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Tag Archives: business

We’re On The Same Page With FG On Borrowing – W’Bank

World Bank president Jim Yong Kim

The World Bank says it is not in disagreement with the Federal Government on the need to borrow to finance infrastructure. In a letter to the Minister of Finance, Mrs. Kemi Adeosun, in Abuja on Wednesday, the World Bank Country Director for Nigeria, Mr. Rachid Benmessaoud, said the bank had commended the Federal Government for efforts to rebalance the nation’s debt portfolio, according to a ... Read More »

Government Proposes Model To End Estimated Electricity Billing in Three Years


The Federal Government has initiated a business model to end estimated billing for every electricity customers in the next three years. The proposed business model provides for the licensing of Meter Services Providers (MSP) by the Commission who would, on a competitive basis, provide for the financing, procurement, installation, maintenance and replacement of electronic prepaid meters for end-users of electricity. This was contained in a ... Read More »

20 Companies Set For Commissioning In Ogun-Ashiru


The industrialization drive of the Senator Ibikunle Amosun- led administration has continued to elicit interest from investors as 20 new industries are set for commissioning in addition to the existing 120 firms that have opened shop in the State.   This was according to the State Commissioner for Commerce and Industry, Otunba Bimbo Ashiru , while playing host to the State House of Assembly Committee ... Read More »

Amosun Boosts Agric Production With Another 10 Farm Machines

amosun commission bulldozar

Ogun State Governor, Senator Ibikunle Amosun has commissioned another set of bulldozers just as he has pledged that his administration would continue to increase the fleet at regular intervals. The commissioning of the new set of ten bulldozers brought the number of bulldozers purchased by the administration in recent times to 20. While commissioning the machines at the Arcade Ground, Oke-Mosan, Abeokuta, Amosun said the ... Read More »

NSE’s Market Capitalisation Plummets By N19 Billion


Transactions on the floor of the Nigerian Stock Exchange closed on a downward note yesterday, as major highly capitalized stocks depreciated in price causing market capitalization to plunge by N19 billion.Yesterday, the All -share index (ASI) shed 55.33 points, representing a decline of 0.15 per cent to close at 36,776.60 points from 36,831.93 posted on Monday.Similarly, the market capitalisation shed N19 billion, to close at ... Read More »

Sell Discos To New Investors, Elumelu Tells FG


The Chairman, United Bank for Africa Plc and Transnational Corporation Plc, Mr. Tony Elumelu, has asked the Federal Government to take another look at the power sector by wresting ownership from incompetent private operators and sell the firms to new owners who are capable of successfully running them. He made the call in Abuja on Tuesday at the ongoing 23rd Nigerian Economic Summit. Elumelu stated ... Read More »

Ministry Of Agric Embarks On Advocacy To Ensure Zero-Rejection Of Nigeria’s Exports


The Federal Ministry of Agriculture and Rural Development has embarked on aggressive nationwide advocacy to address the “culture of quality’’ in the agriculture sector. The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, made this known in Lagos on Friday at the Advocacy on Agricultural Quality Control and Standardisation in the South-West. The minister, who was represented by Dr Vincent Isegbe, the Coordinating Director, ... Read More »

NBS Reveals Oil Barrels Nigeria Sold In 53 Years, Amount Realized


The National Bureau of Statistics (NBS) has disclosed that a total of 32.70 billion barrels of crude oil valued at N118.49 trillion were produced between 1961 and 2014. The highest barrels of crude production was recorded in 2005 with 918.66 million barrels valued at N6.14 billion, while the lowest was recorded in 1961 with 16.80 million barrels valued at N18.73 million. The NBS in its ... Read More »

Buhari Nominates Aishah Ahmad As New CBN Deputy Governor


President Muhammadu Buhari has forwarded the name of Mrs Aishah Ahmad to the Senate for confirmation as Deputy Governor of the Central Bank of Nigeria, CBN. Mrs Ahmad is expected to replace former CBN Deputy Governor, who retired early in the year. According to statement by Buhari’s Special Adviser on Media and Publicity, Femi Adesina, the president presented Mrs Ahmad’s name to the senate in ... Read More »

FG Releases N100bn Sukuk Bond Proceeds For 25 Road Projects

The Federal Government has released the proceeds of the N100 billion Sukuk bond to 25 key economic road projects of the Federal Ministry of Power, Works and Housing across the country. Minister of Finance, Mrs. Kemi Adeosun, yesterday in Abuja, handed over the N100 billion proceeds cheque to the Minister of Power, Works and Housing, Mr. Babatunde Fashola.  Government had issued the debut Sovereign Sukuk ... Read More »

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