Lagos State Government has said that the deficit of N521.275 billion of the 2022 budget will be funded through N1.237 trillion targeted revenue. The Commissioner for Economic Planning and Budget, Mr Sam Egube, made this known on Friday in Ikeja, during a news briefing on the analysis of the...
BUSINESS
The Federal Government has projected a revenue target of N10.7trillion for the 2022 fiscal year. The Minister of Finance, Zainab Ahmed disclosed this on Tuesday at the public presentation and breakdown of the highlights of 2022 Appropriation Bill in Abuja. She said the figure is 32 percent higher than...
By TENEBE ANTHONIA, Lagos – Nigerian Exchange Limited (NGX or The Exchange) on Wednesday announced the listing by introduction of BUA Foods Plc on the Main Board of The Exchange. A total of 18 billion ordinary shares of BUA Foods were listed at N40.00 per share under the Consumer...
By EZEKIEL OBI, Abuja – The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has partnered Google DigitalSkill, alongside MindtheGap, to train about 3,700 Nigerian youths on digital skills. According to a statement issued on Tuesday in Abuja by SEMDAN’s Information and Communications Department, said that the training...
The Managing Director/Chief Executive Officer of First Bank Nigeria Limited, Dr. Adesola Adeduntan, last year saw his tenure extended as part of efforts to ensure the stability of the financial institution. In this interview with THISDAY, he speaks about the intervention of the Central Bank of Nigeria, the future...
Mr Mohammad Barkindo, Secretary General, Organisation of the Petroleum Exporting Countries (OPEC), says forecast for demand for OPEC crude in 2022 stands at 28.8 million barrels per day. The News Agency of Nigeria (NAN) reports that Barkindo spoke on Tuesday at the 24th OPEC and non-OPEC Ministerial Meeting (Videoconference)...
Nostalgic for those mobile phones with a physical keyboard? Brace yourself, because as of Tuesday many models of the once-indispensable BlackBerry devices will no longer work. The Canadian company has decided to pull the plug on new updates of its operating system, meaning most BlackBerries that became synonymous with...
Apple became the first US company to hit $3 trillion in market value, briefly reaching the landmark on Monday in the latest demonstration of the tech industry’s pandemic surge. The iPhone maker scaled the record level near 1845 GMT, reaching $182.88 a share before slipping back slightly. The tech...
Mr Mohammad Barkindo, Secretary General, Organisation of the Petroleum Exporting Countries (OPEC) says the organisation will be in capable hands with his successor, Mr Haitham Al Ghais. Barkindo made this known in a congratulatory message to Al Ghais, who is currently the Deputy Managing Director, International Marketing, Kuwait Petroleum...
The Federal Government’s plan to attain 95 per cent digital literacy by 2030 is on course. Mr Kashufu Abdullahi, the Director-General of the National Information Technology Development Agency (NITDA), made this known on Sunday at the graduation ceremony of 50 children, including 10 Almajiri children at the Engausa Global...
A total of $3.53bn has been paid by the Federal Government to five international oil companies as cash call arrears repayment to the IOCs, leaving an outstanding balance of $1.15bn. Latest status report on the Pre-2016 Cash Call Arrears Repayment to the IOCs as at October 31, 2021, seen...
American Corner, a United States Consulate initiative in partnership with Pelse consulting, have unveiled an accelerator programme for 50 Small and Medium Enterprises (SMEs) in Q1, 2022. The Managing Partner, Pelse Consulting, Mr Oluwafemi Boboye, made this known in an interview with the News Agency of Nigeria (NAN) on...
The Nigerian National Petroleum Company (NNPC) Limited has assured of its commitment to further deepen ties with its host communities as it begins activities for 2022. NNPC gave the assurance through the Nigerian Petroleum Development Company Limited (NPDC), one of its upstream subsidiaries. In achieving this, NPDC, recently organised...
Air travel continued to be severely disrupted in the United States on Saturday, with bad weather in parts of the country adding to the impact of a massive spike in Covid-19 infections fuelled by the Omicron variant. The United States had 2,723 cancelled flights, more than half of the...
Nigerian naira on Friday crashed to a new low against the dollar at the official market. According to TheCable, the currency exchanged N435 against the dollar at the official market. his is coming as the Central Bank of Nigeria (CBN) adjusted the country’s exchange rate on its website...
Federal Government of Nigeria through the Minister of State for Environment, Sharon Ikeazor, has said it would continue to collaborate with Nigerian Exchange Limited (NGX) to build a framework that will help issuers navigate climate disclosure and ultimately improve the climate data available to the investment and finance community....
American multinational technology company, Apple inc. has given it’s engineers a rare $180,000 Christmas bonus to stop them from joining rivals Meta (parent company of Facebook) and other IT rivals . Apple gave its engineers working in silicon design, hardware and select software and operations stock bonuses starting at...
Some capital market operators have listed events that will shape the stock market and the economy in 2022. Speaking with the News Agency of Nigeria (NAN) on Tuesday in Lagos, they said the market and the economy would be impacted by the Monetary Policy Committee, 2022 budget implementation, consumer...
By BARBARA KALU – The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is set to close out the 2020 marginal field bid round programme and has put in place all necessary machinery to progress the bid round exercise to conclusion in line with the Petroleum Industry Act 2021 (PIA). The...
For centuries, there have been heated debates over the sources of economic growth in developing economies and why some countries reflect strong economic growth compared to others. The hypotheses have often centred around crude oil, agriculture, revenues, private capital, bubbling stock market, stable security, low unemployment rate, high standard of...