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Author Archives: mms plus

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Adesina: High Taxes Stunting the Growth of African Airlines

AfDB cancels $400m loan to Nigeria

The President of African Development Bank (AfDB), Dr Akinwumi Adesina has said that high taxes imposed on airlines by government agencies was a major challenge dwarfing the growth and development of air transport in Africa. This according to him, explains ...

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Awosika Urges Caution on Crypto-currencies

Awosika Urges Caution on Crypto-currencies

The Chairman of FirstBank Nigeria Limited, Mrs. Ibunkun Awosika has advised banks not to invest in crypto-currencies yet. She stressed the need for regulators in the country to develop the regulatory framework for investing in such digital currencies. According to ...

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Buhari Appoints 30-Member National Minimum Wage C’ttee

Buhari Appoints 30-Member National Minimum Wage C’ttee

 Ama Pepple, Ngige to spearhead panel President Muhammadu Buhari has approved the appointment of a 30-member tripartite National Minimum Wage Committee to negotiate a new national minimum wage for the country. The Deputy Director, of Press in the Ministry of ...

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FG Identifies 500 Tax Dodgers with Homes Abroad

FG Identifies 500 Tax Dodgers with Homes Abroad

The federal government has compiled the list of 500 Nigerians, some of them prominent citizens who have homes abroad and who have been tax dodgers. Minister of Finance, Mrs. Kemi Adeosun, informed the National Economic Council (NEC) yesterday that the ...

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Dangote Cement Inaugurates Congo Plant, Stirs Industrial Revolution in Africa

Dangote Cement Inaugurates Congo Plant, Stirs Industrial Revolution in Africa

Dangote Cement Plc thursday added a fillip to its ongoing efforts at economic emancipation of Africa as it formally opened its 1.5mtpa capacity cement plant in Mfila, Congo, amid ecstasy by the government and the people of the country. The ...

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FG Approves N28.8bn Budget Support Loan Facility for States

FG Approves N28.8bn Budget Support Loan Facility for States

NEC okays replacement of card readers with solar-powered devices The federal government has approved the disbursement of N28.8 billion as budget support loan facility to the 36 states of the federation. According to a report presented thursday to the National ...

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Gridlock: Lagos Begins Evacuation of Articulated Vehicles on Apapa- Oshodi Expressway

Gridlock: Lagos Begins Evacuation of Articulated Vehicles on Apapa- Oshodi Expressway

In its determination to ensure free flow of traffic and safety on the road, the Lagos State Government yesterday commenced the process of clearing Apapa-Mile 2 axis of illegal parking of tankers and articulated vehicles. This action, the government said ...

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Nigeria Loses $9bn to Illegal Mining in Two Years

Nigeria Loses $9bn to Illegal Mining in Two Years

FEC approves N987m for purchase of 50 vehicles to curb menace Nigeria lost a whopping $9 billion to the export of proceeds of illegal mining activities between 2014 and 2015, the federal government disclosed yesterday. Making this disclosure at the ...

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AfDB Portfolio in Nigeria over $6bn, Says Adesina

AfDB Portfolio in Nigeria over $6bn, Says Adesina

The President of African Development Bank (AfDB), Dr. Adewumi Adesina, has said the bank’s total active portfolio in Nigeria is over $6 billion. Adesina said this in an interview with the News Agency of Nigeria (NAN) yesterday in Abuja. “The ...

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NNPC Secures $3.7bn Alternative Financing in Three Years

NNPC Secures $3.7bn Alternative Financing in Three Years

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has said the corporation has secured a total of $3.7 billion in Alternative Financing Agreement in the last three years. Speaking yesterday in Lagos at the ...

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Address Fiscal Challenges, Despite GDP Growth, World Bank Tells Nigeria

Address Fiscal Challenges, Despite GDP Growth, World Bank Tells Nigeria

The World Bank has stated that notwithstanding Nigeria’s positive economic growth in the third quarter (Q3) of 2017, the country needs to address what it identified as the many fiscal challenges at the different levels of government. The World Bank’s ...

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NERC Moves to Protect Power Market, Rejects Force Majeure by Discos

NERC Moves to Protect Power Market, Rejects Force Majeure by Discos

 Extends SPDC’s operative licence for Afam plant by 10 years The Nigerian Electricity Regulatory Commission (NERC) tuesday disclosed that it had initiated immediate regulatory measures to protect Nigeria’s electricity market from potential collapse on the back of the force majeure ...

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Aviation Unions Ground Dana Operations

Dana Air Celebrates 9th Anniversary

The National Association of Aircraft Pilots and Engineers (NAAPE) tuesday grounded the operations of Dana Air Limited over the management’s refusal to allow technical personnel, including engineers and pilots, to join unions. The unions picketed the airline’s operations at the ...

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House Probes Sale of PHCN Non-core Assets, Maintenance on Refineries

House Probes Sale of PHCN Non-core Assets, Maintenance on Refineries

The House of Representatives tuesday passed a resolution mandating its Committees on Power and the Bureau of Public Procurement (BPP) to investigate allegations of fraudulent sale of non-core assets and scraps of the Power Holding Company of Nigeria (PHCN) and ...

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Kachikwu: Involving Communities in Oil Activities, Solution to End Crisis in Niger Delta

Kachikwu: Involving Communities in Oil Activities, Solution to End Crisis in Niger Delta

Emmanuel urges council on hydrocarbons to address crisis in oil industry Ayade wants FG to extend search for oil to Cross River The Minister of State, Petroleum Resources, Dr. Emmanuel Ibe Kachukwu, has said for a lasting peace to be ...

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Nigeria, US Collaborate to Promote Govt, Private Sector Partnership

Nigeria, US Collaborate to Promote Govt, Private Sector Partnership

Nigeria and the United States of America are collaborating to forge a closer partnership between the government and the private sector. The Executive Secretary of the Nigeria Investment Promotion Council (NIPC), Ms. Yewande Sadiku, said building a relationship and collaborating ...

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Arms Smuggling: Customs Accuse Shipping Lines Of Connivance

Arms Smuggling: Customs Accuse Shipping Lines Of Connivance

By Kenneth Jukpor Following the influx of arms into the country from Turkey which has seen 2671 pump-action rifles intercepted in 2017 alone, the Comptroller General of Nigeria Customs Service (NCS) Col. Hameed Ali (Rtd) has accused shipping lines of ...

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FG to Complete Four NIPP Power Stations by End of 2018

FG to Complete Four NIPP Power Stations by End of 2018

. Resumes talks with bidders on sale of three plants The remaining four power stations being built under the National Integrated Power Project (NIPP) will be completed by the end of 2018, a source at the Niger Delta Power Holding ...

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Lagos Oilfield Partners in Talks to Resolve Legal Dispute

A Norwegian independent exploration and production company and one of the partners in Aje oilfield located in Oil Mining Lease (OML) 113, Panoro Energy, has stated that the partners in the Lagos oilfield had commenced negotiations to resolve their legal ...

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FG Steps up Efforts to Repatriate $321m from Switzerland

FG Steps up Efforts to Repatriate $321m from Switzerland

The federal government has stepped up efforts aimed at repatriating $321 million looted funds from Switzerland before the end of the year. The announcement was made on Monady by the Senior Special Assistant to President Muhammadu Buhari on Justice Reforms, ...

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