Business

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


Wizkid ‘buys’ N101m Lamborghini Urus

Nigerian pop star, Wizkid, has reportedly acquired a new Lamborghini Urus which is said to be worth almost $280,000 (N101 Million).

The pop star was seen in a video on his Instagram page sampling the car.

Wizkid recently released his video for `Fever’, which broke the internet and [...]

Sat, 03 November 2018


Maritime: Nigeria losses $500m annually - SOAN

President, Ship owners Association of Nigeria,Mr Greg Ogbeifun, SOAN, has said that Nigeria losses $500 million annually to foreign shipping operators in the country.

He told reporters in an interview in Abuja that Nigeria tax policies and levies were affecting the maritime business.

Acc [...]

Sat, 03 November 2018


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