Business

LAWMAKERS APPROVE PRESIDENT’S LOAN REQUEST TO REFINANCE EUROBOND

The Central Bank of Nigeria has increased the capital requirements for microfinance banks in the country in a bid to tackle the challenge of the inadequate capital base in the sub- sector. The apex bank announced the upward review of the minimum capital requirement in a circular dated October 22, 2018, to all microfinance banks […]


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EXPERTS LAMENT DETERIORATION IN NIGERIA’S DEBT SUSTAINABILITY MEASURES

Nigeria’s huge debt profile at 22.3 trillion naira is now assuming more disproportionate weight against the country’s growth and development, a situation that will likely dispose of the nation to perpetual borrowing. Financial experts, however, have said the only solution that is practical, with improved governance, is the urgent implementation of policies that will grow […]

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NNPC LEVERAGES RISING CRUDE OIL PRICE TO BOOST PROFIT

The Federal Government has increased the gas flare penalty from 10 naira per thousand standard cubic feet of gas to 612 naira eight per thousand standard cubic feet of gas. The increase is in the case of any firm that produces 10,000 barrels of oil or more, adding that for anyone producing less than 10,000 […]

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UNREST IN INDONESIA AMID DESPERATION FOR AID

Residents of Palu in Indonesia are growing increasingly desperate for aid after a quake and tsunami hit the town. Supplies of water, food and fuel are scarce and with roads damaged, it is proving hard to bring more in, or reach the more remote areas. It’s chaos now. Reports reveal that police authorities were firing […]

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NIGERIA’S EXTERNAL RESERVES DROP BY 1.5 BILLION DOLLARS

The Central Bank of Nigeria has said the nation’s foreign exchange reserves fell by 1.45 billion dollars last month. The external reserves, which stood at 45.8 billion dollars at the end of August, declined to 44.38 billion dollars on September 27, 2018. The apex bank noted that the evolution of the forex market in the […]

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AVIATION AGENCY ADVOCATES LOCAL AVIATION FUEL PRODUCTION

The Nigerian Airspace Management Agency has asked stakeholders in the oil and gas industry to begin local production of aviation fuel in line with the Nigerian content development initiative of the Federal Government. Managing Director of the Agency, Captain Fola Akinkuotu, who disclosed this added that due to the high cost of aviation fuel, it […]

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FEDERAL GOVERNMENT MOVES TO BROADEN APICULTURE SECTOR

The Federal Government has set machinery in motion for the development of the apiculture industry as part of its efforts to broaden the agricultural sector. Apiculture is the process and business of beekeeping. President Muhammadu Buhari who made this known in Abuja, noted that the government was building the capacities of bee-keepers and processors to […]

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FEDERAL GOVERNMENT TARGETS SIX BILLION NAIRA FROM CONCESSION OF TWENTY SILOS

The Federal Government is to get about 6 billion naira from the concession of 20 silos in different parts of the country to private sector operators. Minister of Agriculture and Rural Development, Audu Ogbeh, said in Abuja that the Federal Executive Council approved the plan at its meeting presided over by President Muhammadu Buhari yesterday. […]

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FEDERAL GOVERNMENT SEEKS ONE-YEAR EXTENSION OF WORLD BANK’S 160 MILLION DOLLAR JOB CREATION FUND

The Federal Government has sought for 12 months extension to allow it to fully implement the project known as Growth and Employment in States This follows its inability to disburse 160 million dollars in funding for job creation provided by the World Bank. The objective of the Growth and Employment project is to accelerate growth […]


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OYO GOVERNMENT TO COMMENCE STRICT ENFORCEMENT OF ENVIRONMENTAL SANITATION

The Oyo State Government has announced that it will commence total enforcement of its laws on environmental sanitation, street trading, illegal motors parks, land grabbing, urban and physical planning across the state, beginning from today, as it gears up to introduce the Ibadan City Master Plan. The state government said that beggars will also be […]

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