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Business FoodFoodstuff Traders In Enugu Attribute Rise In Cost To Insecurity

Ije Ulasi (Regional Correspondent)July 28, 2021

ENUGU — The menace of suspected Fulani herdsmen at farm settlements in Enugu state has crippled rate of farm produce in the state resulting in the high cost of foodstuffs in the market. Speaking to WAPN correspondent, a vegetable seller in the popular New Market Enugu, who pleaded anonymity explained, “The cost of foodstuffs are very high now as opposed to what it used to be at this time of year, rainy season,” “This is...

Business Economy NewsNnewi is Competing Favourably With Cosmopolitan Cities- Madubuko

PilotnewsJuly 27, 2021

By Jennifer Egwuonye, Staff writer NNEWI — In a bid to create an enabling environment for economic, social, political, and other lucrative activities to thrive in Nnewi North Local Government Area, the transition chairman, Hon. Chukwudi Orizu and erudite academician, Professor Victor Madubuko had an excellent and meaningful tete-a-tete. This is in line with the visit of Prof. Madubuko, an adjunct professor at Yeshiva University, New York to harness the available resources in Nnewi...

Business MoneyBureau De Change Stopped from Operating Forex Sales as CBN Retains Lending Rate

Bada Yusuf Amoo (Correspondent)July 27, 2021

ABUJA — The operators of the Bureau De Change have been, with immediate effect, stopped from operating forex sales by the Central Bank of Nigeria (CBN). This was disclosed by the Governor of the CBN, Godwin Emefiele, after the two-day meeting of the Monetary Policy Committee (MPC) in Abuja on Tuesday. The Committee, at the end of the meeting, also retained the Monetary Policy Rate at 11.5 percent. The MPC also retained the Cash Reserve...

Business TransportationThe Annual Income of Lagos NURTW Can Service the Annual Budget of Nasarawa, Yobe, Niger Put Together – Report

Bada Yusuf Amoo (Correspondent)July 23, 2021

LAGOS — The Lagos State Chapter of the National Union of Road Transport Workers, NURTW, popularly referred to as Agberos generates about N123.08 billion annually. This was according to the statistical report by the International Centre for Investigative Report. The report also showed that the yearly income of the transport union could service the annual budget of Nasarawa, Niger, and Yobe states put together. Other sources of income excluded from the report were money levied...

Business Oil & GasGas Flaring: Nigeria Lost N53.26bn In Two Months

Hassan Umar Shallpella (Regional Correspondent)July 22, 2021

Nigeria lost an estimated N53.26bn in the first two months of this year as international oil companies and local players flared a total of 33.04 billion standard cubic feet of natural gas. The NNPC, in its latest monthly report, said out of the 206.05 billion scf produced in February, a total of 133.06 billion scf was commercialised, consisting of 40.15 billion scf and 92.91 billion scf for the domestic and export market respectively. The oil...

Business Law & Justice NigeriaLawyers Decries Non-Payment Of Judgment By Federal Government Agencies

Hassan Umar Shallpella (Regional Correspondent)July 21, 2021

ABUJA — Lawyers who have won various litigations against the federal government agencies have cried out over non-payment of judgment debts incurred by the government. In a statement issued by the director of Legal Services, Centre for Civic Education, Barrister Agomuo Chimaobi, on behalf of the lawyers, said the unpaid judgement debts were affecting them economically, having used their personal resources to prosecute some of the cases on behalf of their clients. Parts of the...

Business Oil & GasOPEC+ to Boost Oil Production

Beloved John (Staff Writer)July 18, 2021

The Organisation of Petroleum Exporting Countries and its allies known as OPEC+ have decided to boost oil production by 400,000 barrels per day. The group reached this agreement at the 19th OPEC and non-OPEC ministerial meeting on Sunday. In June, OPEC+ had agreed to increase output in July, in line with the group’s April decision to return 2.1 million barrels per day to the market between May and July. However, the deal which was meant...

BusinessCBN Restricts Sugar Importation to Dangote, Flour Mills, BUA

Bada Yusuf Amoo (Correspondent)July 17, 2021

The Central Bank of Nigeria (CBN) has announced that the importation of sugar into the country has been limited to three companies. They are Dangote Sugar Refinery Plc, BUA Sugar Refinery Limited, and Golden Sugar Company, which is owned by Flour Mills of Nigeria Plc. This was disclosed in a statement signed by the director of trade and exchange department of the CBN, Ozoemena Nnaji on Friday, noting that the three companies “have made reasonable...

Business Oil & GasSupreme Court Stops FG From Ceding Oil Wells to Imo Government

Bada Yusuf Amoo (Correspondent)July 14, 2021

The Supreme Court has granted an order of injunction stopping the Federal Government and its agencies from ceding oil wells at Akri and Mbede communities to Imo State Government. The order was granted on Wednesday to stop a purported implementation of the ceding of about 17 oil wells to Imo State, till a suit brought before the court by the Rivers State Government is determined. In the ruling, the Supreme Court restrained the Attorney General...

Business InfrastructureFEC Contracts N309bn Road Project to Dangote as Tax Credit

Beloved John (Staff Writer)July 14, 2021

ABUJA —The federal executive council (FEC) awarded Dangote Industries, a contract to construct five roads of 274.9 kilometres on Wednesday. The contract which cost a sum of N309,917,717,251.35 is to be advanced by the company as a tax credit. The minister of works and housing, Babatunde Fashola indicated this during a briefing with the state house correspondents. A tax credit is an incentive given to taxpayers, usually subtracted directly from taxes owed or expected to...

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Tinubu Appoints John Nwabueze as Nigeria’s First Tax Ombudsman

Court to Deliver Judgment in Nnamdi Kanu’s Terrorism Trial on November 20

Senate Directs NAFDAC to Enforce Nationwide Ban on Sachet Alcohol by December

Electric Vehicle Bill Scales Second Reading in Senate

Travel

Airline: Green Africa has launched zero naira fare campaign

Nigeria Ranks Sixth in 2022 Africa Visa Openness Index

Fuel scarcity: NNPC assures Nigerians of steady petrol supply

Second Niger Bridge Will Be Open Only For Other Vehicles Not Heavy Duty Trucks ― FRSC

Doing Business in United States is Not So Easy

Business News NigeriaHealth Workers Threaten To Shut Down Hospitals From Nov 14

Business News NigeriaDangote Refinery Targets World’s Largest Status with 1.4mb Daily Production

Business NewsNigeria’s capital market must adapt to remain relevant – SEC DG

Over 150 Persons Infected With Skin Disease In Adamawa

Imisi Crowned Winner of Big Brother Naija Season 10

‘The Grass Is Not Greener There’, Bright Chimezie Warns African Youths Eyeing the West

National Commission for Persons with Disabilities launches Compliance Certificates

Federal Govt Probes Strange Disease In Adamawa