Business

Atiku To FG: Realistically Slash Budget, Billions For Presidential Travels/Feeding  

Says Nigeria Cannot Afford Luxuries During an Austerity  Former Vice President of Nigeria, Atiku Abubakar, has expressed his consternation that despite the crash in the price of oil, and the inability of Nigeria to expand her revenue base through the non oil sector, the Federal Government has only slashed budget “by a mere 0.6%, from ₦10.594 trillion to ₦ 10.523 ...

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Report Illegal Haulage To Us, Dangote Urges Nigerians

The management of Dangote Industries Limited has solicited the assistance of the general public in the fight to rid the organisation of illegal haulage activities being perpetrated by some unscrupulous persons. In a statement, the management of the organization said, “If you have seen any Dangote truck hauling non-Dangote products anywhere across the country, please make a report to Dangote ...

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Stop Price Fixing Of Petrol, Atiku Tells FG

Former Vice President of Nigeria and Presidential candidate of the Peoples Democratic Party (PDP) in the 2019 election, Atiku Abubakar has again called on the Federal Government to liberalise the nation’s downstream oil sector as the current situation whereby the NNPC uses scarce foreign exchange to import fuel at subsidised rates is not sustainable. Atiku Abubakar in a statement issued ...

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Rivers Set For Coronavirus Testing With Shell-Donated PCR Machines, Ventilators

Rivers State is set to start testing for COVID-19 in Port Harcourt with the receipt of the state’s first set of testing equipment from the Shell Petroleum Development Company (SPDC) among many other medical hardware and consumables presented to the state governor, Chief Nyesom Wike on Wednesday. SPDC’s Managing Director and Country Chair, Shell Companies in Nigeria, Osagie Okunbor, who ...

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Dangote Foundation Engages 54gene Laboratory To Conduct 1,000 COVID-19 Test Per Day In Kano

The Aliko Dangote Foundation (ADF), a philanthropic endeavor of Aliko Dangote, has contracted 54Gene, a molecular diagnostics company specialized in research, and diagnostics, to immediately set up a 400 test/day capacity laboratory in Kano State. 54Gene is accredited by the Nigeria Centre for Disease Control (NCDC), and has already set up labs in Lagos and in Ogun States. The lab, ...

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FG To IMF: Nigerians’ll Pay Higher Electricity Tariffs

Nigerians will pay much higher tariff for power in 2021, going by promises made by the Federal Government to the International Monetary Fund while seeking the $3.4bn emergency financial assistance recently approved for Nigeria. The Executive Board of the IMF approved the Rapid Financing Instrument, which the Federal Government plans to use to address the economic impact of the COVID-19 ...

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Coronavirus: ‘Dangote Promotes Worker Friendly Environment’

As workers globally marked the May Day, a case has been made for the collaboration between employers and employees to work out strategies to minimize the impact of the business shutdown occasioned by the outbreak of Coronavirus pandemic. President of the Chemical and Non-Metallic Sector Employers, Mr. Devakumar Edwin, is also a Group Executive Director of Dangote Industries Limited while ...

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3,256 Firms Benefit As CBN Begins Disbursement Of N50bn COVID-19 Funds

NIRSAL Microfinance Bank has commenced the disbursement of the Central Bank of Nigeria N50bn Targeted Credit Facility. The Managing Director, NIRSAL MFB, Mr Abubakar Kure, inaugurated the disbursement of the fund on Thursday in Abuja. He said a total of 3,256 individuals and businesses that were affected by the negative impact of the coronavirus pandemic would benefit under the first ...

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CBN Lifts Suspension On Cheque Clearing In Nigeria

The Central  Bank of Nigeria has lifted the suspension of cheque clearing which it instituted on March 31, 2020. Various banks made this known to their customers in a statement today. In its statement,  First Bank said, “Further to our earlier communication on the temporary suspension of cheque clearing in Nigeria which was instituted on the 31 March 2020 by ...

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