News

President Muhammadu Buhari will on Wednesday launch the Economic Recovery and Growth Plan 2017-2020. According to a statement on Tuesday by the Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, the launching is in furtherance of the current administration’s drive to sustain and build on the successes so far recorded in tackling corruption, improving security and …

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Lagos State Government is set to sponsor an executive bill before the state House of Assembly to regulate the employment of domestic workers and security guards. Governor Akinwunmi Ambode disclosed this at the launch of the Lagos Neighbourhood Safety Corps (LNSC) held at the Agege Stadium in Lagos on Monday.  Ambode said that the bill would prescribe regulations for such …

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The World Bank, under its Growth and Employment, GEM, project, has approved N756.3 million for disbursement to 81 young Nigerian innovators who participated in the 2016 Aso Villa Demo Day, AVDD. The AVDD is one of the economic empowerment initiatives of the present administration. A document obtained from the World Bank-funded GEM project on Monday in Abuja, showed that the …

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The National Identity Management Commission (NIMC) says it is working hard to address the challenges associated with the delay in issuance of the new National Identity Cards to Nigerians. The Director-General of the commission, Mr Aliyu Aziz, said in Abuja, on Tuesday, that the commission had been inundated with complaints about the delay. Aziz said the complaints were from Nigerians …

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Following the complete acquisition of ExxonMobil’s 60 per cent equity stake in Mobil Oil Nigeria (MON) Plc operations by NIPCO Plc in a N90 billion deal, the new owners have announced a new name for MON. Group Managing Director of NIPCO Plc, Mr. Venkataraman Venkatapathy, at a media briefing to announce the complete acquisition of MON in Lagos, yesterday, said …

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• N2.067b Savings Bond listed on NSE The Debt Management Office (DMO) has reiterated Federal Government’s commitment to ensuring that people at the grassroots benefit from investment and growth potentials in the economy. Its Director-General, Dr. Abraham Nwankwo, who spoke during the listing of N2.067 billion Federal Government of Nigeria (FGN) Savings Bond on the floor of the Nigeria Stock …

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• Over one million jobs created since concession The Nigerian Customs Service (NCS) and other government agencies account for the huge cost of doing business at the ports, Nigeria’s leading accounting firm, Akintola Williams Deloitte, has said. It stated this in an industry report titled: “Public Private Partnership (PPP) As an anchor for diversifying the Nigeria economy, which it has just …

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As the nation grapples with inadequate electricity supply, the power sector suffered a loss of 2,746 megawatts (mw) and N34.60 billion, in the month of March due to system collapse and gas constraints, according to the daily operational report of the Nigerian Electricity System Operation obtained by Sweetcrude. This shows an improvement over the 4,276mw loss recorded in February, but …

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Petroleum and Natural Gas Workers, NUPENG, has blamed the delay in the passage of the Petroleum Industry Bill, PIB, for the rot in the oil industry and the slide in returns on investments in the sector. The Union, in a statement by its President and General Secretary, Igwe Achese and Joseph Ogbebor, respectively, called on the National Assembly to expedite …

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Century Power Limited, a subsidiary of the Obijackson Group, owners of Nestoil Limited, will boost electricity generating capacity by 1,500 megawatts (Mw) on completion of its proposed power plant in Okija, Anambra State. The power station, known as Century Power Generation Plant, will be built in three phases. The first phase will  have a generation capacity of 495Mw and is expected …

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