Business

TCN completes 60MVA Ekim substation …NERC issues permits to 11 meter providers

The Transmission Company of Nigeria, TCN, said it has completed and energised a 60MVA 132/33kV power transformer and three outgoing 33kV feeder bays in the first phase of the transmission substation in Ekim, Akwa Ibom State.

The spokesperson of TCN, Mrs. Ndidi Mbah, said the transformer was ene [...]

Sat, 27 April 2019


SIM registration: 95mn cards valid, undergoing verification

The Nigerian Communications Commission, NCC, has cleared the air on the supposed invalidation of over 95million Subscriber Identity Module, SIM, cards, explaining that the affected cards are merely undergoing some form of verification.

 The regulator claims that the 95.7million affected SI [...]

Sat, 27 April 2019


Loopholes in tax system limits revenue collections- FG

President Muhammadu Buhari said government is aware of some of the loopholes in the Nigerian tax system, as reflected in the low revenue being generated from the sector. 

He said the federal government is taking steps to change the narrative by ensuring that the level of commercial activit [...]

Sat, 27 April 2019


FG plans $100bn infrastructure investment

At least $100billion is required annually if Nigeria plans to close the infrastructure gaps across the country anytime soon.

The Director General of the Bureau of Public Enterprises, BPE, Mr. Alex Okoh, said the amount must be invested yearly for the next six years in order to achieve optimum r [...]

Sat, 13 April 2019


Rice farmers want firmer actions against smugglers

Rice farmers in the country are calling for a more decisive measure to be made in checking the unabated smuggling of the produce into the country, as the trend threatens the business of rice farming in Nigeria.

The farmers under the auspices of Rice Processors Association of Nigeria, RIPAN, sai [...]

Sat, 13 April 2019


PTAD disburses N102.8bn to pensioners in 15 months

The Pension Transitional Arrangement Directorate, PTAD, said it has paid a total of N102.84billion to pensioners between January 2018 and March 2019 under the Defined Benefits Scheme.

Speaking at the agency’s 2019 North Central Stakeholders Forum, the Executive Secretary of PTAD, Sharon I [...]

Sat, 13 April 2019


Germany, Nigeria partner on skills acquisition

To stem the tide of illegal migration of young persons to Europe, the German government said it is arranging a skills acquisition intervention for 35,000 Nigerians through its Skills Development for Youth Employment programme.

The Deutche Gesellschaft fur Internationale Zusammenarbeit, a German [...]

Sat, 13 April 2019


Nigeria disagrees with IMF on sovereign fund ranking

Nigeria Sovereign Investment Authority, NSIA, has contested a ranking by the International Monetary Fund, IMF, report that places Nigeria as the second worst country in the world in the use of Sovereign Wealth funds.

 

The agency insisted that the recent Fiscal Monitor report releas [...]

Fri, 12 April 2019


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