BUSINESS
Nigeria Owes China $3.714bn ― DMO
The Debt Management Office (DMO) had put Nigeria’s total loan obligations to China at $3.714 billion by the end of 2020. According to a document obtained from the debt agency, $449.89 million has been repaid from the principal and $391.66 million, as interest, with an outstanding of $3.264 billion to the China Export/Import Bank. The Nigerian Railway Modernisation Project (Lagos –...
Nigerians Should Accept Increase In Fuel Price – Minister
The Federal Government has insisted that Nigerians should brace up for an increment in the pump price of petrol, in the light of the current economic situation in the country. The minister said, “It is very unfortunate that if (there is) an increment in fuel pump price, (it) would have an impact on the marketplace and we are not happy...
Dr. Ogah Extols Contribution Of Engineers For National Development In Line With Buhari’s Vision
The Minister of State Mines and Steel Development Dr Uchechukwu Sampson Ogah has emphasized the need for engineering innovations and solutions to facilitate the development and adoption of appropriate technologies for national development in line with the vision of President Muhammadu Buhari. Dr Ogah made this emphasis during the the 2021 Annual Public Lecture, organized by the Nigerian Society of...
CBN Sacks Directors Of First Bank Holdings And First Bank Plc
The Central Bank of Nigeria (CBN) has just removed all the directors of First Bank of Nigeria Plc and those of First Bank Holding Company. Those sacked included Chairman of First Bank, Chief (Mrs) Ibukun Awosika, and the Chairman of First Bank Holding, Mr. Oba Otudeko. READ ALSO: Ikpeazu Moves To Criminalise Open Defecation, Signs Into Law Abia State Water Bill Details...
Cable TV: Reps Move To Break Monopoly, Make Pay-Per-View Compulsory
The Deputy Chairman of the Committee on Communication, House of Representatives, Unyime Idem, has said Nigerians will soon be enjoying pay-per-view bouquets. Idem, who is representing Ukanafun/Orukanam Federal Constituency in Akwa Ibom State, is chairman of the ad hoc committee set up by the House of Representatives to investigate tariff increment by cable/satellite television service providers in Nigeria. The House had...
Crude Oil: Nigeria’s Exact Production Volume Not Known — NEITI Reveals
The exact volume of crude oil produced in Nigeria, especially at the deep offshore fields, is not known by anyone, the Nigeria Extractive Industries Transparency Initiative said on Thursday. Executive Secretary, NEITI, Orji Ogbonnaya-Orji, disclosed this in Abuja during a courtesy call on the Director-General of the Federal Radio Corporation of Nigeria, Mansur Liman. He told his host that the exact...
Nigeria Hits 18.17% Inflation Rate – NBS Reports
Nigeria's inflation rate rose from 17.33% recorded in February to 18.17% in the month of March. In the latest report released by the National Bureau of Statistics (NBS), the Headline index increased by 1.56% in March 2021, this is 0.02% points higher than the rate recorded in February 2021 (1.54 percent). Food inflation, a closely watched index spiked to 22.95% from 21.79% recorded in the...
ANAN Set To Establish Polytechnic In Keffi
The Association of National Accountants of Nigeria, ANAN has concluded plans to establish a Polytechnic in Keffi, Nasarawa state as part of efforts to widen the platform for training of Accountants as well as making the profession more attractive. This is coming few months after the National Universities Commission, NUC granted the Association provisional licence for the establishment of ANAN...
Obaseki Decries Nigeria’s Rising Debt Profile, Says FG Printed N60bn To Share In March [VIDEO]
Edo State Governor, Godwin Obaseki, has said Nigeria is in “huge financial trouble” with the way the economy is run. Obaseki lamented that Nigeria was the only country in the world where the federal, state, and local governments earn salaries at the end of the month, adding that the Federal Government printed N60bn as part of federal allocation for March. Speaking...
Ikpeazu Vows To Complete Enyimba City Garment Industry This Year
Abia State Governor, Dr. Okezie Ikpeazu on Friday performed the ground-breaking ceremony for the construction of the Aba Leather And Garment Industrial Cluster and the Enyimba City Garment Industry all located at Umunneato, Umukalika in Obingwa Local Government Area with an assurance to complete the Garment Industrial Cluster this year. According to the Governor, the Enyimba City Garment Industry is...
