BUSINESS
Nigeria Has Lost N700 Billion In 12 Days Of #ENDSARS Protest – LCCI
The Lagos Chamber of Commerce and Industry (LCCI) says the Nigerian economy has lost N700 billion in 12 days due to the ongoing #EndSARS protests. There have been protests nationwide against the brutality of the special anti-robbery squad(SARS) of the police force. In a statement on Monday, Toki Mabogunje (pictured), LCCI president, said the protests have crippled economic activities in the...
DStv, GOtv Undergoing Upgrade, Not Hacked – MultiChoice
MultiChoice says claims circulating on social media that its entertainment platforms – DStv and GOtv- have been hacked was not true. A representative of the company who pleaded anonymity told The PUNCH (not ABN TV) on Sunday. It was gathered that the Pay-TV company was upgrading its system and had informed its subscribers via text messages last week. The company told its...
Dangote Refinery, Others Threaten Existing Plants – OPEC
New refining capacities expected to come on stream in Nigeria and other African countries in the next few years may increase pressure on existing plants on the continent, the Organisation of the Petroleum Exporting Countries has said. OPEC, in its newly released 2020 World Oil Outlook, estimated refining capacity additions between 2020 and 2025 at around 5.2 million barrels per...
BREAKING: Okonjo-Iweala Elected First Female Leader Of WTO
All indications are that Dr Ngozi Okonjo-Iweala has been Elected as the first female leader of the World Trade Organisation (WTO). A source revealed that Dr Okonjo-Iweala is the top choice for the job, although her contender, Yoo Myung-hee of the Republic of Korea, is still very much in the race. See the full WTO statement titled “WTO members narrow field...
Nigeria Heading For Another Recession, To Recover In 2021 – Buhari
President Muhammadu Buhari on Thursday said the country was primed for a second recession in four years although the government has put in place plans to ensure rapid recovery in 2021. The President made the remarks during the presentation of the 2021 budget proposal to the National Assembly. Like many other countries, the Nigerian economy has been hit hard by the...
Onitsha Seaport Will Drive Industrialization, Says Kalu
Following the successful completion of a trial barge trip (carrying containers) from Onne Port to Onitsha Port on Tuesday, former Governor of Abia State and Chief Whip of the Senate, Senator Orji Kalu has lauded the federal government for revamping Onitsha river port. According to Kalu, the resumed activities at Onitsha seaport will boost economic activities in the South East...
Agricultural Development: FG Pledges Readiness To Carry Abia Along
The Federal Government has expressed its commitment to carry Abians along in its agricultural policies to further guarantee food security in the state. ABN TV reports that the Managing Director Nigeria Film Corporation, Dr Chidia Maduekwe made this known on Tuesday during the flagging off of the Central Bank of Nigeria's anchor borrowers programme. He said the agricultural programme is one...
Those Running Nigeria’s Economy Are Not Professionals – NES
NIGERIA Economic Society, NES, Tuesday took a swipe at President Muhammadu Buhari on his appointment, saying that those in his economic team are not professionals. According to Professional Economists, the engagement of novice in managing the economy explained why the Nation’s economy was nose-diving, adding that it was very wrong in the first place to exclude qualified and knowledgeable...
Chevron Nigeria To Sack 25% Of Workforce
Chevron Nigeria Limited has said it will slash its workforce by 25 percent as it is reviewing its manpower requirements in the light of the changing business environment. CNL disclosed this on Friday in a statement entitled ‘Chevron Nigeria Limited reviews workforce in accordance with business exigencies’. The oil major said it would continue to evaluate opportunities to improve capital efficiency...
Petrol Pump Price May Crash
The Pipeline Products Marketing Company (PPMC) may crash the prices of Premium Motor Spirit (PMS) petrol this month, ABN TV learnt at the weekend. The Independent Petroleum Marketers Association of Nigeria (IPMAN) National Vice President, Alhaji Abubakar Maigandi, said the marketers are looking forward to a downward review of the ex-depot price for October. He based his forecast on the decline...
