Category Archives: Slider

NACC seeks better tariffs

Posted on in Business News, Slider | Comments Off on NACC seeks better tariffs

The Nigerian-American Chamber of Commerce (NACC) is pushing for favourable tariffs. Its President, Toyin Akomolafe, said there was the need to create better trade deals for the country to reduce dependency on oil as well as increasing engagement with China. He noted that in Nigeria, there is an increase in Chinese investments in infrastructure, and […]

Capital Market: Senate plans legislation to revive market

Posted on in cover, Markets, Slider | Comments Off on Capital Market: Senate plans legislation to revive market

The Nigerian National Assembly has expressed determination to revive the nation’s capital market through legislation to contribute to infrastructure development in the country.   The Chairman Senate Committee on Capital Market Senator Foster Ogola stated this at a joint briefing by the National Assembly joint committee on Capital Market on the forth coming Bi-Annual Stake […]

N-Power: FG to engage 300,000 new beneficiaries

Posted on in cover, Local News, Slider | Comments Off on N-Power: FG to engage 300,000 new beneficiaries

Nigeria has concluded arrangements to engage and deploy 300,000 new beneficiaries in the second batch of its N-Power Volunteers Corp effective from 1st August, 2018. Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Laolu Akande, stated this in a release on Thursday. “With 200,000 beneficiaries currently benefitting from the […]

House of Reps says probing loss of tax revenue, illegal mining

Posted on in Business News, cover, Slider | Comments Off on House of Reps says probing loss of tax revenue, illegal mining

The Nigerian House of Representatives is to probe the alleged loss of fifty billion dollars, about eight trillion Naira in gold tax revenue and illegal mining in the country in the last five years. This followed a unanimous adoption of a motion on the need to investigate the alleged revenue loss and illegal mining in […]

US Agency says Nigeria got $1.3bn FDI from US in 2017

Posted on in Local News, Slider | Comments Off on US Agency says Nigeria got $1.3bn FDI from US in 2017

The American Business Council (ABC) has disclosed that Foreign Direct Investment (FDI) of about 1.3 billion dollars flowed into the Nigerian economy from the US in 2017. This was revealed during the Launch of the 2018 US Economic Impact Survey on Wednesday in Lagos. Darrel McGraw, Vice President of ABC, said the survey carried out […]

NSITF N6.2bn fraud: Labour Minister receives report

Posted on in Business News, cover, Slider | Comments Off on NSITF N6.2bn fraud: Labour Minister receives report

The Administrative Panel of Enquiry, which probed the N6.2 billion scam at the Nigeria Social Insurance Trust Fund (NSITF) on Wednesday submitted its report to the Minister of Labour and Employment, Dr Chris Ngige. Mr Ishaya Awotu, the chairman of the panel said that there were irregular allowances totalling N5.7 billion paid to staff and […]

Aiteo, Total, other oil firms get Senate approval for N348bn outstanding subsidy claims

Posted on in cover, Oil&Gas, Slider | Comments Off on Aiteo, Total, other oil firms get Senate approval for N348bn outstanding subsidy claims

The Nigerian Senate has approved the payment of =N=348 billion as outstanding subsidy claims to 74 petroleum marketers. This followed adoption of interim report of its Committee on Petroleum (Downstream) on the Promissory Note Programme and a Bond Issuance to Settle Inherited Local Debts and Contractual Obligations to Petroleum Marketers. Out of this amount, 55 oil marketers are […]

NSE lifts Eterna to medium-price stock

Posted on in Business News, cover, Slider | Comments Off on NSE lifts Eterna to medium-price stock

Authorities at the Nigerian Stock Exchange (NSE) have reclassified Eterna Plc from low-priced stock to a medium-price, providing additional liquidity that will enhance price discovery for the downstream oil and gas company. As a medium-priced stock, stockbrokers could move the share price of Eterna with a minimum volume of 50,000 shares as against 100,000 minimum […]

Federal Capital Territory proposes over N271bn for 2018 fiscal year

Posted on in cover, Local News, Slider | Comments Off on Federal Capital Territory proposes over N271bn for 2018 fiscal year

The Federal Capital Territory Administration, FCTA, has proposed an expenditure framework of N271.532 billion for the 2018 fiscal year before the National Assembly for consideration and approval. The FCT Minister, Muhammad Bello stated this while presenting the territory’s 2018 appropriation bill to the Senate Committee on FCT in Abuja. Bello said the figure showed an increase of N49.171 billion on […]

Port Harcourt Area 1 Generates Over 21b in 6 Months

Posted on in Business News, cover, Local News, Slider | Comments Off on Port Harcourt Area 1 Generates Over 21b in 6 Months
Comptroller Isiyako Kabiru

The Port Harcourt 1 Area Command of the Nigeria Customs Service has defied all odds militating against its effective revenue generation efforts by raking in Twenty One Billion, Seven hundred and Seventy One thousand, Sixty Nine naira and fifty kobo (N21,000,771,069.50) from the months of January to June 2018, in contrast to Seventeen Billion, Seven […]