By Boniface Okoro, Umuahia Abia State Government on Tuesday in Umuahia received a loan of N1 billion Commercial Agricultural Credit Scheme from the Central Bank of Nigeria (CBN). A terse statement issued by Enyinnaya Appolos, the Chief Press Secretary to Governor Ikpeazu Okezie, said the Abia State Commissioner for Agriculture, Mr. Uzo Azubuike, and his […]
With the series of attacks carried out by the Niger Delta militants in the last few weeks, the country’s crude oil production has dropped to about 1.1 million from the normal output level of 2.2 million barrels per day. Using the international benchmark of crude oil price of $50 per barrel, the Federal Government is […]
The Russian Ambassador to Nigeria, Mr Nikolay Udovichenko, said his country would support Nigeria in resuscitating the moribund Ajaokuta Steel Company to ensure rapid industrialisation of the country. Besides, he said that Russia was to assist Nigeria to overcome its current challenges in other sectors of the economy, especially oil and gas. Nikolay gave the […]
Africa’s communications giant MTN will soon listed on the Nigerian Stock Exchange (NSE) as part of a settlement with the Nigerian Communications Commission (NCC), which fined it a massive $5.2bn in October last year, for missing the deadline to disconnect 5.1m unregistered subscribers. The fine was later reduced to $3.9bn but MTN will only pay […]
The European Union has extended its ban on importation of dried beans from Nigeria by three years. Dr Vincent Isegbe, the Coordinating Director, Nigeria Agricultural Quarantine Service (NAQS) disclosed this Thursday in an interview with the News Agency of Nigeria (NAN). NAN recalls that EU banned importation of Nigeria’s dried beans in June 2015 on […]
Honda Motor Co. said on Thursday it was recalling around 784,000 vehicles in Japan, part of an expanded recall for potentially deadly Takata Corp. airbags. Honda said in Tokyo it was recalling models, including its Odyssey minivan, Fit subcompact model and Civic sedan with production dates ranging between 2003 and 2009 to replace passenger-side air […]
Dangote Group, Africa’s leading indigenous conglomerate, has become the latest entity to join the African Export-Import Bank (Afreximbank) as a shareholder. According to Afreximbank, Dangote Group completed the process of acquiring equity in the Bank on 30 May 2016 with a “substantial investment”. Welcoming the action by the Dangote Group, Dr. Benedict Oramah, President of […]
MTN South Sudan said cutting 54 jobs and making changes to the way it sells airtime will help it survive an economic crisis in the oil-producing nation caused by more than two years of civil war. The unit of Africa’s biggest mobile-phone company by sales said the reduction of the workforce to 82 people and […]
By Mayowa Okekale, Abuja A Bill for an Act to make provisions for the licensing, regulation and supervision of Micro Finance Business in Nigeria, has passed the second reading, at the Senate, and has been referred to the Senate Committee on Banking for further legislative activities. The Micro Finance Bill SB. 57, as sponsored by […]
THE Senate, on Tuesday, commenced investigation into Escravos Gas To Liquid (EGTL) project contract which was awarded at a sum of $2.9 billion and was allegedly increased to $10.03 billion by Chevron Nigeria Limited (CNL), leaving a difference of $7.4 billion Senate Committee on Gas, at a public hearing on Tuesday, queried reason why the […]