The Association of Master Bakers and Caterers of Nigeria (AMBCN) has called on the country’s federal government to ditch the 15% levy collection on wheat importation in light of the failure of the Cassava Bread Development Fund (CBDF). The government rolled out the tax in 2012 to discourage the importation of wheat and flour in […]
It was 2011 when Apple first passed ExxonMobil to become the biggest company on the market, and it’s barely been challenged since. Apple’s $833 billion market cap puts it well ahead of its nearest competitors. But a pack of richly valued technology companies is vying to give Apple a run for its money—and Amazon is […]
Nigerian media report that 162 babies and children have been rescued from three illegal orphanages – one of which is referred to as a “baby factory”. The precise nature of the so-called baby factory is not clear. The term is sometimes used to describe children’s homes where abandoned or orphaned babies are sold for profit. […]
The Nigerian Communications Commission (NCC) said it remitted N49.7 billion to the Federal Government in the first quarter of 2018. Mr Tony Ojobo, the NCC’s Director of Public Affairs said in a statement on Thursday that the remittance was in compliance with the Fiscal Responsibility Act of 2007 (FRA 2007). Ojobo said the figure represented […]
Nigerian Telecoms Company Globacom and China’s Huawei Technologies Co Ltd are laying an undersea cable that will provide high-speed internet to oil platforms in the country’s Niger Delta region. The 850 kilometre-long (528 miles) cable, connecting southwestern commercial capital Lagos with the southern Delta region, is expected to be completed by the first quarter of […]
Royal Dutch Shell on Thursday reported a 42 percent rise in first-quarter profit, its highest in over three years, boosted by higher oil prices and production. Expectations are high for Shell to continue to generate strong profits and cash flow after the Anglo-Dutch company beat larger rival Exxon Mobil on both fronts in 2017 thanks […]
Tender purchases took several West African oil cargoes, and some Angolan oil traded via spot, but the market was subdued overall. * Angola’s CLOV was expected to sail to Taiwan following its latest tender to buy oil, traders said. * Total had also sold spot cargoes of Pazflor and Dalia to other eastern buyers, traders […]
Prices for energy commodities like oil, natural gas and coal are expected to jump by a whopping 20 percent this year, the World Bank has said in a report. The increase in energy prices is expected to have adverse impact on India, given that the country is heavily dependent on import of major energy commodities. […]
The National Bureau of Statistics (NBS), says the Nigeria Immigration Service (NIS) generated more than N35.72 billion from passports applications in 2017. The NBS said this in a statistics on Immigration for 2017 posted on its website. According to the report, the figure is less than the N36.17 billion generated from passports application as local […]