Economy
-
Solaris, Knownow, Specxs win NCC’s talent hunt
Three companies, out of 81 companies that contested at the Nigerian Communication Commission’s inspired technology innovation talent hunt competition, shared the N30 million prize money equally. Nine other shortlisted companies went home with N500,000 consolation prizes each. Solaris GreenTech Hub, Knownow Africa Limited and Specxs Care Limited, came bright at the 2023 NCC’s Annual Hackathon Competition, adjudged by an independent…
Read More » -
Mining sector: Focusing on extraction alone is not enough, German Chancellor, Olaf Scholz, tells Tinubu
Germany Chancellor, Olaf Scholz, said on Sunday that the traditional method of focusing on extraction in the Nigerian mineral resources sector is not enough. Scholz made the remarks while speaking to reporters at the State House in Abuja before a closed-door meeting with President Bola Tinubu. WesternPost reported that Scholz arrived at the Presidential Villa in Abuja at about 3:39…
Read More » -
PHOTO NEWS: Tinubu, visiting German Chancellor co-chair business roundtable
President Bola Ahmed Tinubu and German Chancellor Olaf Scholz co-chaired the Government to Business Roundtable comprising of ministers from Nigeria and members of the Chancellor’s delegation to Nigeria from Germany at the State House, Abuja.
Read More » -
At 40% YtD decline, Naira is Sub-Saharan Africa’s worst-performing currency
Depreciating by 40 per cent Year-till-Date (YtD) at the foreign exchange market, the Nigerian Naira is the worst-performing currency in Sub-Saharan Africa in 2023, according to World Bank’s latest report. The World Bank in its Africa Pulse, a bi-annual publication of the office of the Chief Economist of the World Bank Africa Region provides an analysis of the issues shaping…
Read More » -
FG announces VAT waiver on CNG bus purchases, says seven conversion centres available in Nigeria
The Federal Government has announced that it will waive the Value Added Tax on Compressed Natural Gas (CNG) on the purchases of buses and will be seeking duty waivers for the value-chain. The Chairman of the Presidential CNG Initiative Steering Committee, Zacch Adedeji, made the announcement on Friday at the state house banquet hall in Abuja. The event was held…
Read More » -
Average retail price for refilling 5kg cylinder of gas rose by 1.81%
The average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas or cooking gas increased by 1.81per cent on a month-on-month basis from N4,115.32 recorded in August 2023 to N4,189.96 in September 2023. This is disclosed by the National Bureau of Statistics (NBS) in its Liquefied Petroleum Gas (Cooking Gas) Price Watch report for September 2023. According to…
Read More » -
Financial System Stability: NDIC lauds judiciary on better understanding of deposit insurance practice
The Nigeria Deposit Insurance Corporation (NDIC) has commended the judiciary on its better understanding of the deposit insurance practice towards promoting stability of the nation’s financial system. NDIC Managing Director/Chief Executive, Mr. Bello Hassan gave the commendation in his welcome address at the 2023 Sensitization Seminar, organized by the Corporation in partnership with the National Judicial Institute (NJI) for Judges…
Read More » -
We won’t be disappointed if Nigeria Air is cancelled, says Ethiopian Airlines CEO
Ethiopian Airlines has said it will not be disappointed if Nigeria Air, the country’s national carrier project, is cancelled. The CEO of Ethiopian Airlines, Mesfin Tasew, said this to reporters on the sidelines of a conference in Addis Ababa, Ethiopia. He said Ethiopian Airlines had no plans or intentions to establish an airline in Nigeria, and that it was only…
Read More » -
New roadmap will transform Nigeria’s mining industry – Alake
Nigeria’s Minister of Solid Minerals Development Dr Oladele Alake has said imminent reforms in the mining industry will separate genuine businessmen interested in longterm and value-added investment from adventurers carting away raw minerals. Addressing the Mining Ministers Forum at the China Mining Week 2023 holding in Tianji, China on Thursday, the minister said the new mineral development roadmap of the…
Read More » -
Shettima showcases Nigeria’s agribusiness roadmap to investors at Borlaug Dialogue
The Vice President, Senator Kashim Shettima, has wooed foreign investors to invest in Nigeria’s agricultural sector, assuring them that the country is ready for agribusiness. He said Nigeria remained the best place to invest given its 70 million hectares of underutilised arable land, which, according to him, is 75% of the country’s total land mass.Senator Shettima, who stated this on…
Read More »
