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 ...

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 ...