Business

The number of extremely poor Nigerians has risen to 91.6 million, according to the World Poverty Clock. This implies that virtually half of Nigeria’s population now lives in extreme poverty. The World Poverty Clock had named Nigeria the poverty capital of the world last June when it revealed that Nigeria had 87 million people living in poverty. The latest figure …

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…Borders On Huge Non-Performing loans, High Cost Of Funds …Exorbitant Administrative And High Emoluments To successive CEOs …Poor Corporate Governance Practices The Nigerian Deposit Insurance Corporation (NDIC), has debunked insinuations that the liquidation exercise carried out on Fortis Micro-Finance Bank Plc was done in bad fate. The NDIC said that the Micro-Finance Bank came specifically under the hammer when the …

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The concessionaire of the Warri Port Terminal B, Ocean and Cargo Terminal Services Limited, has taken possession of the terminal after the formal handing over by both the Nigerian Ports Authority (NPA) and Bureau of Public Enterprises (BPE). The handing over was done by the Managing Director, NPA, HajiaHadizaBala Usman, who was represented by the Executive Director, Marine and Operations, …

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United Bank for Africa (UBA) Plc has collaborated with Google and ISP partner to launch Google Station in 11 key UBA branches in Lagos State as part of plans to roll out 200 stations in the country. Google Station, a platform for providing free, high-speed Wi-Fi hotspots in public places, began in Lagos last year, and extended to Abuja in …

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The Code of Conduct Tribunal has ordered both the Inspector-General of Police and the Director-General of Police to arrest of the suspended Chief Justice of Nigeria, Justice Walter Onnoghen. Delivering a ruling of the three-man tribunal, the Chairman of the CCT, Danladi Umar, ordered the security agencies to produce Onnoghen at the tribunal on Friday. He dismissed the objection raised …

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The Independent National Electoral Commission (INEC) says any of the ten fingers — not only the index — can be used for marking the ballot papers when voting. The electoral body said it got wind of “false reports” that the only the index finger is approved for marking the ballot papers. It described the rumour as “false”, saying any of …

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The National Bureau of Statistics on Wednesday released the Capital Importation report for 2018 with the economy attracting a total investment of $16.81bn during the period. The bureau in the report stated that the investment inflow of $16.81bn for 2018 represents an increase of $4.59bn or 37.49 per cent when compared to the $12.22bn attracted in the 2017 fiscal period. …

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The Management of Eterna Plc has concluded plans to establish not less than 200 petrol stations in the next five years from the 35 it currently operates. Speaking in Lagos on Tuesday, Managing Director, Mahmud Tukur also declared that market forces should determine the pump price of petrol as subsidy payments currently borne by the government is not “sustainable”. According …

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An ambitious platform designed to bring together business leaders in Africa to collaborate with heads of government and other stakeholders to tackle basic health challenges in Africa has been launched in Addis Ababa, Ethiopia with assurances from government to collaborate for a healthier Africans. The platform, African Business Coalition for Health (ABC Health) was launched with commitments by all partners …

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Nigeria’s economy grew 1.9 per cent in 2018, the National Bureau of Statistics said on Tuesday, just days from an election in which the pace of growth is a campaign issue. The NBS said gross domestic product also rose by 2.38 per cent in the fourth quarter of 2018 compared to the same quarter in 2017. Growth accelerated from the …

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