City BusinessNews, Author at City Business News

January 31, 2020 No Responses

Prices Of Vehicles May Soar As NADDC Proposes 125% Import Tariff

Nigeria’s automotive sector regulator, National Automotive Design and Development Council (NADDC) has proposed 100 per cent import tariff for Fully Built Units (FBUs) and 125 per cent for used cars. The Federal Government had in November 2013, raised duty and...

January 31, 2020 No Responses

Market Capitalisation Drops By N41b

Transactions on the Nigerian Stock Exchange(NSE) on Thursday maintained downward trend for the fourth consecutive trading day with the market indicators extending its losing streak by 0.27 per cent. The News Agency of Nigeria (NAN) reports that the market capi...

January 31, 2020 No Responses

Navy Impounds 2,053 Bags Of Rice

The Forward Operating Base (FOB) of the Nigerian Navy in Ibaka, Mbo Local Government Area of Akwa Ibom, has arrested 13 suspects and seized 2,053 bags of smuggled rice in Akwa Ibom. The Commanding Officer of the FOB, Cpt. Peter...

January 31, 2020 No Responses

Kano Spends N500m To Train 200 Auto Mechanics‎

The Kano State Government said it had spent N500 million on training and empowerment of 200 youths as mechanics, panel beaters and welders at the Peugeot Automobile and Nigeria Training Centre, Kaduna. Governor Abdullahi Ganduje disclosed this on Thursday duri...

January 30, 2020 No Responses

DBN Disburses N133b To MSME’s In 18 months

In the last 18 months, Development Bank of Nigeria (DBN) disbursed a total of N133 billion to Micro, Small and Medium Enterprises (MSMEs) operators across the country. The DBN Managing Director, Mr Tony Okpanachi, disclosed this at the ongoing Nigerian...

January 30, 2020 No Responses

Nigeria, India Sign MoU On Sugar Institute

The National Sugar Institute (NSI) of India and the National Sugar Development Council (NSDC), on Wednesday signed an Memorandum of Understanding (MoU) for the establishment of a Sugar Institute in Nigeria. The MoU was signed by the Executive Secretary of...

January 30, 2020 No Responses

Lagos Issues N100b Bond For Infrastructure Development Bond

The Lagos State Government on Wednesday announced the issuance of N100 billion Series III Bond under its N500 billion bond issuance programme. Speaking at the signing of the bond in Ikeja, Lagos State Governor, Babajide Sanwo-Olu, said that the bond...

January 30, 2020 No Responses

Senate To Buhari: Declare National Security Emergency

The Senate has urged President Muhammadu Buhari to as a matter of urgency declare a National Security Emergency to address the escalating challenges of insecurity faced by the country. The call was made moments before the upper chamber adjourned plenary...

January 30, 2020 No Responses

Market Capitalisation Drops Below N15tri Mark

The market capitalisation of the Nigerian Stock Exchange (NSE) on Wednesday dropped to N14 trillion mark due to persistent profit taking. Specifically, the market capitalisation which opened at N15.132 trillion shed N138 billion or 0.91 per cent to close at...

January 29, 2020 No Responses

Guinness To Boost Water Supply In Edo, Kano, Others With N480m

Guinness Nigeria Plc has pledged to provide N480 million for the provision of clean drinking water for communities in five states. According to its Sustainable Development Manager, Mrs Titilola Alabi, the beneficiaries of the 10-year project are: E...

January 29, 2020 No Responses

Buhari To MTN Chairman: We’ll Provide Enabling Environment For Businesses To Thrive

The Federal Government is committed to providing an enabling environment for businesses to succeed, as partnerships between the public and private sectors remain the most viable means of bringing prosperity to the masses. President Muhammadu Buhari gave the as...

January 29, 2020 No Responses

Factors Behind The Success Of Kia Motors, By Auto Expert

With regular vehicle launches and high localization, Kia Motors is pushing the right buttons in India. According to Animesh Kumar, Director of Automotive Consulting at GlobalData, a leading data and analytics company, Kia has continued to sustain its growth ac...

January 28, 2020 No Responses

Dangote Tomato Decries Alleged Importation Through Seaports, Seeks Effective Surveillance

The Managing Director of Dangote Tomato Processing Company, Alhaji Abdulkarim Kaita, has called for effective surveillance at the nation’s seaports as part of measures to check alleged importation of tomato paste by unpatriotic Nigerians. He told the News Ag...

January 28, 2020 No Responses

FG Advises States On Realistic Industrial Plan

To revive the sector for economic development and job creation, the Minister of State, Trade, Industries and Investment, Maryam Katagum has advised States to develop a realistic industrial plan. Katagum stated this while answering questions from Journalists in...