Nigeria Today: Top 10 News Stories You Shouldn’t Miss

1. The federal government has approved a new funding mechanism that will ensure that cotton, textile and garment companies access long-term, low interest loans to finance their operations. This is part of the new National Cotton, Textile and Garment (CTG) policy aimed at revitalising and boosting the growth and development of the cotton, textile and garment industry. 2. Online money transfer service, WorldRemit and telecoms operator, MTN have signed a global partnership that will enable WorldRemit customers to send remittances instantly to MTN’s Mobile Money customers across the world. 3. The recent executive order signed by Babatunde Fashola, governor of Lagos State, cutting down land tax charges  by 10 percent, promises to grow investment and increase the state’s revenue from real estate transactions and development significantly, analysts say. 4. Nigerian operators in the capital market have resolved to bring the over N2 trillion real estate sector assets in the country to the capital market. 5. To further drive the growth of software development in Nigeria, the Federal Government, through the Ministry of Communications Technology has raised a venture capital fund of about $16.2 million (N2.71 billion) to be disbursed to any qualified start-ups with innovative ideas within and outside the Information and Communications Technology (ICT) sector. 6. The National Insurance Commission, NAICOM, has inaugurated fourteen insurance companies to operate the Technical Management Board of the Energy and Allied Risks Insurance Pool of Nigeria (EAIPN). 7. The Federal Government on Tuesday in Abuja inaugurated the National Cotton, Textile and Garment Policy with a target to achieve $3bn (N504bn) annually from textile exports. The policy is also expected to raise seed cotton production from 200,000 metric tonnes in 2003 to about 500,000 MT by the end of this year. 8.The Managing Director and Chief Executive Officer, Honeywell Flour Mills,  Mr. Olarewaju Jaiyeola has said  the company is ready to integrate the 10 per cent high  cassava yield flour  in its production process  in order to key into the Federal Government’s policy on cassava bread. 9. A student from the Polytechnic of Ibadan, Gbemisola Abiola, has emerged winner of the fourth edition of the Annual Consolidated Hallmark  Insurance (CHI) Essay Competition. Its Managing Director, Eddie Efekoha said by emerging winner, Abiola gets automatic employment with the company aside from N250, 000 cash prize. 10. The number of retirees who chose Programmed Withdrawal plan option for pension payments after retirement under the management of Pension Fund Admistrators (PFAs),  has continued to grow as total lump sum on Programmed Withdrawal has increased to N228.09 billion from inception of the scheme to the end of the second quarter, last year, Director-General, National Pension Commission (PenCom), Chinelo Anohu-Amazu, has said.  

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This article was first published on 21st January 2015

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