Economy
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Lagos-bound train breaks down in ‘forest’
A Twitter user, @isaiahobaare says his Lagos-bound train from Ibadan was stuck in the forest on Thursday after the train broke down. According to Obadare, the train was said to have run out of fuel. “Boarded Train from Ibadan to Lagos. We’re still stuck in the forest with unknown Chinese men. They said fuel finished. What a beautiful country, Nigeria,”…
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Malnutrition: Dangote upholds late brother’s wish by commissioning therapeutic Food factory
President of Dangote Group, Aliko Dangote, on Wednesday, promised to enter into agreement with governments, local governments and local producers of Nutri-K’s Ready-to-Use Therapeutic Food (RUTF) to guarantee adequate supply directly to primary healthcare centres that treat severe and acute malnutrition(SAM) on sustainable bases. He stated this at the inauguration of a factory meant to produce the RUTF in Kano. Dangote recalled…
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FIRS, MultiChoice Nigeria agree to resolve tax dispute
The Federal Inland Revenue Service and MultiChoice have agreed to resolve their tax disputes out of court. This was disclosed in a joint statement by the FIRS and MultiChoice, which was made available to Western Post on Wednesday. “By the broad terms of the agreement, MultiChoice shall withdraw all pending lawsuits towards an amicable resolution of the dispute. Also, as…
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We didn’t reduce load allocation to DISC0s – TCN
The Transmission Company of Nigeria has denied reports that it reduced the load allocation to distribution companies in the country. In a statement by the GM Public Affairs, Ndidi Mbah, the TCN said the current load shedding being experienced nationwide is as a result of very low power generation by the Generation Companies (GENCOs) for TCN to wheel through the…
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Air Peace, Arik, four other airlines sign alliance
Six Nigerian airlines on Tuesday signed an alliance tagged ‘Spring Alliance’ to mutually support each other’s operations. The airlines which signed the ‘Spring Alliance’ are Air Peace, Azman Air, United Nigeria Airline, Arik Air, Aero Contractors and Max Air. Air Peace Chairman Allen Onyema who is also the Vice president of the Airline Operators of Nigeria (AON), said the alliance…
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Equities market depreciates by 0.23%
Trading activities on the equities market of the Nigerian Exchange Limited (NGX) on Tuesday closed on a negative note, down by 0.23 per cent to extend the bearish trend to five consecutive trading days The All-Share Index declined by 108.26 per cent, representing a decrease of 0.23 per cent, to close at 47,154.35 points. Similarly, the overall market capitalisation value…
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Oil will hit $300pb if West bans Russia
A top Russian official has warned that a Western ban on Russian oil imports could result in oil prices more than doubling to about $300 per barrel and prompt the closure of the main gas pipeline from Russia to Germany. In a statement on state television on Monday, Russian Deputy Prime Minister Alexander Novak said it was “absolutely clear that…
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Gender equality key to sustainable future, says SEC DG
The year 2022 has been described as pivotal for achieving gender equality in the context of climate change and environmental and disaster risk reduction, which are some of the greatest global challenges of the twenty-first century as without gender equality today, a sustainable future, and an equal future remains beyond reach. Director-General of the Securities and Exchange Commission(SEC), Mr. Lamido…
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FIRS gives Nigerians one-month window to pay foreign tax liabilities in Naira
The Federal Inland Revenue Service has given a one-month window to Nigerians to settle their foreign tax liabilities in Naira. In a statement signed by Special Assistant to the Executive Chairman, FIRS on Media & Communications, Johannes Wojuola, the window period runs from March 1 to March 30. “In view of the number of requests, enquiries and the challenges encountered…
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FG’s Sukuk Bond issuances to take away deposits from bank, non-bank, say analysts
A group of analysts at Guaranty Trust Holding Company Plc (GTCO) said 2022 may witness an intensified competition for deposits not only between banks and non-bank competitors but also with the federal government as a result of FGN Sukuk Bond issuances and possible pick up of the e-naira, effectively taking away deposits from banks. They expressed that the discretionary Cash…
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