Latest Articles
Nigeria’s Export processing zones attracted $47bn investments in 30 years – official
Abuja, Dec.1, 2022 – Export processing zones in Nigeria have attracted $467 billion worth of investments over the past 30 years. Prof. Adesoji Adesugba, the Managing Director of Nigeria Export Processing Zones Authority (NEPZA) and Sen. Tijjani Kaura, the Chief Executive of Oil and Gas Free Zones Authority (OGFZA), said this at the 30th anniversary of free trade zones scheme in Nigeria on Wednesday in Abuja. Adesugba said trade zones being regulated by NEPZA attracted over 30 billion dollars investments since inception of the scheme in 1992, while Kaura …
Research: Presidential panel selects 25 firms for $10.5m Nigeria/Czech projects
Abuja, Dec.1, 2022 – Twenty five firms have been shortlisted the Presidential Implementation Committee (PIC) on Technology Transfer/Information for the over $10.5 million research projects exchange between Nigeria and Czech Republic. President Muhammadu Buhari has approved for the National Agency for Science and Engineering Infrastructure (NASENI to invest N2 billion (about $5.7 million) in profitable manufacturing and commercialisation of successful research products. NASENI will also serve as a partner with any willing company on such products. The agency’s Executive Vice Chairman, Prof Mohammad Sani Haruna, said this during while results …
Some public servants earn bigger salaries than President Buhari – RMAFC
Lagos, Dec. 1, 2022 – Mohammed Sheu, the Chairman of Revenue Mobilisation and Fiscal Commission (RMAFC), says some public servants earn higher salaries than President Mohammadu Buhari. Sheu said this while speaking on Thursday morning on Channels Television. “The salary of Mr President is not up to N1,300,000 a month…the allowances of the President are factored into that salary. “In 2008, that was considered a big money but now, there are people in the private sector and public sector that earn twice, three times, four times.” Shehu said some staff …
N500bn Development Fund: Senate committee threatens CBN governor, others
Abuja, Dec. 1, 2022 – The Senate Ad-hoc Committee on uneven disbursement of N500 billion Development Fund by Development Bank of Nigeria on Wednesday threatened to arrest CBN Governor Godwin Emefiele and three others for failing to honour its invitation. The three others are Managing Director of Bank of Industry, Olukayode Pitan, Managing Director of Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Aliyu Abdulhamid; and Director General of Small and Medium Enterprises Development Agency of Nigeria ( SMEDAN), Olawale Fasanya. Senator Sani Musa (APC Niger East), the Chairman …
NPA to partner security agencies in protecting ports
Lagos, Nov. 30, 2022 – Mr Mohammed Bello-Koko, the Managing Director of Nigerian Ports Authority (NPA), has promised to partner Nigerian security agencies in protecting lives and property at Nigerian ports. A statement by the NPA in Lagos on Wednesday quoted Bello-Koko as saying this when he received the General Officer Commanding 81 Division of the Nigerian Army, Maj.-Gen. Obinna Ajunwa, in his office in Lagos. Bello-Koko said that the authority would collaborate with stakeholders and the nation’s security apparatus, especially the military high command, to protect lives and property …
I will embark on $10bn empowerment scheme for youths – Atiku
Akure, Nov. 30, 2022 – Alhaji Atiku Abubakar, the Presidential Candidate of Peoples Democratic Party (PDP), has promised to embark on a $10 billion for youth empowerment scheme if voted into power. Atiku made the promise at a rally in Akure on Wednesday to kick-start his campaign in the South-West, saying that the scheme had already been captured in his policy document. “We would set aside enough money to take care of our youths. We would set aside $10 billion as a fund to empower our young women and men. …
Sanwo-Olu commends small-scale businesses for resilience
Lagos, Nov. 30, 2022 – The Lagos State Governor, Mr Babajide Sanwo-Olu, has commended the resilience of small and medium scale entrepreneurs despite the harsh business environment Sanwo-Olu, who was represented by the state Commissioner for Commerce, Industry and Co-operatives, Mrs Lola Akande, gave the commendation at the closing ceremony of the 2022 Lagos International Trade Fair held yesterday. He commended the exceptional will-power of participants, especially the small and medium entrepreneurs, whose level of participation at the annual exhibition had remained very strong.” Sanwo-Olu said that the realities of the …
Economists urge new pricing model for petrol
Lagos, Nov. 30, 2022 – Proshare, a research and information service company in Lagos, has called for fair play and market efficiency in the downstream sector of Nigeria’s oil and gas industry. It said that the consensus of its analysts is that a new pricing model should be introduced in the sector to enthrone fairness among operators In its “Analysts Notes” released in Lagos today, the company said experts were calling for the discontinuation of the preferential treatment being given to NNPC in accessing foreign exchange at the official window. …
Stakeholders commend NIMASA boss for achievements in transport sector
Lagos, Nov. 30, 2022 – Dr Bashir Jamoh, the Director General of Nigerian Maritime Administration and Safety Agency (NIMASA), has received accolades for transforming and promoting the transport sector as President of the Chartered Institute of Transport Administration of Nigeria (CIoTA). A statement by NIMASA in Lagos said that stakeholders showered accolades on Jamoh for his achievements in the sector during the 4th National Transport Summit of the Institute in Abuja on Tuesday. “The Nigerian Army and other security agencies pledged their support to the growth and improvement of the country’s …
Research coy predicts higher 2.7% GDP growth for Nigeria in 2022
Lagos, Nov. 30, 2022 – United Capital Research, a Nigerian research firm, has predicted a 2.7 GDP growth rate for Nigeria in 2022. The research firm gave this projection in its economic outlook for the year, a copy of which was made available to the Global Business News in Lagos on Wednesday. It also predicted that the last quarter of 2022 will record a GDP growth rate of 2.0 percent, describing the 2.3 percent real GDP recorded in the third quarter of 2022 as the eighth consecutive high GDP growth rate …