Business Economy Food & Nutrition Wellbeing

Desist from alteration of expiry date on products, Lagos govt warns manufacturers

Ihesiulo Grace 2 October 2019 0

The Lagos state government has warned manufacturers and service providers to desist from the tactical alteration of expiry date on products to deceive wholesalers and retailers. This was disclosed recently by the General Manager, Lagos State Consumer Protection Agency (LASCOPA), Mrs Kemi

Economy

Cleric urges FG to provide more jobs for youths

Ihesiulo Grace 30 September 2019 0

Abuja – Rev. Dealyn George, the Regional Overseer, Abuja Regional Headquarters of the Apostolic Faith Church, has urged the Federal Government to provide more jobs for youths in the country. George said Sunday in Abuja that the problems of the country woud be drastically reduced if the youths are taken care of. “The government needs […]

Economy Politics

Nigeria @ 59: Nigeria yet achieve her potentials for greatness – Nnamani

Ihesiulo Grace 30 September 2019 0

Chairman of the Senate Committee on Cooperation and Integration in Africa/NEPAD, Senator Chimaroke Nnamani has said that most African nations, Nigeria is yet achieve her potentials for greatness envisaged at independence which she attained through fierce battles, sweat and blood, many decades after. Just as he tasked leaders to address the problems of poverty, ignorance

Business Economy Politics World

UNGA:We need private investment in power sector -LASG

Ihesiulo Grace 25 September 2019 0

The Lagos State Government has called on private investors to assist the state in the provision of 9,000 megawatts to enable it transform the economy of the state. Gov. Babajide Sanwo-Olu made the call at the Corporate Council on Africa Forum on the sideline of the ongoing 74th Session of the United Nations General Assembly […]

Banking Business Economy Money Money Technology

Penchant for cash transactions, bane of digital payment system – eTranzact DMD

Ihesiulo Grace 20 September 2019 0

The Deputy Managing Director (DMD), eTranzact International Plc., Hakeem Adeniji-Adele, has identified the Nigerian culture and penchant for cash transaction as the bane of digital payments in the country. He made the assertion as the latest figures from the Nigeria Inter-Bank Settlement System (NIBSS), which put the total value of transactions on automated teller machines

Agriculture Banking Business Economy

BIPC to empower women, youths to create wealth, says MD

Ihesiulo Grace 20 September 2019 0

These include the provision of small and medium scale loans through the company’s micro finance bank, agricultural activities as well as an annual talent hunt show in partnership with the Board of Internal Revenue Service (BIRS). Adum, also appealed to the Benue state Governor, Samuel Ortom to review the agreement between the state and the […]

Business Economy

Over 100,000mt of cargoes, 13 ships to hit Warri ports

Ihesiulo Grace 20 September 2019 0

Over 100,000 metric tons of both dry and wet cargoes will be received at the Warri ports signalling sustained business activities at the port, which has remained unpatronised in the past. Warri port appears to sustain the improved activity that set in July, as no less than 13 ships laden with over 100,000 metric tons […]

Business Economy Money Money Oil & Gas

Excess Crude Account hits all-time low at $274.583m

Ihesiulo Grace 20 September 2019 0

Nigeria’s Excess Crude Account has been depleted to an all-time low of $274.583 million, which is believed not adequate to sustain the country in a stormy financial shock should oil prices fall below the budget benchmark. The Honourable Minister of State for Budget and National Planning, Zainab Ahmed, disclosed this while reporting to the National […]

Crime Economy

Update: P&ID $9.6bn scandal: court remands ex-director in prison

Ihesiulo Grace 20 September 2019 0

The National High Court of the Federal Capital Territory in Abuja, on Friday, ordered the imprisonment of a former Director, Legal Services of the Ministry of Petroleum Resources, Mrs. Grace Taiga, over the offences connected with the controversial P&ID $9.6bn judgment. Justice Olukayode Adeniyi ordered that the defendant be remanded in the Suleja Prison in […]

Banking Business Economy Money

CBN reschedules September 2019 MPC meeting

Ihesiulo Grace 18 September 2019 0

Temitope Adebayo The Central Bank of Nigeria (CBN) has rescheduled its September 2019 Monetary Policy Committee (MPC) meeting by one week. The Director of Corporate Communications, Isaac Okoroafor disclosed this in a statement released on Tuesday. Okoroafor noted that the meeting earlier scheduled for next week will now hold on Thursday and Friday this week. […]

Business Capital Market Economy

FG to auction N150bn bonds next week -DMO

Ihesiulo Grace 18 September 2019 0

Temitope Adebayo The Debt Management Office (DMO) has disclosed that the Federal Government has offered for subscription by auction N150 billion worth of bonds in its Sept. 25 auction. The Debt office in offer circular obtained from its website on Tuesday, stated that it would sell N45 billion of a five-year re-opening issue maturing in […]

Analysis Business Economy

Nigeria’s inflation slows further to 11.02% in August- NBS

Ihesiulo Grace 18 September 2019 0

Motolani Oseni The National Bureau of Statistics (NBS) said the nation’s inflation rate slowed to 11.02 per cent (year-on-year) in August 2019, a 0.06 per cent points lower than 11.08 per cent it recorded in July 2019. The latest NBS data, also, revealed that the inflation rate for August represents the lowest this year. The […]

Business Economy

Equities market begins trading low as indices down 0.74%

Ihesiulo Grace 17 September 2019 0

Temitope Adebayo The Nigerian equities market of the Nigerian Stock Exchange (NSE) resumed trading week on Monday with a loss of 0.74 per cent, following losses achieved by medium and large equities. Specifically, the All Share Index (ASI) shed 204.68 points or 0.74 per cent to close at 27,574.32 against 27,779.000 achieved on Friday. Similarly, […]

Business Economy Oil & Gas

Despite crude oil surge, Nigeria won’t adjust projections for 2020 budget – Minister

Ihesiulo Grace 17 September 2019 0

Philip Clement – Abuja The Minister of Finance, Budget and National Planning, Zainab Shamsuna Ahmed, has dismissed any insinuation that Nigeria will adjust her crude oil price projections in the 2020 budget. Following the bombings on oil installations in Saudi Arabia, crude oil prices had surged to its highest of about $70 bar barrel. However, […]

Business Economy Industry Telecoms

Agriculture, Manufacturing, others to take centre stage at Nigeria economic summit

Ihesiulo Grace 17 September 2019 0

Philip Clement – Abuja The Minister of Finance, Budget and National Planning, Zainab Shamsuna Ahmed on Monday said the agricultural, manufacturing, Informational and Communication Technology (ICT) sectors will be the key focus of the forthcoming Nigeria Economic Summit (NES). Ahmed made the disclosure at a press briefing ahead of the 25th Nigeria Economic Summit

Business Economy Technology

Centenary economic city, others not among inactive free zones -NEPZA

Ihesiulo Grace 13 September 2019 0

Philip Clement – Abuja The Nigeria Export Processing Zones Authority (NEPZA) has dismissed reports making rounds suggesting that the Centenary Economic City Free Zone, Tomaro Free Zone and Abuja Technology Village (ATV) Free Zone are inactive Free Zones. NEPZA dismissed the report in a statement by its Head of Corporate Communications, Simon Imobo-Tswam in Abuja.

Banking Business Economy

CBN reviews e-payments regulation for public, private sectors

Ihesiulo Grace 11 September 2019 0

…Lifts forex market with $210m FX injection Motolani Oseni The Central Bank of Nigeria (CBN) on Tuesday released regulation for electronic payments and collections for public and private sectors in the country. This is just as the apex bank boosted the interbank segment of the Foreign Exchange Market with an injection of $210 million. The […]

Business Economy News

Nigeria’s tax revenue low due to distrust in system-NESG

Ihesiulo Grace 11 September 2019 0

Joy Obakeye The Nigeria Economic Summit Group (NESG) has said that more than 81 per cent of taxable adults and businesses in Nigeria do not pay their income taxes regularly due to distrust in government. The group lamented that according to figures available, the 20 million registered taxpayers, compared to the country’s population of nearly […]

Economy Opinion

Could the CBN be big enough to apologise to MTN shareholders?

Ihesiulo Grace 12 October 2018 0

The last few weeks have seen a rather unpredictable series of developments in the on-going CBN versus MTN dispute on capital repatriation. Initially, a series of placatory statements by the Central Bank Governor indicating a less confrontational approach to the issue provided some calm to the market. Those hoping to see a more mature and […]

Analysis Economy

Buhari’s re-election: A case of a kingdom divided against itself?

Ihesiulo Grace 7 October 2018 0

By Ezedi Udom   Last month a multinational banking and financial services company, the HSBC, made public its report on the future of the Nigerian economy if President Muhammadu Buhari wins the 2019 presidential election. The report, compiled by its Global Research Unit, and titled, ‘Nigeria, Papering over the Cracks,’ said Nigeria’s current economic struggles […]