BUSINESS
Anti-Oil Theft Group Applauds NNPC Trading Boss Over Transparent Service Delivery
A group set up to tackle rising cases of crude oil theft and pipeline vandidalism in the Niger Delta region has commended the Managing Director of the NNPC Trading Limited, Lawal Sade over his outstanding performance and promoting transparency and efficiency in the sector. The group known as the Niger Delta Anti-Pipeline Vandalization and Oil Theft Task Force Group, NAVOTTFG,...
For The First Time In Two Years, Emirates Flight Lands In Lagos
The United Arab Emirates (UAE) flag carrier Emirates flight landed at the Murtala Muhammad International Airport (MMIA), Lagos, on Tuesday. This is coming two years after the suspension of operation by the airline over several issues including unresolved trapped funds belonging to the airline. However, the flight EK 783 which touched down at the old terminal of the MMIA at exactly...
List Of Ten African Nations Where Workers Earn Highest Wages [Must Read]
There are several countries in Africa where workers, particularly salaried employees, are well paid. Here’s a look at the top 10 African countries where workers earn the best salaries, as a result of the economic conditions and high demand for skilled labour. Morocco The first on this list is Morocco, with an average salary of $2,031 due to its diversified economy, strong...
China Ready To Lend Us More Money, We’re Not Discussing Debt Forgiveness With Them — FG
The Federal Government of Nigeria says it is not discussing debt forgiveness with China, noting that Beijing is willing to lend Nigeria more money and invest more in the economy of Nigeria. The Minister of Foreign Affairs, Yusuf Tuggar, stated this on Channels Television’s Sunday Politics programme. Nigeria has been making proposals for debt forgiveness at the United Nations General Assembly...
It’s Time To End Costly Fuel Subsidy, Dangote Tells FG
The President and Chief Executive of Dangote Group, Aliko Dangote, has urged the Federal Government to end fuel subsidies completely. Speaking in a 26-minute interview with Bloomberg Television in New York on Monday, the time is right to end subsidies which have gulped trillions of naira from the country’s coffers. According to him, the removal would assist in determining the country’s...
End Fuel Subsidy Now, Save Nigeria’s Economy – Dangote Tells FG
The founder of Dangote Petroleum Refinery, Aliko Dangote, has said it’s time for the federal government to end the fuel subsidy regime. In an interview with Bloomberg on Monday, Dangote said fuel subsidies would lead to the government “paying what they are not supposed to be paying,” hence the need to end it. The business mogul insisted that the President Bola...
At N52 Per Litre, Libya Offers Cheapest Petrol Price In Africa
Libya continues to offer the cheapest petrol in Africa, with the price of octane-95 gasoline (petrol) standing at 0.15 Libyan Dinar per litre, equivalent to approximately $0.032 or N52 as of September 16, 2024. This is according to a report by Global Petrol Prices, a platform that tracks retail petrol prices across various countries. In comparison, petrol prices in Egypt, Algeria,...
FG To Backdate Payment Of Minimum Wage From July 29
The Committee on Consequential Adjustments in Salaries for civil servants has agreed that the new minimum wage will be implemented from July 29, 2024. This was stated in a Memorandum of Understanding issued at the end of the committee’s meeting, which was seen by our correspondent in Abuja on Friday. The MoU reads: “The NSIWC will generate the appropriate salary templates...
Tinubu Assures Business-Friendly Economy As Coca-Cola Announces $1bn Investment In Nigeria
President Bola Tinubu has reiterated his administration’s commitment to creating a robust financial system and a business-friendly economy that will attract more foreign direct investments. The President made the commitment on Thursday in Abuja, as the Coca-Cola Company announced plans to accelerate its investments in Nigeria to $1 billion over the next five years. This was disclosed by the Special Adviser...
Private Employers Paying Less Than N70,000 Risk Jail Term, FG Warns
The Federal Government has called on agencies recruiting for the private sector to adhere to the N70,000 minimum wage, warning that any deviation would not be tolerated. According to the FG, the new minimum wage is necessary to address the current economic reality, emphasising that no Nigerian worker, whether in government or private employment, should be paid less than the...
