Economy
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Cement: BUA blames competitors, middlemen, for profiteering
The BUA Group has blamed middlemen and other cement producers for manipulating the prices of cement out of the reach of ordinary Nigerians despite government’s efforts to make cement affordable for the people. The Chairman and Chief Executive Officer of the Group, Abdul Samad Rabiu, said this recently when he led his company on a courtesy visit to President Muhammadu…
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NCC CSIRT discovers banking app-targeting malware
The Nigerian Communications Commission’s Computer Security Incident Response Team (CSIRT) has discovered a newly-hatched malicious software that steals users’ banking app login credentials on Android devices. According to a security advisory from the NCC CSIRT, the malicious software called “Xenomorph”, found to target 56 financial institutions from Europe, has high impact and high vulnerability rate. The main intent of this…
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Buhari extols BUA Group for sustaining cement availability
President Muhammadu Buhari Friday applauded the BUA Group for its strides in narrowing the gap between demand and supply of cement in the country. The President spoke at State House, Abuja, while receiving a top delegation from BUA Group, led by the Chairman, Abdul Samad Rabiu, who were on a thank you visit. President Buhari had last month visited Sokoto…
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Julius Berger sets up Equipment Academy
Construction giant, Julius Berger, has set up an academy at its main yard in Abuja to boost manpower and train more Nigerians. The academy will be run in partnership with Armed Forces Electrical and Mechanical Engineering. In a statement posted on its official Facebook page, Julius Berger says the academy will run six months certificate programme for its students. The…
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Nigeria not gaining from soaring oil price – Sylva
Minister of State for Peteroleun, Timipre Sylva says the soaring oil price is not good for Nigeria as the country is not gaining anything from it. Sylva said this in an interview with Bloomberg Television on Thursday. According to him, Nigeria’s comfort zone in terms of oil prices was between $70 and $80 per barrel. Western Post reported that crude…
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2021 GDP Projection: IMF, World Bank Missed It again, says BMO
The Buhari Media Organisation says the latest GDP figures released for the country has vindicated its stand in earlier rejecting the economic projections of the International Monetary Fund and the World Bank. This was stated in a statemet signed by BMO Chairman Niyo Akinsiju and Secretary and Cassidy Madueke. According to them, the GDP figures have further shown that BMO’s…
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Oil price rallies at $100 per barrel on the back of Russia attack on Ukraine
Russia’s military attack on Ukraine had it’s toll on crude oil prices as it surged above $100 per barrel on Thursday. This was the first time oil prices were going above $100 since 2014. Russia Defence Ministry has announced that its military has started full scale war in Ukraine after weeks of denials by President Vladimir Putin that his country…
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FG to spend over N1bn on school feeding daily
The Federal Government will spend over N1bn daily to feed primary school pupils in the National Home-Grown School Feeding Programme. This comes as the cost of feeding a child per day has been released from N70 to N100. At a two-day national consultative meeting on public food procurement which was held in Abuja on Wednesday, National Coordinator, National Social Investments…
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MTN, Mafab beat payment deadline, make good on 5G licences
Provisional winners of the 3.5 Gigahertz (GHz) spectrum licence, MTN Communications Nigeria Plc and Mafab Communications Limited, have made their full payment of $273.6 million each for the 5G Spectrum license to the Nigerian Communications Commission. The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, officially confirmed the payment status today, February 24, 2022, just as…
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Restructuring: Each state should control own resources – Adesina
Adeola Ogunrinde President of the African Development Bank, AfDB, Akinwumi Adesina has called for each state to control its resources in Nigeria. Delivering a lecture titled ‘Nigeria — A Country of Many Nations: A Quest for National Integration’, at an event to celebrate the 80th birthday of Enoch Adeboye, general overseer of the Redeemed Christian Church of God, RCCG, on…
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