Business

Investment: FCT accounts for 26% of $73.08bn in 3 quarters

Nigeria’s capital city, Abuja, is said to be the biggest beneficiary of the $73.08billion worth of proposed investment in 18 states and the FCT during the first 3 quarters of 2018.

The Abuja Inquirer, last week, reported that investors have announced to spend $73.08 billion to execute 65 [...]

Fri, 16 November 2018


Killer beans: SON to sensitise Nigerians on preservation codes

Following the shocking discovery of the use of pesticide for the preservation of beans by some vendors in parts of the country, the Standards Organisation of Nigeria, SON, said it will be embarking on massive sensitisation on codes of practice for preservation of the crop.

The Director General [...]

Wed, 14 November 2018


Abuja, others attract $73.08bn investment in Q1

Efforts by the Federal Government to make Nigeria attractive to investors could be yielding results already, as 18 states and the FCT were said to have attracted proposed investment worth $73.08billion in three months.

The Minister of Budget and National Planning, Sen. Udoma Udoma, said the pro [...]

Fri, 09 November 2018


Abuja agency targets shea butter export to boost revenue

In a bid to support the diversification agenda of the Federal Government, the Abuja Enterprise Agency, said it had set up Shea butter plants to process the product in the FCT.

The plant, according to the Managing Director and Chief Executive Officer, Arabi Muhammed Tukur, will support the proce [...]

Fri, 09 November 2018


Science ministry steps in to tackle power issues in rural areas

The Federal Ministry of Science and Technology is stepping in to address the power challenges in rural communities in the country through the provision of small hydropower projects in selected communities.

The Minister of Science and Technology, Dr Ogbonnaya Onu, said his ministry will soon int [...]

Fri, 09 November 2018


No forex allocated for rice importation in 2018 - CBN

The volume of rice importation into Nigeria is said to have dropped considerably in 2018, without a single foreign exchange allocated for the importation of the agricultural produce this year.

The Central Bank of Nigeria claims that based on figures obtained from various official sources, rice [...]

Fri, 09 November 2018


BPP to employ digital technology in public procurement

The Bureau of Public Procurement, BPP, said government has set plans in motion to allow for the use of modern technology in public procurement processes in Nigeria.

Director General of the Bureau, Mamman Ahmadu, said the move is to further strengthen the ongoing reform process and also build co [...]

Fri, 09 November 2018


Tax tribunals yet to resolve 209 cases

Despite the several tax reforms aimed at boosting tax payers’ confidence in the system, a number of cases before the various Tax Appeal Tribunals, TAT, are yet to be resolved.

According to the federal government, 209 tax cases amounting to about $18.804billion, N205.654billion and EUR 0.8 [...]

Fri, 09 November 2018


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