Saturday 18th November 2017,
Hope for Nigeria

Browsing the "Economy" Category

Metering: FG issues NERC new regulations

Metering: FG issues NERC new regulations

The Federal Government has directed the Nigerian Electricity Regulatory Commission, NERC, to put measures that would allow power consumers buy meters from approved vendors. It also directed that unmetered consumers should be allowed to pay the last undisputed bill provided [...]

November 17, 2017 Power
IMF raises fresh concerns over Nigeria’s public debts, others’

IMF raises fresh concerns over Nigeria’s public debts, others’

Nigeria’s public debts: From the International Monetary Fund (IMF) yesterday again came a warning on Nigeria and two other African Nations’ rising public debt stock, projecting that a whopping 60 per cent of these Countries’ revenue may be used up [...]

November 17, 2017 Economy
Fourteen countries have been ranked ahead of Nigeria in Information and Communications Technology (ICT)

Nigeria ranks behind Mauritius, Seychelles, 13 others in ICT development

Fourteen countries have been ranked ahead of Nigeria in Information and Communications Technology (ICT) development in Africa. The International Telecommunications Union (ITU) stated this yesterday in a report on the 2017 ICT Development Index (IDI), which measured the information society. [...]

November 16, 2017 Technology
Truck Transit Park to gulp N4.8 billion

Federal Government’s Truck Transit Park to gulp N4.8 billion

Truck Transit Park to gulp N4.8 billion: The planned Truck Transit Park initiative of the Nigerian Shippers’ Council (NSC), would gulp over N4.8 billion, even as investors are jostling to secure a stake in the project. The Minister for Transportation, [...]

November 15, 2017 Business
Mystery buyer pays $36m for Aluko’s New York penthouse

Mystery buyer pays $36m for Aluko’s New York penthouse

Mystery buyer pays $36m for Aluko’s New York penthouse: A yet-to-be identified  buyer has paid $36million for the luxury penthouse at the One57 tower in New York formerly owned by wanted  Nigerian oilman Kola Aluko. Quoting Bloomberg,  Curbed reported that the 79th floor [...]

November 14, 2017 Business

Chinese shoppers spend record $25.3b in one day

Chinese shoppers spent a record $25 billion online on this year’s “Singles Day” promotion run by e-commerce giant Alibaba, up nearly 40 percent from last year, figures showed on Sunday. At the peak, 256,000 payments were being processed per second [...]

November 13, 2017 Business
Lagos State government

Lagos targets third largest economy by 2020, Africa’s mega city in 2025

With a target to become Africa’s third largest economy by 2020 and Africa’s model mega city in 2025, the Lagos State government has reiterated its commitment to sustain the existing partnership with the private sector. This it aims to do [...]

November 13, 2017 Economy
Buhari, Obaseki, Dangote discuss new investment prospects in Edo

Alaghodaro summit: Buhari, Obaseki, Dangote discuss new investment prospects in Edo

Alaghodaro summit:  President Muhammadu Buhari yesterday said that the Federal Government would pursue more business reforms to accelerate progress recorded in its recent Ease of Doing Business ranking, to properly position Nigeria in her march to become a post-oil economy. [...]

November 11, 2017 Business

‘Transition from firewood to gas to generate N10bn revenue by 2019’

Over $10billion will be generated for the economy from the switch of 50 per cent kerosene and firewood users by 2019, according to the Nigerian Liquefied Petroleum Gas Association (NLPGA). The group added that an estimated 500,000 to 1,000,000 jobs [...]

November 10, 2017 Business
Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN)

PENGASSAN warns FG against selling oil and gas assets to fund 2018 budget

Oil workers, under the aegis of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), have warned the Federal Government against selling profitable oil and gas assets as scrap to fund the 2018 budget. The trade union expressed its [...]

November 9, 2017 Oil & Gas
Nigeria can be a net exporter of skills to the West African Sub-region

Nigeria can be net exporter of skills – Gov Ahmed

Nigeria can be a net exporter of skills to the West African Sub-region by training youths to fill local and regional middle level manpower gaps. Kwara State Governor, Alhaji Abdulfatah Ahmed stated this during a meeting with the Vice Chancellor [...]

November 6, 2017 Economy
Nigeria Aviation

Aviation industry needs lawyers’ input to grow –Stakeholders

Legal practitioners and stakeholders in the aviation industry have said there is a need for the involvement of more lawyers in the industry, to improve the framework needed to grow the sector. The Chairman, Aviation Committee, Section on Business Law [...]

November 6, 2017 Transportation

How fake sellers of iPhones swindle victims using popular website – Lagos CP, Edgal

fake sellers of iPhones: The Police in Lagos has smashed an organised crime ring through which Nigerians buying phones on the internet were being robbed on a daily basis. Thirty-five-year-old Alade Olalekan and Olumide Oluwole, 31, contrived a means of [...]

November 3, 2017 Business
Abuja airport N61.2b terminal opens February 2018

Abuja airport N61.2b terminal opens February 2018

Abuja airport N61.2b terminal opens February 2018: All things being equal, the Nnamdi Azikiwe International Airport’s (NAIA) new terminal in Abuja will open for operations February next year. The terminal, built at the estimated cost of N61.2 billion ($200 million) [...]

November 3, 2017 Transportation
British Airways has offered to fly Nigerian yams to the United Kingdom

British Airways proposed to fly Nigerian yams to UK – Agric Minister, Ogbeh

The Minister of Agriculture, Audu Ogbeh, has said that British Airways has offered to fly Nigerian yams to the United Kingdom in a bid to sustain the export of the produce. Ogbeh, who disclosed this during the weekend in a [...]

October 30, 2017 Economy
Airtel Nigeria Vacancy – Apply Here!

Airtel Nigeria Vacancy – Apply Here!

Airtel Nigeria Vacancy: Airtel Nigeria (Airtel Networks Limited), a leading mobile telecommunication services provider in Nigeria and a member of Airtel Africa Group, is committed to providing innovative, exciting, affordable and quality mobile services to Nigerians, giving them the freedom [...]

October 27, 2017 Employment
Coca-Cola to invest $90m in Kenya

Coca-Cola to invest $90m in Kenya

Soft drinks maker, Coca-Cola, says it plans to invest up to 90 million dollars in Kenya over three years through 2018 to increase its product range in the region. In a statement on Tuesday in Nairobi, the company said the [...]

October 25, 2017 Business
Fayose Ayodele

Buhari’s sacking of Maina an afterthought – Fayose

Ekiti State Governor, Mr Ayodele Fayose has described President Muhammadu Buhari’s directive for the immediate disengagement of former Chairman of the Presidential Task Force on Pension Reforms, Mr Abdullahi Maina, as an afterthought. He said, “The President only acted to [...]

October 23, 2017 Employment

Court remands former agric institute head over N204.9m fraud

Justice Yemi Ajayi of Oyo State High Court, Ibadan, has ruled that a former executive director of the Institute of Agricultural Research and Training (IAR&T), Ibadan, Professor Benjamin Ogunbodede, be remanded in prison custody, following his alleged involvement in a [...]

October 22, 2017 Agriculture
Pumpkin and Benefits

Farmers Emphasise Economic Advantage of Pumpkin

Ugu (Fluted Pumpkin) farmers under the auspices of Pumpkins Growers, Processors and Marketing Association of Nigeria (PUGMAN) North-east zone have stated that the commodity (Ugu) if properly harnessed is capable of contributing to the country’s foreign exchange earnings, reduce the [...]

October 21, 2017 Agriculture
Obasanjo

Malabu Oil Deal: Investigators Reveal Roles Played

Obasanjo, Russian Pres. Putin, Gusau, Etete, And Ex House Of Rep Member, Bature. The Malabu oil scandal, which began in 1998 under the military regime of the late General Sani Abacha, had the quartet of former President Olusegun Obasanjo, General [...]

October 16, 2017 Economy
Marriott International continues expansion in Africa

Marriott International continues expansion in Africa, targets 200 hotels, 50,000 jobs

Marriott International has announced further expansion plans in Africa with seven new hotel signings. Marriott International was the first global chain to make a significant investment in Africa with the acquisition of Protea Hotels for $210 million in 2014. The [...]

October 13, 2017 Employment
International Monetary Fund

Breaking: IMF warns Nigeria, others over rising foreign debts

The International Monetary Fund has warned Nigeria and other oil-exporting countries over rising foreign debts, saying there is a need to make external borrowings sustainable. The Fund, however, commended Nigeria for the recent reforms aimed at reducing infrastructure gap in [...]

October 13, 2017 Finance
Yemi Osibanjo

Breaking: Politics I never approved NNPC contracts — Osinbajo

Vice President Yemi Osinbajo has denied approving the Nigerian National Petroleum Corporation contracts during the period of President Muhammadu Buhari”s medical vacation in London. Vice President Yemi Osinbajo has denied approving the Nigerian National Petroleum Corporation contracts during the period [...]

October 13, 2017 Economy
Muhammadu Buhari

Another $4.2 Billion missing in NNPC under Buhari. US Governance Institute Report.

A new report on Thursday said despite President Muhammadu Buhari’s attempt at ensuring transparency in the oil sector, the Nigerian National Petroleum Corporation, NNPC, still withholds billions in oil revenues from the government account. The report by the Natural Resource [...]

October 12, 2017 Oil & Gas
Kachikwu, Baru meet, agree on stronger oil sector regulation

NNPC Scandal: Kachikwu, Baru meet, agree on stronger oil sector regulation

NNPC Scandal: For a moment on Tuesday, the Minister of State for Petroleum Resources, Ibe Kachikwu, and the Group Managing Director, of the Nigerian National petroleum Corporation, NNPC, Maikanti Baru, appeared to set aside their differences to speak about ways [...]

October 11, 2017 Power
Aliko Dangote

Dangote reveals secret of business success

Africa’s richest man and most successful industrialist, Aliko Dangote, today revealed the secret of his business success: self-sufficiency and backward integration, a manufacturing strategy that extracts value from entire processes. “We are not going to import anything any longer,” Dangote [...]

October 10, 2017 Business
Vice President Yemi Osinbajo

Nigeria an investor’s delight, says Osinbajo

Vice President Yemi Osinbajo on Monday declared that  Nigeria is an investors’ delight as the Buhari Presidency is making specific efforts to enable the private sector to thrive. Prof Osinbajo stated this at the Financial Times Africa Summit  in London [...]

October 10, 2017 Economy
FCT authorities demolish Guzape Village

FCT authorities demolish Guzape Village

The FCT Department of Development Control on Friday demolished the Mountain Village in Guzape District in Abuja. The settlement which is at the city centre is situated behind Dantata Construction Company main Yard and besides the Special Anti-Robbery Squad (SARS) [...]

October 7, 2017 Real Estate
Femi Fani Kayode

$26 Billion Contract: Funds for Buhari 2019 campaign – Femi Fani-Kayode

ABUJA-Former Minister of Aviation and a chieftain of the Peoples Democratic Party (PDP), Chief Femi Fani-Kayode has stated that the $26 billion contract allegedly awarded by Dr. Maikanti Baru, Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) is [...]

October 5, 2017 Oil & Gas
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