Business

NERC fines DISCOs N6.2m for ignoring forum rulings

The Nigerian Electricity Regulatory Commission, NERC, has fined two distribution companies over N6million for failing to comply with the decisions of Forum Offices rulings in complaints filed by their customers.
The Commission in Directive 153 imposed the sum of N5.010million sanction on Benin E [...]

Sat, 15 October 2016

FG receives 56 proposals to boost telecom services in Nigeria

A total of 56 telecommunication and ICT based proposals has so far been submitted to the federal government’s committee on research submission on ways to improve telecom services in the country, the Nigerian Communications Commission, NCC, has said.
Speaking recently at the at the inaugura [...]

Sat, 15 October 2016

FG set to lower taxes for SMMEs

As part of plans to encourage small businesses, and spur the economy, the Federal Government said it is set to reduce tax rates payable by Small, Micro and Medium Enterprises, SMMEs, in the country.
The incentive, which is part of recommendations by the Prof. Abiola Sanni-led tax review committe [...]

Sat, 15 October 2016

CBN approves guideline for Sukuk issuance by states

In a bid to improve the diversification of sources of funds for development at the sub-national levels, the federal government last week approved the guidelines for granting liquid asset status to Sukuk instruments issued by state governments.
According to the Central Bank, the new guideline for [...]

Sat, 15 October 2016

How Nigeria can get its budgeting process right - Colloquium

Stakeholders have called for a formal forum for pre-budget consultations between the Legislature and the Executive, to avoid a repeat of the em [...]

Sat, 15 October 2016

Benue moves to generate own electricity

As part of its industrialization policy, the Benue state government said it has commenced the process to generate 10 megawatts of electricity for the state.

Governor Samuel Ortom, who disclosed this in Makurdi last week, said he had met with the Acting Chairman of Nigeria Electricity Regulatory [...]

Sat, 15 October 2016

Nigeria targets 7mil tonnes rice production annually

The Federal Government has said it is working at improving staple rice production to seven million tons from the year 2017, with the new technology of rice production developed by Japan International Corporation Agency, JICA.
Speaking at a meeting with a delegation from JICA, the Minister of Agr [...]

Sat, 03 September 2016

NEMSA, SON declares war against fake electrical materials

Furtherance to the campaign against the use of substandard materials in electrical installations, the Nigerian Electricity Management Services Agency, NEMSA, recently setup an Intra-agency committee to tackle the influx of fake electrical materials and equipment into the country.
The latest coll [...]

Sat, 03 September 2016