BUSINESS
Buhari Reverses Self On Sale Of ExxonMobil Shares To Seplat Energy
President Muhammadu Buhari on Wednesday, reversed his authorisation of the acquisition of the entire share capital of Mobil Producing Nigeria Unlimited by Seplat Energy Offshore Limited. The move puts the Presidency on the side of the Nigerian National Petroleum Company Limited which had earlier declined the $1.3bn transaction. On Monday, a statement by the Special Adviser to the President on Media...
Geometric Power: Hope For Power Boost Rises In Abia As American Technical Experts Arrive Aba
A team of power experts from the United States has arrived in Abia State to start work as the technical partner of Aba Power Limited, a subsidiary of Geometric Power Limited. Geometric Power was founded by Professor Bart Nnaji, a former minister of Power and an engineer respected worldwide. The team, led by Dr. Dan Waddle, is from the international arm...
My Government Has Given N100bn Loans To Indigenous Manufacturers – Buhari
President Muhammadu Buhari on Tuesday said the Federal Government has disbursed a total of N100 billion to indigenous pharmaceutical manufacturers and healthcare investors as loans. Buhari said the loan was to expand the capital base of pharmaceutica...
Nigeria Makes World Bank’s List Of Top Debtors
Rising debt has pushed Nigeria up the World Bank’s top 10 International Development Association borrowers’ list. The World Bank Fiscal Year 2021 audited financial statements, known as the IDA financial statement, showed that Nigeria was rated fif...
Nigerians To Pay Double In Phone Call, Data As FG Implements New Telecom Tax
Call and data tariffs may increase by as much as 100 per cent if plan by the federal government to hike consumption tax on telecom services scales through. ABN TV reports that the federal government had recently disclosed plan to implement a 5 perce...
Bakers Set To Raise Prices Of Bread Again, Say Cost Of Production Increasing
Bakers, under the aegis of the Premium BreadMakers Association of Nigeria, have warned of yet another hike in prices of bread due to the skyrocketing cost of baking materials. President of the association, Emmanuel Onuorah, disclosed this to The PUNC...
FG To Generate N160bn From Call, Data taxes
The Federal Government will generate about N160.46bn from excise duty on telecommunication services in 2023. According to the Nigerian Communications Commission, the combined revenue of operators in the GSM, Fixed Wired, and Internet Service Provider...
It’s Illegal To Disconnect Electricity User Without Notice Of 10 Working Days — FCCPC
Federal Competition and Consumer Protection Commission, FCCPC, has said no electricity distribution company (Disco) has the right to disconnect a customer without first serving a notice for at least 10 working days from the date of delivery of their ...
Travellers Stranded As Dollar Shortage Hits Banks – Report
Nigerians are finding it increasingly difficult to access the United States dollar at the Central Bank of Nigeria’s official rate for eligible transactions. Worse affected are those travelling abroad who are experiencing delays in accessing Busines...
Hold Marketers Responsible For Increase In Fuel Price — FG
The Federal Government on Monday insisted that it had not raised the pump price of Premium Motor Spirit, popularly called petrol, above the regulated cost of N165/litre. It said the hike in the cost of the commodity, currently between N175/litre and ...
