Category Archives: Business News

PAM Will Save Nigerian Consumers From Fakes – FG

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Aisha Abubarkar

The federal government has flagged off the introduction of the Product Identification Mark, PAM, an invention designed to stem the tide of substandard products and protect local industries from faking and adulteration. Minister of State for Industry, Trade and Investment, Hajia Aisha Abubakar, said during a stakeholder’s forum on PAM in Lagos that the invention […]

MAN Unhappy with MPR at 14 Per cent

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MAN Pres

The Manufacturers Association of Nigeria, MAN, has expressed dismay over the continued retention of the MIR at 14 percent by the apex bank. President of the association, Dr. Frank Udemba Jacobs who made the feelings of the manufacturers known at a media parley in Lagos disclosed that the association has been having a running battle […]

FG to set up Communication Bank

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Adebayo Shittu

  The Minister of Communications, Barrister Adebayo Shittu has said that the Federal Government is planning to set up a communication bank that would support operators and firms in the sector to access cheap funds. Speaking on Friday in Lagos during a visit to computer village, the Minister revealed that his ministry and the Central Bank of […]

ECOWAS to spend $29bn on devt projects in W/Africa

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ABUJA—Economic Community of West African States, ECOWAS, has said it had concluded plans for sub-regional development projects worth $29.66 billion for the period 2018 to 2022. ECOWAS Parliament President of ECOWAS Commission, Marcel Alain de Souza, stated this at the just concluded  Second Ordinary Session of the ECOWAS Parliament, in Abuja, while presenting the Status […]

Power supply dips to 4,108MW, contradicts TCN’s peak transmission claim

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There is no sign of improved electricity supply to Nigerians as the nation recorded an average power sent out of 4,108MW on December 26, data from the Nigerian Electricity System operator of the Transmission Company of Nigeria, TCN, shows. Power plant This contradicts TCN’s claim that it recorded a new national peak with the transmission […]

FG, others get N533bn statutory allocation in Nov- NBS

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The federal government, 36 states and 774 local government received N533 billion from the federation account as statutory allocation funds for November.   The National Bureau of Statistics (NBS) disclosed this in a report titled,  “Federation Account Allocation Committee: (November 2017 disbursement).” According to the report, the N532.76 billion  received by the three tiers of […]

Total, Nestle lift NSE indices by 0.27%

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Transactions on the Nigerian Stock Exchange, NSE, yesterday,  maintained a positive posture as some highly capitalised equities posted price appreciation. Total led the gainers’ table with a gain of N10.95 to close at N229.95 per share, according to NAN. The floor of Stock exchange Nestle trailed the gainers’ table with a gain of N10 to […]

NSE to introduce guidelines on derivatives trading

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The Nigerian Stock Exchange, NSE, said it would soon introduce guidelines for creation, listing and trading of derivative products on its platform. The Exchange disclosed this in a notice signed by Tinu Awe, General Counsel/Head Regulation of the NSE. The Exchange said the framework would also regulate the activities of the trading members and other […]

LASG pays N325m insurance benefit to beneficiaries

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Lagos State government has paid insurance benefit of N325 million to 104 beneficiaries of deceased employees in the mainstream civil service from August 2015 till date. Director General of Lagos State Pension Commission, LASPEC, Mrs. Folashade Onanuga, disclosed this at the presentation ceremony of retirement bond certificates to batch 46 of contributory pension scheme retirees […]

Guinness lifts small businesses, creates 13 millionaires

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Guinness Nigeria Plc said it has created 13 millionaires through its just ended, ‘Go Get It’promo aimed at helping the growth of small-scale businesses. The idea of the promo, according to the company, is to help consumers who have business ideas but required some capital to start. Guinness Nig Plc Aside from the millionaires, other […]