The Managing Director of the Petroleum Products Marketing Company Limited, (PPMC), Umar Ajiya, disclosed that the company had returned to profitability with a trading surplus of N32 billion between January and November 2018. This is even as he disclosed that the company, through the implementation of the Nigerian National Petroleum Corporation’s (NNPC’s) zero-scarcity strategy, had […]
FSDH Merchant Bank has projected inflation rate of 13 percent for 2019 fiscal year citing implementation of the new minimum wage, upward review of electricity tariff and likely removal of fuel subsidy as factors that will drive up prices next year. The Head of Research, FSDH Merchant Bank, Ayo Akinwunmi, had during the media briefing […]
MTN Nigeria has asked the Federal High Court in Lagos to further adjourn the hearing in the suit to enable it enter into negotiations with the Central Bank of Nigeria (CBN) over the $8.1 billion fine imposed on it for alleged monetary policy regulatory infractions. The telecom operator’s lead counsel, Chief Wole Olanipekun (SAN), told […]
The Minister of Justice and Attorney General of the Federation (AGF), Abubakar Malami, on Wednesday disclosed that the Federal Government was targeting to rake in about N900 billion from offshore assets. The earnings would be through the Voluntary Offshore Assets Regularisation Scheme (VOARS) as part of its drives to grow the nation’s tax revenue base […]
The Federal Government has taken its social intervention campaign under the ‘Trader Moni’ scheme to Jigawa State with the initial sum of N300 million ready for disbursement to thousands of traders in the state. Altogether, a total of N1.5 billion has been earmarked for on- lending through Unity Bank to about 35,000 Jigawa petty traders […]
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has charged foreign investors to consider Nigeria as their investment destination in view of its promising returns. Baru, who made the appeal at the 10th World Energy Capital Assembly in London, United Kingdom, described Nigeria as one of the best investment destinations […]
The Executive Vice- Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, has disclosed the suspension of the allocation by the commission of frequency spectrums that are likely to be approved by the International Telecommunications Union (ITU) for 5G network services. Danbatta, who gave this hint on Tuesday at a Stakeholders Consultative Forum in […]
Operating businesses in the country have projected a rise in inflation and borrowing rates this month and also a growth in confidence in macro economy as the fiscal year gradually inches to an end. The views of the enterprises were captured in the Central Bank of Nigeria’s (CBN’s) ‘Business Expectation Survey’ report for November 2018, […]
Apparently convinced about the inability of the contractor handling the Lagos-Ibadan railway project to meet the December 2018 target earlier set for its completion, the Minister of Transportation, Mr Rotimi Amaechi, on Tuesday ordered the company – Chinese Civil Engineering Company (CCECC) – to ensure that the train becomes operational before the presidential election scheduled […]
President Muhammadu Buhari on Tuesday urged all Auditors-General to support the Federal Government’s fight against corruption in the country to improve the country’s public finance efficiency and facilitate broad-based national development. The President, who gave the charge at the 2018 Conference of Auditors-General in Nigeria in Abuja, said that tremendous achievements had been recorded in […]