The 210,000-barrel-per-day Port-Harcourt refinery may finally commence operations by the end of July after several postponements. The new date was disclosed on Monday by the National Public Relations Officer, Independent Marketers Association of Nigeria, Chief Ukadike Chinedu. He stated that the development would stimulate economic activities, reduce the price of petroleum products and ensure adequate […]
The Manufacturers Association of Nigeria (MAN) has warned that the impact of multiplicity of taxes imposed on the manufacturing sector in the country may hinder the sector from maximizing the potential gains in the African Continental Free Trade Area (AfCFTA). Director General of MAN, Segun Ajayi-Kadir, stated this in a paper he presented at the just […]
Stock market analysts have indicated that trading this week would be driven by the outcome of the anticipated Monetary Policy Committee, MPC, meeting scheduled for today and tomorrow as well as investors’ continuing reaction to the inflation figures announced last week by the National Bureau of Statistics, NBS. This comes at the backdrop of the sustained […]
Nigeria has become the top investment destination for Indonesia in Africa, overtaking South Africa, with a trade balance in excess of $4.7 billion in 2022. President of NICCI, Mr. Ishmael Balogun, stated this at a press conference, in Lagos over the weekend, to announce the upcoming 3rd edition of the Nigerian-Indonesian Investment and Trade Forum (NIITF) […]
Eight commercial banks paid N200.19 billion as income tax in the first quarter of 2024 (Q1’24). Data from the Q1’24 Financial Statements of the banks showed that the N200.19 billion represents 203.7 percent year-on-year increase (YoY) when compared to N65.91 billion tax they paid in Q1’23. The banks are Guaranty Trust Bank, GTB (N52.2 billion) , […]
The Aig-Imoukhuede Foundation and Access Bank Group have pledged $300 million in charitable commitments to transform the economic landscape of Africa over the next 20 years. Under the arrangement, Access Bank has committed $200 million and Aig-Imoukhuede Foundation committed $100 million to fund African government initiatives with a proven potential to transform national economic performance. The […]
Federal Competition and Consumer Protection Commission (FCCPC), on Thursday, did not oppose the recent price hike on tariffs and cost of products and services by MultiChoice Nigeria Limited, the owners of Dstv and Gotv. FCCPC made this known through its lawyer, Nikiomari Abeke, before the three-member panel of Competition and Consumer Protection Tribunal (CCPT) sitting […]
The deployment of dispensing pumps for Compressed Natural Gas, CNG, have risen by 233 per cent in six months since November last year. Coordinator and Chief Executive, Presidential Initiative on CNG, Pi-CNG, Mr. Michael Oluwagbemi, disclosed this while addressing journalists during a tour of the Mikano International CNG based vehicle assembly plant in Ogun State. Meanwhile, Mikano has […]
The Nigerian Communication Commission has announced a temporary suspension of new licence issuance to operators in three categories. The categories are Mobile Virtual Network Operator Licence, Interconnect Exchange Licence and Value Added Service Aggregator Licence. A virtual operator is a company that does not own a mobile spectrum licence but sells mobile services under its […]
IN a bid to further secure its area of operations, Nigerdock has signed an agreement with G4S, a global integrated security company, to improve, manage, and oversee the security architecture across Snake Island Port, SIP, and Snake Island Integrated Free Zone (SIIFZ). The engagement of G4S follows a robust security review by Nigerdock to significantly enhance security within […]
