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Banks’ Deposits With CBN Hit N3.17tn In Nine Months

Banks’ Deposits With CBN Hit N3.17tn In Nine Months

The Central Bank of Nigeria has recorded N3.17tn deposits from 11 commercial banks in nine months. Data obtained from the financial statements of the commercial banks listed on the Nigerian Stock Exchange showed that the deposits were made between January ...

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Obaseki’s Agripreneur Scheme Excites Poultry Farmers

Obaseki’s Agripreneur Scheme Excites Poultry Farmers

Poultry farmers in Edo State have commended the Governor Godwin Obaseki-led administration and the Nigerian Incentive-Based Risk Sharing System for Agricultural Lending, on the success of the pilot phase of the state’s poultry production scheme. According to a statement by ...

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NCC, Infracos To Raise N265bn For Broadband Infrastructure

NCC, Infracos To Raise N265bn For Broadband Infrastructure

The Nigerian Communications Commission and a consortium of infrastructural companies say they will raise N265bn for the development of broadband infrastructures across the country in the next four years. Executive Vice Chairman of the NCC, Prof Umar Danbatta, who said ...

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Minimum Wage: TUC Gives States January 31 Ultimatum

Minimum Wage: TUC Gives States January 31 Ultimatum

The Trade Union Congress has given state governments that are yet to implement the N30, 000 new minimum wage up until January 31 to comply or risk industrial action from workers. The union gave the ultimatum in a communiqué issued ...

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Shippers’ Council Will Stop Container Deposit In 2020 – Bello

Shippers' Council Will Stop Container Deposit In 2020 – Bello

… insurance can play key role in road haulage, container return By Kenneth Jukpor Mr. Hassan Bello is the Executive Secretary/ Chief Executive Officer of Nigerian Shippers’ Council (NSC). In this exclusive interview with MMS Plus newspaper, he gave a thorough appraisal ...

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SAHCO MD Wins Leadership Award At 2019 LaPRIGA

SAHCO MD Wins Leadership Award At 2019 LaPRIGA

The Managing Director/CEO of the Skyway Aviation Handling Company PLC (SAHCO), Basil Agboarumi has bagged the Bob Ogbuagu Leadership Award at the 2019 Lagos PR Industry Gala and Awards (LaPRIGA) organized by the Lagos State chapter of the  Nigerian Institute of ...

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Eleganza Boss, Aare Rasak Okoya Marks 80th Birthday

Eleganza Boss, Aare Rasak Okoya Marks 80th Birthday

Nigeria’s foremost industrialist; Aare Rasak Akanni Okoya; the founder of Eleganza Group will clock 80 years on Sunday, the 12th of January, 2020. The indefatigable businessman who started trading at a very tender age before venturing into manufacturing will be ...

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SIFAX Group To Proffer Export Support To Nigerian Farmers

SIFAX Group To Proffer Export Support To Nigerian Farmers

SIFAX Group, a group of companies with investment in Maritime, Aviation, Oil & Gas, Haulage & Logistics, Financial Services and Hospitality, has assured Nigerian farmers willing to export their agricultural produce of its readiness to support them. This pledge was ...

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Market indices soar higher with N1.377 trillion on BUA listing, others

Market indices soar higher with N1.377 trillion on BUA listing, others

Market capitalisation of the Nigerian Stock Exchange (NSE), soared significantly by N1.377trillion, as the total equities capitalisation rose to N15.164 trillion, following yesterday’s listing of BUA Cement Plc’s on the floor of the Exchange. The upturn was also impacted by ...

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OPEC to maintain quota as oil prices return to $65 per barrel

OPEC to maintain quota as oil prices return to $65 per barrel

The Organisation of the Petroleum Exporting Countries (OPEC), trimmed its crude oil production by 100,000 barrels daily (b/d) in December, the latest S&P Global Platts survey finds, putting the bloc under its new, more-stringent quotas a month early. OPEC pumped ...

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African cargo traffic records 19.8 per cent growth amid global decline

African cargo traffic records 19.8 per cent growth amid global decline

Airlines on the African continent have recorded a 19.8 per cent growth rate in air freight amid a global decline in freight volumes. The International Air Transport Association’s (IATA), latest data for global air freight markets showed that demand, measured ...

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FG slashes Enugu airport repairs cost by N1.5bn

FG slashes Enugu airport repairs cost by N1.5bn

The House of Representatives on Thursday met with the contractor handling the rehabilitation of Akanu Ibiam International Airport, Enugu State, for a timely completion of the project valued at N10bn. It was disclosed at the meeting that the Federal Government ...

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Exporters shun Nigerian cashew nuts over alleged sharp practices

Exporters shun Nigerian cashew nuts over alleged sharp practices

•As Vietnam reject 37,000mt of the produceInternational buyers of cashew nuts may have shunned the Nigerian market, following sharp practices by the middlemen and untamed traffic gridlock at the Apapa ports. This is against the backdrop of about 68,000metric tonnes ...

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World Bank puts Nigeria’s growth at 2.1 per cent in 2020

World Bank puts Nigeria’s growth at 2.1 per cent in 2020

Warns of policy uncertainty, confidence challenges The World Bank Group, yesterday, raised Nigeria’s growth expectations in 2020 to 2.1 per cent, describing it as an “edge up”, a development that confirms the country’s continued stay in sluggish economic path for ...

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Oil marketers want petrol exempted from PoS charge

Oil marketers want petrol exempted from PoS charge

Oil marketers under the aegis of the Major Marketers Association of Nigeria have said it will be unfair for petrol dealers to be asked to pay N50 for transactions done on Point-of-Sale machines. The Chief Executive Officer and Executive Secretary, ...

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Nigeria’s oil sector faces slowdown amid looming divestment

Nigeria’s oil sector faces slowdown amid looming divestment

The nation’s oil and gas sector may not get a much-needed revamp this year as a number of international oil companies operating in the country look set to divest more assets amid a lack of reforms. S&P Global Platts reported that ...

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Buhari, Sylva, NNPC boss meet over Middle East tension

Buhari, Sylva, NNPC boss meet over Middle East tension

The President, Major General Muhammadu Buhari (retd.), and the Minister of State, Petroleum Resources, Mr Timipre Sylva, went into a crucial meeting on Wednesday amid the escalating United States of America/Iran tensions and the impact on global oil prices. Nigeria’s ...

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11 new pipelines expected in Nigeria by 2023

11 new pipelines expected in Nigeria by 2023

Eleven new pipelines are expected to come on stream in Nigeria by 2023, GlobalData has said. According to the data and analytics company, Nigeria is expected to contribute around 35 per cent of Africa’s total planned and announced oil and ...

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Oil companies making profits, host communities suffering – Presidency

Oil companies making profits, host communities suffering – Presidency

International oil companies operating in Nigeria are making profits while most of the communities hosting them are being impoverished, the Presidency has declared. In his goodwill message at the 4th National Council on Hydrocarbons held in Abuja, the Senior Special ...

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NAICOM to drive full digitisation of operations in 2020

NAICOM to drive full digitisation of operations in 2020

•Plans to introduce agric index insurance The National Insurance Commission (NAICOM) has said it is pursuing full digitisation of operations in year 2020 to improve service to the public, adding that it is in line with global standards and practices.NAICOM’s ...

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