Business

Telcos Submit 43 Million NINs To NIMC For Verification

About 43 million National Identity Numbers have been submitted by telecommunication companies to the National Identity Management Commission for verification in order to have them registered with their respective Subscriber Identification Modules. Also, as the deadline for telephone subscribers with NINs to register their SIMs with the identity numbers elapsed today (January 19, 2021), operators have said that SIMs with ...

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Shell Nigeria Gas Seals 20-Year Gas Distribution Deal

Leading domestic gas distribution company, Shell Nigeria Gas (SNG), has signed a 20-year agreement for the domestic distribution of gas to industrial customers and manufacturing plants in Lagos and Ogun States. In the new deal with the Nigerian Gas Marketing Corporation (NGMC), SNG will also extend its distribution network to Badagry to serve a new market in the border community. ...

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PIB: We Need To Produce Largest Oil Volumes Possible At Cheaper Costs, Says Osinbajo

Stakeholders in the oil industry need to find and agree on cheaper means of producing oil while also ensuring a more competitive environment that meets the needs and purposes of the Nigerian nation including the largest production volumes possible. This was the view of Vice President Yemi Osinbajo, SAN, at a virtual meeting on the Petroleum Industry Bill (PIB) with ...

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Osinbajo Welcomes Microsoft’s Offer To Support Nigeria’s Economic Sustainability Plan

Just as global technology giants including Google Inc., HUAWEI, and top social networking company, Facebook, another international tech heavyweight, Microsoft Corporation, has disclosed plans to partner with the Federal Government for the benefit of the Nigerian people, especially young people. Specifically, Microsoft is now offering support for the Digital Transformation pillar of the Federal Government’s Economic Sustainability Plan. This will ...

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Lamentations As FG Hikes Electricity Tariff By Over 50%

Tariff only “adjusted” for inflation –NERC Electricity consumers yesterday, lamented a sudden 50 per cent tariff increase by the Federal Government despite its earlier pledge not to hike  rates until July 1, 2021. This was even as the Nigerian Electricity Regulatory Commission (NERC) denied  raising the tariff. NERC, in a statement, denied approving purported raise in the Tariff Order for electricity distribution companies. ...

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Atiku Sells Investment In Intels, Says Buhari’s Govt Destroyed The Company

Co-founder of Integrated Logistics Services Nigeria Limited (Intels), Atiku Abubakar, has been selling his shares in Intels over the years. In a statement, the media adviser to Atiku, Paul Ibe, said it assumed greater urgency in the last five years, “because this Government has been preoccupied with destroying a legitimate business that was employing thousands of Nigerians because of politics.” ...

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FG, Cement Manufacturers Agree On Discount Charge For ESP 300,000 Social Housing Units

As part of its determination to ensure the success of the Social Housing scheme where the Buhari administration will construct 300,000 houses under the Economic Sustainability Plan (ESP), for low income earning Nigerians, cement manufacturers have agreed with the Federal Government to charge discount price. Making the disclosure over the weekend while visiting the completed model houses in Dei Dei ...

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Onyeali-Ikpe Assumes Office As MD/CEO Of Fidelity Bank

The new Managing Director/CEO of Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe, whose tenure formally commenced on January 1, 2021 has assumed office, becoming the 4th Chief Executive and first female to occupy the position since the inception of the bank in 1988. She succeeds the erstwhile MD/CEO, Mr. Nnamdi Okonkwo who retired on December 31, 2020, after completing his contract tenure ...

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Sanwo-Olu Signs N1.163 Trillion 2021 Appropriation Bill Into Law, Raises Residents’ Hope For Recovery

…says ‘2020 was a peculiar year for Lagos’ Lagos State’s N1.163 trillion 2021 appropriation bill ratified, last Monday, by the House of Assembly has now become a law. Governor Babajide Sanwo-Olu signed the financial document into law on Thursday at a simple ceremony held at the State House in Marina, ushering Lagos residents into the New Year with reassuring hopes ...

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Again, Buhari Bars CBN From Releasing Forex For Food Importation

President Muhammadu Buhari has, again, directed the Central Bank of Nigeria (CBN) not to release foreign exchange from the country’s reserves for the importation of food items. He said seven states are already producing rice for the citizens’ consumption. President Buhari had, while hosting All Progressives Congress  governors to Eid-el-Kabir lunch at his country home in Daura, Katsina State in August, ...

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