Abia Speaker Calls On Investors To Utilize Abia’s Friendly Business Environment As He Commissions BakeryThe Speaker of Abia State House of Assembly, and the Peoples Democratic Party flagbearer for Ikwuano/Umuahia Federal Constituency, Right Honourable Chinedum Enyinnaya Orji MNSE has called on ...

Official: 2002 Agreement Between Kogi State Government and Dangote Industries Limited on Obajana Cement PlantExtracts from the duly signed and stamped agreement:1. Project was at conceptual stage in 19922. Preliminary feasibility study carried out in 19923. Obajana Cement Company Plc with ...

As reported on this page last week, the National Pension Commission (PenCom) recently issued Guidelines on Accessing Retirement Savings Account (RSA) Balance towards Payment of Equity Contribution for Residential Mortgage by Retirement Savings Account (RSA) Holders. Key highlights of the ...

By Kayode Tokede:  Affirming trust in the expertise and competence of the leading rice-producing company, WACOT Rice Limited, subsidiary of TGI Group, the Lagos State Government has signed an agreement with it to manage the Imota Rice Mill.The 32-metric tonnes Imota Rice Mill will be handed over to ...

THE acting comptroller of the Federal Operations Unit, Zone A of the Nigeria Customs Service (NCS), Hussein Ejibunu, has said that the law backing the service, coupled with the drive to improve local production of clothes and avoid outbreak of diseases, is the reason why the Federal Government ...

By Sunday Aborisade:Senators across political party lines have said the National Assembly would not pass the proposal on petrol subsidy removal as presented by President Muhammadu Buhari in order not to create crisis for the new administration that would succeed him next year.Buhari had in the 2023 ...

Emmanuel Addeh:The Group General Manager of the National Petroleum Investment Management Services (NAPIMS), Mr Bala Wunti, at the weekend announced that the Nigerian National Petroleum Company Limited (NNPC) had concluded the clamping of the damaged Trans Niger Pipeline (TNP) in the Niger Delta.It ...

By Rebecca Ejifoma:Fire, Sunday, gutted a section of the popular Balogun market in Lagos state, destroying goods and property.The affected building on Martins Street Brazaas Plaza, housed a handful of stores selling shoes, bags, accessories and ladies’ clothing. Emergency responders from the Lagos ...

By Festus Akanbi, Gboyega Akinsanmi, Dike Onwuamaeze  and James Emejo:Following the presentation of a N20.51 trillion appropriation bill for 2023 to a joint session of the National Assembly in Abuja on Friday, some economists have raised concerns over the proposed spending plan given current ...

By Deji Elumoye, Sunday Aborisade and Udora Orizu:President Muhammadu Buhari yesterday, while presenting a record N20.51 trillion 2023 appropriation bill to a joint session of the National Assembly in Abuja, announced the discontinuation of subsidy on petrol in the country effective next year.The ...

The Kogi State government on Saturday said it has uncovered plans by Dangote Group to cause chaos in Kogi State “as a fight back strategy against the State Government’s decision to get its own legally supported equity from the Obajana Cement Company”.In a statement by Kingsley Femi Fanwo, the Kogi ...

Dangote Cement Plc has disclosed that 27 workers of the company were shot at when armed thugs suspectdly acting on the order of Kogi state government invaded its Obajana cement plant.The company in a statement by its Group Managing Director, Michel Pucheros, said that the invasion was carried out ...

By Deji  Elumoye:President Muhammadu Buhari has disclosed that Nigeria has strategic mineral resources in its seabed, which will be exploited through adequate deployment of technology.The President spoke yesterday at State House, Abuja, while playing host to Secretary General of the International ...

By Bennett Oghifo and Dike Onwuamaeze:The Management of Dangote Cement Plc. yesterday firmly declared that the Obajana Cement plant in Kogi State is owned 100 per cent by it and that the invasion of the plant last Wednesday by armed vigilantes “on the orders of the state government” was illegal.In ...

By Iyke Bede:Nollywood actor Kate Henshaw, and skit comic actor Adebowale Adedayo, popularly known as Mr Macaroni, partook in the allocation of lands to buyers at the recently held official launch of Jasper Smart City in Isheri North GRA. Jasper City project is an initiative of Gtext Homes, a real ...

By Adibe Emenyonu:The Benin Electricity Distribution Company (BEDC), yesterday, flagged off customers’ service week with the distribution of free metres 20 prepaid metres to customers with estimated bills complaints.The Managing Director/Chief Executive Officer of BEDC, Dr. Henry Ajagbawa, who ...

The Kogi Government on Thursday expressed determination to recover Obajana Cement Plant from Dangote and his accomplices.The government’s resolution is contained in the report of the Specialised Technical Committee on the Evaluation of the Legality of the Alleged Acquisition of Obajana Cement ...

By Chinedu Eze:The Nigerian Air Traffic Controllers’ Association (NATCA) has urged the Minster of Aviation, Senator Hadi Sirika, to accelerate the confirmation of Mr. Matthew Lawrence Pwajok, who is in acting capacity as Managing Director of the Nigerian Airspace Management Agency (NAMA), as ...

By Emma Okonji:One year after Google announced its five-year plan for African projects that would gulp $1 billion, the technology company has said that it had already spent over 20 per cent of the budget, which covers the establishment of its first cloud region in Africa.Managing Director, Google ...

By Juliet Akoje:The Nigerian Communications Commission (NCC) yesterday said it was going to deploy technology to verify tax and other payments to the federal government by network service providers.The Executive Vice Chairman of NCC, Prof. Umar Danbatta, said this yesterday when he appeared before ...

LAGOS STRIKES DEAL WITH PRIVATE FIRM TO MANAGE, OPERATE 32-METRIC TONS IMOTA RICE MILL•Sanwo-Olu presides over MoU signing with WACOT Rice LtdAhead of the commissioning and operation of the 32-metric tons per hour Rice Mill in Imota, Ikorodu, Lagos State Government has handed over the management of ...

By Kayode Tokede:Geregu Power Plc (GPP) was yesterday admitted into the Main board of the Nigerian Exchange Limited (NGX) by way of listing by Introduction (LBI) with the admittance of 2.5 billion ordinary shares of 50 kobo each at N100 per share on the Exchange.Geregu Power, a leading power ...

These are four powerful brands positioning to lead their respective sectors and they are aggressive about it, not just in the kind of aggressive adverts and marketing they have embarked on but in terms of the quality of their products and services. Most of these brands are franchises but their ...

By Gilbert Ekugbe:The federal government has announced plans to revitalise Nigeria’s textile industry with the introduction of Bt Cotton, noting that the move would create massive employment particularly for Nigerian farmers in the country.The Director-General, National Agricultural Biotechnology ...

The Nigerian National Petroleum Company Limited (NNPCL) has acquired all 380 Oando retail outlets, aviation and gas brands nationwide from OVH Energy.Speaking at the unveiling of one of the new NNPC Ltd stations formerly Oando in Abuja on Saturday, the Group Chief Executive Officer NNPC Limited, ...

Lagos, Delta and Ogun are the three States with the highest domestic debt figures in Nigeria as of June 30, 2022, DAILY POST has learnt.According to the Debt Management Office (DMO), many States have borrowed more between the first and second quarters of the year 2022. In March, the 36 States and ...

The National Pension Commission (PenCom) recently issued Guidelines on Accessing Retirement Savings Account (RSA) Balance towards Payment of Equity Contribution for Residential Mortgage by RSA Holders. This laudable development has actualised the provisions of Section 89 (2) of the Pension Reform ...

By James Emejo:The Nigeria Deposit Insurance Corporation (NDIC) has disclosed that the total amount resulting from bank fraud and forgery cases stood at N120.79 billion in 2020.This, however, represented a decline by 40.98 per cent when compared with the N204.65 billion recorded in ...

By Ejiofor Alike, Peter Uzoho and Emmanuel Addeh:The Nigerian National Petroleum Company Limited (NNPCL) continued its zero funding for the federation account in August, extending its prolonged non-remittance to the federal, state and local governments to eight months.The development came against ...

By Omolabake Fasogbon:An urgent implementation of the Steve Oronsaye report towards cutting cost of governance has been highlighted as a workable panacea for Nigeria’s rising debt profile.Director-General of Budget Office of the Federation, Ben Akabueze emphasized this at the 46th yearly conference ...

EXCLUSIVE: NNPC declares zero FAAC remittance for eighth time as subsidy gulps N2.6trnThe Nigerian National Petroleum Company (NNPC) Limited says it deducted N525.71 billion as a shortfall for the importation of petrol (subsidy) in August 2022.Subsidy or under-recovery is the underpriced sales of ...

By Segun James:The United States Department of Agriculture’s Food for Progress programme has entered into a cooperative agreement with Lutheran World Relief to strengthen the cocoa value chain in Nigeria.The project, which is worth approximately $22 million and will be implemented over the next ...

The Edo State Governor, Mr. Godwin Obaseki, is in talks with the Turkish Government to explore areas of investment so as to sustain the gains recorded by the government in agriculture, healthcare and education, among other sectors of the state’s economy.The governor received the Turkish Ambassador ...

By Mary Nnah:It’s going to be Mum-rewards season as Nigeria’s family-centric dairy brand from the stable of FrieslandCampina WAMCO, Three Crowns milk, is set to return with its highly regarded Three Crowns Mum of the Year competition.The annual ‘Mum of the Year campaign began in 2015 intending to ...

Kemi Olaitan:The leadership crisis among traders in Oyo State yesterday took a new dimension, when over 500 traders stormed the state Government Secretariat in Agodi, Ibadan, to protest against what they described as a conspiracy to install Alhaji Yekini Abass as the Babaloja-General of Oyo ...

Operators of commercial tricycles in Awka, the Anambra State capital have protested the enforcement of a monthly N15,000 tax by the state government.Tribune Online gathered that the operators complained over the constant hounding of their members by policemen, personnel of OCHA Brigade, a civil ...

Globacom, which recently marked its 19 years of quality services delivery in Nigeria has been named the Most Popular Brand in the country for the year 2022. This was contained in a statement made available to newsmen as part of the public presentation of the 2022 brand evaluation by ‘TOP 50 BRANDS ...

By Deji Elumoye and Sunday Aborisade:Stakeholders including a major cable television firm in the country, MutiChoice Nigeria, have told the Senate that the pay per view model being canvassed in some quarters, as against the current monthly billing, is not feasible.They made their submissions at a ...

First Bank of Nigeria says it will suspend international transactions on its naira Mastercard from September 30.In March, financial institutions reduced the international spending limit on naira cards from $100 to $20 monthly.In a recent statement to its customers, the bank said such transactions ...

By Blessing Ibunge:The alarming exchange rate has been described as a major challenge affecting the Nigerian economy, and which has brought untold hardship on Nigerians.A business analyst, Mr. My-Ace China, who spoke on the dwindling economy of the country, noted that Nigerians now patronise ...

By James Emejo:The average retail price for refilling a 12.5kg cylinder of Liquefied Petroleum Gas, also known as cooking gas increased by 119.26 per cent, year on year (Y-o-Y) to N9,899.34 in August 2022 compared to N4,514.82 in August 2021, according to data from the National Bureau of Statistics ...

Dangote Industries has emerged the Most Valuable Brand in Nigeria for a record 5th year in a row at the outcome of the 2022 corporate brand evaluation, conducted by the leading brand and marketing research firm, TOP 50 BRANDS NIGERIA.Dangote emerged top with an aggregate score of 83.7 Brand ...

Lagos State government has topped the list of highly indebted states in the country, with a figure of N797. 304 billion out of the N5. 281 trillion owed by the sub-nationals, as at June 30, 2022.Data from the Debt Management Office (DMO) indicated that Delta, Ogun and Rivers followed Lagos with ...

On the sidelines of the ongoing 77th UNGA, I held business discussions with a group of investors ready to come to Lagos State at a roundtable organized by the Business Council for International Understanding (BCIU).I used the opportunity to highlight the major strides our state has made in the past ...

By Ndubuisi Francis, Sunday Aborisade, Udora Orizu and Nume Ekeghe:The House of Representatives at the resumption of plenary yesterday joined the growing number of Nigerians that had expressed concern that the country might be approaching a debt trap, as the Debt Management Office (DMO) revealed ...

By Sunday Aborisade:President Muhammadu Buhari, in separate letters of requests Moday, urged the Senate to approve the issuance of promissory notes totalling over N402 billion.The first request amounting to N375 billion, was read at plenary by President of the Senate, Ahmad Lawan, and it was meant ...

By Sunday Aborisade:President of the Senate, Ahmad Lawan, has raised the alarm that the massive crude oil theft in the oil-rich Niger Delta region is gradually pushing the nation’s economy into a coma. Lawan stated this at the Senate plenary Tuesday while welcoming his colleagues  back from their ...

The federal government says it is proposing legislation to ban the consumption of animal skin, locally known as ponmo, in the country to revive tanneries.Muhammad Yakubu, director-general, Nigerian Institute of Leather and Science Technology (NILEST), Zaria, said this in Abuja on Sunday.Yakubu said ...

The Debt Management Office has disclosed that Nigeria’s total public debt stock has increased from N41.60tn as of March 2022 to N42.84tn as of June of the same year, showing an increase of N1.24tn in three months.This is according to a press statement published on the DMO’s website on Monday.The ...

The National Pension Commission (PenCom) introduced the Multi-Fund Investment Structure to align contributors’ risk appetite with their investment horizon at each stage of their life cycles. The structure also seeks to provide investment choices for contributors and enhance the safety of pension ...