Sunday, December 22

Business

ACCI, Stakeholders Decry Exports Bottlenecks, Call for “state of emergency”
9Jul By Dayo OmoogunNo Comments
Business

ACCI, Stakeholders Decry Exports Bottlenecks, Call for “state of emergency”

The President, Abuja Chamber of Commerce and Industry (ACCI), Dr Al-Mujtaba Abubakar and stakeholders in the export business have called for a declaration of a state of emergency to remove bottlenecks in the processing of non-oil exports in Nigeria.Non-oil exporters in Nigeria raised the alarm over serious constraints facing them in the export business, describing the situation as constituting threats to the government’s efforts to increase non-oil revenue earnings.Speaking variously at the unveiling of study report on the operation of dry ports in Nigeria organized by the Abuja chamber of commerce and industry, the stakeholders cited multi-billion naira loss being experienced by exporters due to delay at the port, multiplicity of agencies, poor infrastructure and bureaucratic challenges ...
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NNPC to Acquire Equity in Dangote Refinery, 5 Others
1Jun By Dayo OmoogunNo Comments
Business

NNPC to Acquire Equity in Dangote Refinery, 5 Others

Nigeria's national oil company,the Nigerian National Petroleum Corporation (NNPC) is currently considering equity participation in a number of private refineries in the country.This is in keeping  in line with a Federal Government policy directive which stipulates the mandatory participation of the Corporation in any privately-owned refinery that exceeds 50,000 barrels per day capacity in keeping with its statutory role of safeguarding national energy security. The Corporation says five out of the six  refineries identified so far for the implementation of the policy, are at the development stage with  Dangote Refinery being the largest of them. A press release by the Corporation’s spokesperson, Dr. Kennie Obateru, explained that NNPC a the National Oil Company of Nigeria primarily has...
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FG Dispels Price Increase Speculations
22May By Dayo OmoogunNo Comments
Business, Recent Stories

FG Dispels Price Increase Speculations

Following the news making the rounds that the Nigerian Governors Forum had recommended a new price regime of N385 naira only which has been agitating the minds of most Nigerians, the Federal Government has again cleared the air , insisting that there is no plan by the government to increase petrol pump price.The clarification was made Friday by the Minister of State, Petroleum Resources, Chief Timipre Sylva who also urged members of the public to refrain from panic buying. "Once again, it has become necessary to assure Nigerians that despite the huge burden of under-recovery, the Federal Government is not in a hurry to increase the price of Premium Motor Spirit (petrol) to reflect current market realities", the Minister stated. "The current price of petrol will be retained in the mo...
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CBN Agric Interventions: Emefiele Rebuts Claims of Favouritism
19May By Dayo OmoogunNo Comments
Business

CBN Agric Interventions: Emefiele Rebuts Claims of Favouritism

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has rebutted claims in certain quarters suggesting that the Bank’s targeted interventions in the agricultural sector are tilted in favour of a certain section of the country. He was speaking on Tuesday May 18, 2021 in Ado-Ekiti, Ekiti State while unveiling the 2020 wet season harvest aggregation and flag-off of the 2021 wet season input distribution in the South-West geo-political zone under the CBN-RIFAN Anchor Borrowers’ Programme. According to him, the claim is unfair as the Bank’s interventions in the Anchor Borrowers’ Programme (ABP) were not only about rice production but had expanded to over 21 crops and were evenly spread across the country. He added that more than N300 billion had been disbursed to c...
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Finance Minister Commends Nigeria Export-Import Bank
4May By Dayo OmoogunNo Comments
Business, News

Finance Minister Commends Nigeria Export-Import Bank

The Abba Bello –led Management of Nigeria Export-Import Bank (NEXIM), has been commended by the Minister of Finance, Budget and National Planning, Zainab Shamsuna Ahmed, for returning the bank to profitability and reduction in its stock of non-performing loans. The Minister gave the commendation while inaugurating two newly appointed Non - Executive Directors- Mallam Kabiru Hassan and Ede Dafinone- into the Board of the Bank, in her office. She also noted that the bank’s return to profitability and reduction in her non - performing loans had impacted positively on the bank’s statutory mandate adding that she was delighted with the bank’s Intra – African Trade Initiatives in readiness of the African Continental Free Trade Agreement (ACFTA). Mrs. Ahmed commended the President for f...
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Niger State Gov Sani Bello Confirms Presence of Boko Haram, Hoisting of Flag in State
27Apr By Dayo OmoogunNo Comments
Business

Niger State Gov Sani Bello Confirms Presence of Boko Haram, Hoisting of Flag in State

The Niger State Governor Sani Bello has on Monday confirmed that Boko haram terrorists are now present in the state in Kaure and Shiroro Local Government Areas of the State in particular. He also confirmed that the sect’s flag is hoisted in Kaure.Governor Abubakar Sani Bello was speaking while on a visit to over 3000 Internally Displaced Persons (IDPs) from Shiroro and Munya local government areas who are currently taking refuge in Ibrahim Badamasi Babangida (IBB) Primary School Minna."I am confirming that there are Boko Haram elements in Niger state, around Kaure. "I just heard that they've already hoist their flag in Kaure, which means they've taken over the territory and this is what I have been engaging the federal government with and unfortunately it has now gotten to this stage t...
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APC, Leaders’ Conspiratorial Silence on Pantami Indicates Support for Terrorism, Says PDP
27Apr By Dayo OmoogunNo Comments
Business, News, Politics

APC, Leaders’ Conspiratorial Silence on Pantami Indicates Support for Terrorism, Says PDP

The Peoples’ Democratic Party (PDP) has accused the All Progressives Congress (APC) and its leaders of a conspiratorial silence in the face of the worrisome revelation in which a member of the Federal Executive Council (FEC) and Minister of Communications and Digital Economy, Isa Ali Pantami, has been accused of affiliation with terrorist groups. (more…)
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Statement in Defence of Pantami Confirms Presidency’s Sympathy for Terrorism–PDP
27Apr By Dayo OmoogunNo Comments
Business, Politics

Statement in Defence of Pantami Confirms Presidency’s Sympathy for Terrorism–PDP

The Peoples Democratic Party (PDP) has called out the Federal Government saying the statement by the Buhari Presidency, in which it showed a desperation to provide official cover to a terrorism apologist further confirms public and international apprehensions that the Buhari administration and the All Progressives Congress (APC) are patronizing acts of terrorism in our country. (more…)
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Emefiele Challenges Nigerians to Take Advantage of Huge African Market Potential
24Apr By Dayo OmoogunNo Comments
Business

Emefiele Challenges Nigerians to Take Advantage of Huge African Market Potential

The Governor of the Central Bank of Nigeria Mr. Godwin Emefiele has challenged Nigerian manufacturers and businessmen to position themselves for greater participation in African trade by exploiting opportunities being put in place by the Bank in conjunction with other stakeholders.According to him, one of the bank’s efforts is its partnership with the AFREXIM Bank to improve existing payment system infrastructure, the Pan Africa Payment and Settlement System (PAPSS) so as to enable greater intra-regional trade.“Supporting greater trade within Africa would also require the presence of a viable payment settlement system, he said.He was speaking at the 2021 Export Seminar organized by Zenith Bank Plc. which held in Lagos earlier in the“In this regard, the CBN is working with key stakeholders...
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NNPC Signs $1.5bn Contract for Rehabilitation of PH Refinery
7Apr By Dayo OmoogunNo Comments
Business, News

NNPC Signs $1.5bn Contract for Rehabilitation of PH Refinery

…To Award Warri, Kaduna Refineries Rehab EPC in June The drive by the Management of the Nigerian National Petroleum Corporation (NNPC) to boost in-country refining capacity was bolstered on Tuesday with the signing of the Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) contract for the rehabilitation of the 210,000 barrels per day capacity Port Harcourt Refinery in Alesa-Eleme, Rivers State. (more…)
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ICAN 50th Lecture: Minister, Former CBN Gov, FIRS, Flutterwave Boss to Brainstorm on 4thIR
26Mar By Dele OgbodoNo Comments
Business

ICAN 50th Lecture: Minister, Former CBN Gov, FIRS, Flutterwave Boss to Brainstorm on 4thIR

The Minister of Communications and Digital Economy, Dr. Ibrahim Pantami, the former Governor of Central Bank of Nigeria (CBN), Alhaji Sanusi Lamido Sanusi, the Chairman of the Federal Inland Revenue Service (FIRS), Mr. Mohammed Lami, Flutterwave boss, Olugbenga Agboola, the President of the International Federation of Accountants (IFAC), Mr. Allan Johnson and other eminent personalities will speak at the 50th Annual Conference of the Institute of Chartered Accountants of Nigeria (ICAN). (more…)
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