Nigeria’s mounting debt continues to be a source of worry especially with the recent disclosure by the Debt Management Office (DMO) that the country owes China $3.714bn. BENJAMIN UMUTEME looks at the implication for the country. The issue of the nation’s debt continues to divide opinion among Nigerians, one thing that all seem to agree with is that the country’s Read More
The federal government would focus on greater development of irrigation facilities in the country, and encourage more people into agriculture, President Muhammadu Buhari has pledged. He spoke Friday at State House, Abuja, during the 6th regular meeting with the Presidential Economic Advisory Council (PEAC), led by Professor Doyin Salami. President Buhari said agriculture was a good way for the country Read More
The Nigerian National Petroleum Corporation (NNPC) has kicked off construction work in the Port Harcourt Refinery rehabilitation project with a firm commitment not to fail Nigerians. A statement by the Group General Manager, Group Public Affairs Division of the NNPC, Dr. Kennie Obateru, quoted the NNPC Chief Operating Officer, Refineries & Petrochemicals, Engr. Mustapha Yakubu, as saying that everything was Read More
Management team of new generation bank, Keystone Bank, has commended the expansion project of farmers in Nasarawa state after a surprise visit to the farm on Wednesday, saying the team was impressed with the ongoing expansion at the farm. A team from Lagos and North Central led by Divisional Head, Abuja-Wuse Division, Mr. Akinsanmi Falaki, paid a visit to the Read More
President Muhammadu Buhari has approved the recommendation of the Ministry of Transportation under Rt. Hon. Rotimi Amaechi for the setting up of an Administrative Panel of Inquiry to investigate the Management of the Nigerian Ports Authority (NPA). The President has also approved that the Managing Director, Hadiza Bala Usman step aside while the investigation is carried out. Mr Mohammed Koko Read More
Africa infrastructure investors, Harith General Partners, has announced the launch of $200 million (about N76.1 billion naira) capital raise in a follow-up fund to its Pan African Infrastructure Development Fund (PAIDF) 2, which it said is open to existing and new investors. The PAIDF 2 Infrastructure Top Up Fund is a shorter term vehicle (5-to-6 years) that is being established Read More
Trading on the floor of Nigerian Stock Exchamge Thursday sustained volatility during the day, closing lower by N167 billion on a higher traded volume. Market capitalisation of listed equities declined by 0.81 per cent to N20.470 trillion from N20.637 trillion reported the previous day. The NSE All Share Index also depreciated by 319.08 basis points to 39114.73 points from 39433.81 Read More
The federal government through the Minister of Industry, Trade and Investment, Adeniyi Adebayo has tasked the newly appointed Executive Secretary of the Financial Reporting Council of Nigeria (FRC), Alhaji Shuaibu Adamu Ahmed on the need to develop a sound accounting and financial reporting standards in accordance with the Act establishing the council. The minister who inaugurated the new executive secretary Read More
Financial result of Jaiz Bank Plc for the first quarter ended 31 March 2021 was released to the Nigerian Stock Exchange, the result show that the Bank’s gross revenue increased by 43% over the same period last year, from N4.18 billion to N5.99 billion. Profit before taxation increased significantly by 54% which amounted to N979.17 million as against N636.69 million Read More
The Pentecostal Fellowship of Nigeria (PFN) Thursday described the death of the son of Pastor Enoch Adeboye, of the Redeemed Christian Church of God (RCCG) as tragic. PFN in a condolence message issued by its national publicity secretary, Bishop Emmah Gospel Isong, lamented that the news of the death of the son of the general overseer, saying it was shocking. Read More
The chairman of Yagba West LGA of Kogi state, Pius Kolawole, has been freed by his abductors. Kolawole was abducted while travelling from Ilorin, Kwara state capital, to Kogi in company of a commissioner of Kogi pension board, Solomon Adebayo, on Saturday. Blueprint reported that Adebayo was killed by the gunmen in the incident. The spokesperson of Governor Yahaya Bello, Read More
On Thursday, the Minister of the Federal Ministry of Science and Technology (FMST) Dr. Ogbonnaya Onu inaugurated committees on drafting of National Policy on Welding as well as National status survey welding and related fields to promote and enhance local content in the realization of National goal industrialisation of the country. He said the Federal Government recognizes the importance of Read More
The Minister of Water Resources, Engr. Suleiman Adamu has said that the need to reform the nation’s River Basin Development Authorities (RBDAs) is to seek alternative sources of funding to shore-up their revenue base and make them self-reliant. Declaring open a three-day business implementation training on the partial commercialisation of four pilot River Basin Development Authorities (RBDAs) in Abuja on Read More
Following rising cases of willful and illegal withholding of taxes collected by companies, corporations, Ministries, Departments and Agencies (MDAs) and other agents of collection, the Federal Inland Revenue Service (FIRS) has served public notices to defaulters that the Service plans “to recover taxes due from the defaulters’ asset in the custody of any person, including but not limited to sums Read More
With Brent Crude oil, Nigeria’s benchmark trading at $69.74 per barrel up by over 1.25 percent, while this means an increase in oil revenue for Nigerian government, the excitement, however, is quickly wiped, as the spike could mean a change in petrol price is imminent in the country. Recall that the Petroleum Products Pricing Regulatory Agency (PPPRA) had in 2020 Read More
MTN Nigeria has issued a N100 billion ($263 million) fixed rate bond in the first quarter of 2021, due in seven years, under a N200 billion bond programme to refinance existing debt and support network expansion. Yields in Nigeria are at historic lows after the central bank cut rates twice last year to lower borrowing costs for the government, creating Read More
Difficulty in export products accessing the ports as a result of bad roads and the impact of the Covid-19 reduced total exports and imports by 10.92 per cent from 16,458,088mt in 2019 to 14,661,651mt in 2020, the Nigerian Ports Authority (NPA) has said. In it recent publication made available to Blueprint when a team from the Lagos office visited NPA Read More
Chief Celestine Chukwu is the secretary general of Igbo Community Assembly in the FCT. In this interview with ROSEMARY MORIBIRIN and SOLOMON AROWOLO, he speaks on ways out of current security situation ahead of 2023 general election. 2023 is around the corner. What do you expect from political parties? One thing that is very key is to ensure that there Read More
Nigeria’s leading stakeholder in the hospitality business, the management of BON Hotels are obviously not resting on their oars to remodel, re-strategize, and expand their reach for efficiency and ultimately to meet the demands and satisfaction of their customers despite the challenges of the deadly Covid-19 pandemic which took a heavy toll on every aspect of human endeavours across the Read More
The Nigerian Communications Satellite (NigComSat) and Nigerian Communications Commission (NCC) have developed and signed a Memorandum of Understanding (MOU) on the use of C-band spectrum for 5G services in Nigeria.Executive Vice Chairman (EVC) Nigerian Communications Commission (NCC) Prof Umar Garba Dambatta at the MoU signing, detailing all aspects of the undertaking said the two agencies agreement will facilitate the release Read More
Following the completion of all regulatory procedures, Grobank Limited has been officially renamed Access Bank South Africa Limited.The deal was finalized after Access Bank’s acquisition of controlling shares in the former Grobank Limited, South Africa. With this new development, Access Bank South Africa Limited is positioned to deliver a robust banking operation that connects key African markets.At an official closing Read More
Trading activities on the floor of Nigerian Stock Exchange yesterday sustained bearish run, declining by N193 billion.Specifically, Market Capitalisation of listed equities declined by 0.93 per cent to N20.637 trillion from N20.830 trillion reported the previous day. The NSE All Share Index also depreciated by 367.97 basis points to 39433.81 points from 39801.78 traded on Tuesday.Investors exchanged 349.558 million shares Read More
Yiaga Africa with support from the National Endowment for Democracy (NED), has hosted 35 to 40 entry-level community organizers and young leaders in Nigeria and Cameroon who received training on direct action organizing, leadership, policy advocacy, non-violent change, storytelling and public narrative, coalition building, community mobilization, and digital organizing. During an experience-sharing session at the ongoing YOS 2021, which kicked Read More
The Executive Director of Michelles Youth Initiative for Sustainable Development (MYISD) who also doubles as the President of the Nigerian Female Youth Organisation, Princess Michelle Peter has condemned the recent rape allegations of embattled Yoruba actor , Olanrewaju Omiyinka aka Baba Ijesha and a minor. The ED in a statement called on the Nigerian Police Force to commence investigation on Read More
In response to President Muhammadu Buhari administration’s move to provide 10 million jobs for the unemployed youths, the National Agency for Science and Engineering Infrastructure (NASENI) Tuesday agreed to work with Abia state government to support Aba entrepreneurs and other small industries. A statement by the press department of the agency said the agreement was at the instance of the Executive Read More
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