BUSINESS
Nigeria Does Not Have Enough Crude Oil For P/Harcourt Refinery, Others – Minister
The Minister of State Petroleum Resources (Oil), Heineken Lokpobiri, has once again expressed fear that the newly inaugurated Dangote Petrochemical Refinery, Port Harcourt Refinery, Warri Refinery, Kaduna refinery and modular refineries in the country may not get enough crude oil locally for the production of petroleum products without increase in production in the sector. Lokpobiri expressed this fear publicly for...
Nigeria Sets Date To Commence Aeroplane Manufacturing, Partners Hungarian Company
Before the end of 2023, Nigeria may be among the countries that manufacture aeroplanes as the federal government has entered into a partnership with a Hungarian airplane manufacturing company. Expressing readiness to established an assembling plant in Nigeria, the Minister of Aviation, Hadi Sirika said that the partnership with the Magnus aircraft manufacturing industry in Hungary would pave way for...
Oil Wasn’t Developed With Money From Cocoa, Says Bayelsa Governor
Bayelsa State Governor Duoye Diri has explained that oil wasn’t developed in Nigeria by money made from cocoa farming but money invested by international oil companies. The governor, on Thursday, during an interview on Channels Television breakfast programme, Sunrise Daily said many Nigerian leaders wrongly spread the notion that cocoa money was invested into oil exploration in the country. “A lot...
Agriculture, Youth Vocational Training, Enyimba Economic City Top Agenda As Ikpeazu Meets French Minister
Abia State Governor, Dr Okezie Ikpeazu, has canvassed for greater cooperation between the State and the French Government to help develop the agriculture sector, micro small, and medium scale enterprises as well as the Enyimba Economic City Project. Speaking in Paris during a meeting with the French Minister For Trade and Commerce, Franck Riester, Governor Ikpeazu who applauded the existing...
#EndSARS: Despite Losing About N50m, We’re Committed To Making Enyimba Mall Reality — MD [VIDEO]
Business owners are still nursing the numerous losses encountered during the #EndSARS protest as some of them had their properties destroyed and goods looted. One of such is the magnificent Enyimba Mall Outlet, an edifice located at Ngwa Road by East Aba that was partly destroyed by hoodlums who infiltrated the #EndSARS protesters to unleash mayhem on citizens. Building materials...
CBN Increases Interest Rate To 16.5%
The Monetary Policy Committee of the Central Bank of Nigeria voted Tuesday to increase the benchmark interest rate by 100 basis points to 16.5 per cent, the highest since 2001. The CBN Governor, Godwin Emefiele, disclosed this while reading the communique of the last MPC meeting of the year on Tuesday, November 22, 2022. The MPC said the tightening would curb...
FG Considers Fresh Loan Of $500m From World Bank For Rural Roads
The Federal Government is seeking a $500m loan from the World Bank to enhance rural road infrastructure and agricultural marketing across the federation. The international lender said the fund was expected to address the dire need for better connectivity in rural Nigeria, where 92 million people currently lack access to good roads. This request was contained in the final draft of...
ANAN FCT 1 Abuja To Host 2023 MCPD Programme
The Association of National Accountants of Nigeria, ANAN FCT 1 Abuja branch will host the 2023 edition of Mandatory Continuing Professional Development (MCPD) programme of the association. A release on Monday by the Central Planning Committee said the 3-day programme which has as the theme "Understanding Financial Disclosures On Sustainability" commences Monday, 6th — Wednesday 8th February, 2023. Venue is AGNL...
Subsidy Removal: Gov. Makinde To Review Minimum Wage Of Oyo Workers
Governor Seyi Makinde of Oyo State has shown commitment to review salaries of civil servants in the state, as part of efforts to cushion the effect of the oil subsidy removal by the Federal Government. The development came barely 48 hours to the commencement of the proposed nationwide strike by labor unions across the country. Consequently, the governor has set up...
Reps Approves Buhari’s Request To Borrow N1 Trillion From CBN
The House of Representatives has approved the request by President Muhammadu Buhari to secure an additional N1 trillion loan from the Central Bank of Nigeria (CBN) to fund the 2022 supplementary budget. The CBN has already violated its enabling law by loaning the federal government more than the approved limit, PREMIUM TIMES reported. This did not, however, deter the lawmakers...
