The Minister for Agriculture and Rural Development, Chief Audu Ogbeh, has urged the Organised Private Sector (OPS), especially Nigerian banks, to increase funding in agriculture and make the country food self-sufficient. The Minister, who identified lack of capital and research as a major hindrance to job creation and development in the sector, also stressed the need for banks to support …

Despite efforts by the Nigerian National Petroleum Corporation (NNPC) to crash prices through massive importation supported by output increase from the local refineries, prices of fuels have remained high across the country. High cost of petroleum products will impoverish Nigerians the more and cut deeper into the already pressured disposable income given the very high inflation rate and economic downturn …

Nigeria, which again lost its Africa’s top oil producer status to Angola in January, has recorded further decline in its crude oil production, a new report from the Organisation of Petroleum Exporting Countries has indicated. OPEC, in its Monthly Oil Market Report for March 2017, put crude oil production from Nigeria at 1.526 million barrels per day in February, down …

The Minister of Finance, Mrs. Kemi Adeosun, has brokered a resolution of the dispute between the National Pension Commission and the National Insurance Commission over a circular issued by PenCom directing life insurance companies to transfer their annuity asset holdings to Pension Fund Custodians. The intervention of the minister was confirmed in a statement by the Director of Information, Ministry …

The Federal Government is set to declare telecommunications facilities across the country as critical national infrastructure. The Minister of Communications, Mr. Adebayo Shittu, disclosed this at a reception and presentation of the Board of Commissioners of the Nigerian Communications Commission in Abuja. Shittu also stated that the telecommunications sector had attracted $60 billion investment since the introduction of digital mobile …

The Nigeria Customs Service on Wednesday announced the suspension of the implementation of the payment of import duties on old vehicles. The suspension is in compliance with an earlier directive by the Senate that the policy, which has generated controversies, should be suspended. A statement by the Acting Public Relations Officer, NCS, Mr. Joseph Attah, stated that suspension of the …

President Muhammadu Buhari has approved the payment of the outstanding N22 billion that is meant for dealers of agricultural inputs, popularly known as agro-dealers, in order to ensure the seamless distribution of fertilisers at an approved rate of N5,500 for 50kg. Earlier this year, the Minister of Agriculture and Rural Development, Chief Audu Ogbeh, announced that the Federal Government was …

Tayo Olanipekun Lagos State Commissioner for Establishment, Pension and Training, Dr. Akintola Benson Oke, has reiterated Governor Akinwunmi Ambode’s commitment to ensure that Civil Servants in the State acquire the relevant skills required for optimum performance in the discharge of their duties. Speaking on Thursday at the commencement of a two-day workshop organised by his Ministry in collaboration with XLS …

The Federal Government has urged the Nigerian Senate to approve$500 million Eurobond to fund the 2016 Budget deficit. In a letter to the Senate read by president of the Senate,Bukola Saraki, Vice President Yemi Osinbajo explained that the request wasbased on the 2016 appropriation, which provided for new borrowings. Part of the letter read:  “The Senate may wish to refer …

  The proposed competitive tariff regime of Nigerian Ports Authority (NPA) would place the Agency on a better platform in the sub-region, Managing Director, Hadiza Bala Usman has said. Addressing a team of Oxford Business Group UK, who paid her a courtesy visit, Usman also promised to ensure full implementation of the nation’s ports master plan. According to her, the …