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 ...

Oil workers in Nigeria yesterday declared that they would begin nationwide rallies today in protest against the current massive theft of the country’s crude oil and destruction of oil assets, in a bid to force government to act and halt the menace.Coming under the Petroleum and Natural Gas Senior ...

Many fillings stations were shut on Tuesday leading to lengthy queues by motorists for Premium Motor Spirit, popularly called petrol, at the few outlets that dispensed the commodity in Abuja and neighbouring states.Petrol scarcity resumed again in the Federal Capital Territory and environs on ...

Contrary to the present practice where Nigeria depends on operators for production data to determine daily volume and oil earnings, the Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), yesterday, said it would commence the installation of its own flow ...

Uber today announced expansion of its operations in Nigeria extending to Owerri, Imo state and Akure, in Ondo state.The new cities now make Uber’s presence felt in 11 Nigerian cities among the 18 cities across West Africa.The ride hailing company said these expansions signal more access to earning ...

Two weeks after suspension of the nationwide strike by electricity workers that threw the nation into blackout, indications have emerged of a fresh looming strike over alleged unwillingness of government to resolve issues of unpaid entitlements to former workers of the defunct Power Holding Company ...

The e-valuation policy of the Nigeria Customs Service (NCS) has been described as suffocating and retrogressive to both the vehicle dealers and the Nigerian economy.President, Association of Motor Dealers of Nigeria (AMDON), Prince Ajibola Adedoyin, who made this known during a media briefing  at ...

The Edo State Governor, Mr. Godwin Obaseki, has decried Nigeria’s continued importation of petroleum products despite being one of the largest producers of crude oil in the world.The governor made the submission while speaking with journalists at Ewohimi, Esan South East Local Government Area of ...

The Vice President, Professor Yemi Osinbajo, is expected to lead stakeholders in the agricultural sector to discuss sustainable ways to boost the cocoa industry value chain in the country at the 2022 National Cocoa Festival.The festival is organised by the Cocoa Farmers Association of Nigeria, in ...

Economic activities in the manufacturing sector of the Nigerian economy experienced a fall in output levels in August as the productivity of the Nigerian private sector reduced marginally during the month when compared to the preceding month, a new report has revealed.The new report by the Stanbic ...

The Director-General of the Debt Management Office (DMO), Mrs. Patience Oniha yesterday confirmed that Nigeria’s total debt profile as at March, 2022 stood at N41.60 trillion.Oniha said this during her appearance at the ongoing engagement on the 2023 – 2025 Medium Term Expenditure Framework (MTEF) ...

 In Nigeria, high inflation has  been one of the major challenges facing the nation’s economy. During an inflationary period, the domestic currency finds it difficult to act as a medium of exchange and a store of value without adversely affecting output level, income distribution and employment ...

Whenever I think of Lagos as a whole,series of things like the crowded people, open gutters, littered streets, poor drainage systems, stench saluting our nostrils,passenger buses painted yellow with black stripes around it.Place of crime and all forms of atrocities,a place where one comes to hustle ...

A big hope for Nigerians.NNPC's GCEO confirmed that the Dangote refinery - which is billed to resume in 2023 - and other state-owned refineries will help end the importation of petroleum products.Mele Kyari said: "If that happens and we are very optimistic it will happen, you would see that this ...

The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, Mallam Mele Kyari, yesterday said the country would end importation of petroleum products by June 2023.He also said the Lagos-based 650,000 barrels per day Dangote Refinery under construction would ...

By Ronald AdamolekunFidelity Bank has agreed to take over the United Kingdom unit of Nigeria’s second oldest lender, Union Bank, the former said Tuesday.It is the latest phase in the train of divestments by the latter which, beginning late last year, saw Union Bank offload 90 per cent of its ...

 Nigeria overtakes Egypt as the largest producer of rice in Africa

Katsina State Deputy Governor, Alhaji Mannir Yakubu, says the federal government has released N6.25 billion for the establishment of cattle ranches in local government areas affected by banditry in the state.Yakubu, also Commissioner for Agriculture and Rural Development, disclosed this during the ...

By Funmilayo Fabunmi  A former Director-General of the Nigerian Civil Aviation Authority, Dr. Harold Demuren, has urged the Federal Government to allow first-class and business-class passengers to buy tickets in dollars, while passengers in economy class can pay in naira.Demuren proposed this as a ...