26.18Lagos

Thursday, 2 February 2023

headlines
  • Buhari Inaugurates MOFI Board, FG Targets N100trillion - President Muhammadu Buhari has charged the Ministry of Finance Incorporated (MOFI) to grow its Assets Under Management from the current value of N18 trillion to at least N100 trillion in the next 10 years.  The president gave the charge at the launch of the new MOFI and inauguration of the...
  • Buhari Congratulates Siene Allwell-Brown At 70  - President Muhammadu Buhari says he shares in the joy of celebrations as seasoned broadcaster, Siene Allwell-Brown, clocks 70, exuding the same poise, confidence and talent that made her a household name in the 70s and 80s.  The president, in a statement by his media aide, Mr Femi Adesina, on Wednesday...
  • FEC Approves N4b For Construction Of Senate Buildings, Radio Antenna  - The Federal Executive Council (FEC) has approved about N4 billion for the execution of three projects across the nation.  The amount would cover the construction of Senate Buildings in Osun State University, Osogbo, and Federal University, Lokoja, as well as erection of radio antenna for the National Commission for Nomadic...
  • Lagos Unveils Mobile Learning Devices  - The Lagos State Government has described its Unified Scheme of Work and launch of Mobile learning devices/E-Books for secondary school students as ground-breaking and designed to revolutionise teaching and learning in schools in the State.   Gov. Babajide Sanwo-Olu made the remark on Tuesday at the unveiling of the scheme and...
  • Okomu Oil Donates Relief Materials To Owan Fire Victims  - Okomu Oil Palm Company Plc has donated relief materials worth millions of naira to the victims of the November 18th, 2022 fire disaster in Owan community, Ovia North East Local Government Area of Edo State.   The fire incident occurred when a tanker carrying petroleum product fell in the community and went...
Buhari Inaugurates MOFI Board, FG Targets N100trillion

Buhari Inaugurates MOFI Board, FG Targets N100trillion

President Muhammadu Buhari has charged the Ministry of Finance Incorporated (MOFI) to grow its Assets Under Management from the current value of N18...
Buhari Congratulates Siene Allwell-Brown At 70 

Buhari Congratulates Siene Allwell-Brown At 70 

President Muhammadu Buhari says he shares in the joy of celebrations as seasoned broadcaster, Siene Allwell-Brown, clocks 70, exuding the same poise, confidence...
FEC Approves N4b For Construction Of Senate Buildings, Radio Antenna 

FEC Approves N4b For Construction Of Senate Buildings,...

The Federal Executive Council (FEC) has approved about N4 billion for the execution of three projects across the nation.  The amount would cover...

Buhari Inaugurates MOFI Board, FG Targets N100trillion

President Muhammadu Buhari has charged the Ministry of Finance Incorporated (MOFI) to grow its Assets Under Management from the current value of N18 trillion to at least N100 trillion in the next 10 years.  The pres...

FEC Approves N4b For Construction Of Senate Buildings, Radio Antenna 

The Federal Executive Council (FEC) has approved about N4 billion for the execution of three projects across the nation.  The amount would cover the construction of Senate Buildings in Osun State University, Osogbo,...

Okomu Oil Donates Relief Materials To Owan Fire Victims 

Okomu Oil Palm Company Plc has donated relief materials worth millions of naira to the victims of the November 18th, 2022 fire disaster in Owan community, Ovia North East Local Government Area of Edo State.  &n...

INEOS GRENADIER PARTNERS COSCHARIS MOTORS IN NIGERIA 

INEOS Automotive has named Coscharis Motors as its official retail partner in Nigeria.   A statement sent to City Business News explained that Nigeria  is now the sixth market in Sub-Sahara Africa to ...

Navy Reacts To “Sinking” Warship Viral Video

The Nigerian Navy has called on the general public to jettison in totality a viral video showing Nigerian Navy Ship (NNS) THUNDER in distress and described it as “unpatriotic, clueless and unprofessional.’’  T...

Capital Market/Banking

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UBA Appoints Abiola Bawuah As First Female CEO For Africa...

The Board of Directors ,United Bank for Africa (UBA)Plc on Monday announced the appointment of Mrs. Abiola Bawuah as Chief Executive Officer (CEO) of UBA Africa.    UBA in a s...

Reps Minority Caucus Lauds CBN For Extending Deadline On Old...

The House of Representatives Minority Caucus has commended the Central Bank of Nigeria (CBN) for extending the deadline for swapping of the old naira notes.A statement issued by Rep. Ndudi Elumelu (PDP-Delta), the House ...

Stock Market Closes Week With N52b Decline

The Nigerian Exchange (NGX) closed negative due to buy-interests and sell-offs in large and small capitalised stocks.   Also, the market capitalisation dropped by N52 billion to close at N28.681 trillion as against...
Ecobank

Ecobank Ellevate Partners Ananse Africa, MasterCard Foundation, Train Fashion Entrepreneurs

Ecobank Ellevate has partnered Ananse Africa and MasterCard Foundation to train fashion entrepreneurs and creatives in Nigeria.   A statement sent to City Business News explained that Ecobank Ellevate is a prop...

AfDB Commits $10bn To Drive  Food Security In Africa 

The African Development Bank (AfDB) Group is to commit $10 billion over the next five years to make Africa food secure.  The president of the bank, Dr Akinwumi Adesina made the commitment at the Dakar Africa Food Summit...

Maritime

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NPA Probes Ojuelegba Container Accident  

The Management of Nigerian Ports Authority (NPA) has commenced full scale investigation to ascertain the source of container linked to last Sunday accident that clamed nine lives.   NPA in a statement obtained ...

Maersk, MSC Terminate Alliance  

Container shipping giants, MSC Mediterranean Shipping Company (MSC) and Maersk A/S, an entity under A.P. Moller – Maersk, have agreed to terminate the 2M alliance, effective in January 2025.   2M is a co...

NIMASA Photo News

NIMASA Task Banks On $350m Cabotage Fund Guidelines 

The Nigerian Maritime Administration and Safety Agency (NIMASA) has issued a 72-hour ultimatum to the Primary Lending Institutions (PLIs), to release modalities for the disbursement of $350 million Cabotage Vessels Finan...

Edo, Port of Antwerp, Seal Benin River Port Partnership  

The Edo State Government has concluded plans with the Port of Antwerp from Belgium as part of measures to finalize the Benin River Ports project.   This was gathered from a meeting of the Benin River Port (BRP)...

INEOS GRENADIER PARTNERS COSCHARIS MOTORS IN NIGERIA 

INEOS Automotive has named Coscharis Motors as its official retail partner in Nigeria.   A statement sent to City Business News explained that Nigeria  is now the sixth market in Sub-Sahara Africa to ...

Hyundai Reveals All-New KONA SUV

Hyundai Motor Company has revealed details of its new generation KONA subcompact Sports Utility Vehicle (SUV) for Korea, with information about the global model coming in March, 2023.   According to information...

Geely Records 1,432,988 Sales In 2022 

Geely Auto has announced its December and annual sales figures for 2022: 146,017 passenger cars were sold in December, and the total cumulative sales of Geely Auto for 2022 reached 1,432,988 units, up 8% year-on-year, wi...

Mikano Motors Rewards Staff

The Management of Mikano Motors has commended staff of the company for their outstanding contributions to the growth of the company in 2022.   Speaking at an award ceremony held at the company’s vehicle Assem...

Photo News

Energy

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NNPC Takes Over Addax Petroleum’s PSC Assets 

The Nigeria National Petroleum Company Limited (NNPCL)has taken over the operation of Production Sharing Contract (PSC) assets from Addax Petroleum Development Nigeria Limited.  The NNPCL Chief Corporate Communicati...

Edo Refinery Begins Production

Edo State Government-backed Edo Modular Refinery has commenced production at its 6,000bpd plant in Ologbo, Ikpoba Okha Local Government Area.  A statement sent to City Business News on Tuesday explained that the fac...

NLNG: Bonny Plant Still In Operation

The Nigeria LNG plant on Bonny Island is still active despite a force majeure declared in October 2022 and feed gas supply challenges.  Mr Andy Odeh, the General Manager, External Relations and Sustainable Developme...

Shell To Pay First UK tax In Five Years

Shell has said it will pay tax in the UK for the first time since 2017 after making huge global profits last year.  The energy firm said it expected to “take a hit” of around $2bn (£1.7bn) on profits in...

ExxonMobil Sues EU To Block Energy Windfall Tax

US energy giant ExxonMobil is suing the European Union (EU) in a bid to stop its new windfall tax on oil firms.  A windfall tax is imposed on firms that benefited from something they were not responsible for.  ...

Photo News

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NIMASA Photo News

Photo News

Photo News

NPA Photo News

NPA Photo News

Minister of Transportation, Mu’azu Sambo presenting special recognition award to the Nigerian Ports Authority (NPA) General Manager (Public, Private, Partnership), Madubike Esther Ugo for her dedication and commitmen...

Security/Safety

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Navy Reacts To “Sinking” Warship Viral Video

Navy Reacts To “Sinking” Warship Viral Video

The Nigerian Navy has called on the general public to jettison in totality a viral video showing Nigerian Navy Ship (NNS) THUNDER in...
FRSC Boss Recommends Construction Of Barricades On Ojuelegba Bridge  

FRSC Boss Recommends Construction Of Barricades On Ojuelegba...

The Corps Marshal, Federal Road Safety Corps (FRSC), Dauda Biu has expressed concern over recurring container crashes on Ojuelegba bridge in Lagos and...
CNS Flags-Off Obangame Express With Nine Ships, Two Helicopters, Others 

CNS Flags-Off Obangame Express With Nine Ships, Two...

The Chief of Naval Staff (CNS), Vice Adm. Awwal Gambo, on Friday flagged-off the 13th Obangame Express with nine ships, two helicopters, maritime...

Agriculture

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IITA Appoints New DG 

The International Institute of Tropical Agriculture (IITA) Board of Trustees and CGIAR have appointed Dr Simeon Ehui as the Director-General for IITA and Regional Director for Continental Africa for CGIAR.&nbsp...

Farmers Task Govt On Holistic Approach To Challenges 

Farmers’ associations have called on the three tiers of government to employ holistic approach toward addressing the challenges facing the agricultural sector in the country.  The Chairman, All Farmers A...

Oil Palm: Fayus Begins Harvest In Edo

Fayus Incoporated, a major investor under the Edo State Oil Palm Programme (ESOPP) has commenced harvest on one of its plantations measuring 1200 hectares in Ewan-ISI in Uhunwonde Local Government Area of Edo S...

Education

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Lagos Unveils Mobile Learning Devices 

The Lagos State Government has described its Unified Scheme of Work and launch of Mobile learning devices/E-Books for secondary school students as ground-breaking and designed to revolutionise teaching and lear...

UNICAL Research Teams Win N63m TETFUND Grants  

The University of Calabar three out of the six research teams that submitted full proposals to Tertiary Education Trust Fund (TETFUND) have been awarded grants to carry out key researches.  Director of Res...

Fidelity Bank Boosts Education Delivery In Kano  

As part of measures to support the delivery of quality education in the country, Fidelity Bank Plc has donated several learning materials to the Asmau Dambatta Foundation in Kano State.  “At Fidelity Bank, w...