News

The Association of Nigerian Exporters has commended the leadership of the Oil and Gas Free Zones Authority (OGFZA) for demanding a downward review of tariffs payable in the free zones. The Director General of the association, Prince Joseph Idiong, in a statement, said that the call for a downward tariff review by OGFZA at once reflects the sensitivity of the …

Read More »

Details of the President Muhammadu Buhari’s New Vision for oil-producing communities in the Niger Delta, is emerging as an idea is now being worked out to explore how some of the illegal refiners and the local communities in the region can become shareholders in the proposed Modular refineries concept of the Federal Government, presidency sources have disclosed. The consideration going …

Read More »

The Nigerian Stock Exchange (NSE) has placed UNIC Insurance Plc on full suspension, following approval of the scheme of arrangement that will lead to a restructuring of the insurance company under an investment holding company. Full suspension disallows both trading and price movement on a particular stock unlike technical suspension which allows trading without price movement. The NSE stated that …

Read More »

The Indian High Commission has said that the total trade between Nigeria and India in the past one year has hit $643.3 billion Head of Chancery at the High Commission of Indian, Lagos, Mr. Jagdeep Kapoor, made this known at the Indian products and services exhibition held in Lagos. He said, “India as we know, is Nigeria’s largest trading partner. …

Read More »

Folake Sokoya The men of the Ogun State Police Command have arrested one Adeoye Ikugbayigbe, for killing a 72year old woman, Funmilayo Shada and severing her head. The suspect was arrested after the son of the deceased, Ekundayo Shada lodged a complaint at the Abigi police Divisional Headquarters on March 17, 2017, that while he was on his way to …

Read More »

The Central Bank of Nigeria on Monday introduced new Forex rates and would no longer trade the naira at N375 per dollar for invisibles, such as school fees, medical bills and travel allowances. The regulator said Nigerians can now get the dollar at N360 across all commercial banks within the country. “The CBN [is] to sell forex to banks at …

Read More »

Indications have emerged that Insurers’ Committee comprising the National Insurance Commission (NAICOM) and Chief Executive Officers (CEOs) of 58 insurance companies cannot raise N300 million for the industry’s rebranding project aimed at deepening insurance awareness and penetration. The cash was meant to fund the project for massive insurance education and awareness across the federation. According to reports, it was learnt that lack …

Read More »

No fewer than 70 million generators have been imported into the country, the Chief Executive Officer, Consistent Energy Limited, Mr Segun Adaju, has said. Adaju said that shortage of gas, which is the feedstock for power plants across the country, is the reason for the high incidence of generation units importation in the country.. Adaju said a research by his organisation …

Read More »

The Chief Executive Officer, Anabel Group, Nicholas Okoye has said the capacity utilisation for industries in the private and public sectors in the country has dropped to less than 40 percent. He stressed the need for entrepreneurs and company managers to focus on planning for succession and, most importantly, focus on supporting the growth of leaders within their companies. In …

Read More »

The Centre for Entrepreneurship Development and Vocational Studies of the Federal Polytechnic, Ado-Ekiti has so far produced more than 7,500 graduates in the last five years. The Rector of the institution, Dr Theresa Akande, made this known when she spoke in Abuja on Monday. Akande said the centre took off in 2011 to encourage self-reliance among students of the polytechnic, …

Read More »