Nigeria News
Nigeria over regulated, says NESG
Members of the Nigeria Economic Summit Group (NESG) have cried out that the Nigerian space is over regulated. Chairman of the NESG Asue Ighodalo made this known in Abuja on Tuesday when he presented the report of the 26th NESG summit which held last year to the minister of finance. According to Ighodalo, “we are […]
APC membership registration finally ends today
The Caretaker/Extra-Ordinary Convention Planning Committee of the All Progressives Congress has said the nationwide membership registration/revalidation will finally end on Wednesday (today) after three extensions. The National Secretary of the APC CECPC, Senator John Akpanudoedehe, made this known to our correspondent in Abuja on Tuesday. The first phase of the exercise was earlier scheduled to […]
Senate Seeks Policies to Encourage Local Investors in Cement Production
The Senate has called on the federal government to provide more industrial incentives and protections such as concessionary loans and larger tax incentives for new entrants into the local cement production with a view to boosting production, reduction of price and encouragement of more valuable producers in the country. The Senate passed a resolution at […]
No COVID-19 death in nine days, says NCDC
The Nigerian Center for Disease Control reported zero COVID-19-related death for the ninth consecutive days as the nation’s fatality toll remains 2,061. The NCDC disclosed this on its official Twitter handle on Tuesday. The News Agency of Nigeria reports that the country last registered a COVID-19-related death on April 11. It reports that aside from […]
Buhari Mourns as Chadian President, Deby, Dies Fighting Rebels
President Muhammadu Buhari has mourned President Idriss Deby of Chad, describing him as a gallant leader. Deby, who was newly re-elected for the sixth term, died yesterday from injuries sustained while fighting rebels. Buhari, in a condolence message by his media assistant, Malam Garba Shehu, expressed sadness over “the sudden and tragic death of President […]
Air power, ground troops, other needed to wipe out bandits – El-Rufai
The Nigerian Governors’ Forum has reached an agreement that bandits must be completely “wiped out” of the country, the Kaduna State Governor, Nasir El-Rufai, said on Tuesday. El-Rufai also charged security agencies to eliminate anyone found in the hideouts of bandits, adding that no inhabitant of forests were innocent. He said so long as the […]
LATEST CEO INTERVIEW RESPONSE
‘Why we are establishing more fertiliser plants in Nigeria ‘ Food security is key to the livelihoods of millions of Nigerians. To increase their yields, OCP Nigeria is partnering with the Federal Government through Nigeria Sovereign Investment Authority( NSIA) in developing the Ammonia fertiliser industrial plants . Its Managing Director, Mohammed Hettiti discusses with DANIEL ESSIET the company’s investment plans and as his view on […]
Despite Criticisms, Governor Masari Trudges On
Francis Sardauna writes that despite criticisms from disparagers apparently aimed at turning Katsina State into an amphitheater of political skirmishes, Governor Aminu Bello Masari is executing developmental projects in the state As the battle for who become the next governor of Katsina State commences, Governor Aminu Bello Masari is getting flaks from those who would […]
JUSUN Strike: Lagos State Judiciary Enjoys 100% Financial Autonomy, CJ
The Chief Judge of Lagos State, Hon. Justice Kazeem Alogba, has said Lagos Judiciary has been enjoying the total compliance of Financial Autonomy on recurrent expenditures 100%, and on Capital Expenditure from the State Government. Justice Alogba also stated that the State Government has been in 75% compliance of JUSUN’s other demand, adding that, though […]
FG Turned Down Govs’ Request to Borrow N50bn from CBN, Says Ahmed
Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, yesterday narrated how the federal government rejected a request by governors to borrow N50 billion from the Central Bank of Nigeria (CBN) to augment the revenue shortfall in March for distribution by the Federation Account Allocation Committee (FAAC). The minister, who featured on a National […]
Business News
Nigeria targets $504b goods in AFCFTA deals, says Emefiele
The full implementation of the the African Continental Free Trade Agreement (AFCFTA) will give Nigerian companies preferential access to African markets worth $504.17 billion in goods, the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele announced yesterday. Delivering his remarks at the Zenith Bank’s 2021 Export Seminar held virtually in Lagos, Emefiele said additional $162 […]
Ecobank Announces Reward Scheme’s Beneficiaries
The first set of beneficiaries in Ecobank Nigeria’s Super Reward scheme has emerged. In all, 50 customers would receive N25, 000 each. According to a statement, the four-month reward scheme which will run till July this year, was launched in March this year. “50 customers are expected to be rewarded with cash prizes worth N25, […]
Sovereign Trust Grows Profit By 37%
Sovereign Trust Insurance Plc said it achieved a growth of 37 per cent in its profit after tax for the year ended December 31, 2020. Precisely, the company said it grew its profit after tax from N503 million in 2019 to N687million in 2020. The gross premium written in 2020 stood at N11.1 billion compared […]
Unity Bank assets rise by 67.9% to N492.02bn
Unity Bank Plc said it grew its assets base by 67.9 per cent to N492.02bn as of the end of 2020 from the N293.05bn total assets value recorded in 2019. During a virtual event to disclose the bank’s audited results for full year ended 31 December 2020 released to the Nigerian Stock Exchange, it declared […]
Higher oil prices push up external reserves by $409m
The country’s external reserves returned to a growth path as it gained $409m in two weeks, latest figures from the Central Bank of Nigeria disclosed on Monday. According to the CBN’s figures on movement of reserves, the figure which stood at $34.845bn as of the end of April 1 rose to $35.254bn as of the […]
Starting 2021 Strong, UBA Records 27% PAT Growth, 20.5% ROAE
Pan African financial institution, United Bank for Africa (UBA) Plc has released its unaudited results for the first quarter ended March 31st, 2021, showing impressive double-digit growth across most of its major income lines. The bank leveraged on modest growth in both interest and non-interest income as well as increased efficiency to deliver an […]
Enyo Unveils 95th Filling Station
The Enyo Retail and Supply Limited has unveiled its 95th retail station to provide more access to customers for fuel purchase. The new station located in Badore, Ajah, Lagos State, is the company’s 40th retail station in the state and the 95th in the country. The automated facility has an in-built Enyo Vehicon with well-trained […]
Fuel subsidy rises to N500bn, NNPC rules out price hike
With the Federal Government leaving the pump price of Premium Motor Spirit (petrol) unchanged in the first five months of this year despite the increase in global oil prices, subsidy on the product is estimated to gulp N500bn in the period. The PUNCH had reported on January 11 that the sustained increase in global crude oil […]
FG generated N2.15tn from MDA operating surplus, says FRC
The Fiscal Responsibility Commission said it caused Ministries, Departments and Agencies to remit over N2.15tn into the Consolidated Revenue Fund of the Federal Government as operating surpluses over the past 11 years. FRC Chairman, Victor Muruako, said this on Monday during a courtesy visit to the Minister of Special Duties and Inter-Governmental Affairs, George Akume, […]
Oil firms borrowed N130bn from banks in February – CBN
Operators in the downstream, natural gas and crude oil refining sectors of the Nigerian oil and gas industry borrowed N130bn from Nigerian banks in February amid the significant rise in global crude oil prices. The debt owed by the oil and gas companies rose to N4.05tn in February from N3.92bn in January, according to the […]