Tuesday 24th January 2017,
Hope for Nigeria

Browsing the "Economy" Category


Microsoft Warns Users Against The Use Of Windows 7

Microsoft yesterday encouraged business users to make the switch to a newer version of the operating system, claiming Windows 7 is no longer “fit” to be used in businesses. Th firm said Windows 7 “does not meet the requirements of [...]

January 18, 2017 Technology
Nigerian Liquefied Natural Gas (NLNG)

Cooking Gas Price Set To Crash As NLNG Discharges 13,000 Tonnes Of LPG

The skyrocketing price of cooking gas, which hit an all time high of N5,000 from N3,200 is to crash with the delivery of 13,000 tonnes of LPG by the Nigerian Liquefied Natural Gas (NLNG) Limited, in Lagos jetty at the [...]

January 17, 2017 Oil & Gas
Aliko Dangote

Dangote Aims 3,000 Jobs With Truck Assembly Plant

Aliko Dangote, Nigerian entrepreneur, aims to create 3,000 jobs with the establishment of a truck assembly plant in Ikeja, Lagos. The plant is the result of a partnership between the Dangote group and Sinotruck, a Chinese heavy-duty truck company. “The [...]

January 17, 2017 Business

BREAKING: Efforts To Save The Naira Have Crumbled. – IMF.

The International Monetary Fund (IMF) says efforts to save the Nigerian currency, the Naira by rationing foreign exchange have gradually crumbled and added that the challenges around foreign exchange in Nigeria have pushed inflation to double digits in Africa’s largest economy. [...]

January 15, 2017 Economy, Finance, International
Mrs Ada Ugo-Ndali

N1.7 Billion Subsidy Fraud: Oil Magnate Slumps In Court

Oil magnate Mrs Ada Ugo-Ndali slumped in the dock yesterday shortly before she was convicted of a N1.7 billion subsidy fraud by a Lagos high court sitting in Ikeja. Justice Lateefat Okunnu of a Lagos high court sitting in Ikeja [...]

January 14, 2017 Economy
cooking gas

Abuja Residents Queue Up To Buy Cooking Gas [Photos]

After queuing to buy petrol, kerosene and in some cases Diesel, Nigerians in Abuja are now queuing up to buy cooking gas.       The price of the essential commodity has skyrocketed from N3000 to N5,500 in the last [...]

January 14, 2017 Economy
National Electricity Regulatory Commission

Senate Rejects U.S. Based Professor As Electricity Commission Boss

The Senate has rejected the nomination of an American-based Nigerian professor, Akintunde Akinwande, as the head of the National Electricity Regulatory Commission. Mr. Akinwande was rejected for his failure to attend confirmation hearing. The decision was announced Tuesday. Other nominees [...]

January 11, 2017 Power
5 Tips On How To Impress Potential Employers

5 Tips On How To Impress Potential Employers

5 Tips On How To Impress Potential Employers: If you’re in the process of looking for a new job, you probably understand how important it is to impress potential employers in whatever way you can. However, when it comes to [...]

January 11, 2017 Employment
Nigeria’s aviation industry

Buhari Sacks Heads Of Nigerian Aviation Agencies

Four heads of agencies and colleges in Nigeria’s aviation industry have been sacked, according to a government statement. Those relieved of their jobs are the Managing Director of Nigerian Airspace Management Agency, NAMA, Emma Anasi; and the Director General of [...]

January 10, 2017 Employment

25 Items Banned From Being Imported To Nigeria (FULL LIST)

There are at least 25 items that have been banned from being imported into Nigeria. The list, circulated by the Finance Ministry on Friday, includes soaps, spaghetti and used fridges. The ban on the items was put in place by [...]

January 7, 2017 Economy
Diezani Alison-Madueke

Diezani, Former Petroleum Minister Forfeits $153.3 Million To Nigeria

Former Nigerian oil minister, Diezani Alison-Madueke, temporarily forfeited $153.3 million to the Nigerian government on Friday, the News Agency of Nigeria has reported. This was sequel to an order by a Federal High Court in Lagos. The seized money, according [...]

January 7, 2017 Oil & Gas

2017 BUDGET: Millions Of Naira To Be Spent On Buhari’s Kitchen (See Amount List)

2017 BUDGET: President Muhamadu Buhari’s government has budgeted a whooping sum one 100million plus for its kitchen utensils and food in the state house Aso Rock. The report specifically highlighted that N100, 820,300 is to be spent on the purchase [...]

January 3, 2017 Economy

Nigerian Kids Celebrating CHRISTMAS Drinking Beer

A group of children have been pictured celebrating Christmas in a grand style, somewhere in Benue State.     The above photo is currently making rounds online The above little children were spotted celebrating Christmas in their own “special” way somewhere [...]

December 30, 2016 Economy

Bank Says: There Is No Money To Pay Customers

The British experiment called Nigeria has finally collapsed and there is no sign of it being redeemed. Can you imagine that during this Christmas season when Nigerians as well as BIAFRANS, need their money deposited in Nigerian banks, Nigerian banks [...]

December 30, 2016 Economy
MASSOB Says: We Are Dying Of Hunger, Even At Christmas We Could Not Afford To Cook, We Want To Leave Nigeria

MASSOB Says: We Are Dying Of Hunger, Even At Christmas We Could Not Afford To Cook, We Want To Leave Nigeria

The Cross River State chapter of the Movement for the Actualisation of Sovereign State of Biafra, MASSOB, has claimed that people are dying as a result of hunger. In a statement issued in Calabar on Tuesday by its Public Relations [...]

December 29, 2016 Economy

2017 Budget: Presidency plans to spend N6.5bn on cars, animals, kitchen equipment, others

The Presidency has proposed a N6.5 billion capital expenditure with which to buy cars, kitchen equipment, feed the animals in the Villa zoo, and rehabilitate office, as well as, residential buildings.   Buhari Specifically, N100.8 million has been earmarked for [...]

December 25, 2016 Finance
Beat Tomato Rice

Customs Intercepts 102 Bags Of Plastic Rice, Beat Tomato Brand, In Lagos

The Federal Operations Unit, Ikeja, of the Nigeria Customs Service has intercepted 102 bags of plastic rice branded “Beat Tomato Rice” with no date of manufacture. The Customs Area Controller of F.O.U. Comptroller Mohammed Haruna, on Tuesday, December 20, 2016 [...]

December 22, 2016 Economy

Nigeria To Close Abuja Airport for 6 Weeks

  Abuja Airport: The Minister of State for Aviation, Hadi Sirika, says the Nnamdi Azikiwe International Airport, Abuja, will be closed for six weeks in February and March 2017 for total repairs on the runway. Mr. Sirika told journalists in [...]

December 21, 2016 Transportation

Passengers Stranded as Protesting Workers Shutdown Nigeria’s Largest Airline, Arik

There is currently an ongoing protest at the domestic terminal of the Murtala Muhammed airport in Lagos as workers shutdown operations. The staff of Nigeria’s largest airline, Arik, who are currently staging a protest, have reportedly shutdown its operations at [...]

December 20, 2016 Transportation

Nigeria Discovers Huge Crude Oil In Borno

Nigeria has discovered huge crude oil concentration in Borno State, North East, raising the hope of the region joining the league of oil producers. Lagos state recently joined the league of crude oil producers. Some states in the league are [...]

December 17, 2016 Oil & Gas

BREAKING: KIA Automobile Leaves Nigeria, As Buhari Crashes The Economy.

Nigeria, the world third fastest growing economy in 2013/2014 was hit with another sad news today, as a leading automobile company, KIA Automobile Nigeria may announce their intention to pull out of Nigeria if  the bad economy climate created by Buhari out-dated and hostile [...]

December 9, 2016 Business, Economy, General, Government and politics
Shipping Corporation of India (SCI)

India’s Biggest Shipping Company Resumes Iran Oil Transport With Insurance In Place

Shipping Corporation of India (SCI) will resume sailing to Iran this month after a four-year gap, transporting an oil cargo for a state-run refiner, the chairman of India’s biggest shipping company said on Tuesday. SCI stopped sailing to Iran in [...]

December 6, 2016 Oil & Gas
Nigeria Turns To China For War Planes, Others

Nigeria Turns To China For War Planes, Others

Concerned about global politics surrounding procurement of sophisticated arms from western countries, Nigerian Air Force is expecting arrival of war-planes and helicopters from Pakistan and Russia to boost its fleets. The Chief of Air Staff, Sadique Abubakar, made the disclosure [...]

December 5, 2016 Technology

Naira Further Weakens Against Dollars [See The New Rate]

As a result of a crackdown in the parallel market, currency traders and the persistent scarcity of the greenback, naira is further weakening against the United States dollar, Reuters has reported. The local currency fell 2.08 per cent week-on-week on [...]

December 3, 2016 Economy
Nigerian Senate Halts FGs Data Price Hike

BREAKING: Nigerian Senate Halts FGs Data Price Hike

The Nigerian Senate has condemned the proposed increase of data tariffs by telecommunications service providers, in line with the directive of the Nigerian Communications Commission, NCC. Rising from a plenary session on Wednesday, November 30, 2016, Dr. Bukola Saraki, the [...]

December 1, 2016 Telecomms
National Union of Iron and Steel Workers

Recession: 3,000 Steel Workers Lose Jobs, As Biggest Pipe Factory Shuts

3,000 Steel Workers Lose Jobs: The National Union of Iron and Steel Workers on Wednesday said 3,000 of its members lost their jobs in the last quarter of 2015 following closure of steel companies due to the recession.     [...]

December 1, 2016 Economy
Assets Management Company of Nigeria (AMCON)

Council Boss Charges AMCON on Premium Steel, Mines Reoperation

The potential for income generation and development of the Udu Local Government Area can only be enhanced when operations at the Premium Steel & Mines Limited plant are resumed; a reality that can only come to be when the Assets [...]

November 29, 2016 Economy
Nigerian Breweries Plc

Nigerian Breweries Plc: Investors Buck Slide in Share Price

It appears investors are no longer sure-footed on Nigerian Breweries Plc, NB, following conflicting signals from the last nine-month results, 9M’16. Though huge volumes of the stock are traded daily on the Nigerian Stock Exchange, NSE, the share price dynamics [...]

November 29, 2016 Business
Why Investors Shun Nigeria’s Oil Industry

Why Investors Shun Nigeria’s Oil Industry

Unfavourable fiscal regime, transparency issues and stringent fund repatriation mechanism have been cited as reasons for the low investment inflow into Nigeria’s oil and gas sector. Speaking on the worrisome trend that has kept the nation’s sector at low ebb, [...]

November 29, 2016 Oil & Gas
Director General of the Nigerian Broadcasting Commission, NBC

Alleged N2.9bn Scam: Court Okays Ex-NBC Boss, 3 Others For Trial Dec 13

ABUJA—The Federal High Court in Abuja,  yesterday, gave the Economic and Financial Crimes Commission, EFCC, the nod to dock the erstwhile Director General of the Nigerian Broadcasting Commission, NBC, on an amended 15-count criminal charge bordering on alleged N2.9 billion [...]

November 29, 2016 Economy

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