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Tuesday 20th March 2018,
Hope for Nigeria

Access Bank’s FY13 profit declines on surging operating expenses

Access Bank plc is a full-service commercial bank operating through a network of over 310 branches and service outlets located in major cities across Nigeria, sub-Saharan Africa and the United Kingdom. Listed on the Nigerian Stock Exchange in 1998, the [...]

May 5, 2014 Economy

Off with the kerosene subsidy, it’s a rip-off

To think that Nigeria, Africa’s top crude oil producer, imports a big chunk of its refined petroleum products such as petrol and kerosene is bad enough. But worse still is that despite the fact that the country’s spending on ‘subsidised’ [...]

May 5, 2014 Oil & Gas

Akwa Ibom Govt Partners Fidelity Bank In Development

Akwa Ibom Government has reiterated its readiness to partner  Fidelity Bank Plc in the areas of  education, health, infrastructure and entertainment.Governor Godswill Akpabio, who stated this Friday when the Chairman, Board of Directors, Fidelity Bank Plc, Chief (Dr.) Christopher Ezeh paid him [...]

May 5, 2014 Economy

Credit bureau operators, NASME move to improve SME financing

For several years in Nigeria, lending institutions, especially commercial banks, have been apathetic to lending to Small and Medium Enterprises (SMEs). One of the reasons given is that the rate of loan repayment default by SMEs is very high. As [...]

May 5, 2014 Finance

Transcorp, NNPC sign production sharing contract on OPL 281

Transnational Cor­poration of Nigeria (Transcorp) Plc, the national conglomer­ate with 300,000 Nigerian shareholders, and the Ni­gerian National Petroleum Corporation (NNPC), Fri­day signed a production sharing contract for the ex­ploration and production of OPL 281, under which Transcorp committed to a [...]

May 5, 2014 Economy

Eko Disco secures $150m for network expansion

Eko Electricity Distribution Company (EKEDC) has secured a $150 million facility to expand its network. Its  Managing Director, Oladele Amoda, disclosed this to the House Committee on Commercialisation and Privatisation,  when the committee visited him. The company, he said, plans [...]

May 5, 2014 Economy

NDIC, CBN bar new loans to debtors of closed banks

Indications have emerged that all debtors of closed banks with non-performing loans of a maximum of N250 million had been barred by the Central Bank of Nigeria from getting new loans from existing Deposit Money Banks. Some of these non-performing [...]

May 5, 2014 Economy

Smes Key To Development Of Niger Delta, Says SEC Boss

The Director-General of Securities and Exchange Commission (SEC), Ms Arunma Oteh, says Small and Medium Enterprises (SMEs) are essential to the development of the Niger Delta region. Oteh, who made the assertion in an interview with News Agency of Nigeria [...]

May 5, 2014 Business

Revamping Nigeria’s Power Sector

In size and economic status, Nigeria under the pre and post independence time was rated as the giant of Africa. Sadly, its inability to generate power to unlock its economic potential  tends to put such claims in doubt. In this [...]

May 5, 2014 Power

Domestic Investors Now Dominate Nigerian Stock Market – Okumagba

Mr Albert  Okumagba is the managing director, BGL Group and the chairman,planning committee,Third annual national workshop of Chartered Institute Of Stockbrokers (CIS). In this interview with Friday Atufe, he talked on the reasons for the fallouts and the crash of [...]

May 5, 2014 Business

Indonesia, Nigeria Trade Volume Hits N80.4bn

The Director of Indonesian Trade Promotion Centre (ITPC), Mr Pontas Tobing, on Sunday announced a trade volume of $588.2 million (about N80.4 billion) between Nigeria and Indonesia in 2013. Pontas told the News Agency of Nigeria (NAN) in Lagos that [...]

May 5, 2014 Business

Aviation Unions Set For Two-Day Warning Strike Against Planned Merger

Aviation unions on Sunday in Lagos said they would be going on a two-day national warning strike over the recent merger plan by the Federal Government of some agencies in the industry. The unions are the Air Transport Services Senior [...]

May 5, 2014 Technology

No Plans To Increase Fuel Price – Jonathan

President Goodluck Jonathan said in Abuja on Sunday that the Federal Government had no plans to increase pump price petroleum for now. Jonathan, who gave this assurance at a Presidential Media Chat, noted that such action could not be taken [...]

May 5, 2014 Business

Acute liquidity Hits Nigerian Stock Exchange

Acute liquidity has hit the Nigerian Stock Exchange (NSE) as a result of Central Bank of Nigeria (CBN)’s monetary policy which has increased cash reserve requirement on public sector deposit from 50 per cent to 75 per cent. The development [...]

May 5, 2014 Business, General
Abducted Nigerian Girls

Socio-political commentator Adetunji Omotola on abducted Nigerian Girls

The number of kidnapped schoolgirls missing in Nigeria has risen to 276, up by more than 30 from a previous estimate, police said, adding that the actual number abducted by Islamic extremists on April 14 was more than 300. Police [...]

May 3, 2014 General, Media representation

Lagos Hospital Fires 2 Nurses for Wearing Hijab

The National Orthopaedic hospital, Igbobi Lagos (NOHIL) has allegedly fired two nurses for wearing hijab while on duty. The nurses, Sekinat Sanusi and Fasilat Olayinka Lawal, are contesting their dismissal, stating that they wore their hijabs based on a policy set forth by the Nursing and [...]

May 3, 2014 Health issues

‘Nigeria Needs New Housing Policy’

A renowned Nigerian architect, Dr. Lanre Towry-Coker, has called on delegates at the on-going National Conference in Abuja to undertake a clinical review of the 1999 Constitution with regard to the provisions of the Land Use Act, which he said [...]

May 3, 2014 Technology

Nyanya Village Head Wants More Security Deployment

The Village Head of Nyanya in Abuja, Alhaji Haruna Shuaibu, on Friday, urged the Federal Government to deploy more security personnel to his domain to check the spate of bombings in the area. Making the appeal at the scene of [...]

May 3, 2014 Technology

Woman prematurely gives birth aboard plane on Spanish island after flight diverted

Aviation officials say a woman has given birth prematurely aboard a passenger plane after it was diverted to a Spanish resort island. The 30-year-old woman, who was in the 26th week of pregnancy, went into labor during the British Airways [...]

May 3, 2014 International

South African stocks hit life highs, Abil falls on profit warning

South African shares surged to life highs on Friday spurred on by the fastest growth in U.S. job growth data in more than two years, but African Bank took a divergent path, falling precipitously after warning of a half-year loss. [...]

May 3, 2014 Business

Ecobank to scrap dividend after fall

Pan-African lender Ecobank reported a 2013 pre-tax profit of $222 million, down 34 percent on the previous year and said it would not propose a dividend for 2013. Basic earnings per share from continuing operations stood at $0.60 compared to [...]

May 3, 2014 Economy

WTM Africa Supports Responsible Tourism Initiatives

THE inaugural World Travel Market (WTM) Africa, taking place at the Cape Town International Convention Centre (CTICC) from 2nd – 3rd May 2014 is following in the footsteps of its sister event World Travel Market by bringing Responsible Tourism to [...]

May 3, 2014 General

Making history… Port Harcourt finally becomes World Book Capital 2014

History was made Wednesday, April 23, as Port Harcourt, capital of Rivers State, became the first sub-Saharan African City to be named UNESCO World Book Capital. For one week, the bibliophiles, publishers and literary aficionados gathered in the city to [...]

May 3, 2014 General

NBS Warns Against Using GDP To Evaluate Poverty Rate

The National Bureau of Statistics (NBS) has urged Nigerians not to use the rebased Gross Domestic Product (GDP) to evaluate the unemployment and poverty rate in the country. The NBS Statistician-General, Dr Yemi Kale, gave the advice at the Securities [...]

May 3, 2014 Economy

Imoke hands out 5,000 laptops to civil servants

The Cross River State Government has presented 5000 laptops to civil and public servants in its bid to ensure a paperless civil service and build capacity to improve on service delivery. Governor Liyel Imoke, who handed out the laptops  during [...]

May 3, 2014 Technology

Crude Oil Lifting Contracts: Names of 36 Beneficiaries Revealed

The provisional names of the 36 companies that were awarded contracts to lift crude oil by the Federal Government through the Nigerian National Petroleum Corporation (NNPC) from June 1, 2014 to May 31, 2015 have been revealed. Although the list [...]

May 3, 2014 Oil & Gas

‘Inflation, interest rate stifle poultry growth’

The troubled poultry industry is not poised for a turnaround, the Vice-President (Agriculture) Association of Small Business Owners of Nigeria (ASBON), Mr Stephen Oladipupo,  has said. According to him, progress in the industry is stifled by inflation and high interest [...]

May 2, 2014 Economy

Illegal fishing causing job losses, say expert, report

Illegal fishing is causing the nation job losses  considering the number of households depending on the industry for their livelihood, a fisheries expert, Prof Martins Anetekhai, has said. Anetekhai, who is the former Dean ,Faculty of Science,Lagos State University (LASU), [...]

May 2, 2014 Economy

‘Why Nigeria cannot export cassava’

Nigeria cannot export cassava because of the high cost of production, Country Manager, Harvest Plus, Paul Ilona, has said. He said it is not profitable for farmers to export cassava at $220 (about N36,520) per tonne when locally the farmers spend [...]

May 2, 2014 Agriculture, Business

Health workers give govt 15-day strike notice

Health workers give govt 15-day strike notice – Health workers have issued a 15-day ultimatum to the Federal Government to implement outstanding agreements it entered into with them. They said they would go on an indefinites strike, if the government [...]

May 2, 2014 Economy