Business

CBN Cuts Interest Rate To 13.5%, Seeks GDP Rebasing

•Experts say move not enough to boost economy The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday reduced the Monetary Policy Rate, also known as the benchmark or main interest rate, from 14 per cent to 13.5 per cent. The MPR, which is used to determine bank lending rates and the cost of credit for borrowers, had ...

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Metering No Longer Our Responsibility, Discos Tell Consumers

Power distributors have declared that they are no longer responsible for the provision of meters to electricity consumers across the country. It was also gathered from the Discos that the monetary shortfall in Nigeria’s power had risen to over N1.4tn despite the marginal improvement in revenue collection by the electricity distributors on behalf of the industry. Data obtained in Abuja ...

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PEBEC Launches REPORTGOV App To Drive Ease Of Doing Business

The Presidential Enabling Business Environment Council (PEBEC) has launched the REPORTGOV.NG App, an official public service feedback and complaints platform to support business climate reforms implemented by the Council since 2016. The platform, which is also a website, will facilitate the escalation and resolution of issues encountered with Ministries Departments and Agencies (MDAs) towards ensuring a more business-friendly environment. The ...

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African Artificial Intelligence Pioneer And Cortex Logic CEO, Dr. Jacques Ludik, Awarded AI Leader Of The Year

South African based Artificial Intelligence Software & Solutions veteran and founder of Cortex Logic, awarded premium accolade at Africa’s Tech Week event, underlying a life dedicated to AI and Data Science Innovation. Dr Ludik is an African based smart technology entrepreneur and Artificial Intelligence investor / AI ecosystem builder, holds a PhD in Computer Science and has amassed 25+ years’ ...

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Frost & Sullivan Study Shows Desalination Investments In Africa On The Rise

North Africa dominates the desalination market by 79.9% in Africa A recent study conducted by Frost & Sullivan found that the desalination market in Africa has recovered from the global economic downturn in 2015-2017, which resulted in low desalination investment across the continent. Frost & Sullivan’s findings revealed that the African desalination market is now stablising and investment in desalination ...

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Dangote, Chevron Nigeria Sign Historic Agreement On Gas Supply

Dangote Fertilizer Limited has entered into a long-term agreement with Chevron Nigeria Limited (CNL) for the delivery of Natural Gas from Chevron’s supply portfolio to the fertilizer plant, which is poised to start operations soon. The contract, under the Gas Sale and Aggregation Agreement (GSAA) is part of International Oil Company (IOC)’s gas obligation to the domestic market through the ...

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Many Businesses Not Ready For A Future With New Accountancy Skills — Chartered Certified Accountants

The Association of Chartered Certified Accountants (ACCA) has launched a campaign – supported by one of the largest ever global studies across the profession – on the skills accountants need as they head into the next decade. ACCA’s body of research shows there are diverse emerging issues where technical and communication skills will be vital by 2020–25. What topped the ...

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Buhari Orders NNPC To Take Over Operation Of OML 11 From Shell

President Muhammadu Buhari has ordered the Nigerian National Petroleum Corporation to take over the operatorship of the entire Oil Mining Lease 11 from Shell Petroleum Development Company. According to a letter from State House, Abuja,  to the Group Managing Director of NNPC, dated March 1, 2019, with reference number SH/COS/24/A/8540 and signed by the Chief of Staff to the President, ...

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After Ethiopia Crash Horror, Some Nations Ground Boeing 737 MAX 8s

Investigators in Ethiopia found two black box recorders on Monday that will help piece together the final moments of an Ethiopian Airlines plane before it plunged, trailing smoke and debris, and crashed killing 157 people. China and Indonesia grounded their fleets of Boeing’s 737 MAX 8 aircraft on Monday, although most major airlines continued to fly the plane. The disaster ...

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I’m Happy Helping Others To Develop Their Brands, Says Addo-Owusu

Haulat Afolabi Like a diamond in the sun, Mrs. Emma Addo-Owusu glowed, as she took a retrospective look at her selfless efforts, down the lane. Looking straight ahead in deep contemplation, she heaved a sigh of relief and at the same time beamed with smiles. “It’s been amazing to have the opportunity of contributing meaningfully to people’s lives,” she said, getting ...

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