The Federation Accounts Allocation Committee (FAAC), on Thursday during its Virtual Conference meeting disclosed that the three tiers of government shared the sum of N640.310 billion as federation allocations for the month of January, 2021. Out of the amount, inclusive cost of collection to NCS, DPR and FIRS, the Federal Government received N226.998 billion, the […]
The Senate has commenced legislative processes of plugging revenue wastages associated with foreign medical trips by Nigerians, particularly of top government functionaries, with the consideration of a bill sponsored for the purpose. The bill titled ‘Federal Medical Centres (Establishment) Bill, 2021’ was sponsored by Senator Aishatu Dahiru Ahmed. Leading debate on the bill, the sponsor […]
The Manufacturers Association of Nigeria (MAN) has described the rising general price level in the economy with the January 2021 inflation rate peaking at 16.47 percent as a threat to current efforts to revitalize the nation’s manufacturing and industrial sector and position it on the path of sustainable growth. The Director General of the association, […]
The Federal Airports Authority of Nigeria (FAAN) late Tuesday night announced the temporary closure of Runway 18R/36L at the Murtala Mohammed Airport, Lagos. A statement by the agency’s General Manager, Corporate Affairs, Mrs. Henrietta Yakubu, linked the closure “to a landing incident involving a Boeing 737 Azman Air aircraft with registration 5N SYS, and flight […]
Fidelity Bank Plc has issued a 10-year N41.21 billion fixed rate unsecured subordinated bond at 8.5 per cent coupon rate due by year 2031. A statement on the bond by the management indicated that the bank’s Chairman, Mr. Mustapha Chike-Obi, disclosed that the bond issuance was over-subscribed by investors, with total investor interest and commitments […]
The National Agency for Food and Drug Administration and Control (NAFDAC) at the weekend cautioned all clearing agents and importers circumventing guidelines on the importation of food and drugs through the nation’s ports to immediately desist or face the full weight of the law for such despicable economic sabotage acts. The Director General of NAFDAC, […]
The Lagos Chamber of Commerce and Industry (LCCI) has congratulated Dr (Mrs.) Ngozi Okonjo-Iweala, on her appointment as the Director General of the World Trade Organization (WTO), being the first female and first African to head the WTO since its formation in 1995. This is even as the OPS group noted that transforming her appointment […]
The Minister of State for Industry, Trade and Investment, Amb. Mariam Katagum, has said that the Steering and Programme Coordinating Committees of the Nigeria-United Nations Industrial Development Organisation (UNIDO) Country Programme (CP) 2018 – 2022, will move fast in ensuring timely and effective implementation of the programme. A statement issued by the ministry’s Assistant Director, […]
The African Energy Chamber’s Regulatory Affairs Committee has canvassed a three-point policy measure required for implementation by African governments to stimulate African energy sectors growth in spite of the COVID-19 pandemic ravages on various sectors of the continent’s economies. The recommendations derived from chamber’s Regulatory Committee’s first meeting of the year to discuss regulatory matters […]
The National Bureau of Statistics (NBS) reported on Tuesday that Nigeria’s inflation rate rose to 16.47% in January this year from 15.75% in December 2020, representing the highest rate in the past 33 months. The report published by the Bureau on its website indicated that food inflation rose to 20.57% in the month under review, […]