Abducted Bayelsa commissioner Otokito regains freedom

January 25, 2022 Joy Emmanuel 0

The abducted Bayelsa Commissioner for Trade and Investment, Mr. Federal Otokito has regained freedom. His abductors released him on Monday five days after he was kidnapped from his Otuokpoti community residence in Ogbia local government area. Bayelsa Commissioner of Police, Ben Nebolisa, and State Director of the Department of State Services, Mohammed Abdullahi, presented Otokito to Governor Douye Diri on Read More

BudgIT launches FixOurOil website

January 25, 2022 Amaka Ifeakandu 0

BudgIT Foundation, a civic-tech organisation leading the advocacy for fiscal transparency and sccountability in Nigeria and three other African countries, has launched the FixOurOil website, a platform that provides citizens, CSOs and the media with insights and data on the prevailing issues in the extractive industry to advance advocacy in Nigeria’s natural resource governance and sustainability. Historically, the Nigerian extractive Read More

Dangote Oil Refinery to begin production in Q3 of 2022

January 25, 2022 Blessing Anaro 0

Management of Dangote Industries Limited, has revealed that the oil refinery will start processing crude oil in the third quarters of 2022. The chairman of the Dangote Industries, Aliko Dangote, who made this known in a briefing at the refinery plant site in Lagos, said that mechanical work on the refinery has been completed and “hopefully before the end of Read More

Fidelity Bank enriches customers, holds second GAIM 5 Promo draw

January 25, 2022 Blessing Anaro 0

Fidelity Bank PLC, has announced the second set of millionaires in its Get Alert in Millions Season 5 promo (GAIM 5) which held recently in Victoria Island, Lagos. The event was witnessed by representatives of regulatory organisations which include: Ms Oyinkan Kusamotu, Senior Legal Officer, Lagos State Lotteries & Gaming Authority; Mr Tanko Mohammed, Head, Monitoring & Enforcement, Lagos State Read More

Foreign portfolio investments declines by 40% to 5-year low

January 25, 2022 Blessing Anaro 0

Foreign portfolio investments in Nigerian stock market dropped by 40.4 per cent in 2021 to its lowest level in five years as the active participation of foreign investors in Nigerian market declined by 11 percentage points from about 34 per cent of total market transactions in 2020 to about 23 per cent in 2021. The full-year foreign portfolio investments (FPI) Read More

No Image

NILEST certifies 165 recruits on leather manufacturing

January 25, 2022 Binta Shama 0

The Nigerian Institute of Leather and Science Technology ( NILEST), under the Federal Ministry of Science Technology and Innovation, on Thursday in Abuja graduated 165 trainees on Footwear manufacturing and leather goods production across the country. Speaking, the Minister of State for Science, Technology and Innovation, Barrister Mohammed Abdullahi, in his speech said  that  the Leather Industry forms one of Read More

Group berates NLC, TUC over planned protest against subsidy removal

January 24, 2022 David Agba 0

The Concerned Citizens Project (CCP) has described the planned protest by the Nigerian Labour Congress (NLC) and Trade Union Congress (TUC) against the intended removal of fuel subsidies by the federal government as misguided, unwise and self-defeating. National Coordinator  of CCP, Dr Bello Musa Gwani and   National Secretary  Sylvester Koni in a statement in Abuja Monday cautioned.  the leaders of NLC and Read More

Dangote’s petrochemicals, fertiliser plant to accelerate Africa’s economic growth – AfDB

January 24, 2022 Benjamin Umuteme 0

  President of the African Development Bank (AfDB), Akinwumi Adesina has described Dangote Refinery and Fertiliser projects the a booster to Africa’s economic growth.  In a tour of AfDB the Dangote refinery and fertiliser projects at the weekend with the board members of the bank, the AFDB president said it was an honour for the continent as it would help Read More

Ministry, Taraba state collaborate to develop Nigeria’s economy

January 24, 2022 Binta Shama 0

  The Federal Ministry of Science, Technology and Innovation and the Taraba State Government have partnered in the area of Science, Technology and Innovation to develop the economy. The Minister said this when he had audience with Taraba State Governor, His Excellency, Architect Darius Dickson Ishaku in his Office on Monday, in Abuja. According to the Minister of Science, Technology and Read More

Why I’m not for fuel subsidy removal – Buhari

  The federal government Monday halted its proposed plan on subsidy removal from pump price of Premium Motor Spirit (PMS) otherwise called petrol July this year. The development came as Minister of State for Petroleum Timipre Sylva quoted President Muhamadu Buhari as having declared he had no hand in the planned removal. Senate President Ahmad Ibrahim Lawan had last week, said President Read More

RMRDC, optimising gum arabic production and processing to generate needed forex

January 24, 2022 Editorial IV 0

The Raw Materials Research and Development Council (RMRDC) partners stakeholders to boost Nigeria’s GDP through the development of gum arabic production. BINTA SHAMA reports. About Gum Arabic Research shows that Gum Arabic is a leguminous tree species that is well adapted to Sudan and Sahalian agro-ecology of Africa. Its major product which is also known as Gum Arabic, Acacia gum, meska, Read More

Thriving business of Kunu, Ginger, Zobo drink in Nigerian markets

January 24, 2022 Editorial IV 0

  Kunu, Ginger and Zobo drinks business are lucrative in Nigeria today either packaging or reselling . Apart from the nutritional benefits and readily available in the market, it is very easy to set up depending on location and how one wants to operate it. ADEOLA TUKURU reports.  For its smallness, sellers are often found at street corners while some put Read More

Breaking: FG bows, shelves planned fuel subsidy removal

January 24, 2022 Taiye Odewale, Abuja 0

The federal government Monday halted its proposed plan of subsidy removal from pump price of Premium Motor Spirit (PMS), popularly known as fuel in July 2022. Postponement of the plan as declared by the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed and President of the Senate, Ahmad Lawan, at an emergency stakeholders’ meeting held at the National Read More

FMDQ Exchange approves Babban Gonna Farmer Service CP on its platform

January 23, 2022 Amaka Ifeakandu 0

Keeping with its mandate to enhance its service offerings and generate long-term value for its stakeholders in the Nigerian debt capital market, FMDQ Securities Exchange Limited (FMDQ) has approved the registration of the Babban Gona Farmer Services Nigeria Limited N15.00 billion Commercial Paper (CP) Programme on its platform. Babban Gona Farmer Services Nigeria Limited is a social enterprise that seeks Read More

Ardova Plc to conclude largest LPG storage facility in December 2022

January 23, 2022 Amaka Ifeakandu 0

Ardova Plc has said that it will conclude the ongoing construction of its new world-class Liquefied Petroleum Gas (LPG) storage facility at the company’s Ijora-Lagos Campus in December 2022. Ardova while helding a groundbreaking ceremony to commemorate the construction of its new storage facility said the LPG facility which will sit on 8.8 hectares and have a combined storage capacity Read More

CBN introduces e-invoice, e-valuators in import/export payment system

January 23, 2022 Amaka Ifeakandu 0

The Central Bank of Nigeria CBN has introduced electronic Valuator and electronic invoicing to replace final invoice as part of the documentation required for all import and export Transactions in the country. The CBN circular to all authorised dealers and members of the public, signed by Director Trade and Exchange Department, Dr O.S. Nnaji said that the new regulation is Read More

BVN: 8 years after, over 59m accounts yet to be linked

January 23, 2022 Segun Odunewu 0

Almost eight year after the federal government through the Central Bank of Nigeria introduced the Biometric Verification Number (BVN) for all account holders to curb fraud and theft, over 59 million accounts remained unlinked. Data from the Nigeria Inter-Bank Settlement System Plc (NIBSS) shows that the total BVN count as at January 16th 2022 has reached 52.1 million. Compared to Read More

NDIC pays 443,946 depositors N8.3bn, N100.1bn to uninsured depositors

January 23, 2022 Blessing Anaro 0

The Nigeria Deposit Insurance Corporation (NDIC), has confirmed the payment of a cumulative sum of N8.268 billion to 443,946 depositors as at the end of the third quarter of 2021. The NDIC also extended payment of N100.080 billion to uninsured depositors of deposit money banks in-liquidation as at September 30, 2021. The Corporation, further advised members of the public to Read More

Health advocacy group hails FG on sugary drinks tax

January 22, 2022 Tope Sunday, Abuja 0

Global Health Advocacy Incubator, an health advocacy group,  has lauded President Muhammadu Buhari over the introduction of tax on the sugar-sweetened beverages, saying that the tax will raise the government’s revenue. The group in a statement issued on Saturday in Abuja, also commended the Minister of Finance, Zainab Shamusuna, for her effort which led to the introduction of the tax Read More

ACAMB elects new executives, Bolarinwa emerges president

January 20, 2022 Amaka Ifeakandu 0

The Association of Corporate Affairs Managers of Banks (ACAMB) – an umbrella body of communications and marketing professionals, working in Nigeria’s banking sector – has elected new executives who will pilot the affairs of the Associationfor the next two years. The election for key positions, saw Mr. Rasheed Bolarinwa,Head, Corporate Communications of Polaris Bank emerged as the new ACAMB President, Read More

Financial sector swells GDP N44.2trn in 3 years

January 20, 2022 Blueprint 0

A recent report by the National Development Plan (NDP) has shown that the financial sector added a total of N44.2 trillion to the Nigerian Gross Domestic Product (GDP) from 2017 to 2020. According to the report, the total size of the financial services sector in 2017 was N78.10 trillion but rose significantly reaching N122.30 trillion by the year 2020, adding Read More

2022: FIRS target 100% automation of tax ¹1 processes

January 20, 2022 Blueprint 0

The Federal Inland Revenue Service (FIRS) has stated that it will achieve 100 per cent automation of all its tax administration processes with the aim of blocking revenue leakages thereby revolutionizing revenue generation in Nigeria. Calling for the cooperation of Nigerians to achieve this, the Executive Chairman of the FIRS, Muhammad Nami while speaking as the Special Guest at the Read More

Zulum’s media strategist Isa Gusau bags distinction at UK varsity

January 20, 2022 Sadiq Abubakar 0

Borno state governor, Professor Babagana Zulum’s Special Adviser on Public Relations and Strategy, Malam Isa Gusau, Wednesday, obtained Master’s degree (MA) in Media and Public Relations with the highest classification of Distinction at the University of Leicester in the United Kingdom.  Unlike Nigerian universities which only classify graduate degrees, UK universities classify Master’s degrees starting with pass classification for ‘C’ Read More

NBC to sustain decline in boundary clashes

January 20, 2022 Patrick Andrew 0

The National Boundary Commission (NBC) said it will leave no stone unturned to nip in the bud any tendency towards inter-community boundary conflicts in order to sustain the existing peace and harmony among border communities in the country. The commission said it will put up considerable effort to ensure that all frontiers of hostilities which have had negative impact on Read More