FG Appoints 22 Firms To Distribute Meters In Nigeria

Considering the good success that Power Generation has recorded in the recent time as well as the trememdous efforts that have been injected into the transmission of power generated, there seems to be a major problem in Nigeria energy value chain yet and that is the weakest link; it is…

Debts: IMF Doubts Nigeria’s Capacity For Repayment

The International Monetary Fund on Monday expressed concern over Nigeria’s capacity to repay its debts and stressed the need for the Federal Government to mobilise more revenues domestically. The Washington-based fund, at the public presentation of the Spring 2018 Issue of the Regional Economic Outlook for Sub-Saharan Africa, said the…

American Company To Invest $10B In Rail System In Nigeria

The dream of the present administration to build again our decaying infranstructures seems to be gathering momentum with the positive news coming from investors who have now seen Nigeria as a destination for Foreign Direct Investments (FDIs). Shah Mathias, the Founder of Ameri Metro Inc, based in the United States,…

#20B Unpaid Debt: AMCON Takes Over Stella Oduahs’ Assets

The Asset Management Corporation of Nigeria (AMCON) has taken over Sea Petroleum Oil & Gas Ltd. and other assets belonging to Senator Stella Oduah over an unpaid debt of about N20 billion. AMCON said the takeover followed an injunction granted by Justice M.S. Hassan of the Federal High Court, Lagos…

Senate Passes Historic Business Reform Bill

The 8th Senate led by Dr Abubakar Bukola Saraki on Tuesday passed a Bill to repeal and re-enact Companies and Allied Matters Act. The Bill comes 28 years after the passage of the original Companies and Allied Matters Act and will make Nigeria the best country in Africa to do…

Senate Passes 2018 Budget Today

The Nigerian Senate on Wednesday eventually passed the 2018 Appropriation Bill and would be forwarded to President Muhammadu Buhari for his assent. The 2018 budget is estimated to be N9.12 trillion. On Tuesday, report of the 2018 Appropriation Bill was laid before the Senate by Chairman of the Senate Committee…

Headline Inflation Drops To 12.48% In April 2018; 0.86% Lower Than March 2018

The Consumer Price Index (CPI) which measures inflation increased by 12.48 percent (year-on-year) in April 2018, this is 0.86 percent points less than the rate recorded in March 2018 (13.34) percent and represents the fifteenth consecutive disinflation since January 2017. Increases were recorded in all COICOP divisions that yield the…

N264BN Finished Goods Exported From Lekki Free Zone In Three Years – LASG

The Lagos State Government on Monday said over $735.8million (about N264billion) worth of finished goods have so far been exported from the Lekki Free Zone project in the last three years. Commissioner for Commerce and Cooperatives, Mrs Olayinka Oladunjoye who disclosed this at the annual Ministerial Press Briefing to mark…

Reject Dirty Naira Notes From The Bank- CBN Says

The Central bank of Nigeria has urged Nigerians of their right to demand new notes from banks and reject dirty notes as the CBN continues its efforts to rid the country of dirty currency. Isaac Okorafor, acting director, communications department of the of the CBN said this in a statement.…

Codeine Abuse: NAFDAC Shuts Down Emzor Pharmaceuticals, 2 Others

Nigeria’s drugs and narcotics control agency, the National Agency for Food and Drug Administration and Control (NAFDAC) Monday sealed off three major pharmaceutical companies – Emzor Pharmaceuticals Ind. Ltd., Peace Standard Pharmaceutical Limited and Bioraj Pharmaceutical Limited following their ties to the codeine abuse and epidemic presently ravaging youths mostly…