Wednesday 19th June 2019,
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Browsing the "Economy" Category

CBN To Blacklist Importers Of Palm Oil

Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items

CBN To Blacklist Importers Of Palm Oil President Muhammadu Buhari has directed the Central Bank of Nigeria to blacklist from the banking system any firm, its owner and top management caught smuggling or dumping any of the 43 items that [...]

June 16, 2019 Business
Rivers State University Job Vacancies 2019

Rivers State University Job Vacancies 2019 (Full List)

Rivers State University Job Vacancies 2019 Rivers state University has advertised massive job vacancies for qualified candidates into the academic and non-academic cadre of the University’s workforce. Applications are invited for the position below: Job Title: Graduate AssistantLocation: Port Harcourt, [...]

June 16, 2019 Employment
Nigeria To Save N20bn Annually In Local Shoe Production

Nigeria To Save N20bn Annually In Local Shoe Production

The Director General, DRDB, Air Vice Marshal Jomo Osahor said the Memorandum of Understanding (MoU) between the Nigerian Institute of Leather and Science Technology (NILEST), Kaduna State, and Defence Research and Development Bureau (DRDB) on research and development of footwear [...]

June 9, 2019 Business
minimum wage

Minimum Wage: Crisis Looms In States Over Execution

As new governors settle for duties after inauguration, the likelihood of some states defaulting on the new minimum wage is getting clearer by the day. Sunday Ojeme reports Despite the seeming silence by the Nigerian Governors’ Forum (NGF) over the [...]

June 8, 2019 Economy

Akeredolu Commissions Computerised Vehicle Inspection Center In Ondo (photos)

As part of his administration's commitment to the protection of lives and properties of road users from unwarranted Road accidents, the Ondo State governor, Arakunrin Oluwarotimi Akeredolu, SAN, has commissioned a new Computerised Vehicle Inspection Center. The new computerised Vehicle [...]

May 25, 2019 Transportation
South West Pensioners To Sue Governors Over Non-payment Of Gratuities

South West Pensioners To Sue Governors Over Non-payment Of Gratuities

The Nigeria Union of Pensioners, South West Zone has vowed to sue state governors in the country over non-payment of gratuities. NUP said the gratuity was for their members across the country from 2008 till date. Ayo Kumapayi and Olusegun [...]

May 24, 2019 Employment
Donkey Skin In Lagos

Customs Seizes N15billion Worth Of Donkey Skin In Lagos

Customs operatives attached to the Federal Operations Unit in Lagos have seized two containers of donkey skin known locally as ponmo (hides), valued at N15 billion. Controller of the unit, Aliyu Mohammed, told journalists at a media briefing today that [...]

May 23, 2019 Business
Why EFCC Is Prosecuting Naira Marley – Magu

Why EFCC Is Prosecuting Naira Marley – Magu

Ibrahim Magu, the acting Chairman of the Economic and Financial Crimes Commission, EFCC, on Wednesday spoke on prosecution of popular musician, Afeez Fashola, aka Naira Marley. A statement by EFCC spokesman, Tony Orilade, quoted Magu as saying Naira Marley was [...]

May 23, 2019 Economy
Nigeria Electricity Generation

Nigeria Electricity Generation Falls To 2,616MW, Six Plants Idle

Nigeria electricity generation has fallen to 2,616MW as it was further gathered that six power plants in different parts of the country are idle.  The total power generation declined to 3,978.5MW as of 6.00am on Monday from 4,297MW on Sunday. [...]

May 23, 2019 Power
Air Peace De-board Passenger For Asking Attendant To Translate Safety Instructions To Igbo Because 'He Does Not Speak English'

Air Peace De-board Passenger For Asking Attendant To Translate To Igbo Language

Air Peace De-board Passenger For Asking Attendant To Translate Safety Instructions To Igbo Because ‘He Does Not Speak English' passenger with Air Peace was today de-boarded by the airline over claims that he could not communicate in English during safety [...]

May 21, 2019 Transportation

PMB To Commission 1MW Solar Power Plant At FUNAI, Ebonyi State (Pictures)

President Muhammadu Buhari would soon be at Alex Ekwueme Federal University Ndufu-Alike Ikwo (AE-FUNAI) in Ebonyi State to commission a 1MWsolar power plant built in the university by the Federal government. Also to be commissioned by the president is eight-kilometre [...]

May 21, 2019 Technology
"For Sale" Sign On Moving Vehicles Illegal

“For Sale” Sign On Moving Vehicles Illegal – FCT VIO

Federal Capital Territory Directorate of Road Traffic Services (VIO) says pasting “For Sale” sign sticker on moving vehicles as a way of marketing was illegal and a violation of the law. Mr Kalu Emetu, the directorate’s Public Relations Officer made [...]

May 21, 2019 Business
Microsoft Corporation Visits Abuja

Microsoft Corporation Visits Abuja, Launches Africa Development Centre In Lagos

Microsoft Corporation visited the Nigerian Investment Promotion Commission (NIPC) on Friday, May 18, to discuss their plans for Nigeria. The Microsoft delegation was led by the Executive Vice-President of Gaming, Phil Spencer and was received by the Executive Secretary/CEO of [...]

May 21, 2019 Technology
Nigerian Stock Exchange

Investors Lose N140.86 Billion As Nigerian Stock Exchange Continues Tanking

The Nigerian Stock Exchange (NSE) opens the week tradings' on a  bearish note. The All Share-Index (ASI) declined by 1.26% to close at 28,484.44 basis points. Year-to-Date the ASI was down by 9.37%.  The equity market capitalization closed at N10.701 [...]

May 16, 2019 Economy

CPI: Inflation Increases By 11.37% In April 2019; 0.12% Higher Than March 2019 Rate

The consumer price index, (CPI) which measures inflation increased by 11.37 per cent (year-on-year) in April 2019. This is 0.12 per cent points higher than the rate recorded in March 2019 (11.25) per cent. Increases were recorded in all COICOP [...]

May 15, 2019 Economy
cooking gas

Nigerians Paid Less For Cooking Gas In April 2019

The price of cooking gas in Nigeria decreased by -0.87% month-on-month and decreased by -0.57% year-on-year, a National Bureau of Statistics, NBS, report has shown. The report titled, Liquefied Petroleum Gas, LPG, (Cooking Gas) price watch, was published on Tuesday [...]

May 15, 2019 Oil & Gas
Lagos-ibadan Rail Project

Contractors Successfully Completed 123 Km Of 156 Km Lagos-ibadan Rail Project

The Minister of Transportation, Mr Rotimi Amaechi, said 123km of the 156 km stretch of the Lagos-Ibadan standard rail project has been completed. Amaechi made the disclosure on Friday during his routine inspection of the project along Kila, Olodo, Ilugun [...]

May 11, 2019 Transportation
Nigeria Electricity Generation

Do Not Pay For Electricity After 2 Weeks – NERC Announces New Regulations

The Nigerian Electricity Regulatory Commission, NERC, has approached Nigerians not to pay for meter administration charge and the power bill if there is blackout for over about fourteen days. NERC said that the Meter Asset Provider (MAP) guideline had halted [...]

May 11, 2019 Power

FG Drags Agip And Brasoil To The Court Of Appeals For Undeclared Crude Oil Shipment

The Federal Government, on Wednesday, documented a Notice of Appeal, testing the choice of a Federal High Court Lagos, which expelled an obligation recuperation suit it recorded against Nigeria Agip Oil Company Ltd, and Brasoil Services Company Nigeria Ltd over [...]

May 9, 2019 Oil & Gas
BRT Buses

New Lagos BRT Buses Begin Operations At The New Oshodi Bus Terminus

The Lagos State Government seems to have kicked start the using of the new 820 BRT buses at the new Oshodi Terminus. The edifice which was commissioned in April by Pres. Buhari seems to be in use for conveying passengers [...]

May 8, 2019 Transportation
Kaduna Port

I’ll Tell Niger To Use Kaduna Port, Not Lagos – El-rufai

Governor Nasir El-Rufai has revealed his plans of sending a delegation to tell the Republic of Niger to start using the Kaduna Inland Dry Port instead of using the seaports in Lagos State. El-Rufai who revealed that he will tell [...]

May 8, 2019 Transportation
British Airways Announces Abuja Terminal Move PIX

British Airways Announces Abuja Terminal Move PIX

In line with its drive to provide premium services to its passengers, British Airways, has announced the relocation of its terminal to the new Nnamdi Azikiwe International Airport, Abuja. The change took effect on 30th April 2019. The move comes [...]

May 7, 2019 Transportation
Buhari Orders Import Waivers For 3 Modular Refineries

President Buhari Orders Import Waivers For 3 Modular Refineries

The projection by the Federal Government that Nigeria would begin fuel export by the end of 2019 is being threatened by imminent failure of 33 modular refinery licensees across the country. These modular refinery licenses, checks by New Telegraph shows, [...]

May 7, 2019 Oil & Gas
Nigerian Railway Corporation

Nigerian Railway Corporation Allegedly Hired 3 NAF Helicopters To Guard Train

The Nigerian Railway Corporation reportedly hired three NAF helicopters to guard a train on its journey from Abuja to Kaduna. According to a Twitter user, the Nigerian Railway corporation hired the three NAF helicopters on a ‘private deal’ to guard the [...]

May 5, 2019 Transportation
Fg Approves Contracts For Construction, Rehabilitation Of Road Projects At N169b

Fg Approves Contracts For Construction, Rehabilitation Of Road Projects At N169b

The Federal Executive Council has approved the award of N169.74 Billion contracts for the construction and rehabilitation of 10 roads across the country just as the Minister of Power, Works and Housing, Mr Babatunde Fashola SAN stated that the projects [...]

May 5, 2019 Transportation
FAAN Withdraws Services From Gombe, Kebbi Airports Over N800m Debt

FAAN Withdraws Services From Gombe, Kebbi Airports Over N800m Debt

Flight operations may have stopped at the Gombe and Kebbi airports as indications emerged that the Federal Airports Authority of Nigeria (FAAN) may have withdrawn its services over N800 million unpaid debt owed it by the two airports. FAAN for [...]

May 5, 2019 Transportation
Murtala Mohammed Airport

Court Stops FG From Taking Control Of Murtala Mohammed Airport

The Abuja division of the Federal High Court has prevented the Federal government from assuming control over the residential wing of the Murtala Mohammed Airport, Lagos from its present administrator and supervisor, Bi-Courtney Limited. Equity Binta Nyako had in an [...]

May 4, 2019 Transportation
World Heaviest Regenerator

Installation Of World Heaviest Regenerator, RFCC Unit At The Dangote Refinery

World Heaviest Regenerator: The Dangote oil refinery is an ongoing Refinery project owned by the Dangote Group, located at Ibeju lekki area of Lagos state.When complete, it will have a capacity to process about 650,000 barrels per day of crude [...]

May 3, 2019 Business
Traders Count Losses As Fire Destroys Goods Worth N50m

Onitsha:Traders Count Losses As Fire Destroys Goods Worth N50m

Tears, agony at Onitsha Main May 2, 2019 9:02 AMTraders count losses as fire destroys goods worth N50mTears, agony at Onitsha Main MarketJeff Amechi Agbodo, Onitsha  Traders at Johnson Street, near Main Market Onitsha, Anambra State have been counting [...]

May 3, 2019 Business

Nigeria’s Unemployment Rate To Reach 33.5% By 2020 – Ngige

Chris Ngige, Nigeria's Minister of Labour and Employment who spoke yesterday at the opening of a two-day workshop on Breaking the Resilience of High Unemployment Rate in the Country in Abuja, revealed that Nigeria’s unemployment rate is expected to reach [...]

May 3, 2019 Employment