Category Archives: cover

Multiple taxes, RoW, others stagnate N21.45tn telecom investment

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Telecom stakeholders are expressing fears that the government’s policies will not only scare away potential investors, but can make the industry to crumble, OZIOMA UBABUKOH writes Investment inflow into the Nigerian telecommunications industry is witnessing a lull without appreciable Foreign Direct Investment since the industry hit the N21.45tn ($70bn) investment mark last year, according to […]

Kogi allocates 37,000 hectares of land for housing

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The Kogi State Government has made available 37,000 hectares of land for the construction of affordable houses for workers. Governor Yahaya Bello announced this at the ground-breaking of the scheme in Lokoja. He said N10bn had been set aside for the 1,200 housing units to be built for workers in the state. The governor stated […]

Dangote refinery’ll boost downstream oil sector, says LCCI

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The Lagos Chamber of Commerce and Industry has said the Dangote Group’s oil refining and petrochemical project will lead to the transformation of the downstream sector of the nation’s oil and gas industry. The President, LCCI, Mr Babatunde Ruwase, described the project as massive and a game changer for the industry. Ruwase, who led members […]

NAICOM suspends insurance firms’ recapitalisation

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The National Insurance Commission has announced the suspension of the implementation of its Tier-based Minimum Solvency Capital policy, otherwise known as the recapitalisation of the industry. The commission stated this in a circular to all insurance institutions entitled, ‘Update on the implementation of the Tier-based Minimum Solvency Capital policy for insurance companies in Nigeria’, which […]

Electricity problems can’t be solved by magic – Fashola

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The Minister of Power, Works and Housing, Mr Babatunde Fashola, has said electricity supply in the country is improving slowly and that power problems cannot be solved by magic. Total power generation stood at 3,729 megawatts as of 6am on Wednesday, according to latest data obtained by our correspondent from the ministry. Fashola, who spoke […]

FG trims budget size, proposes N8.6tn for 2019

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The Federal Government on Thursday proposed a smaller budget size of N8.6tn for the 2019 fiscal year in contrast to N9.1tn for 2018. It also projected a total revenue of N7.9tn as well as reductions in both borrowing and deficit financing, according to details of the 2019-2021 Medium Term Expenditure Framework/Fiscal Strategy Paper unveiled in […]

$12.7bn crude stolen from Nigeria in three years – Falana

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HUMAN rights lawyer and Senior Advocate of Nigeria, Femi Falana, on Thursday alleged that $12.7bn worth of crude oil was stolen from the country between 2011 and 2014. Falana spoke at the 40th anniversary celebration of the Petroleum and Natural Gas Senior Staff Association of Nigeria in Abuja, and called for the immediate recovery from […]

CBN Urged To Revisit ATM Card Maintenance Charges

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The Senate on Wednesday after much debate has asked the Central Bank of Nigeria (CBN) to look into the Automated Teller Machine (ATM) maintenance and withdrawal charges by banks. This was after a motion on “illicit and excessive charges by Nigerian banks in customers’ accounts” was raised by Senator Gbenga Ashafa during the plenary session […]

World Food Day 2018: PDU Scores National Home Grown School Feeding Programme High

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The Presidential Delivery Unit has called on Nigerians to patronise local producers, adopt nutritious diets, as well as support initiatives that provide sustenance for those in need. Nigeria’s Presidential Delivery Unit (PDU) which celebrated the successes of the National Home Grown School Feeding Programme (NHGSFP), one of the country’s four Social Investment Programmes, which continues […]

DAKUKU: MARITIME, CATALYST FOR NIGERIA’S INDUSTRIALISATION

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*Stakeholders Commend NIMASA’s Leadership Role in Africa* For Nigeria to effectively move away from an oil-dependent economy and industrialise, it must develop the blue economy. This was the position of the Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside and other top players in the maritime industry, at the 2018 […]