General News

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General News

Buhari mourns Olumakaiye, Anglican Archbishop of Lagos

Lagos, Dec.5, 2022 – President Muhammadu Buhari has condoled with the Olumakaiye family, the Anglican Communion and Christendom over the passing of The Most Rev. Dr Humphrey Olumakaiye, the Archbishop of Lagos, aged 53. The President, in a statement by his media aide, Femi Adesina, lauded Olumakaiye’s commitment to the things of God, and work of the Kingdom, having been admitted into Immanuel College of Theology, Ibadan in 1988, where he obtained Diploma in Religious Studies and Diploma in Theology in 1991 with distinctions. Between 1991 and 1993, he obtained …

General News Politics

FG refunds N625.43bn to oil producing states

Abuja, Dec. 2, 2022 – Nine oil-producing states in the country received N625.43 billion made up of 13 percent oil derivation, subsidy and SURE-P refunds from the Federation Account in two years. Garba Shehu, the Senior Special Assistant to the President on Media and Publicity, said this today in a statement in Abuja. He listed the nine beneficiary states as Abia, Akwa-Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo and Rivers. The statement said that N1.1 trillion was still outstanding. Sheu promised that the Buhari administration would continue to render …

General News

NANS declares nationwide protest over student’s tweet

Lagos, Dec. 2, 2022 – The National Association of Nigerian Students (NAN) has declared nationwide protest to demand the release of Aminu Mohammed, a student of a federal university in Dutse, Jigawa State, who was arrested and sent to prison over a tweet on Aisha Buhari, wife of the President Muhammadu Buhari. NANS President, Usman Barambu,  said in a statement on Thursday that the protest, which would commence on Monday, would be indefinite until Mohammed regained freedom. NANS had earlier apologised to the wife of the president, while also calling for …

General News Politics

Budget Padding: “we are waiting for formal response from ministry of finance” – Farouq

Abuja, Dec. 2, 2022 – Hajia Sadiya Farouq, the Minister of Humanitarian Affairs, says her ministry is still waiting for a formal response from  the Ministry of Finance on the N206 billion meant for security weapons found in her ministry’s budget. She said had written to seek clarification on the issue and was waiting for response from the ministry of finance, budget and national planning. Farouq, who appeared before the Senate Committee on Special Duties on Thursday, said she did not allege that the finance minister padded the budget, but she …

General News Investment Oil and Gas

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 …

General News Manufacturing/Industry

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 …

General News Politics

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 …

General News Politics Uncategorized

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. …

Business Planning General News

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 …

Business Planning General News

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 …