Monday 25th September 2017,
Hope for Nigeria

Browsing the "Economy" Category

Light Nigeria

Poor state of energy sector: FG’s economic recovery growth plan in danger

Plan requires 10,000 mw, but supply stands at 3,417mw •Limited facilities, vandalism, energy theft, funds, others affect operations •CBN’s N701bn NEMSF facility inadequate •Lack of cost reflective tariff delays $2.5bn World Bank facility   LAGOS  – There are strong indica- [...]

September 25, 2017 General, Power
Governor Kashim Shettima

Shettima visits Africa’s largest net house in Borno, vows to boost agriculture

Governor Kashim Shettima, has assured that his administration will boost Borno’s economic potentials through agriculture. He said this is part of the government’s response to destructions of livelihoods by Boko Haram insurgents across the state. He spoke at the weekend [...]

September 24, 2017 Agriculture
Nigeria Biometrics

Insecurity: FG moves to harmonise biometric database of Nigerians

ABUJA— The Federal Government has intensified moves to harmonise the biometric database of Nigerians as part of measures to ensure greater security of the country.   Acting Secretary to Government of the Federation, SGF, Dr. Habiba Lawal, who disclosed this [...]

September 22, 2017 Technology
Nigerian National Petroleum Corporation (NNPC)

NNPC reacts to panic buying nationwide

The Nigerian National Petroleum Corporation (NNPC) has advised motorists across the country not to engage in any panic buying of petroleum products. A statement by Group General Manager, Public Affairs Division, Ndu Ughamadu, has assured that the Corporation has in [...]

September 19, 2017 Economy
Eko Disco to name culprits in media

Meter Bypass: Eko Disco to name culprits in media

Eko Disco to name culprits in media: The Eko Electricity Distribution Company Plc (EKEDCP) says it has launched “Operation Name and Shame’’ in its continued fight against energy theft within its area of operations. Mr Oladele Amoda, the Chief Executive [...]

September 17, 2017 Power
First Bank Nigeria Limited


INJUSTICE BEING DONE TO SUPPORT STAFF OF FIRSTBANK NIGERIA BY THE MANAGEMENT OF THE BANK In the year 2008, there was a need for the bank to recruit staff for tellering activities of the bank (the major banking service). The [...]

September 14, 2017 Finance
Aliko Dangote

Chief Dangote, Your Trucks Are Objects of Death, Pain And Misery

I set out for Onitsha from Lagos on August 15, 2017, I was informed that the journey would be deemed through, only after we had gone beyond the Benin Bypass.   This is because trucks, mainly Dangote trucks, had constituted [...]

September 8, 2017 Transportation
Tompolo Buhari

Tompolo asks Buhari: What’s the yardstick for Daura railway lines, helipad?

WARRI— Embattled former militant leader, Chief Government Ekpemupolo, alias Tompolo,  yesterday, asked President Muhammadu Buhari to tell Nigerians the economic importance of his hometown, Daura, to warrant his approval of  construction of  railway lines from Kano and Helipad with the [...]

September 6, 2017 Transportation
Lagos Trade Fair Complex

FG revokes concession of Lagos Trade Fair, approves Afam power plants’ privatisation

ABUJA—THE Federal Government, through the National Council on Privatisation, NCP, has approved the commencement of the privatisation of Afam Power plants 1-5 to inject additional power into the national grid and improve electricity nationwide.   Lagos Trade Fair complex The [...]

September 5, 2017 Economy
How to sustain domestic retail investors confidence

How to sustain domestic retail investors confidence — Shareholders

WE are happy that domestic retail investors are returning. This is because of what we see in the economy now. The government has shown that it has become more committed in improving the economy through the ease of doing business [...]

September 4, 2017 Finance
Ohanaeze faults Buhari on NNPC appointment

Ohanaeze faults Buhari on NNPC appointment

THE apex socio political Organization of Ndigbo, the Ohanaeze has taken a swipe at President Muhammadu Buhari following the announcement last week by the Nigerian National Petroleum Corporation, NNPC of major restructuring in its operations with the appointment and redeployment [...]

September 4, 2017 Oil & Gas
Electric Cars

Electric Cars To Be Introduced Into Nigerian Market By 2018

Nigus Enfinity, an indigenous firm, says it will introduce electric vehicles into the Nigerian automobile market in 2018 and that its local assembly plant for electric vehicles will be ready in 2020. Malik Ado-Ibrahim, chairman of the company, made this [...]

August 26, 2017 Transportation

Made In Aba Goods Get A Global Marketing boost

The recent campaign on the promotion of made in Aba goods by both the Abia State government and some members of the National Assembly representing the state has taken a new dimension as a Californian based firm, Comfort Stevens LLC [...]

August 15, 2017 Economy
Electricity Nigeria

THE Federal Government has given State governments autonomy to produce own power so as to ensure improved power supply in the country.

It said this is because nothing in the Electricity Power Sector Reforms Act EPSRA deter States from doing such. Speaking at the 18th monthly power sector operators meeting on Monday at the Kumbotso transmission station, Kano State, the Minister of [...]

August 15, 2017 Power
Olusegun Obasanjo

Why I head-hunted Okonjo-Iweala to become finance minister – Obasanjo

A former Nigerian president, Olusegun Obasanjo, has said some of the projects that constituted the Paris Club debt were dubious and fraudulent. Mr. Obasanjo also explained why he headhunted Nigeria’s immediate past finance minister, Ngozi Okonjo-Iweala, who also held that [...]

August 14, 2017 Finance
Goodluck Jonathan

Jonathan denies squandering over N11trn on electricity

Former president, Goodluck Jonathan has reacted to the report that he was among the past Nigerian leaders who wasted over N11tn on electricity. The Socio-Economic Rights and Accountability Project, SERAP, had on Wednesday disclosed how over N11 trillion meant for [...]

August 10, 2017 Power
Rotimi Amaechi

Abuja-Kaduna rail line now generate N1m daily – Amaechi

The Abuja to Kaduna rail line now generates one million Naira daily, Minister of Transportation Mr. Rotimi Amaechi disclosed.   In an interview with newsmen on Tuesday in Benin, Amaechi said the feat was because of the increase in passengers [...]

August 8, 2017 Transportation
Nigerian govt announces 27 industries to enjoy tax break under pioneer status

Nigerian govt announces 27 industries to enjoy tax break under pioneer status (FULL LIST)

The federal government on Monday released the full list of the 27 key industries and products included in the revised list of ‘pioneer status’ incentives for prospective investors. At the end of the meeting of the Executive Council of the Federation, FEC, [...]

August 8, 2017 Business
Lagos-Ibadan Standard Gauge Railway line

Govt. to create additional 7000 jobs for Nigerians

Sen. Gbenga Ashafa, Chairman Senate Committee on Land Transport has said that the ongoing Lagos-Ibadan Standard Gauge Railway line would create additional 7000 jobs for  Nigerians. Ashafa said on Monday during the oversight visit paid to the Nigerian Railway Corporation [...]

August 8, 2017 Employment
Audu Ogbe

Trouble looms if we don’t earn $15billion from non-oil export by 2020 – Audu Ogbe

Non-oil export is generating controversy as some Nigerians argue that the export of agricultural produce like yam would create scarcity in the local market and lead to price hike. Some even argue that Nigerians don’t have enough of the agricultural [...]

August 6, 2017 Economy

More than half of Nigeria’s VAT comes from Lagos — Adeosun

Finance Minister, Kemi Adeosun, said yesterday that more than half of Nigeria’s value added tax, VAT, comes from Lagos State alone.   Kemi Adeosun Speaking at the parley between the Federal Government and Progressive Governors Forum, PGF, in Abuja, Adeosun [...]

August 3, 2017 Finance
Artificial Intelligence

Artificial Intelligence: Why Nigerians Shouldn’t Fear Over Loss Jobs

Artificial Intelligence (AI) and Machine to machine are what we will be expecting in  the future! As machines become increasingly capable to to do things without supervision and having the abilities to take on some functions just like humans, AI  [...]

August 2, 2017 Technology
currency exchange rates

The Currency Exchange Rates For Today, August 1, 2017

The currency exchange rates for today, August 1, 2017,   [...]

August 1, 2017 Economy
Nigeria lost at least N9.74 billion in 2016

Nigeria loses N9.74b to public holidays in one year

Nigeria lost at least N9.74 billion in 2016 as a result of multiple public holidays observed during the year. The Guardian’s investigation revealed that in 2016 alone, about 15 national public holidays were observed, excluding others declared in some states. [...]

August 1, 2017 Economy
Nigeria - Saving our bridges from collapse

Nigeria – Saving our bridges from collapse

THE Federal Road Safety Corps, FRSC, has raised the alarm that gridlocks created by tankers, including other articulated vehicles on bridges in Lagos and other major cities are dangerous and capable of damaging them. The Lagos State Sector Commander, Mr [...]

August 1, 2017 Economy
Willie Obiano

How we made Anambra Nigeria’s 4th largest economy — Gov Obiano

ANAMBRA State governor, Chief Willie Obiano has said that without the determination of his team, the state would not have become Nigeria’s fourth largest economy, noting that he inherited a state with an average ambition.   He also stated that [...]

July 29, 2017 Economy
Lagos begins demolition of illegal structures in Obalende

Lagos begins demolition of illegal structures in Obalende

Lagos begins demolition of illegal structures in Obalende: Lagos state government Saturday morning commenced demolition of illegal structures and shanties at Obalende. Officials of the state stormed the area around 7:30am. Armed security agents are on ground to maintain law [...]

July 29, 2017 Business

Lagos Acquires 32 Tonnes Per Hour Rice Mill From Switzerland

Lagos State Governor, Mr. Akinwunmi Ambode on Friday in Zurich, Switzerland led a team of the State Executive Committee members to sign an agreement with Bühler AG (“Bühler”), a leading rice-mill producer in the world, for the acquisition of a [...]

July 29, 2017 Business
Ibadan railway station

Ibadan railway station begs for attention

One of the campaign promises of the present administration was to revive railway transportation system in the country. However, two years down the lane, the Ibadan railway station is near collapse and unable to meet the needs of travellers. Despite [...]

July 29, 2017 Transportation
Nigeria House of Senate

Senate Blasts MTN For Moving $14bn Out Of Nigeria, Wants Stanbic IBTC Punished

The Senate on Thursday said there was a capital flight of $13.92 billion by MTN Nigeria between 2006 and 2016. Senate confirmation was sequel to the consideration of the report of the Senate Committee on Banking, Insurance and Other Financial [...]

July 28, 2017 Finance