Economy Archives — Page 169 of 259

May 6, 2022 No Responses

AfDB Secures $15.6b For Lagos-Abidjan Highway Construction

The president, African Development Bank (AfDB), Dr Akinwumi Adesina says the bank has secured 15.6 billion dollars investment for the construction of the Lagos-Abidjan highway. Adesina tweeted this on his twitter handle @akin_adesina obtained by the News Agency of Nigeria...

May 6, 2022 No Responses

NDIC Begins Verification Of Depositors In Three Failed Micro-Finance Banks

The Nigeria Deposit Insurance Corporation (NDIC) is to commence the claims verification of depositors of the three Micro-finance Banks (MFBs) whose licences were revoked by the Central Bank of Nigeria (CBN). The NDIC said on Thursday in its official Twit...

May 5, 2022 No Responses

OPEC Raises Nigeria’s Production Quota To 1.772mbpd For June

The Organisation of the Petroleum Exporting Countries (OPEC) has raised Nigeria’s oil production quota from the 1.735 million barrels per day (mbpd) target approved in May 2022 to a new target of 1.772mbpd for June 2022. A statement issued...

May 5, 2022 No Responses

Nigerian Freight Forwarders In U.S Seek Review Of New Clearing Fees

Two Nigerian Freight Forwarders operating in Houston, Texas, United States, have appealed to the Federal Government and the Nigeria Customs Service (NCS) to review the new levy on imported used vehicles. Ms Adetutu Adeparusi, Automated Logistic Ma...

May 5, 2022 No Responses

Access Bank Partners FG, To Roll Out Loans For Farmers, SMEs

Access Bank Plc has partnered the Ministry of Humanitarian Affairs, Disaster Management and Social Development to roll out a loan scheme for poor farmers aged 18 years to 55 years and other vulnerable groups. In statement on Thursday, the ban...

May 5, 2022 No Responses

Dangote Cement Ramps Up Production At Okpella Plant, Attains N105.9 b Profit In Q1

Dangote Cement Plc, has ramped up production at its newest plant, in Okpella, Edo State as its earnings per share rose by 16.8 per cent to N6.18 for the first quarter ended March 31, 2022. Chief Executive Officer, Dangote Cement,...

May 4, 2022 No Responses

Edo MSMEs Can’t Afford N40,000 Minimum Wage, Says BENCCIMA

Micro, Small and Medium Scale Enterprises (MSMEs) in Edo State will find it challenging to pay N40,000 minimum wage, the Benin Chamber of Commerce, Industry, Mines and Agriculture (BENCCIMA) has said. The State Governor, Godwin Obaseki on May ...

May 4, 2022 No Responses

Dangote Cement Completes N116b Bonds

‘ Dangote Cement has completed its N116 billion series 2 bond issuance which is the largest corporate bond issuance in the Nigerian capital market. In a statement published on the Nigerian Exchange Ltd Website on Wednesday, the company expla...

May 4, 2022 No Responses

Lekki Port: Nigeria To Earn $201b, Generates 169,972 Jobs

The Federal Government of Nigeria and the Lagos State government will earn revenue of over $201 billion in 45 years and generate 169,972 jobswhen the Lekki Deep Sea Port becomes fully operational, Minister of Information and Culture, Alhaji Lai Mohammed s...

May 3, 2022 No Responses

Nigeria To Host Gulf Of Guinea Maritime Security Conference

The Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Navy in partnership with the Inter-Regional Coordination Centre (ICC) Yaoundé have concluded arrangements to host the fifth plenary of the Gulf of Guinea Mari...

May 2, 2022 No Responses

NPA Implores Stakeholders On Rules, Regulations

The Nigerian Ports Authority NPA has pledged to ensure every port player plays by the rule of engagement. The General Manager, Monitoring and Regulatory Services, Eniola Williams gave the assurance in Lagos, during a tour of the ports, by the...

May 1, 2022 No Responses

Indians In Nigeria Laud Inauguration of Nigeria-India Business Council

Indians in Nigeria have expressed excitement over the newly inaugurated Nigeria-India Business Council designed to further strengthen the bilateral relations between the two countries. General Secretary of the Afro Asian Initiative for Community Developm...

April 30, 2022 No Responses

20 Pension Fund Administrators Meet Deadline For N5b Minimum Capital

Twenty Pension Fund Administrators (PFAs) met PenCom’s deadline to increase their Minimum Regulatory Capital (shareholders’ fund) from N1 billion to N5 billion by April 27. Pension Commission (PenCom) made the declaration in a statement it issued in Lag...

April 30, 2022 No Responses

Nestlé Nigeria Attains N18b Profit In Three Months

By citybusinessnews@yahoo.com — For the first quarter ended March 31, 2022, Nestle Nigeria Plc has declared profit after tax of N 18.0 billion. According to the unaudited financial statements, the company recorded a revenue of N 110.2 billion ...