$1trn economy: NACCIMA woos Chinese investors to boost industrialisation
By Yinka Kolawole The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has announced the third edition of its Business and Investment Forum in Guangzhou, China, as part of efforts to attract sustainable foreign direct investment (FDI) and support the Federal Government’s ambition of building a $1 trillion economy by 2030. The forum, […]
Endless subsidy payments: The dysfunctional refineries’ connection
The controversy on whether the country should continue or discontinue subsidy payments would continue to rage until Nigeria addresses the challenges confronting crude oil refining in the country. This is the view of stakeholders in the Nigerian petroleum industry, who have over the years, been divided on whether the Federal Government should fully deregulate the downstream petroleum sector, allowing market forces to determine the price of Premium Motor Spirit, PMS, also known as petrol; adopt partial deregulation; or continue to regulate the sector.
FG retains oil benchmark at $38, exchange rate at N197/US$
The Federal Government has retained major revenue assumptions in the reworked budget signed into law this morning by President Muhammadu Buhari.
Panel vets 40,000 applications for BoI’s N10bn YES loans
A seven-man panel has started screening business proposals from 40,000 candidates that applied for the Bank of Industry (BoI) N10 billion Youths Entrepreneurship Support (YES) programme.
N90bn unclaimed dividends: Shareholders task SEC on review of CAMA
Some shareholder groups yesterday in Lagos called for review of the Companies and Allied Matters Act (CAMA) in view of unclaimed dividends piling at the capital market.
Export rubber, cocoa, palm oil to us, EU tells Nigeria
The European Union (EU), has urged Nigeria Government to increase export of agricultural produces like rubber, cocoa and palm oil to the EU countries.
We have no link with Auctus integrated- Ayeni
Following persistent enquires from a section of the media, the Chairman of Skye Bank Plc. and NATCOM, Dr. Olatunde Ayeni has dispelled the speculation that he has interest in an Oil Company called, Auctus Integrated.
Femi Otedola loses $400m in 9 weeks
Nigerian billionaire Femi Otedola has lost more than $400 million of his personal fortune over the last 9 weeks as the stock price of Forte Oil, the Nigerian-listed energy behemoth he controls, shed off 43.5% in value within that period.
FG, NSIA to drive investment in health sector
The Federal Ministry of Health, yesterday, entered into an agreement with the Nigeria Sovereign Investment Authority, NSIA, managers of the nation’s sovereign wealth fund, to launch a comprehensive healthcare investment programme covering all six geo-political regions of the country that will also help stem the loss of over $1 billion per year spent by Nigerians on medical tourism.
Nigeria, Angola’s ratings down on Moody’s
The credit ratings of Nigeria and Angola, Africa’s two biggest oil producers, were among four countries downgraded by Moody’s Investors Service, citing the negative impact depressed oil prices have had on these governments’ balance sheets, liquidity and creditworthiness.
NYSC, CBN, BoI plan loan scheme for corps members — DG
The National Youths Service Corps (NYSC) says it is planning to introduce a loan package for corps members in view of the prevailing economic hardship in the country.
