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 ...

By  Okechukwu Nnodim  Pandagric Novum, an agriculture firm with over N10bn investment from the Federal Government, is set to increase maize export from Nigeria and boost food security across the country.As an integrated feed and food manufacturing company, the firm said it would contribute to ...

By Deji Elumoye:Nigeria, in collaboration with the Africa Business Roundtable, will this week hold the second edition of the Nigeria International Economic Partnership Forum (NIEPF), a global economic investment platform, in New York, the United States of America. The Forum, according to a release ...

Godwin Nwabunka, founder and CEO of the Grooming Centre, a microfinance-oriented NGO, explains why his entire life is devoted to adding value to human existence, starting with the bottom of the pyramid-he grassroots. He spoke with Nduka Nwosu. Excerpts: Godwin Nwabunka radiates simplicity, which ...

By Bennett  Oghifo:Mercedes-Benz Vans, full range provider of electric private and commercial vans, and electric vehicle manufacturer Rivian, have today announced the signing of a Memorandum of Understanding to initiate a strategic partnership. The partnership will enable the companies to cooperate ...

By Mary Nnah:ShopEX, a Premium TV shopping platform, is set to launch Nigeria’s first TV infomercial across select DSTV channels this September as it celebrates 40,000 transactions with customers since its launch in 2020.Featuring TV star Mercy Johnson, and social media celebrity chef Tola (aka ...

Borno  State Governor, Prof. Umaru Zulum, has said plans are being concluded by governors from the North-East to establish a commercial airline for the region.Zulum who doubles as Chairman, North-East Governors’ Forum, made this disclosure on Friday while declaring its seventh meeting open.The ...

September 16, 2022Press StatementAtiku travels to Europe on businessThe presidential candidate of the Peoples Democratic Party and former Vice President of Nigeria, Atiku Abubakar will travel to Europe this afternoon on a business trip.He will be travelling immediately after his meeting on Friday ...

 By Chinelo Obogo, Lagos The Nigeria Civil Aviation Authority (NCAA) has withheld the Air Transport License (ATL) of Azman Air till it signs a Memorandum of Understanding (MoU) on how it would remit the N1.2 billion debt incurred from the collection of Passenger Service Charge (PSC).An ATL is one ...

Victor Ozomoge, founder and chief executive officer of Zomoge Inspired, a high class tailoring outfit, is a tailor with a difference. Ozomoge whose firm offers unusual and refined outfits most creatively  would rather be called simply a tailor than being referred to as a fashion designer as other ...

By James Emejo:The Consumer Price Index (CPI) which measures inflation rose to 20.52 per cent year on year in August compared to 17.01 per cent in the corresponding period in 2021,  the National Bureau of Statistics (NBS) said Thursday.It said the 3.52 per cent rise indicated that the headline ...

By Deji Elumoye:The end appears to be in sight to the perennial scarcity of petroleum products across the country as the federal government yesterday gave an assurance that the rehabilitation work on the Port Harcourt Refinery would be completed for it to resume full production by December, ...

The Nigeria Deposit Insurance Corporation (NDIC), the official Liquidator of the underlisted defunct banks (in-liquidation), hereby notify the general public of the final call for dividend declaration to Depositors of these banks. Depositors who do not establish their claim to the satisfaction of ...

By Emmanuel Addeh:The Nigerian National Petroleum Company Limited (NNPCL) will tomorrow (Thursday) sign a Memorandum of Understanding (MoU) on a gas pipeline project with the National Office of Hydrocarbons and Mines of Morocco and the commission of the Economic Community of West African States  ...

By Ndubuisi Francis and James EmejoPresident Muhammadu Buhari yesterday commended the Central Bank of Nigeria (CBN), alongside the Nigeria Deposit Insurance Corporation (NDIC), the National Insurance Commission (NAICOM) and the Securities and Exchange Commission (SEC), including other critical ...

By Sunday AborisadeThe Senate yesterday rejected the 2023-2025 Medium Term Expenditure Framework and Fiscal Strategy Paper(MTEF/FSP) which proposed a N6 trillion tax and import duties waivers proposed for in the N19.76 trillion 2023 budget which also contained a deficit of N12.4 trillion.The Upper ...

A frontline manufacturer of rigid foam in Nigeria, Vitafoam Nigeria PLC, has bagged the much-coveted West Africa Innovation Award of Excellence following the company’s continuous development of innovative products and sustenance of exemplary customer care.Presenting the award at the company’s ...

By James EmejoPresident Muhammadu Buhari is expected to declare open the 17th annual Abuja International Trade Fair (AITF) scheduled to be held in Abuja.Speaking at a media briefing, the Minister of Federal Capital Territory (FCT), Muhammad Bello, said the president had personally given his promise ...

10 Key Takeaways from OctaFX’s Report on the Rising Trend of Online Forex Trading in NigeriaInternational Forex broker, OctaFX, produces a report that discusses the rising trends of Online Forex Trading in Nigeria. This report examines the trends in the Nigerian forex exchange market, key players, ...

Nigeria has continued to waste the rare opportunity presented by the global rise in oil prices to grow its economy like other oil-producing countries, London-based The Economist has stated.While a surge in oil prices could do astonishing things, like in Saudi Arabia where a futuristic city was ...

By James Emejo:The federal government yesterday said it was working to improve the country’s earnings from cashew exports to about $4 billion annually.Nigeria currently generates about $450 million from the export of the commodity which had been described as too low for the country.Speaking at a ...

By Emmanuel Addeh:A report by Proshare, a market intelligence and data analytics firm, has said that oil theft persists in Nigeria because all the institutions of state lack the will and determination to end the menace.In the report which dived deep into the magnitude of crude oil theft in Nigeria, ...

The value of manufactured goods traded tumbled by 36 per cent from N4.51tn in the second quarter of 2021 to N2.87tn in the corresponding period of 2022, findings by The PUNCH have shown.This is according to the foreign trade report by the National Bureau of Statistics for the second quarter of the ...

FG Task NAIRAXI, Others On Interventions In Transport SystemBy Godson IkpontuFederal Government has charged Nigeria’s Indigenous tech-powered mobility company (NAIRAXI ) and other private sectors on the invention to deploy workable strategies aimed at tackling challenges of mass transit across the ...

By Deji Elumoye and Emmanuel Addeh:With Nigeria’s petrol subsidy bill skyrocketing in 2022, the estimates for the whole year would exceed the total expenditure by all the states of the federation in 2021, which was $9.8 billion, a new report by a member of President Muhammadu Buhari’s Economic ...

Edo State has the third highest number of licences for solid minerals exploration and the state government has said it remains committed to partnering stakeholders in the mining industry to increase production in the sector.The Edo State Commissioner for Mining, Oil and Gas, Ethan Uzamere, was ...

Nigeria’s underproduction of crude oil will persist as repair work on Forcados, a key oil terminal, will drag till the end of September, after months of halted flows contributed to hobbling the country’s supply performance in August.The repairs to a subsea hose have stopped exports of Forcados ...

By Omolabake Fasogbon:The Institute of Chartered Secretaries and Administration of Nigeria (ICSAN), has said that it would address Nigeria’s increasing debt profile, with a view to proffering realistic solutions at its upcoming 46th National Conference. Vice President of the ICSAN, Mrs Funmi ...

By Tony ChukwunyemThe Federal Government expects the naira to weaken further over time even after the local currency showed signs of recovering from a record low on Thursday, Bloomberg reported the Minister of Finance, Budget and National Planning, Zainab Ahmed, as saying yesterday.According to the ...

A total of N714.4 billion was generated from Company Income Tax (CIT) in the second quarter of 2022 a 29.53  per cent increase compared to N551.53 billion generated in the first three months of the year. Most of the income came from the manufacturing, financial services and information technology ...

By Don Silas The Naira on Friday lost slightly to the dollar, exchanging at N436.33 compared with N436.32 on Thursday.The open indicative rate closed at N433.83 to the dollar on Friday.An exchange rate of N437 to the dollar was the highest rate recorded within the day’s trading before it settled at ...

LAGOS-Aare Ona Kakanfo of Yorubaland, Iba Gani Adams on Friday said the issue of crude oil theft in the country would have been significantly reduced if the Federal government had not terminated the pipeline sur­veillance contract it had with the Oodua Peoples Congress (OPC) and some security ...

President Muhammadu Buhari says crude oil theft must be addressed.He made this statement during the inauguration of the Presidential Committee on National Economy which he inaugurated in his office on Friday.Acknowledging the impact of the menace on the nation’s revenue exchange, the President ...