The thirty-six states of the federation yesterday, renewed their demand for a complete review of the formula in the sharing of revenue between the three tiers of government on the basis of equity and fairness. Chairman of Finance Commissioners Forum, Rebo Usman, told reporters at the end of the Federation Accounts Allocation Committee (FAAC) meeting in Abuja that it is…
Investors at the Nigerian Stock Exchange recorded additional gains at the close of trading session on Thursday, as market-measuring parameters appreciated by 1.01 per cent; making it the third day of consecutive upward trend. The exchange market capitalisation of the 194 first-tier equities closed yesterday at N8.223 trillion after opening the day at N8.140 trillion, reflecting N83 billion gains. About…
Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} Ghana's annual inflation rate fell to 9.02 percent in April, the country's statistics office said on Wednesday, the…
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Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} The Nigerian banking industry is expected to put up a good showing this year in the aftermath of…
Starcomms Plc is offering its customers a tariff plan that will allow them make free on-net calls all day and 20 kobo per second calls to other networks within Nigeria. The plan, called the Awuff Plus, is available to all Starcomms customers everywhere under the network’s coverage except those on Virtual Private Networks (VPN). To benefit from it, the customer…
Five months after it launched the ground-breaking 2Good plan, leading telecommunications service provider, Airtel Nigeria, has introduced a new tariff plan which offers very affordable call rates and sets a new benchmark for value offering in the industry. The new tariff offer, the Airtel Big Family package allows existing and new customers to make On-Net calls at 15 Kobo per…
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) yesterday said revenue accruals from the exploitation of crude oil from the 172 disputed oil wells between Akwa Ibom and Rivers states are to be saved in a special account pending the resolution of the issues by the Inter-Agency Technical Committee on the implementation of the Supreme Court Judgment. The Commission said…
Stakeholders in the cement industry have expressed concern over the increasing prices of the product across the country in the last four months. Some have attributed the situation to problems of inadequate supply, high transportation cost and policy somersault. A survey conducted by the News Agency Nigeria (NAN) across the country showed that prices of the different brands of cement…
Trading activities in Starcomms’ shares yesterday boosted market volume as the quantity of shares transacted during the day rose by 26.11 percent as against a marginal increase of 6.59 percent recorded last trading day. A total of 371.664 million shares were traded compared to 294.696 million at the previous trading session last Friday. Investors traded 69.569 million units of Starcomms’…
The Nigerian naira eased against the U.S dollar on the interbank market on Monday after the Central Bank sold dollars at a higher rate than last week at its foreign exchange auction. The naira closed at 155.85 to the dollar on the interbank market compared to 155.15 at Friday’s close, although the sale of $400 million by state-owned energy company…
The oil-producing central African state of Congo Republic inaugurated a 120 Megawatt Chinese-funded hydroelectric power station late on Saturday aimed at bridging the gap in its energy needs. The $377 million Imboulou plant 150 km (90 miles) north of the capital Brazzaville is 85 per cent-funded with soft loans by China and was built by China National Machinery Equipment Import…
I readily confess to a fascination with the "theory of unintended consequences". But, a small clarification before anything further is written. My interest is not in the certainty that everything that may go wrong about a policy choice/decision is bound to. Confronted by almost six decades of inept and often cynical management of this economy, it is to be expected…
While a team of young entrepreneurs recently embarked on a financial literacy campaign to some parts of the country under the umbrella of ‘Financial IQ’ programme, one of the campaign contributors, Segun Olu of AirDock Services Limited, an export trading company said there are enormous opportunities awaiting entrepreneurs who would venture into export trading. Mr Olu said many people look…
The Africa Finance Corporation (AFC) scored another first with the granting of the Best Renewable Project in Africa Award to the Cabeolica Project, at the recent Africa Energy Awards held in Johannesburg. The Cape Verde based Cabeolica wind farm project was singled out for being the first commercial scale Public Private Partnership (PPP) wind farm in Sub-Saharan Africa. AFC is…