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SMEs to benefit as REA moves to implement AfDB funded off-grid project

SMEs to benefit as REA moves to implement AfDB funded off-grid project

The Rural Electrification Agency (REA) has said arrangements are being concluded for the implementation of component two; ‘Productive Use Appliances and Equipment in Off-Grid Communities of the African Development Bank (AfDB) financed Nigeria Electrification Project. Being implemented with collaboration with ...

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Despite NOCs’ budget cut, FG explores options for oil in North

Despite NOCs’ budget cut, FG explores options for oil in North

Though National oil companies (NOCs) across the world are estimated to cut exploration budgets by $5 billion to around $14 billion this year, the Federal Government has stated that the plan to explore prospects of hydrocarbon in the Northern region ...

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10 power plants idle, generation sinks to 2,627MW

10 power plants idle, generation sinks to 2,627MW

The number of the nation’s power plants sitting idle increased by three on Monday to 10, prompting generation to tumble below 3,000 megawatts. Total power generation in the country fell to 2,626.9MW as of 6am on Monday from 3,738MW the ...

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Nigeria’s GDP rose by 1.87% in Q1 – NBS

Nigeria’s GDP rose by 1.87% in Q1 – NBS

Nigeria’s Gross Domestic Product grew by 1.87 per cent (year-on-year) in real terms in the first quarter of 2020. The National Bureau of Statistics disclosed this in its ‘Nigeria’s Gross Domestic Product’ report for the first quarter of 2020 on ...

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Civil aviation authority, expert rally airlines to cargo operations

Addessing Flaws In Nigerian Aviation Laws

The Nigerian Civil Aviation Authority (NCAA), yesterday, reiterated that cargo operations hold the lifeline for the survival of local airlines amid the crippling coronavirus crisis. The Director-General of the apex regulatory body, Captain Musa Nuhu, said the current situation was ...

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Experts seek removal of VAT, withholding tax on dividend, others

Experts seek removal of VAT, withholding tax on dividend, others

To spur stock market rebound post-COVID-19, experts have called for the removal of Value Added Tax (VAT), and stamp duty on capital market transactions. Also, they urged regulators to review upward the current N5billion investors’ compensation claims in the Investor ...

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TUC urges federal government to reject loan from China

TUC urges federal government to reject loan from China

The Trade Union Congress of Nigeria (TUC), has cautioned the Federal Government against getting loans from China. The union maintained that Nigeria must be circumspect, even as it noted some African countries have rejected China’s loan offers because of the ...

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Petrol price may increase as Brent stabilises around $35/barrel

Petrol price may increase as Brent stabilises around $35/barrel

Brent, the oil against which Nigeria’s crude is priced, has hovered around $35 per barrel for about one week, raising concerns of a possible hike in petrol price in Nigeria any time soon. An analysis of global oil trading rates ...

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Fury wants to fight Ajagba before quitting boxing

Fury wants to fight Ajagba before quitting boxing

World Boxing Council (WBC) heavyweight champion, Tyson Fury has listed Nigeria’s Efe Ajagba as one of the boxers he wants to fight before retiring from the sport, reports bigfighweekend.com. Fury is set to battle with Deontay Wilder for the third ...

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NNPC says top fresh management appointments based on merit

NNPC launches App for COVID-19 contacts tracing, begins sale of products online

The Nigerian National Petroleum Corporation (NNPC) has said that professional competence, adherence to the principle of transparency and accountability informed the recent top management appointments executed in March. The Spokesman for the corporation, Dr. Kennie Obateru, disclosed this in a ...

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SSASCGOC Donates PPE Worth N5.5 Million To Members

SSASCGOC Donates PPE Worth N5.5 Million To Members

By Kenneth Jukpor Senior Staff Association of Statutory Corporations and Government Owned Companies (SSASCGOC), Maritime branch, has donated Personal Protective Equipment (PPE) worth N5.5 million to members. The General Secretary, SSASCGOC, Mr. Akinola Bodunde, disclosed this while distributing the materials ...

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Oil price rebound improves investors’ patronage, lifts index by 5.59%

Experts seek removal of VAT, withholding tax on dividend, others

• Analysts predict gloomy outlook,blame rising pandemic,weak economy The rebalancing in the oil market, which has resulted in a 94 per cent rebound in crude prices, added to enhanced institutional investors’ patronage in the Nigerian bourse buoyed equities transactions last ...

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Panic as Buhari probes Abba Kyari’s office, others

Buhari writes National Assembly, seeks $5.5bn fresh loan

Presidency aides silent amid intrigues A wave of apprehension is sweeping through Ministries, Departments and Agencies (MDAs) as President Muhammadu Buhari begins a probe into the office of the late Chief of Staff Abba Kyari. The investigation may lead to ...

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Less than 30% of fuel depots operating – DAPPMAN

Less than 30% of fuel depots operating – DAPPMAN

Most fuel depot operators have been forced out of business as the Nigerian National Petroleum Company emerged the sole supplier of imported fuel in recent years, the Depot and Petroleum Products Marketers Association of Nigeria has said. The Chairman, DAPPMAN ...

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Aviation workers seek four-month extension of agencies hqs relocation

Flights to resume June 21, govt orders 50% passenger reduction

Aviation workers have called for an extension of the duration given by the Federal Government to aviation agencies to relocate their headquarters from Lagos to Abuja. Last week, it was reported that the Federal Government ordered all aviation agencies to ...

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Oil, gas revenue dropped by N425.52bn in Q1 –Minister

Oil, gas revenue dropped by N425.52bn in Q1 –Minister

The country’s revenue from oil and gas dropped by N425.52bn in the first quarter of 2020 to N940.91bn, Minister of Finance, Budget and National Planning, Zainab Ahmed, said on Friday. She disclosed this in her presentation at the National Economic ...

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UK court dismisses Nigeria’s $1bn bribery suit against Shell, Eni

UK court dismisses Nigeria’s $1bn bribery suit against Shell, Eni

A court in the United Kingdom has dismissed a $1bn bribery suit instituted against oil giants – Royal Dutch Shell and Eni by – the Federal Government of Nigeria, Bloomberg reports. The judge, Christopher Butcher, delivered the ruling at a virtual hearing ...

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Lagos made more money than 26 states combined

Lagos made more money than 26 states combined

Lagos State has retained its place as Nigeria’s economic capital, generating N398.7bn in 2019 alone. The sum is the equivalent of the combined internally generated revenues by 26 states of the federation. The N398.7bn IGR of Lagos State is more ...

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I’m too busy to eye Anambra gov seat — Ngige

I’m too busy to eye Anambra gov seat — Ngige

The Minister of Labour and Employment, Dr Chris Ngige has said he is too busy serving the nation at the national level to consider a shot at the 2021 Anambra State governorship election. Ngige who spoke to reporters in his ...

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Maersk Line Uses Indian Office To Fleece Nigerian Shippers

Maersk Line Uses Indian Office To Fleece Nigerian Shippers

·   Workers get clearance from India for all decisions ·   CEMA is an outdated draconian law – Nweke, Nwadike By Kenneth Jukpor Despite the Federal Government’s campaign for enhanced ease of doing business at the ports, one of the foremost ...

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