Enugu State governor, Sullivan Chime has faulted Federal Government’s reluctance to approve a Free Trade Zone (FTZ) for the South East geo-political zone despite its huge commercial and industrial potentials. Chime, who made the observation recently noted that the South East is the only the
Economy
Indication has emerged that Wastson, an International Business Machine (IBM)-powered supercomputer may be used to replace telcos call centre management staff, banking, healthcare, e-commerce and other service providers due to the high cost of executing business, shortage of experts, and other issues in Nigeria. Debbie Botha, senior managing consultant at IBM, mooted
The transition to cloud based services in Lagos is coming into fruition as the Lagos Infraco, Main One, plans to offer pervasive fibre and is launching Infrastructure as a Service with EMC and Microsoft. Main One’s independent data centre in Lagos was launched in mid-January this year. It has 600 racks and is adjacent to […]
Nigeria Sovereign Investment Authority (NSIA), in a very impressive performance for 2014 notched N15billion in generated net income against a dismal N505 million for the preceding year (2013). MrUche Orji, The Managing Director, announced this while addressing newsmen on Authorities Financial Year report on Monday in Abuja. “Total revenue during the period
Dangote Group has raised the scale of standards in Senegal’s construction sector, with the introduction of the higher quality 42.5 grade cement into the African country. The company rolled out products from its $300 million Cement Plant in Senegal amidst excitement by the country’s government for creating 5,000 direct employment. The giant stride of Dangote […]
The federal government has announced plans to secure a $2 billion loan from the World Bank and the African Development Bank (AfDB) in a bid to aid the implementation of its policies and programmes for the year. The federal government made its plans known during an interactive session with journalists in Abuja organised by the […]
Stakeholders are calling for the restructuring of the educational sector to accommodate specialized training of innovators to drive economic diversification. Speaking at the 2015 Verdant Zeal Innovention Summit held in Lagos, foremost economist, Professor Pat Utomi, noted that education and culture were critical to developing growth and development through innovation. He
The Federal Ministry of Finance (FMF) has held three days orientation and employability training for interns and participating firms under the Graduate Internship Scheme (GIS) of the Subsidy Reinvestment and Empowerment Programme (SURE-P). According to the ministry, the training was part of efforts to reduce the current alarming rate of graduates’ unemployment in the
The New Minister of State for Industry, Trade and Investment, Chief Kenneth Kobani has assumed duty at the Headquarters of the Ministry in Abuja, pledging to give priority attention in line with the ministry’s mandate to growing the economy through promotion of non-oil and industrial sectors. On arrival the Kobani was received by the Permanent […]
The Nigeria Communication Commission (NCC), has disclosed that Nigeria has achieved a teledensity of 100 per cent as at January 2015, despite a challenging operating environment. The Executive Vice Chairman of NCC, Dr. Eugene Juwah, was represented by the NCC’s Director of Public Relations, MrTony Ojobo,  announced this in Enugu on Sunday at a […]
The Federal Government has expressed confidence that the Petroleum Industry Bill, (PIB), before the National Assembly will be passed before the end of the current political dispensation which terminates by May 29. Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke who was represented by Group Managing Director, Nigerian National Petroleum Corporation, NNPC, Mr.
The British economy is heading for a spell of deflation as official figures are expected to show that inflation dropped to 0.1% last month. Analysts expect the UK’s consumer price inflation figure for February to fall from 0.3% in January, driven by lower energy and food prices. Some economists think the monthly update from the […]
