FG inaugurates IT projects to boost skills, digital economy
[files] Minister of Communication and Digital Economy, Isa Ali Pantami. Photo; TWITTER/ISAPANTAMI The Federal Government has inaugurated 11 projects in different parts of the country aimed at boosting digital economy and digital...
By utaka1596 August 13, 2020 771
Bellwethers push investors’ fortunes by N134 billion
NSE. Photo; govandbusinessjournal The Nigerian equities market closed upbeat yesterday, occasioned by gains in most blue-chip stocks, as investors gained N134 billion. Yesterday, the All Share Index (ASI) increased by 257.78...
By utaka1596 August 13, 2020 652
Pound lower as UK mired in record recession
The British pound fell against the dollar and euro on Wednesday as official data showed Britain’s coronavirus-ravaged economy suffering its deepest recession on record. PHOTO: Getty images The British pound fell against the dollar and...
By utaka1596 August 12, 2020 547
Dollar holds firm as U.S. bond yields jump
FILE PHOTO: Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking The dollar inched ahead on Wednesday, as a jump in U.S. yields pushed it higher...
By utaka1596 August 12, 2020 642
Oil rises after bigger-than-expected drop in inventories
FILE PHOTO: Pump jacks operate at sunset in Midland, Texas U.S. February 11, 2019. REUTERS/Nick Oxford Oil prices moved higher on Wednesday after an industry report showed that U.S. inventories of crude fell more than analysts expected,...
By utaka1596 August 12, 2020 583
Nigeria to ban single-hull tanker by December
A tanker vessel The Federal Government has unveiled plans to stop the use of single-hull tankers in Nigeria by December 31st. Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Bashir Jamoh, who...
By utaka1596 August 12, 2020 661
How assent to CAMA will spur economic development
Stakeholders have said President Muhammadu Buhari’s assent to the Companies and Allied Matters Bill 2020, consequently introducing the Companies and Allied Matters Act (CAMA) 2020, to replace the 30-year old CAMA 1990, will spur economic...
By utaka1596 August 12, 2020 667
ICELLPOWER unveil innovative tall tubular batteries
Foremost renewable energy manufacturer, ICELLPOWER, has launched its tall tubular battery into the Nigerian market. At the launch in Lagos at its Corporate Head Office, the Business Manager, Tunde Towolawi, said in the quest to meet the...
By utaka1596 August 12, 2020 665
Pandemic stalling Ajaokuta Steel revival efforts, says FG
Although the Senate last month, expressed its readiness to work with the executive arm in reviving the Ajaokuta Steel Company (ASC) project, the Federal Government has said that global travel restriction occasioned by the COVID-19...
By utaka1596 August 11, 2020 830
Aviation workers demand details of $500m Chinese terminal
. Mobilise protest against airport concession plan A coalition of aviation workers unions have requested for the details of a $500 million worth of Chinese loan deal to build four terminals, especially the add-on plan to concession...
By utaka1596 August 11, 2020 758
World Bank approves fresh $114.28m for sub-national fight against COVID-19
The World Bank Board of Directors has approved a $114.28 million funding to help Nigeria prevent, detect, and respond to the threat posed by the COVID-19 pandemic, with a specific focus on state-level responses. The facilities are a...
By utaka1596 August 11, 2020 711
Group empowers 50,723 with maternal, child health sensitisation
Lift Above Poverty Organisation (LAPO) improved the health and well-being of 50,723 women and children in the first half of 2020. Acting Executive Director, Dr Ayobami Honestus Obadiora disclosed this at a strategic review meeting with senior...
By utaka1596 August 11, 2020 682
Telecoms operators want 30% of CBN N15tr infrastructure funding
. NITDA claims ICT key to post-Covid-19 recovery Telecommunications operators have called on the Central Bank of Nigeria (CBN), to channel 30 per cent of the N15 trillion consortium it announced recently to boost infrastructure...
By utaka1596 August 11, 2020 669
How to raise stock market capitalisation through multinationals
Since the 2007-2008 global financial crises, there have been growing agitations for multinational companies operating in Nigeria to list on the capital market, to create employment, deepen the market and make capital available for investors....
By utaka1596 August 10, 2020 777
High-cap stocks, anticipation of dividends push NSE index by 1.41%
Demand for undervalued high capital stocks, and anticipations of dividends payment by some quoted companies propelled five consecutive days of rally at the equities sector of the Nigerian Stock Exchange (NSE), causing investors’ fortunes to rise,...
By utaka1596 August 10, 2020 813
COVID-19, VAT increase, naira devaluation spur rise in prices of consumables
The negative impact of Coronavirus pandemic has not only been felt across sectors in Nigeria, the consequence of the lockdown on the economy is disheartening. Many businesses, especially during the lockdown were not functional, while...
By utaka1596 August 9, 2020 796
Consumer Commission probes pharmacies for hydroxychloroquine price hike
The Federal Competition and Consumer Protection Commission (FCCPC), in line with its mandate, has commenced a probe of excessive and unconscionable pricing of potentially vital medication that is perceived or presented as efficacious therapy in...
By utaka1596 August 7, 2020 805
Group seeks disbandment of proposed transmission charge
The Nigerian Electricity Regulatory Commission (NERC’s) plan to allow the electricity distribution and trading licensees to introduce competition transition charge by has elicited public criticisms. The Competition Transition...
By utaka1596 August 7, 2020 802
Taiwan trade council organises three-day virtual annual trade mission to Nigeria
The Taiwan External Trade Development Council (TAITRA) is set to organize it’s annual Trade Mission to Nigeria from Tuesday 18th August to Thursday, 20th August. The virtual event is scheduled to take place between 9am-12pm Nigerian...
By utaka1596 August 6, 2020 686
IMF lowers 2020 oil demand by 8 per cent amid high uncertainties
The coronavirus crisis will see global oil demand dropping by around eight percent this year, compared to last year, the International Monetary Fund (IMF), has said in a new report. This year, oil prices will be 41 percent lower than in...
By utaka1596 August 6, 2020 692
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