FG to Encourage More Private/Public Partnership to Boost Domestic Gas – Sylva

BusinessNewsOil & GasFG to Encourage More Private/Public Partnership to Boost Domestic Gas – Sylva

PilotnewsAugust 7, 2020

The Minister of State for Petroleum Resources, Timipre Sylva, says more private and public sector collaboration is needed to boost domestic gas utilisation. The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said that more private and public sector collaboration will be encouraged as Nigeria steps up effort to realise its target of boosting domestic gas utilisation. Sylva made this known on the Twitter account of the Nigerian National Petroleum Corporation (NNPC) on Friday while...

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Lagos Abolishes 2018 Land Use Law

InvestingNewsPovertyLagos Abolishes 2018 Land Use Law

Adeola Oladipupo (Correspondent)August 5, 2020

…Pardons payment defaulters from 2017 to 2019 The Lagos State Government, today, made several changes to the 2018 Land Use Law which generated lots of controversies in the last administration. The government cancelled 2018 Land Use Charge Law, reverted to pre-2018 land use charges but maintained the 2018 valuation, according to the Nation In a press conference, the Commissioner for Finance, Dr Rabiu Olowo said that defaulters of land use payment from 2017 to 2019...

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Falana, Others Demand Justice for UI Student Who Died at a Soap-Making Factory

BusinessLaw & JusticeNewsFalana, Others Demand Justice for UI Student Who Died at a Soap-Making Factory

Adeola Oladipupo (Correspondent)August 5, 2020

Alliance on Surviving COVID-19 and Beyond, a group led by human rights lawyer, Femi Falana, has partnered with the Oyo State Chapter of the International Lawyers Assisting Workers, to demand justice for Richard Gbadebo, a 300 level student of the University of Ibadan who died at a soap making factory on July 28. Gbadebo, 21, was said to be on a night shift at a factory owned by Henkel Nigeria Limited, manufacturers of WAW detergent...

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Probing China’s Loan is Making China Apprehensive, Thinking We Don’t Want to Pay – FG

InfrastructureMoneyNewsProbing China’s Loan is Making China Apprehensive, Thinking We Don’t Want to Pay – FG

Bada Yusuf Amoo (Correspondent)August 5, 2020

The Federal Government of Nigeria, on Tuesday, discloses that the Chinese government is becoming apprehensive about releasing loans to Nigeria following the National Assembly probe of the term of the agreement. The executive arm of the Nigerian government insisted that no nation could recolonize Nigeria as a result of Nigeria’s unpaid debt while cautioning the legislature not to hamper its ability to access international funds. This is explained by the Minister of Transportation, Mr. Chibuike...

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Why Shoprite is Planning to End Operation In Nigeria

BusinessNewsNigeriaWhy Shoprite is Planning to End Operation In Nigeria

Beloved John (Staff Writer)August 3, 2020

Shoprite, a South Africa retail giant has announced the commencement of a formal process to end its operation in Nigeria. Shoprite Holdings Limited disclosed this on Monday, stating that its operational and voluntary trading update for the year ended on June 28, 2020. The multi-national retail group, which announced a 6.4 per cent increase (R156.9billion) in total sales of merchandise for the outgoing year despite the challenges posed by the COVID-19 pandemic said it took...

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Shoprite to Leave Nigeria After 15 Years of Operation – Official

BusinessNewsShoprite to Leave Nigeria After 15 Years of Operation – Official

Bada Yusuf Amoo (Correspondent)August 3, 2020

South African Company, Shoprite Holdings Limited, has said it will auction off its outlets in Nigeria. The Cape Town-based retail company with presence in most Nigerian cities considered the sales of all his major stores following the effect of COVID-19 pandemic which has disrupted businesses globally. The decision of the megastore company to close down after 15 years it opened its first store in Lagos in December 2015 is contained in a trading statement for...

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Amaechi Speaks on China Loan, Says Nigeria Will Pay Back in 20 years

EconomyNewsAmaechi Speaks on China Loan, Says Nigeria Will Pay Back in 20 years

Beloved John (Staff Writer)August 2, 2020

The Minister of Transportation, Rotimi Amaechi, on Saturday said the government has the capability to pay back the Chinese loans collected for the construction of rail projects within the stipulated period of 20 years. In a statement, Amaechi said that China was the only country giving out loans with a low-interest rate of 2.8 per cent. He stated that no country in the world would give out a loan without a guarantee to pay back...

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The Only Thing Pharmaceutical Companies Don’t Import is Water — NAFDAC DG

BusinessNewsNigeriaThe Only Thing Pharmaceutical Companies Don’t Import is Water — NAFDAC DG

Beloved John (Staff Writer)August 1, 2020

The Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), Mojisola Adeyeye has spoken on the rate and scope importation by pharmaceutical companies, saying the only thing not imported is water. The DG who appeared as a guest on Sunrise Daily, a programme on Channels Television, stated that more efforts should be directed towards local production. Highlighting the effects of importation and how it has affected the availability of medical supplies...

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Why Nigeria Should Take Decisive Method in Managing Public Assets – Olusegun Aganga

EconomyNewsWhy Nigeria Should Take Decisive Method in Managing Public Assets – Olusegun Aganga

Bada Yusuf Amoo (Correspondent)August 1, 2020

The former Nigerian Finance Minister, Olusegun Aganga, has said there are many assets belonging to Nigeria ministries, agencies and departments that are not managed actively. Aganga disclosed this at a webinar organized by EY Nigeria Alumni on Thursday evening. He adds that the country needs to take decisive actions in growing and diversifying its economy. He says, “As a country, we do have so many assets held by different MDAs that are not actively managed....

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Nigeria: Two Problems and a Lesson on How to Not Run a Country

EconomyNewsSpecial ReportNigeria: Two Problems and a Lesson on How to Not Run a Country

Adeola Oladipupo (Correspondent)August 1, 2020

Five months into the pandemic, Nigeria is learning the hard way that some of its unresolved problems would make recovery from COVID-19 slow and difficult. Many sectors in Nigeria have grappled with poor infrastructure for many years. A problem that has rendered many of them ineffective. Education and health are two of the most wrenched sectors in Nigeria in the wake of COVID-19. Although many had thought that the virus would be confined to Asia...

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