BUSINESS
Buhari Will Commission My Refinery Before End Of His Tenure — Dangote
Chairman of the Dangote Group, Alhaji Aliko Dangote, has assured that the Dangote Refinery will be ready for commissioning before the end of President Muhammadu Buhari administration in 2023. He gave the assurance Friday while fielding questions from...
Fuel Scarcity Worsens, Abuja Black Marketeers Sell N350/Litre
The lingering fuel scarcity worsened in some parts of the country with motorists buying petrol between N300 and N350-litre in Abuja on Monday. Some Abuja residents, who spoke with our correspondent, lamented the spike in the price of PMS as well as t...
Court Orders Multichoice To Sublicense Channels To Metro-Digital
The Appeal Court sitting in Port Harcourt, Rivers State, has ordered MultiChoice to sub-license some of its channels to Metro-digital in line with the code of the Nigerian Broadcasting Commission (NBC). Delivering his judgement on Wednesday, Justice ...
Nigeria’s Inflation Overshoots World Bank Projection By 20%
DESPITE raising its Monetary Policy Rate (interest rate), Nigeria’s inflation rate is now 20 per cent above the World Bank’s projection of 15.5 per cent. In its recent ‘Nigeria Development Update (June 2022): The Continuing Urgency of Business ...
Constant Collapse Of National Grid Embarrassing — Atiku
Presidential candidate of the Peoples Democratic Party (PDP) in the 2023 general elections, Atiku Abubakar, said on Wednesday that the recent total National Grid Collapse is too much for the Nigerian people to bear, saying it is becoming embarrassing...
The World’s Largest Food Company Nestlé Raised Its Product Prices The Most This Year
Nestlé hiked its prices by 6.5% in the first half of 2022 as it grapples with an "unprecedented" rise in costs. The world's largest food company raised its prices the most in North America — a 9.8% increase — followed by Latin America at 9.4%...
Africa Must Cut Reliance On Food Imports, Says Nigerian Billionaire Abdul Samad Rabiu
Food prices have been rising around the world, driven first by the Covid pandemic and poor harvests, and made worse by the conflict in Ukraine, which has hit exports of both wheat and fertilizer. Even with a new deal that would allow grain expor...
Enugu banker gets N200m bail in fraud allegation
An Enugu State High Court, Friday, granted bail worth N200 Million to Oliver Anidiobi, a banker who was accused of fraud. Anidiobi is facing trial before the court on 32 count charges of forgery and stealing, slammed against him by the Economic and Financial Crimes Commission (EFCC). He was earlier arraigned by EFCC on May 7 this year and was remanded...
World Bank blacklists CCECC, five other Chinese firms operating in Nigeria
The World Bank has blacklisted six Chinese companies currently operating in Nigeria over alleged fraud and corruption. The companies, according to an announcement published on the World Bank’s website, are CCECC Nigeria Railway Company Limited, CRCC Petroleum and Gas Company Limited and CCECC Nigeria Company Limited. Others are China Railway Construction (International) Nigeria Company Limited, China Railway 18th Bureau Nigeria Engineering...
Buhari names Soludo, Rewane, Salami in new economic team
President Muhammadu Buhari has named an Economic Advisory Council, EAC. The Council replaces the Economic Management Team that was chaired by the Vice President, Prof Yemi Osinbajo. The new EAC Buhari named on Monday has Prof Doyin Salami as the Chairman. Other members are Dr. Mohammed Sagagi (Vice-Chairman); Prof Ode Ojowu; Dr Shehu Yahaya; Dr Iyabo Masha; Prof Chukwuma Soludo;...
