Business

Power companies move to ease electricity shortfall

Power distribution companies in the country have secured federal government’s approval to supply the stranded electricity in their locations to other companies to reduce the impact of the drop in power generation currently being experienced in some parts of the country.
The approval came d [...]

CBN laments low credit flow in agric sector

The Central Bank of Nigeria, CBN, has decried the declining investment in the agriculture and limited flow of credit to the sector in Nigeria, saying this has affected the food self-sufficiency and economic diversification drive of the federal government.

According to the apex bank, flow of cre [...]

Abuja tops 2015 bank borrowers - NBS

Abuja alone assessed a total of N402.11 million of the N12.90 billion bank loan advanced to the 36 states of the federation including the Federal Capital Territory in the 2015 fiscal year, the National Bureau of Statistics, NBS, has said.

The figure contained in the bureau’s’ &lsquo [...]

CPC to sanction telecoms for consumer right abuses

The Consumer Protection Council, CPC, has said Nigeria can no longer tolerate the flagrant disregard for consumers’ right laws by telecommunication operators, as the council will henceforth evoke appropriate laws to sanction offenders.
Deriding the torrent of complaints received from telec [...]

Financial stability rocky in emerging market – IMF

Emerging economies have been warned of higher financial instabilities owing to market uncertainty, low investors’ confidence and poor economic growth witnessed in most recent times.

The International Monetary Fund, IMF, in its Global Financial Stability Report, released last week in Washi [...]

FG seeks to reduce travel expenditure by 20%

In a bid to cut cost and reduce government’s large expenditure on official travels, the federal government has restricted airline travels by its officials to the Business Class.
The move which is a recommendation from the Efficiency Unit of the Federal Ministry of Finance proscribes busine [...]

FG to revamp textile industry through CTG

The present administration has indicated interest to fully implement the National Cotton, Textile and Garment, CTG, policy of the previous administration, in revatilising the textile industry that has since gone under.
The Minister of State for Industry, Trade and Investment, Aisha Abubakar, sta [...]

2016 budget: FG assures of proper implementation

As federal lawmakers, last week, forwarded the details of the 2016 budget to the presidency, the federal government has assured of its willingness to properly manage the nation’s resources while implementing the budget to the latter.

Minister of Budget and National Planning, Senator Udoma [...]