The Chairman of the All Farmers Association of Nigeria (AFAN) in Sokoto State, Alhaji Jamilu Sanusi, says the state has the potential to generate N2 billion monthly through commodity levies. Sanusi disclosed this on Thursday, when he led the union officials on a courtesy visit to Gov. Ahmad Aliyu...
BUSINESS
By CALLISTUS OFFOR, Abuja – Nigerian Communication Commission (NCC) says the telecommunications and ICT services have contributed about N2.508 trillion to Nigeria’s GDP in the first quarter of 2023. A statement issued on Thursday by NCC Director, Public Affairs, Mr Reuben Muoka, said the Commission quoted the figures released...
By OLA MUDOPE, Lagos – The Lagos Internal Revenue Service (LIRS) and the Federal Inland Revenue Service (FIRS) have issued a public notice on the Memorandum of Understanding (MoU) signed by both agencies to establish a Joint FIRS and LIRS Audit and Investigation Team aimed at encouraging the exchange...
The National Oil Spill Detection and Response Agency (NOSDRA), has called on stakeholders in the petroleum industry to ensure the prevention of oil spillages in Nigeria. The Emir of Keffi, Dr Shehu Yamusa III, who is the Chairman, Governing Board, NOSDRA, made the call at a stakeholders’ meeting with...
The Nigeria Export Processing Zones Authority (NEPZA) says the licencing of Deep Blue Industrial Park in Lagos begins a regime of zero fossil energy emission in the country. The Managing-Director of NEPZA, Prof. Adesoji Adesugba, said this while handing over the Declaration Licence to Mrs Anita Omoile, the Managing-Director/CEO of Deep...
The National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE) has said the meeting held between it and Polaris Bank management over the sack of its members ended inconclusively. The Secretary-General, NUBIFIE, Mr Mohammed Sheikh, told the News Agency of Nigeria (NAN) on Wednesday in Lagos that the...
High interest rates and the Russian war in Ukraine continue to significantly slow global economic growth, according to a new report from the World Bank. Following growth of 3.1 per cent last year, the global economy would slow to 2.1 per cent in 2023, the World Bank said on...
As Nigeria mulls ways of diversifying its economy, Dr Bashir Jamoh, Director-general, Nigeria Maritime and Safety Agency (NIMASA) says the agency is working towards making blue economy Nigeria’s main source of revenue. Jamoh made this known while speaking with journalists on the sideline of the three-day Nigeria-Netherlands Economic Consultation...
MTN Nigeria Communications (MTNN) Plc has beaten Dangote Cement Plc, and others to emerge as the most profitable company in Nigeria in 2022 after making N553.97 billion. This is based on information gathered from the companies audited results released on the Nigerian Exchange (NGX). According to the NGX, Nigerian...
A Chieftain of the All Progressives Congress ( APC), Dr Haruna Gololo, has urged Economic and Financial Crimes Commission ( EFCC) to investigate immediate past Minister of Aviation over unpleasant discoveries on purported lunch of Nigeria Air aircraft. Gololo made the call while addressing a news conference in Abuja...
Naira remained constant on Tuesday, exchanging at N464.67 to the dollar at the Investors and Exporters’ window. The local currency did not change from its value on Monday, while the open indicative rate closed at N464.96 to the dollar on Tuesday. An exchange rate of N467 to the dollar...
The National Union of Banks, Insurance, and Financial Institutions (NUBIFIE) on Tuesday picketed the headquarters of Polaris Bank, Victoria Island, over alleged violation of workers’ rights. The Secretary-General, Mr Mohammed Sheikh, accused the bank management of sacking workers without following due process required by labour law. “We are here...
African Development Bank (AfDB) President, Dr Akinwumi Adesina, says Africa has the necessary partnerships and technologies to eradicate hunger. In a statement issued on the banks website, Adesina said what Africa needed was action, including robust financing to achieve this. He spoke during the opening session of the 8th...
Nigeria recorded N927.16 billion trade surplus between January and March 2023, says the National Bureau of Statistics (NBS). This is contained in the NBS Foreign Trade in Goods Statistics Report for Q1 2023 released in Abuja on Tuesday. In its report, the NBS said Nigeria’s total exports stood at...
U.S. tech giant Microsoft agreed to pay a 20 million U.S. dollars penalty to settle allegations it collected personal information from children without their parents’ consent. The U.S. Federal Trade Commission (FTC) alleged Microsoft collected personal information from children who signed up to its Xbox gaming system without notifying...
Nigeria and other members of the Oganisation of Petroleum Exporting Countries (OPEC) as well as the Non-OPEC members have agreed to cut production volumes to ensure global oil market stability. The aggreement was reached at the 35th Joint Ministerial Monitoring Committee (JMMC) meeting of OPEC held in Vienna, Austria...
By KAZEEM HASSAN, Yola – The newly unveiled national carrier, Nigeria Air, has revealed that it would soon make formal announcement for job opportunities as it continues to make preparations for commencement of commercial flights, which is projected to take place in the third quarter of this year. Nigeria...
The House of Representatives ad hoc committee investigating alleged loss of crude oil revenue has summoned the Managing Director of Nigeria Export Promotion Council (NEPC) over unremitted 1.67 billion dollars. The committee is investigating alleged loss of over $2 billion in revenue from illegal sale of 48 million barrel...
(The Dangote brand has, for the sixth consecutive year, been adjudged the most admired african brand among top 100 brands on the continent. The company announced the development in a statement signed by Mr Francis Awowole- Browne, corporate communications personnel, Dangote Group, on Sunday in Lagos. According to the...
The Independent Petroleum Marketers Association of Nigeria (IPMAN), has commended the Federal Government for approving importation of petroleum products by private firms. Mr Chinedu Anyaso, Chairman of IPMAN Enugu Depot Community, in charge of Anambra, Ebonyi and Enugu States, said this while reacting to the development in Awka on...