Business

Buhari opens up on real cause of another recession in 5 years

November 23, 2020 Abdullahi M. Gulloma 0

President Muhammadu Buhari has said Nigeria’s second recession in five years was a consequence of the severity of the global economic downturn  caused by the COVID-19 pandemic. He also said a N15trillion Infraco Fund to be independently managed would be utilised to see Nigeria out of the recession. In the same vein, the president announced that the Finance Bill 2020makes provisions for the exemption of minimum wage earners from the Read More

NES26: ‘China has displayed audacity to improve economic growth’

November 23, 2020 Blueprint 0

The Chairman of the Nigerian Economic Summit Group (NESG), Asue Ighodalo, says China has displayed audacity in its vision to improve the country’s economic growth. Mr Ighodalo said Nigeria should emulate China in its effort to improve its economy and exit the current recession. He said this at the ongoing NESG 26th summit on Monday in Abuja with the theme Read More

Air Peace attributes reduction of flight frequencies to Covid-19

November 23, 2020 Suleiman Idris 0

Nigeria’s leading carrier, Air Peace on Monday disclosed the impacts of the Coronavirus COVID-19 lockdown on the airline which led to the reduction of its flight frequencies. Air Peace Chief Operating Officer (COO) Mrs. Toyin Olajide explained that the advent of the COVID-19 devastated airlines worldwide, Air Peace not exempted. Olajide told journalists that the airline had several aircraft out Read More

Agbakoba charges FG to cut recurrent expenditure

November 23, 2020 Amaka Ifeakandu 0

In view of the economic challenges being experienced in the country, Cerebral Senior Advocate of Nigeria Dr. Olisa Agbakoba, has decried continuous neglect of the poor and vulnerable people, especially in budget allocation and challenged the Federal Government (FG) to reduce cost of governance. Agbakoba who was recently appointed to head the federal government’s Committee for the Development of National Read More

Premium Pension partners Bauchi on contributory pension scheme

November 23, 2020 Edet Udoh 0

In line with its business activities, the Premium Pension Limited, has partnered Bauchi State government on Contributory Pension Scheme. To this end, the Board and Management of Premium Pension led by the Chairman Board of Directors, Mr. Ibrahim Alhassan Babayo in company of the Chief Executive Officer Mr. Umar Sanda Mairami and the Executive Director, Business Development North and Strategy Read More

Fidelity Bank’s results reflect resilient business model, says Okonkwo

November 23, 2020 Segun Odunewu 0

The Group Chief Executive Officer of Fidelity Bank Plc, Mr. Nnamdi Okonkwo, says the Bank’s nine months financial results are a reflection of its resilient business model, particularly in a very challenging operating environment. He disclosed this while reacting to the bank’s third quarter result which shows a profit position of N9.1 billion, 13.7 per cent decline compared to its Read More

Finance Bill 2020: FG gives fresh update

November 23, 2020 Abdullahi M. Gulloma 0

President Muhammadu Buhari said Monday that the Finance Bill 2020makes provisions for the exemption of minimum wage earners from the Personal Income Tax. The president said this at the opening session of the 26th Nigerian Economic Summit Group Conference themed: “Building Partnerships for Resilience.”Represented virtually by Vice President Yemi Osinbajo, the president said the exemption of the minimum wage earners Read More

Electric car, a welcome idea in time of need for Nigerians

November 23, 2020 Editorial IV 0

Just recently, Lagos state government launched an electric car Hyundai Kona, the first kind of invention ever introduced in Nigeria. BINTA SHAMA reports. Electric cars Research shows that some developed countries like China, USA, Norway are into the habit of using electric cars, and Nigeria today is gradually falling into such category. Also, report shows that several car companies like Read More

FG harnesses hydrocarbon resources for export, employment cardinal objective

November 23, 2020 Helen Oji 0

The Minister of State for Environment, Barr. Sharon Ikeazor, says the development and optimal utilization of the nation’s hydrocarbon resources to boost export earnings and provide employment opportunities for teeming youths is one of the cardinal objectives of the President Muhammadu Buhari-led administration. Ikeazor stated this at the weekend in her remarks at a stakeholders’ meeting on the Environmental Impact Read More

Correctional Service begins housing estates construction for staff

November 23, 2020 Blueprint 0

The Controller General, Nigerian Correctional Service (NCoS), Mr Ja’afaru Ahmed, has disclosed that the Service has commenced its housing estate construction for staff nationwide. Ahmed said this at the inauguration of the correctional cooperative society (COCOS) housing estate Lugbe, Abuja over the weekend. He said COCOS was established to serve as a frontline support that would provide financial succour to Read More

NGO builds 77 houses for individuals, families in Ebonyi

November 23, 2020 Blueprint 0

A Non-Governmental Organisation, Ebele and Anyichuks Foundation, has provided 77 buildings to indigent persons and families in Isu community, Onicha Local Government Area of Ebonyi state. Mr Christian Onu, Coordinator of the foundation in the state. Mr Christian Onu, said during a site tour of the projects in Isu community, that the houses include: duplexes, bungalows, church buildings, five, three Read More

FG should come up with more policies on land ownership-Adaralegbe

November 23, 2020 Blueprint 0

Mr Akintayo Adaralegbe is the Managing Director/ Chief Executive Officer of T-Pumpy Concept Limited. In this interview with TOPE SUNDAY, Adaralegbe speaks on the housing sector, among other issues. There is this allegation in the Federal Capital Territory (FCT) that people are buying fake land. As a developer, how can Nigerians avoid buying fake land? I think the best thing Read More

Reps seek N50bn intervention fund for local airlines

November 23, 2020 Joshua Egbodo 0

The House of Representatives Committee on Aviation, has asked for a N50 billion intervention fund for the local airlines, in order to prevent the aviation sector from imminent collapse. Addressing journalists on Monday, the committee through its Chairman, Hon. Nnolim Nnaji, said “The federal government’s N4 billion bailout to the airlines and some palliatives to the agencies (not yet released) Read More

How ponmo business thrives in Abuja

November 23, 2020 Editorial IV 0

Ponmo business is a very lucrative. Some persons who are into this business are living large because of the huge profit therein. Whether it is sold in kanda form (dry skin or salted skin) or as ponmo the gains in both are very attractive. ADEOLA TUKURU reports.   In Abuja, the Federal Capital Territory (FCT), the sale and consumption of ponmo is currently Read More

FG gives Lekki Deep Seaport 2022 operational deadline

November 23, 2020 Suleiman Idris, 0

The federal government on Sunday said promoters of the Lekki Deep Seaport must work toward ensuring the project becomes operational by 2022 adding that they must enter into an agreement to ensure the President Muhammadu Buhari commission the project the same year. Minister of Transportation, Rotimi Amaechi said the facility should commence cargo operations in two years time. The minister Read More

Lagos begins crackdown on illegal tank farms

November 23, 2020 David Agba 0

The Lagos State Government on Friday declared that it would, from his week, begin physical planning enforcement on all tank farms illegally operating in the state. The Commissioner for Physical Planning and Urban Development, Dr. Idris Salako, said this during a meeting in his office in Alausa. The commissioner expressed displeasure at the unapproved and illegal operations of many tank Read More

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NASSI to MSMEs: Register with trade groups to access N75bn MSME Survival Fund

November 23, 2020 Edet Udoh 0

The Nigerian Association of Small Scale Industrialists (NASSI) has urged Micro Small and Medium Enterprises (MSMEs) to register with trade groups to get access to funds their businesses. The Immediate Chairman, NASSI, Segun Kuti-George, explained that financial institutions are only open to fund credible trade groups rather than lending to individuals. He stated this at a press briefing to herald Read More

ABCON warns forex speculators over forceful naira depreciation

November 23, 2020 Amaka Ifeakandu 0

…. says CBN has enough reserve to defend naira The Association of Bureaux De Change Operators of Nigeria (ABCON) has sent strong warning to foreign exchange speculators pushing the naira to forceful depreciation through their illegal activities. Speaking  on the market development, ABCON President, Alhaji (Dr.) Aminu Gwadabe, said forex speculators are taking huge risks with their funds, as the Read More

Cloned brands: SON reads riot act to promoters

November 23, 2020 Adeola Tukuru 0

The Standards Organisation of Nigeria (SON) at the weekend read the riot act to promoters of cloned brands in a bid to check fake and substandard goods in the country. The Director-General, SON, Mallam Farouk Salim, explained that the agency would discourage the registration of any product that has a similar business name with an existing brand or those hidden Read More

Breaking – Fuel price hike: Labour walks out as talks with FG break down

November 22, 2020 Editor 0

Organise Labour comprising of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) Sunday walked out of the federal government meeting occassioned by recent hike in price of petroluem product. Fuel pump price was last week increased from N160 to N170 official price across the country with some area selling as high as N200. Details loading…

Recession: Tapping into the livestock economic potential

November 22, 2020 Editorial IV 0

Nigeria has announced it has officially slipped into another recession, but, be that as it may, exploring the livestock sector economic potential can turn things around, JOHN OBA reports. The National Bureau of Statistics (NBS), in its third quarter GDP report, released Saturday, the economy contracted by -2.48 per cent, an indication that the country has recorded two consecutive quarters Read More

FG gives Lekki Deep Seaport 2022 operational deadline

November 22, 2020 Suleiman Idris 0

The federal government on Sunday said promoters of the Lekki Deep Seaport must work toward ensuring the project becomes operational by 2022 adding that they must enter into an agreement to ensure the President Muhammadu Buhari commission the project the same year. Minister of Transportation, Rotimi Amaechi said the facility should commence cargo operations in two years time. The minister Read More

Lagos begins crackdown on illegal tank farms

November 22, 2020 David Agba 0

The Lagos State Government on Friday declared that it would, from his week, begin physical planning enforcement on all tank farms illegally operating in the state. The Commissioner for Physical Planning and Urban Development, Dr. Idris Salako, said this during a meeting in his office in Alausa. The commissioner expressed displeasure at the unapproved and illegal operations of many tank Read More

NASSI to MSMEs: Register with trade groups to access N75bn MSME Survival Fund

November 22, 2020 Edet Udoh 0

The Nigerian Association of Small Scale Industrialists (NASSI) has urged Micro Small and Medium Enterprises (MSMEs) to register with trade groups to get access to funds their businesses. The Immediate Chairman, NASSI, Segun Kuti-George, explained that financial institutions are only open to fund credible trade groups rather than lending to individuals. He stated this at a press briefing to herald Read More

ABCON warns forex speculators over forceful naira depreciation

November 22, 2020 Blueprint 0

The Association of Bureaux De Change Operators of Nigeria (ABCON) has sent strong warning to foreign exchange speculators pushing the naira to forceful depreciation through their illegal activities. Speaking on the market development, ABCON President, Alhaji (Dr.) Aminu Gwadabe, said forex speculators are taking huge risks with their funds, as the Central Bank of Nigeria (CBN) has enough financial muscle Read More