Business

Excess Crude Account Drops From $2.319bn To $631m In Three Weeks

Nigeria’s Ministry of Finance on Wednesday disclosed that the amount in the Excess Crude Account (ECA) has declined from $2.319 billion to $631 million within three weeks. Permanent Secretary, Ministry of Finance, Mahmoud Dutse while explaining the decline told journalists in Abuja that withdrawals were made by the Federal Government from the ECA to settle the last tranche of the ...

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Buhari Unveils N8.8trn Budget

President Muhammadu Buhari on Wednesday unveiled a federal budget of N8.83 trillion for the 2019 fiscal year with N300 billion lower that the current budget. The figure came in the 2019 Appropriation Bill presented by the president to a joint session of the National Assembly in Abuja. The News Agency of Nigeria (NAN) reports that the 2018 total budget estimate ...

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How Africa, Europe Can Collaborate To Tap Benefit Of Digital Economy, By Osinbajo

Africa and Europe must work together to advance and harvest the economic benefits of digital economy, and at the same time prevent a counter-productive widening of the digital gap, according to Vice President Yemi Osinbajo, SAN. Prof. Osinbajo stated this today at the Africa-Europe High-Level Forum in Vienna, Austria, which had in attendance other African and European Heads of State ...

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Nigeria’s First Gold Refinery On Stream

Nigeria’s first gold refinery being built by Kian Smith Trade & Co Limited is billed to be completed by the end of June next year. There was already a significant monthly supply of gold from Zamfara, Kebbi, Kwara, Niger, Kaduna, Ibadan, Ile-Ife, and Ilesha and about 100kg per month from other parts of Africa,” said the Vice Chairman, Kian Smith, ...

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Low Sugar Inscription: Apologise To Customers, Court Orders Nigerian Breweries

Justice Esohe Ikpomwen of Edo High Court, on Wednesday, ordered the Nigerian Breweries Plc, to apologise to one of its customers, Prof. Ernest Izevbigie, for the wrongful inscription of “low sugar’’ on its product. Izevbigie, a professor of Biochemistry had alleged that the company inscribed misleading information, “low sugar,” on the can of one of its non-alcoholic drinks, Amstel Malt. ...

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Nigeria An Investment Destination Of Choice, Osinbajo Tells German Investors

Nigeria is a leading investment destination for potential and serious investors, and the business opportunities are abundant and increasing, according to Vice President Yemi Osinbajo, SAN, today at the first Nigeria-German Business Dialogue in Germany. He made the disclosure today at the Adlon Kempinski Hotel in Berlin, where the Vice President spoke on the abundant investment opportunities available in Nigeria, ...

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Osinbajo Addresses German Business Community

Vice President Yemi Osinbajo, SAN, would be addressing a group of notable German business leaders in Berlin, Germany, tomorrow, Monday, December 10. Prof. Osinbajo would be speaking on the potential of the Nigerian market and the gains recorded by the country through its Ease of Doing Business reforms. The Buhari administration’s Ease of Doing Business reforms have helped in improving the country’s ranking ...

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Fuel Scarcity Looms As Oil marketers Ultimatum Expires Monday

Prospects of another round of fuel scarcity in the country emerged Saturday as oil marketers said they were yet to reach an agreement with the Federal Government on the N800 billion subsidy arrears. The marketers’ ultimatum to government to pay them or risk the shutdown of depots expires on Monday. And Mr Olufemi Adewole, Executive Secretary, Depot and Petroleum Products ...

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Excitement As Osinbajo Launches N10,000 Tradermoni In Ilorin

Providing interest-free loans to petty traders nationwide empowers ordinary Nigerians and helps to tackle poverty, while enabling those at the bottom of the economic ladder who work the hardest do better, according to Vice President Yemi Osinbajo, SAN. Prof. Osinbajo stated this on Friday during his visit to Ilorin, Kwara State capital, where he launched the N10,000 collateral-free TraderMoni scheme ...

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Small businesses in Africa will be on the frontline of climate change

In Zambia businesses in the food processing sector, are in for a tough time. flickr/Simon Hess Kate Elizabeth Gannon, London School of Economics and Political Science and Declan Conway, London School of Economics and Political Science Climate change is going to have huge consequences all over the world, especially in Africa. Harvests will be affected, threatening agricultural outputs. This could ...

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