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BUSINESS

The World Bank has decried the continued spending by the Nigerian government on petrol subsidy, which it said is on track to gobble up N2.9tn this year.

The World Bank has decried the continued spending by the Nigerian government on petrol subsidy, which it said is on track to gobble up N2.9tn this year. Its Country Director for Nigeria, Shubham Chaudhuri, who spoke on Monday at a panel session during the 27th National Economic Summit, said the country could channel the money being spent on subsidies to primary healthcare, basic education and rural roads. Also speaking at […]

todayOctober 26, 2021 2

BUSINESS

The Federal Government has said it will send requests for proposals to qualified bidders for the concession of Nigeria’s four major international airports after assessing the requests for qualification.

The Federal Government has said it will send requests for proposals to qualified bidders for the concession of Nigeria’s four major international airports after assessing the requests for qualification. It also said the preceding stage – request for qualifications phase of the Nigeria Airport Concessions Programme – came to a close at 3:00pm on Monday. The October 25, 2021 deadline was announced by the Federal Ministry of Aviation on September […]

todayOctober 26, 2021 5

BUSINESS

The Nigerian Bulk Electricity Trading Plc on Thursday provided statistics on misalignments in the power value chain, saying that about 14,000 megawatts of electricity was contracted to power generation companies.

The Nigerian Bulk Electricity Trading Plc on Thursday provided statistics on misalignments in the power value chain, saying that about 14,000 megawatts of electricity was contracted to power generation companies. Managing Director, NBET, Nnaemeka Ewelukwa, gave a breakdown of the quantum of Nigeria’s electricity demand, what was contracted, available capacity, what was produced, among others. He provided these statistics while speaking during a plenary session at the World Energy Day […]

todayOctober 26, 2021 6

BUSINESS

The Nigerian Bulk Electricity Trading Plc on Thursday provided statistics on misalignments in the power value chain, saying that about 14,000 megawatts of electricity was contracted to power generation companies.

The Nigerian Bulk Electricity Trading Plc on Thursday provided statistics on misalignments in the power value chain, saying that about 14,000 megawatts of electricity was contracted to power generation companies. Managing Director, NBET, Nnaemeka Ewelukwa, gave a breakdown of the quantum of Nigeria’s electricity demand, what was contracted, available capacity, what was produced, among others. He provided these statistics while speaking during a plenary session at the World Energy Day […]

todayOctober 22, 2021 2

BUSINESS

Telecommunication service subscribers in 47 local government areas in Zamfara, Katsina, Sokoto and Kaduna states have been affected by the ban on telecom services in the areas by the Federal Government, findings have revealed.

Telecommunication service subscribers in 47 local government areas in Zamfara, Katsina, Sokoto and Kaduna states have been affected by the ban on telecom services in the areas by the Federal Government, findings have revealed. This is as bank customers and Point of Sale operators in the affected areas groan over lack of access to banking services as the ban continues in the four states. The Federal Government had imposed a […]

todayOctober 22, 2021 9

BUSINESS

The prices of soybean and maize – the basic grains in poultry production – have increased by about 300 per cent and 170 per cent respectively, warranting the collapse of many poultry farms across the country.

The prices of soybean and maize – the basic grains in poultry production – have increased by about 300 per cent and 170 per cent respectively, warranting the collapse of many poultry farms across the country. The Director-General, Poultry Association of Nigeria, Onallo Akpa, said these in an interview with reporters. Akpa said the worst hit farms were those operated by small scale poultry farmers, as most dealers in this […]

todayOctober 22, 2021 4

BUSINESS

The Federal Ministry of Sports and Youths Development on Wednesday said 10,000 out of the three million youths who applied for the Nigeria Youth Investment Fund have been shortlisted.

The Federal Ministry of Sports and Youths Development on Wednesday said 10,000 out of the three million youths who applied for the Nigeria Youth Investment Fund have been shortlisted. The Youth Development arm of the ministry said this in a statement it issued in Abuja on Wednesday. The statement added that the selected youths would be entitled to loans between N250,000 and N3m. It added that the Ministry of Youth […]

todayOctober 14, 2021 10

BUSINESS

The equities market of the Nigerian Exchange Limited upturned the previous day’s loss with a N95.34bn gain on Tuesday following renewed buying interest in 27 stocks.

The equities market of the Nigerian Exchange Limited upturned the previous day’s loss with a N95.34bn gain on Tuesday following renewed buying interest in 27 stocks. The NGX All-Share Index increased by 0.45 per cent to close at 40,896.96 basis points from 40,714bps on Monday, while the market capitalisation of stocks rose to N21.31tn from N21.22tn on Monday. The total volume and value traded appreciated by 194.75 per cent and […]

todayOctober 13, 2021 8

BUSINESS

The Senate on Tuesday commenced investigation into alleged illegal payment of N19bn to four federal agencies, by the Budget Office.

The Senate on Tuesday commenced investigation into alleged illegal payment of N19bn to four federal agencies, by the Budget Office. Officials of the Budget Office did not appear before the Senate Public Accounts Committee. SPAC, relying on the 2016 report of the Auditor General for the Federation, alleged that the N19bn was paid to four agencies through verbal directive by the Director General of the Budget Office in 2015. The […]

todayOctober 13, 2021 11

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