BUSINESS
WEF: Tinubu Secures $600m Deal For Nigerian Ports
President Bola Tinubu has secured a $600m investment from Danish shipping and logistics firm A.P Moller-Maersk, the presidency said on Sunday. The deal is to help in expanding port infrastructure to accommodate more container shipping services in Nigerian ports. Chairman of A.P Moller-Maersk, Mr. Robert Maersk Uggla, disclosed the decision during a meeting with President Tinubu on the sidelines of the...
Anambra Commissioner Of Police Retires, Vows To Give Dangote A Run For His Money
The Anambra State Commissioner of Police, Aderemi Adeoye, has retired with a vow to fully go into business, saying he is ready to give Africa’s richest man, Aliko Dangote, a run for his money. Adeoye stated this on Saturday during his ceremonial pull out parade from the Nigeria Police Force at Dr Alex Ekwueme Square in Awka, Anambra State capital. According...
Logistics Issues Responsible For Fuel Scarcity — NNPC
The Nigerian National Petroleum Company Limited (NNPC Ltd) says logistics issues were responsible for the resurfacing of fuel queues in some parts of the country. But it says the issues have been resolved, according to a statement by its spokesperson Olufemi Soneye. “The Nigerian National Petroleum Company Limited (NNPC Ltd) wishes to clarify that the tightness in the supply of Premium...
Ebonyi Govt Considers Floating Airline
Ebonyi State Government has said it will float an airline for effective and easy air transportation in the state. The government said it would embark on the airline business after the completion of ongoing asphalting of the runway at Chuba Okadigbo International Airport, Abakiliki. Commissioner for Aviation and Transport Technology, Dr. Ngozi Obichukwu, who disclosed this to journalists in her office...
Step-by-Step Guide On How To Access Credit From CREDICORP For Civil Servants
In a significant move to boost social mobility among Nigerians, President Bola Tinubu has approved the first phase of the Consumer Credit Scheme, managed by the Nigerian Consumer Credit Corporation (CREDICORP). Initially exclusive to civil servants, this scheme aims to make consumer credit accessible and empower economically active citizens. Here’s a step-by-step guide on how civil servants can apply to enjoy...
Senate Warns That Looted Funds Should Not Be Used For Banks Recapitalisation
The Senate Committee on Capital Market & Institutions has cautioned against the potential risks of utilizing laundered funds for the recapitalization of banks. The Chairman of the Committee, Senator Osita Izunazo, during the 2nd Quarter Symposium organized by the Association of Capital Market Academics of Nigeria (ACMAN), urged the Central Bank of Nigeria (CBN) to intensify efforts in ensuring that...
African Economy Can’t Industrialise In Darkness — AfDB President
President, African Development Bank (AfDB), Dr Akinwunmi Adesina, has said that no economy can industrialise in darkness, underscoring the importance of electricity in growing the fortunes of any nation. In appreciation of the need to electrify Africa, Adesina said that the World Bank Group and the AfDB are collaborating to provide energy access to 300 million Africans by 20230. Adesina and...
Dangote Refinery Slashes Diesel Price To N1,000 Per Litre
The $20 billion Dangote Petroleum Refinery has slashed the price of diesel by 16.6 per cent to N1,000 per litre, from N1,200 per litre in order to assist in impacting Nigeria’s domestic economy. In a statement, the refinery said it supplied diesel at a substantially reduced price of N1,200 per litre three weeks ago, representing over 30 per cent reduction from...
Reduction In Price Of Diesel Will Fight Inflation, Says Dangote
The Chairman of Dangote Group, Alhaji Aliko Dangote, has assured that the slash in diesel price to N1,200 by his refinery below the market rate of N1,650 would help curtail Nigeria’s rising inflation figure. Dangote stated this during a homage visit to President Bola Tinubu in Lagos at commerorate the Eid-el-Fitr celebration. He maintained that the significant reduction in the diesel...
Nigeria’s Electricity Supply Increased By 14.64 In 2023 – NBS
Nigeria’s electricity supply increased by 14.64 per cent in the fourth quarter of 2023 on a year-on-year basis. This was disclosed by the National Bureau of Statistics’ latest electricity report. The report said the country’s electricity supply surged to 6,432 gigawatt-hours in Q4 2023 from 5,732gwh in the previous quarter. Also, the figure represents an increase compared to 5,611Gwh reported in...
