Apo sub-station to power 7,000 homes in FCT– Minister

May 9, 2018 BluePrint Newspapers 0

Minister of state 11 for Power, Works and Housing, Surveyor Hassan Zarma, has said that additional over 7000 houses in the Federal Capital Territory (FCT) are expected to enjoy improved power supply through a 60MVAR 132 KV capacitor bank installed at the Apo power sub station, Abuja. Zarma, who stated this in Abuja yesterday during an inspection tour of the Read More

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Azura, Afam, Kaduna add 914MW to national grid

May 9, 2018 BluePrint Newspapers 0

Minister of Power, Works and Housing, Mr. Babatunde Fashola has assured that 914 megawatts of electricity would be added to the national grid soon. The Minister gave the assurance at the inauguration of new Chairman of the Nigerian Electricity Regulatory Commission (NERC), Prof. James Momoh in Abuja. Fashola said 459MW will come from the Azura power plant in Edo State. Read More

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Global renewable energy jobs reaches 10.3m in 2017

May 9, 2018 Tope Sunday. Abuja 0

The renewable energy industry created more than 500,000 new jobs globally in 2017 representing a 201 per cent increase from 2016, according to the latest figures released by the International Renewable Energy Agency (IRENA). According to the fifth edition of Renewable Energy and Job –Annual Review, launched at IRENA’s 15th Council in Abu Dhabi today, the total number of people Read More

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Glencore’s Congo woes throw spotlight on cobalt dominance

May 9, 2018 BluePrint Newspapers 0

A tussle between Glencore and its former partner over Congo cobalt royalties highlights the nascent electric vehicle sector’s vulnerability, with an escalation seen crippling supplies of the key battery metal. Glencore won an injunction in a London court last week against freezing orders brought by a company affiliated with its former partner Dan Gertler, who is seeking up to $3 Read More

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Youths scoping oil from ground

Ethiopians urge gov’t to revoke permit for billionaire-owned gold mine

May 9, 2018 BluePrint Newspapers 0

Demonstrators have blockaded roads in Ethiopia’s unruly Oromia region pressing the government to revoke the renewal of a mining license for a company owned by Saudi billionaire Mohammed al-Amoudi because of alleged pollution and health risks to locals. Protesters have blockaded local roads since April 30, preventing people from going to work and forcing schools to cancel classes, and have Read More

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Nigeria expends $2bn on IT projects annually – NITDA

The National Information Technology Development Agency (NITDA) has revealed that Nigeria spends $2 billion annually on Information and Technology projects. Speaking at a sensitization workshop and stakeholders’ engagement on IT project clearance portal and draft guidelines, yesterday, Director – General of NITDA, Dr. Isa Ali Pantami stressed the need for the sector to be properly regulated in order for the Read More

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Africa Investment Forum endorsed as game-changer for infrastructure devt

May 9, 2018 David Agba . Abuja 0

Africa Development Bank (AfDB) and the Government of Gauteng Province have signed a memorandum of agreement to host the inaugural edition of the Africa Investment Forum from November 7 to 9, 2018 in Johannesburg, South Africa. DAVID AGBA reports. Future prospect By 2050, just 32 short years from now, Africa’s growing population will tip the scales at a whopping two Read More

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IMF warns Nigeria, others against rising debt

The IMF has warned that SubSaharan African nations are at growing risk of debt distress because of heavy borrowing and gaping deficits, in spite of an overall uptick in economic growth. The sober assessment comes as African countries continue to tap international debt markets and issue record levels of debt in foreign currencies, spurred on by insatiable investor demand for Read More

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‘Only 7% Nigerians have access to potable pipe-borne water

The Chairman, Nigeria Water Supply Association (NWSA), Engr. Olusola Sunlola, has observed that only about 7 per cent of Nigerians have global access to pipe borne water supply. He made this statement during a partnership meeting with Blueprint Newspapers at its headquarters on the Association’s 1st International Conference coming up in June, 2018 in Abuja yesterday. He said it dropped Read More

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World Bank officials to meet Osinbajo, Adeosun, govs over projects in Nigeria

May 9, 2018 BluePrint Newspapers 0

A World Bank mission, comprising 10 executive directors, is expected in Nigeria on Wednesday to hold high-level discussions with the Vice President, Yemi Osinbajo; Minister of Finance, Kemi Adeosun; and some governors over the bank’s projects in the country. In the World Bank mission are the bank’s Executive Directors for Switzerland, France, Italy, Nordic, Peru, Germany, South Africa (representing Angola, Read More

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NIMASA envisages continental cargo increase

May 9, 2018 BluePrint Newspapers 0

The Director General of the Nigerian Maritime Administration and Safety Agency, (NIMASA) Dr. Dakuku Peterside has stated that regional cooperation is key to the safety and security of inbound and outbound goods and services to Africa through the seas. Peterside who said this while speaking at a technical workshop on Prospects, Challenges and Opportunities for Regional Collaboration at the sidelines Read More

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NIRSAL to support 500,000 farmers in 2018 wet season farming

May 8, 2018 BluePrint Newspapers 0

The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) says it will support no fewer than 500,000 smallholder farmers under the CBN’s Anchor Borrowers Programme for the 2018 wet season farming. The Managing Director of NIRSAL, Mr Aliyu Abdulhameed said the support would assist farmers to produce about 1.5 million tonnes of grains at an average value of N90, Read More

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Food Price Index steady, sugar values dips sharply

May 8, 2018 John Oba. Abuja 0

The Food and Agriculture Organisation (FAO) food price index for the month of April revealed price stability for the fourth consecutive month this year. The report released at the weekend showed that price Index (FFPI) averaged 173.5 points in April 2018, nearly unchanged from March but up 2.7% from the corresponding period last year. While the prices of most cereals Read More

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CBN injects another $349.34m into retail SMIS

May 8, 2018 David Agba . Abuja 0

The Central Bank of Nigeria (CBN), in its last intervention for the week, has injected the total sum of $349.34 million in the Retail Secondary Market Intervention Sales (SMIS) segment of the Forex market. Figures obtained from the CBN on Friday, indicated that the interventions were meant to meet obligations in the agricultural, airlines, petroleum products and raw materials and Read More

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Stakeholders hail Transcorp’s contribution to power sector

May 8, 2018 BluePrint Newspapers 0

Shareholders of Transnational Corporation of Nigeria Plc (Transcorp) has commended the Board and management for Transcorp’s contribution to transforming the nation’s power sector, through its power subsidiary, Transcorp Power. The shareholders commented at the 12th Annual General Meeting on Transcorp’s ability of increasing the available capacity of its power generation plant from 160MW, when acquired in 2013, to 701MW by Read More

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Fuel importation: Nigeria spent $36.371bn in 5 years – CBN

May 8, 2018 Blueprint 0

The Central Bank of Nigeria (CBN), has disclosed that the country spent a whooping sum of $119.409 billion on the importation of various commodities in the last five years. Of this sum, $36.371 billion was expended on the importation of petroleum products. “Data from the CBN shows that from 2013 to 2017, a total of foreign exchange committed to imports Read More

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Nestle records N67.463bn in Q1

May 7, 2018 BluePrint Newspapers 0

Nestle Nigeria Plc recorded revenue of N67.463 billion for the first quarter fi nancial year, ended January 31, 2018. The revenue increased by N6.312 billion or 10.32 per cent compared with N61.151 billion in January 2017. The company cost sales went to N41.705 billion from N37.668 billion reported the same period last year, while gross profit rose from N23.483 billion Read More

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Equity market close in downward trend, declines by N10bn

May 7, 2018 Amaka Ifeakandu 0

Trading activities on the floor of Nigerian Stock Exchange (NSE) last week closed in negative trend, dropping by N10 billion. The market capitalisation depreciated by 0.07 per cent to N14.931 trillion from N14.940 trillion reported the previous week. The Nigerian Stock Exchange All Share Index declined by 26.17 to 41218.72 from 41244.89 points traded two weeks ago. Similarly, all other Read More

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Currency swap with China will ease pressure on I&E FxWOperators

May 7, 2018 BluePrint Newspapers 0

Money market operators have said that an annual currency swap sealed by Nigeria and People’s Republic of China would ease pressure on the limited dollar supply at the Investors & Exporters Forex Window (I&E FXW). The deal according to the operators expected to enhance stability of the Nigeria naira/ United States Dollar exchange rate. Federal government had sign $2.5 billion Read More

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CBN releases PMI report for April

May 7, 2018 BluePrint Newspapers 0

Central Bank of Nigeria (CBN) has released Purchasing Managers’ Index (PMI) survey report for the month of April 2018, showing faster expansions in both manufacturing and non-manufacturing businesses. The CBN survey results with positive trend showed an addition to the economy’s early expansion following the 1.92 per cent real Gross Domestic Product (GDP) growth of fourth quater 2017 and 0.83 Read More

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Access Bank’s womenpreneur supports 500 Women SMEs in PH, 2 other cities

Access Bank’s W Academy, in partnership with the Enterprise Development Centre (EDC) of the Lagos Business School (LBS), organised a professional business capacity-building workshop for 500 female entrepreneurs in Port-Harcourt, Abuja and Lagos. These capacity building initiatives across the 3 states held in the last four months and served as the 3rd, 4th and 5th editions of the Second season Read More

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Tackling unemployment through vegetable production

May 7, 2018 John Oba. Abuja 0

JOHN OBA, in this piece looks at the viability of vegetable farming in Nigeria In the recent time vegetable farming has become one of the most viable agro-business, while polyhouse cultivation of vegetables is emerging as a specialized production technology to overcome biotic and abiotic stresses and to break the seasonal barrier to production. It also ensures round the year Read More

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Sterling Bank launches hajj savings plan

Sterling Bank, Non-Interest Banking Group has launched a new product known as the hajj savings plan. The product, according to the bank, which is in partnership with Nasrul-lahi-li Fathi Society of Nigeria (NASFAT) would provide banking services to Nigerian Muslim travelling to Mecca, Saudi Arabia to fund their Hajj obligations. The bank also signed a Memorandum of Understanding (MOU) with Read More

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NNPC disowns phantom recruitment advertisement

The Nigerian National Petroleum Corporation (NNPC) has disowned a recruitment advertisement currently trending in the social media. According to a statement by the Corporations spokesman, Ndu Ughamadu, the advertisement, is set in NNPC’s corporate colour with its logo, invites candidates with background in Sciences, Engineering, Business/Finance, Social Sciences, Arts/Humanities as well as Medical/Health Sciences to apply, giving required educational attainments Read More

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