Wednesday 29th March 2017,
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Browsing the "Economy" Category

‘We Imported N298m SUV, Sold To Senate’

‘We Imported N298m SUV, Sold To Senate’

AN official of an automobile marketing firm yesterday disclosed that the controversial Range Rover SUV whose ownership was ascribed to the Senate President, Dr. Bukola Saraki, was actually imported by his company on behalf of an oil major and subsequently [...]

March 28, 2017 Economy
Recession: Workers Await Review Of Minimum Wage

Recession: Workers Await Review Of Minimum Wage

Recession: With current economic hardship, there is no doubt that Nigerian workers are not finding things easy. Nigerian workers are anxiously waiting for the Federal Government to implement the proposed N45% increase in minimum wage requested by the organised labour. [...]

March 28, 2017 Economy
2016 Budget: Capital Releases To MDAs Hit N1tr

2016 Budget: Capital Releases To MDAs Hit N1tr

The Minister of Finance, Mrs. Kemi Adeosun, said capital releases to Federal Ministries, Departments and Agencies (MDAs) for the 2016 budget had reached a record N1 trillion. In a statement by the Director of Information, Ministry of Finance, Mr. Salisu [...]

March 27, 2017 Economy
Adidas Yeezy Boost

See What He Got After Ordering Kanye’s Yeezy 350 Boost…lol (photos)

Someone ordered for one of his trainers, the Adidas Yeezy Boost, and what was delivered was something entirely different. The delivered footwear looked like something fashioned out of a blanket. Lol, this is a serious bad market for Kanye West. [...]

March 26, 2017 Business
Osita Okechukwu

Osita Okechukwu: Buhari Will Win In 2019 As He Focuses On Giving Foods And Jobs To Nigerians

The Director General of Voice of Nigeria, Osita Okechukwu has said President Buhari will win his second term election because he is already addressing important issues affecting the country. Okechukwu said the president has strategies to win in 2019 and [...]

March 25, 2017 Economy
Century Power To Complete 1,500mw Power Plant In 2020

Century Power To Complete 1,500mw Power Plant In 2020

Century Power, a subsidiary of the Obijackson Group, Thursday, said its 1,500 megawatts (MW) power generation plant would be completed by 2020 and would start making a contribution to the national grid. The company in a statement in Abuja, said [...]

March 25, 2017 Power
Dr Budweiser: Why You Should Swallow Raw Garlic

77 Foreign Vessels Lift Nigerian Oil Without Tax Monthly – Ship Owners

The president, Nigeria Shipowners Association of Nigeria (NISA), Aminu Umar has said that Nigeria was losing a huge amount of money due to the fact that the foreign ship owners dominate the transportation of the country’s crude oil. According to [...]

March 25, 2017 Oil & Gas
6 GENCOs Generated Zero Electricity In 1 Week

6 GENCOs Generated Zero Electricity In 1 Week

The challenges bedeviling the power sector appear worsening as the Transmission Company of Nigeria, TCN, through the daily operational report of the National Control Centre, NCC, yesterday, reported that six power generating companies, GENCOs, failed to generate power in seven [...]

March 24, 2017 Power
Akwa Ibom Residents, Workers Relocate From Cities To Villages

Akwa Ibom Residents, Workers Relocate From Cities To Villages Due To Hunger And Unemployment

DISHEARTENED residents and civil servants at Uyo and other cities in Akwa Ibom State are re-positioning to nearby local communities, following severe food shortages and razor-sharp increases in the cost of living, occasioned by the current economic depression. The affected [...]

March 21, 2017 Economy
Traders In Tears And Pains As Goods Worth Millions Destroyed As Rivers Govt. Demolishes Popular Port Harcourt Market

Traders In Tears And Pains As Goods Worth Millions Destroyed As Rivers Govt. Demolishes Popular Port Harcourt Market

Rivers Govt. Demolishes Popular Port Harcourt Market – Traders in Rivers said they had lost goods worth millions of naira following the demolition of the Rumuwoji temporary market in Port Harcourt. Mr Eddy Bright, President-General, Rivers State Traders Union, told [...]

March 20, 2017 Business
Mr. Nduka Udeh

‘Lack Of Coordination Killing Export Business In Nigeria

For government to get the export sector right, the exchange rate must be look into, this formed the opinion of the chief executive officer of Simplified Corporate Logistics (SCL), Mr. Nduka Udeh in an interview with OLUSHOLA BELLO. In this [...]

March 19, 2017 Business
Osibanjo

The Presidency dumps China, goes for made-in-Aba products

Vice President Yemi Osinbajo didn’t hide his  conviction about Abia, the indisputable commercial nerve center of the South Eastern Nigeria when he unequivocally remarked: “Nigeria has no business with China if all hands are on deck to develop Aba as [...]

March 19, 2017 Economy
Crude oil deposits have been found in Bida

Crude Oil Deposits Found In Bida

Crude oil deposits have been found in Bida basin in Niger State. Professor Nuhu Obaje, the director of the Ibrahim Badamasi Babaginda University Research Centre, Lapai, made this known  on Thursday in Lagos. He said  his centre has informed the [...]

March 17, 2017 Oil & Gas
President Muhammadu Buhari

PMB Writes NASS For Additional $500m Eurobond To Fund Budget 2017

President Muhammadu Buhari has written to the National Assembly to seek for approval to issue an additional $500 million Eurobond to fund capital projects in the 2017 budget. This was revealed during a Senate session yesterday. The latest demand follows [...]

March 16, 2017 Economy
Military, MDAs Owe Power Companies N51 Billion

Military, MDAs Owe Power Companies N51 Billion

MDAs Owe Power Companies N51 billion – An audit report of debt by Federal Government ministries, departments and agencies (MDAs) to power distribution companies (DISCos) has revealed an indebtedness of N59.3 billion by top 100 customers, like defence, military and [...]

March 14, 2017 Power
Aliko Dangote Opens Coal Mine In Tanzania

Aliko Dangote Opens Coal Mine In Tanzania

Aliko Dangote Opens Coal Mine In Tanzania Aliko Dangote is now a coal miner as Tanzania has offered his Dangote Cement Company in the southeastern town of Mtwara, land to mine coal for its operations. Tanzania’s Ministry of Energy and [...]

March 13, 2017 Business
recession

Don’t Worry Recession Will End Before December, Says Fed Govt

Nigerians got yesterday some cheery news – the recession that has kept everyone panting will end before the year runs out. The yet to be passed 2017 Budget has been structured to achieve the goal, Budget and Planning Minister Udoma [...]

March 9, 2017 Economy
President Akufo-Addo

President Akufo-Addo Has Sacked 23,000 Ghanaian Workers Just 2 Months In Office

After promising to create jobs for the unemployed during his campaign last year, it has now emerged that President Akufo-Addo and his government has instead sacked 23,000 Ghanaian workers in its first two months in office. This was revealed by [...]

March 8, 2017 Employment
Lagos-Ibadan’s N458b Speed Rail Project Takes Off

Lagos-Ibadan’s N458b Speed Rail Project Takes Off

A major step to giving Nigerians a modernised railway was taken yesterday when Acting President Yemi Osinbajo inaugurated the construction of the Segment II of the Lagos-Ibadan Rail Project at the Nigerian Railway Corporation (NRC) Compound in Ebute Metta, Lagos. [...]

March 8, 2017 Transportation
Central Bank Nigeria

CBN orders banks to process retail forex demand within 24 hours

The Central Bank of Nigeria (CBN) yesterday ordered banks to process foreign exchange demand for Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) in all their branches within 24 hours. The CBN gave this order in a circular to [...]

March 6, 2017 Finance
Florence Seriki

Florence Seriki. Nigeria’s Pioneers In Information Technology Is Dead

One of Nigeria’s pioneers in Information Technology, Florence Seriki, is dead. She was the Chairman and Chief Executive Officer of Omatek Plc, the the first indigenous IT company to be listed on the Nigerian Stock Exchange. She died  at the Lagos [...]

March 6, 2017 Technology
Lagos-Kano Train Derails In Osogbo

Lagos-Kano Train Derails In Osogbo

Lagos-Kano Train Derails In Osogbo – The cargo section of a passenger train travelling from Lagos to Kano yesterday got detached from the main body and derailed in Osogbo, Osun State. Mechanical fault was suspected. News Agency of Nigeria (NAN) [...]

March 5, 2017 Transportation
Nokia 3310

NOKIA’S 3310 BACKS TO LIFE AS A MODERN CLASSIC (MUST SEE)

Nokia 3310 – Nokia has sold 126 million of its original 3310 phone since it was first introduced back in September, 2000. It was a time before the iPhone, and Nokia ruled with popular handsets that let you play simple [...]

February 27, 2017 Technology
Chief Audu Ogbeh

Chief Audu Ogbe – Nobody Is Hungry In Nigeria, We’re World’s 2nd Largest Rice Producer, To Soon Start Exporting Yams To China

The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, denied claims of hunger in Nigeria saying people who complain of hunger is a calculated attempt to smear the good image of the Buhari-led administration. He said yesterday in Abuja [...]

February 25, 2017 Economy
Osinbajo Discussed 2017 Budget With Saraki, Dogara, Economic Team

Osinbajo Discussed 2017 Budget With Saraki, Dogara, Economic Team

Acting President, Yemi Osinbajo has lobbied the President of the Senate, Senator Bukola Saraki and the Speaker of the House of Representatives, Yakubu Dogara on quick passage of the 2017 Appropriation Bill. The meeting between Osinabjo, the leadership of the [...]

February 24, 2017 Economy
SEE Nigeria’s Total Debt As Of December 31, 2016

SEE Nigeria’s Total Debt As Of December 31, 2016

The Director-General of the Debt Management Office (DMO), Dr Abraham Nwankwo said Nigeria’s total debt as at December 31, 2016 was 57.39 billion dollars (N17.36 trillion). He made this known when defending the agency’s 2017 budget before the Senate Committee [...]

February 17, 2017 Economy
Nigerians are in for more pain

More Pain, Hunger For Nigerians As Inflation Hits 18.72%

Nigerians are in for more pain and hunger as inflation appears unabated with sharp increase in the prices of major food items across the country. A report from the National Bureau of Statistics (NBS), yesterday, indicated that the inflation rate, [...]

February 16, 2017 Economy
Politicians, NNPC Staff Allegedly Forged Buhari’s Signature To Sell $19m Crude In China.

Politicians, NNPC Staff Allegedly Forged Buhari’s Signature To Sell $19m Crude In China.

A member of the House of Representatives, Mr Ehiozuwa Agbonayinma, has alleged that certain politicians in connivance with some staff of the Nigerian National Petroleum Corporation (NNPC) forged President Muhammadu Buhari’s signature in order to illegally sell crude oil from [...]

February 15, 2017 Economy
Niger Delta

FG To Work With Illegal Oil Refiners Rather Than Destroying – Osinbajo

The much sought peace in the Niger Delta may not be far from realisation, as the Federal Government has made a u-turn by deciding to work with illegal oil refiners, instead of destroying their refineries. Speaking, Tuesday, during a visit [...]

February 15, 2017 Oil & Gas
US To Invest $1b Into Nigeria’s Power Sector

US To Invest $1b Into Nigeria’s Power Sector

Power Africa, an initiative by the US government to light up Africa, on Tuesday said it was planning to invest about one billion dollars on the power sector in Nigeria, the programme’s coordinator, Mr Andrew Herscowitz said. Herscowitz announced this [...]

February 15, 2017 Business
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