigerian Telecommunications Indigenous Content EXPO (NTICE), the only telecom event in Nigeria that is solely focused on Indigenous Content promotion, development and adaptation. This year’s event themed “Harnessing Indigenous Content for Economic Growth;...
The Nigerian capital market on Tuesday gained by N510 billion, closing at N39.69 trillion from N36.21 trillion recorded on Monday. Consequently, the market capitalisation increased by 0.51 per cent, making the market to hit a 15-year high. Also, the All-Share Index (ASI) of Nigerian Exchange Ltd. (NGX)...
The naira depreciated against the dollar on Tuesday as it exchanged at N775.34 at the Investors and Exporters window. The naira lost by 0.42 per cent compared to the N772.12 it exchanged for the dollar on Monday. The open indicative rate closed at N769.66 to the dollar...
By MBAFAN ADE, Lagos – MTN Nigeria has signed a 5G2Business Memorandum of Understanding (MoU) with Seplat Energy to deploy 5G services to facilitate business optimisation. The 5G2Business MoU attests to unprecedented advancements in business digital transformation. 5G will enable businesses to unlock new efficiencies, automate processes,...
The Minister of the Federal Capital Territory (FCT), Abuja, Mr Nyesom Wike, says the FCT Administration (FCTA) will pay N825.8 million as compensation for the construction of second runway for Nnamdi Azikiwe International Airport, Abuja. Wike stated this in Abuja on Tuesday, while briefing newsmen at the end...
President Bola Tinubu and the Federal Capital Territory Minister, Nyesom Wike, are among dignitaries expected to attend the 16th Annual Banking and Finance Conference organised by the Chartered Institute of Bankers of Nigeria (CIBN). Mrs Bukola Smith, Chairperson, Consultative Committee of the 16th Annual Banking and Finance Conference...
More than 85 per cent of Nigeria’s graduates have no digital skills, a survey by GetBundi, an online education technology outfit, has shown. The outcome of the survey, according to Mr Osita Oparaugo, the Chief Executive Officer of the outfit, shows that the more than 100 million young...
The Federal Government has no intention to borrow from any local or foreign organisation with its removal of subsidy on petrol and exchange rate harmonisation. The Minister of Finance and Coordinating Minister for the Economy, Chief Wale Edun, revealed this at the end of the inaugural Federal Executive...
By CALLISTUS OFFOR, Abuja – The Nigerian Communications Commission (NCC) says the Emergency Communications Centres (ECC) being implemented by the commission is currently providing employment opportunities for many Nigerian youths and professionals. The Commission also noted that the Centres were offering informal business activities to the citizens...
An oil theft situation assessment delegation deployed in the Niger Delta by President Bola Tinubu discovered an illegal oil connection on Saturday. From the illegal connection discovered at Owaza in Abia, Nigeria loses an average of 7.2 million dollars monthly, the Nigerian National Petroleum Company Ltd. stated on...
The Chief Executive Officer of 11 Plc, Mr Tunji Oyebanji, has enjoined Nigerians to convert their petrol-powered vehicles to Compressed Natural Gas (CNG) ones, noting that it is affordable and economical. Oyebanji gave the advice in an interview with the News Agency of Nigeria (NAN) on Sunday in...
The Independent Petroleum Marketers Association of Nigeria (IPMAN), has condemned what it described as the attempt by State governments to take over the role of the regulator of the downstream petroleum operations in Southeast. Mr Chinedu Anyaso, chairman of IPMAN, Enugu Depot, in charge of Anambra, Ebonyi and...
The Arewa Oil and Gas Marketers Association (AROGMA), said it has concluded arrangements to invite foreign companies to invest in the domestic gas utilization value chain in the country, especially in the northern part of the country. The Chairman of AROGMA, Alhaji Bashir Dan-Mallam, made the disclosure at a...
Minister of State, Petroleum Resources, Heineken Lokpobiri, said the Port Harcourt Refinery would resume production by December with a target of 54,000 to 60,000 barrels of refined petroleum products per day. Lokpbiri gave the assurance on Friday during a facility inspection of the refinery. He said that...
The Federal Government has reiterated its commitment to end petroleum product importation soon, as efforts are being redoubled to restore the nation’s local refining capacity. The Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, made this known during an inspection of the rehabilitation work at the...
The World Bank has come under criticism from Ugandan opposition leader Robert Kyagulanyi, alias Bobi Wine, for selectively championing gays rights and ignoring others. On August 8, 2023, the global lender halted new loans for Uganda’s development projects, following the country’s enactment of Anti-homosexuality Act, 2023. The move will affect...