Economy
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NCC disowns circulating ‘Certificate of site ownership for mass transmission antenna’
The Nigerian Communications Commission (NCC) has warned the public over a fraudulent letter, titled: “Certificate of Site Ownership”, for clearance of “Mast Transmission Antenna”, being circulated by some unidentifiable individuals, and purporting that the letter was issued by the Commission. The letter claimed that the Commission had conducted an inspection on a certain site which is for “9-Mobile Telecommunications Company…
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Dangote’s 650,000bpd refinery 97% completed, says NMDPRA
…Naira will become stronger once Refinery starts production The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has disclosed that the Dangote Petroleum Refinery, upon which the hope of the nation rests for fuel sufficiency is now 97 percent completed. The agency has also commended the work done on the project. The refinery, with 650,000 barrels per-day installed capacity is…
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FG should sell off oil and gas sector – El-Rufai
Kaduna State Governor, Nasir el-Rufai says the Federal Government should hands off the oil and gas sector and sell it. El-Rufai who was speaking at KADINVEST, an economic summit in Kaduna, on Thursday, said since the sector has failed to bring any money to the coffers of the government since the beginning of the year, there was no point holding…
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SEC urges investors to explore opportunities in capital market
Investors in Nigeria have been urged to explore the various opportunities available in the capital market in a bid to grow their businesses, create wealth and improve their standards of living. Director General of Securities and Exchange Commission (SEC), Mr. Lamido Yuguda stated this at the Maiden Gombe State Investment Summit with the theme “Industrialisation: The Pathway to Innovation, Transformation,…
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Buhari rejects Customs Act, return bill to National Assembly
President Muhammadu Buhari has returned the Customs and Excise Management Act amendment bill to the National Assembly after refusing to sign the bill into law. The President returned the bill raising observations on about 24 clauses and the schedules in the bill as passed by both chambers of the National Assembly. The President said he disagreed with Clauses 4(b), 7(2),…
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Serena Williams’s firm invests in Nigerian data provider Stears
Serena Williams’ venture capital firm is backing Nigerian data and insights firm Stears Inc. in a $3.3 million seed round led by MaC Venture Capital. The investment is one of just a handful in Africa for Serena Ventures, whose founder announced that she would turn more of her attention to investing following her retirement from tennis after the US Open…
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Only vision can limit Nigeria from becoming digital economy world leaders – Osinbajo
Vice President Yemi Osinbajo, SAN, says that Nigeria as a country has the requisite talents, creativity and acumen to become a world leader in the digital economy.He stated this on Monday at this year’s Nigeria Digital Economy Summit (NDES) with the theme “Web 3.0, Blockchain & DeFi: Impact on Africa’s Digital Economy.”He observed that with the right approach and policy,…
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SEC Nigeria, Ghana commit to strategic co-operation, market development
In a bid to encourage market integration and provide better opportunities for economic prosperity of Nigeria and Ghana, the Securities and Exchange Commissions (SEC) of both countries have signed a renewed Memorandum of Understanding (MOU). Speaking during the signing ceremony in Accra weekend, Director General of the SEC Nigeria, Mr. Lamido Yuguda recalled that both countries had enjoyed a long…
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Ex-NIPOST boss denies fraud allegations
Former Postmaster General of the Federation, Dr Ismail Adewusi had denied fraud allegations against him. Adewusi was recently suspended and replaced as Postmaster General by Minister of Communications and Digital Economy, Isa Pantami. The former NIPOST boss in a statement he released on Monday which was made available to WesternPost said while he wouldn’t comment on his removal from office,…
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Unprecedented shocks rattle South Asia, dampening growth, says World Bank
Beset with Sri Lanka’s economic crisis, Pakistan’s catastrophic floods, a global slowdown, and impacts of the war in Ukraine, South Asia faces an unprecedented combination of shocks on top of the lingering scars of the COVID-19 pandemic. Growth in the region is dampening, says the World Bank in its twice-a-year update, underscoring the need for countries to build resilience. Released…
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