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Minister of Power, Prof. Barth Nnaji, has disclosed that contractors under the Rural Electrification Agency (REA) are owed the sum of N3.4 billion. He also disclosed that about 1,946 projects, being carried out by the REA which are at different l...
The National Union of Petroleum and Natural Gas Workers (NUPENG) says it has not shifted grounds on its demand for the reinstatement of the 94 oil workers recently sacked at Qua Iboe oil fields. Mr Harry Bassey, National Public Relations Officer ...
First Bank of Nigeria Plc has through its endowment in professorial chairs in 12 universities across the nation provided platforms for scholarly research, academic excellence and economic development, Group Managing Director and Chief Executive Officer...
Failure by successive governments to develop the nation’s export trade has been identified as a major hindrance to timely clearing of cargo in the nation’s seaports as empty containers which are supposed to be taken back with exports now li...
The Ogun State Government has said it was losing between N1.5 billion and N2 billion every month due to wrongful remittance of taxes to other States within the federation. This amounts to between N18 billion and N24 billion annually. The St...
Recently, the Nigerian Communications Commission (NCC) in a public statement warned MTN, Globacom and Airtel that it would stop them from selling Subscriber Identification Module (SIM) cards by the end of this month if they fail to improve the quality ...
The Commissioner of Accident Investigation Bureau (AIB), Dr Sam Oduselu has attributed the inability of some of the nation’s aviation companies to operate profitability to the global aviation trend where everything is computed in dollars. O...
As the federal government continues to grant foreign airlines access to more than one airport in Nigeria, the aviation industry will continue to record capital flight.This was the position of the Managing Director of Belujane Konzult, Mr. Chris Aligbe,...
Nigerians were stunned last week when the Chairman of the Senate Committee on Local and Foreign Debts, Senator Ehigie Uzamere disclosed that Nigeria’s total debt now stands at $39.72 billion (N6.02 trillion). Out of this amount, exter...
Chris Ugwu examines Commodity Exchange as an alternative investment window in a depressed equity market. Investors’ new appetite to have their investment portfolio in the market diversified is no doubt occasioned by the continued depletion...
In order to significantly cut down on the N1.6 trillion cash transaction yearly, the Central Bank of Nigeria (CBN) is set to roll out about 150,000 point of sale (PoS) terminal by the end of December 2012. CBN governor, Lamido Sanusi said an effi...
Miffed by the low investors’ confidence in the nation’s capital market, Bauchi State Gevernor, Isa Yuguda has stressed the need for public and private Stakeholders to ensure that confidence was restored in the fledging market. ...
Lafarge Wapco Cement Nigeria Plc is targeting a turnover of N18.65 billion during the forth quarter ending December 31, 2011. The company also forecasts a profit after tax of N1.02 billion during the last quarter of the year. Lafarge had re...
In a bid to restore stability and liquidity in the nation’s equity market, a market analyst has called on the Nigerian Stock Exchange to lobby the federal government to push for mandatory listing of major government owned enterprises in the ...
Trustfund Pension, one of the leading Pension Fund Administrators (PFAs) at the weekend declared profit after tax of N215 million for the year ended December 31, 2010, compared to N307 million in 2009. Speaking at the Annual General M...