Business

The Lagos State Government on Wednesday announced a ban on the operations of inter-state vehicles along Ikorodu Road, ordering operators to restrict their activities to Ojodu-Berger and Ojota Motor Parks. The government said this should be complied with in seven days,  after which stiff sanctions would be applied to defaulters. Speaking after embarking on a joint inspection tour of ongoing …

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The Joint Health Sector Unions (JOHESU) says it will begin a nationwide strike next Wednesday. The unions said the planned action was due to the government’s failure to meet their demands. Their demands include payment of arrears of specialist allowances and upgrade of their members due for promotion. JOHESU tagged the planned action ‘Operation Alligator Bite’, saying it would be …

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The Nigerian National Petroleum Corporation (NNPC) has inaugurated eight committees charged with the responsibility of rehabilitating the nation’s refineries. The committee is to help return Nigeria’s three refineries back to their “optimal levels of performance,” according to a statement issued on Wednesday by Ndu Ughamadu, NNPC spokesman. In the statement, Maikanti Baru, group managing director of the corporation, charged the …

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China plans to use bioethanol gasoline nationwide by 2020, the National Development and Reform Commission and National Energy Administration ( NEA ) said on Wednesday. “The plan was unveiled as the country is pushing the use of biofuel, which is renewable, applicable, tech-savvy and environmental-friendly. It is an ideal alternative to fossil fuel,” a senior NEA official said. Ethanol fuel, …

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The Federal Government can borrow up to but not more than $22bn in the 2017 fiscal year, the Debt Management Office has said. The DMO, in its ‘Determination of Borrowing Limit for 2017’ report, stated that the Federal Government could borrow up to 5.89 per cent of the country’s Gross Domestic Product estimated at $374.95 billion. According to the DMO, …

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The Registrar-General, Corporate Affairs Commission, Bello Mahmud, on Monday said that an amendment of the Companies and Allied Matters Act would strengthen the regulatory and enforcement capacity of the commission. Mahmud, according to a statement by the Head, Public Affairs Unit, CAC, Mr. Godfrey Ike, said this at the 2017 Annual General Conference of the Nigerian Bar Association. The CAMA, …

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In its determination to ensure that the current steady supply of petroleum products nationwide is sustained, the Nigerian National Petroleum Corporation (NNPC) has intensified efforts to safeguard its pipeline from vandals and fire outbreaks in line with best safety practices. The Group Managing Director of NNPC, Dr. Maikanti Baru, who disclosed this while receiving a delegation of the Occupational Safety …

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Customers of Ecobank Nigeria have won mouthwatering prizes at the Western Union “Mega Promotion” for its patrons in Nigeria. At the raffle draws amongst customers of 13 banks in Lagos, A western Union customer Gloria Edafe Asedegbega who transacted at Ecobank Unity Road Branch won one of two Hyundai cars on display. Also five other customers, who include Kemisola Aluko, …

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Activities on the floor of Nigerian Stock Exchange (NSE) on Monday September 11, 2017, closed on a negative note as the key market indicators decreased by 0.18 percent, bringing the year to date return to 32.71 percent. The All Share Index closed at 35,664.94 against the previous close of 35,957.24 while Market Capitalization closed at N12.293 trillion against previous close …

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About us Contact us Energy Industry  MENU Search for: September 11, 2017 Telecoms sector contributes N1.5trn to Nigeria’s GDP No CommentsShare:     The Nigerian Communications Commission (NCC) says the telecommunications sector contributed N1.54 trillion to the country’s Gross Domestic Product (GDP) in the second quarter of 2017. NCC’s  Executive Vice-Chairman, Prof. Umar Danbatta disclosed this while receiving the visiting Chairperson …

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