BUSINESS
UAE Offers Doctors, Students 10-year Golden Residency Visa
The United Arab Emirates said Sunday it will grant all doctors and infectious disease experts living in the country a 10-year visa, who are helping to combat the coronavirus pandemic. Foreigners in the UAE, like most Gulf countries, are generally only given limited residence visas tied to their current employment, and long-term residency is difficult to obtain. But to attract wealthy...
Petrol To Sell At N168 As PPMC Increases Depot Rate
The Petroleum Products Marketing Company, PPMC, a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has increased the depot price of premium motor spirit, better known as petrol. In a November 11 internal memo signed by Ali Tijjani, the PPMC proposed that the November depot price of petrol be increased to N155.17 from N147.67 per litre. According to the memo, the...
BREAKING: Petrol Pump Price Now N170 Per Litre
The Independent Petroleum Marketers Association of Nigeria (IPMAN ) has directed marketers to sell the Premium Motor Spirit (PMS ) for N170 per litre. The instruction followed Thursday’s night announcement of N155 .17ex-depot price to the marketers. IPMAN National Vice President, Alhaji Abubakar Maigandi, said: “The PPPMC ) last midnight told us that the ex-depot price is now N155. 17 per...
Take Advantage Of Nigeria’s Resources For Investment, Buhari Urges International Community
President Muhammadu Buhari on Thursday urged the international community and investors to take advantage of Nigeria’s diversity in human and natural resources for investment. The President also explained that his administration remains committed to youth development, integration and employment. He spoke at a ceremony to receive the Letters of Credence of the Ambassadors of Belgium, Mauritania, Austria and Norway at the...
FG On Course To Pass Budget Before 2021 – Budget Office
The Federal Government is on course to ensure that the 2021 Appropriation Bill currently before the National Assembly is passed before the end of the year. Mr Ben Akabueze, the Director-General of the Budget Office, stated this during his appearance on Channels Television’s Sunrise Daily on Thursday. He noted that the budget defence by various Ministries, Departments, and Agencies (MDAs) before the lawmakers...
#ENDSARS Protest Disruption Cost Economy N1.5 Trillion – FDC
The economic cost of the #EndSARS protest disruption is estimated at N1.5tn, approximately 1.03 per cent of the GDP and 11.47 per cent of the 2021 budget, Financial Derivatives Company Limited has said. “This suggests that the economic recovery path could be longer than anticipated. Massive investment in job-elastic sectors with minimal control on the pricing mechanism will serve as catalysts and...
FG Approves $124.2 Million Loans For Water Projects
The Federal Executive Council has given approval for the collection of $104.2m and $20m loans from two international financial institutions for the development of water projects in Nigeria. According to the Federal Ministry of Water Resources, the loans would come from the African Development Bank and the African Growing Together Fund. A spokesperson for the ministry, Kenechukwu Offie, who disclosed this...
Nigeria Reaching Maximum Capacity To Borrow, Says El- Rufai
Governor Nasir El-Rufai of Kaduna State has revealed that the country is about reaching its maximum capacity to borrow, hence the need to improve on other channels of revenue generation in the country. He made these remarks during his keynotes address at the 22nd Annual Tax Conference, themed “Taxation and Competitiveness: Imperatives for National Development” on Thursday in Lagos. Governor El-Rufai,...
FG To Sell Afam Power Plant For N105 Billion
The federal government will realise the sum of N105 billion from the privatisation of Afam Power Plant. The Director-General of the Bureau of Public Enterprises, BPE, Mr Alex Okoh, stated this in Abuja, yesterday. According to him, the deal will be sealed at the Villa. He said that despite the COVID-19 pandemic, the BPE remained active. Meanwhile, the Bureau stated...
Nigeria’s Debt To Hit N38 Trillion Next Year – Finance Minister
Zainab Ahmed, the minister of finance, budget and national planning, has projected that Nigeria’s debt profile would hit N38.68 trillion by December 2021. Speaking when she appeared before the Senate committee on local and foreign debts on Tuesday, Ahmed estimated that both external and domestic debt would rise to N32.51 trillion by December 2020. According to the Debt Management Office, the...
