ECONOMY

NACIMMA to Hold Dialogue on Shipping Gridlock, June 2014

  The national president of Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Alhaji Mohammed Badaru Abubakar, has recently stated that the association will be holding a national dialogue session for a day purposed to address the

Pension Contributory Asset Hits N4.3 Trillion

Nigeria’s contributory pension asset hits a whooping N4.3 trillion, the Pension Operators Association of Nigeria, PenOp said on Tuesday. The asset belongs to about six million workers in various ministries, departments and agencies, MDAs. The National Chairman of the group,

Nigerian Electricity Regulatory Commission Fix New Electricity Tariff for N750

    The Nigerian Electricity Regulatory Commission has announced a N750 fixed charge. NERC Chairman, Dr. Sam Amadi, announced in Abuja that the new tariff would take effect from June 1 as provided for in the Multi-Year Tariff Order. He

Honeywell Group and USTDA Sign Grant Agreement to Aid N31 Billion Sagamu Power Plant Project

  Honeywell Group and United States Trade Development Agency (USTDA) have signed a Grant Agreement for a feasibility study. This will be in order to facilitate the completion of its proposed N31 billion Sagamu Independent Power Plant Project. The grant,

A Tale of Two Lagos Residents

    By Toks Ero For close observers of Lagos, Lagos has grown beyond what it used be in the 50’s, 60’s, 70’s 80’s, 90’s or even from the year 2000; not only in terms of population but in land

Nigerian Oil and Gas Sector Attracts N52.921 Billion in Past 15 Months

  It has been reported that the Nigerian oil and gas sector has attracted foreign investments totalling N52.921 billion in the last 15 months, according to data gathered and a report released by the National Bureau of Statistics titled: “Nigerian

NGO Claims World Economic Forum for Africa, WEFA, Attract $68 Billion Investments in Nigeria

An Abuja-based non-governmental organisation, Freedom Organisation of Nigeria, FON, yesterday, Monday, May 19, 2014, revealed that the just concluded World Economic Forum for Africa, WEFA, had attracted over $68 billion investments in Nigeria. Frank Ohwofa, the Chairman of the non-governmental

Federal Government to Provide Telecoms Company With N1.5 Billion Bond for Broadband

The Federal Government has revealed it will provide a subsidy to telecommunications operators to enable them to roll out 20,000km of optic-fibre cable in certain areas of the country between 2014 and 2015. The Minister of Communication Technology, Mrs. Omobola

Former UBA Capital CEO, Rasheed Olaoluwa Appointed CEO of Bank of Industry

  The former Group Chief Executive Officer of UBA Capital Plc, Rasheed Olaoluwa, has been appointed the new CEO of Nigeria’s Bank of Industry, BoI. Olaoluwa’s appointment came following the retirement of Dr. Evelyn Oputu, who retired as CEO of

NCAA Raises Airworthiness Benchmark

The Nigerian Civil Aviation Authority has raised the benchmark for the airworthiness of all flying aircraft in the country. Subsequently, any commercial aircraft which government officials do not authorize due to safety issues, cannot carry passengers of any category. The

F.G to Invest N1.3 Trillion in Gas to Develop Electricity Supply

  The Nigerian government has revealed that it will invest $8 billion (N1.3 trillion) in the development of the nation’s local gas potential to boost electricity supply across the country. This was made known by Vice President Namadi Sambo, when

Aliko Dangote to invest $2.3 Billion in Rice and Sugar Production in Nigeria’s Northern Region

Nigeria and Africa’s richest man, Aliko Dangote, have announced plans to invest $2.3 billion in rice and sugar production in Nigeria’s northern region in a bid to combat poverty and insurgency. Dangote, who was speaking during a plenary session at

FG, USAID Plan to Reduce Cost of Business in Nigeria

  The Federal Government is developing a road network as part of new package that will reduce the cost of business in the country by decreasing transportation costs. The pilot road project, which will connect Lagos to the North

Nigeria, South Africa, Egypt Account For Half of Africa’s Economy, World Bank

  According to new data released by the World Bank Group last week, Nigeria, South Africa and Egypt account for about half of the African economy. The report said that low income economies, as a share of world GDP,

SMEs in Developing World Need N320trn Investment, IFC

  THE International Finance Corporation (IFC), the private sector arm of the World Bank Group has estimated the financial needs of small and medium scale enterprises in Africa and other developing countries at more than $2 trillion (about N320 trillion).

2014 Africa Progress Report – Grain, Fish, Money, to be Released In Abuja

On Thursday, May 8th 2014, the Africa Progress Panel will release its annual Africa Progress Report – Grain, Fish, Money – Financing Africa’s Green and Blue revolutions, at the World Economic Forum on Africa held in Abuja, Nigeria. Chaired

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