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DPR bans retail of cooking gas in shops, homes

The Department of Petroleum Resources  said it would clamp down on illicit retailers of Liquefied Petroleum Gas (LPG) popularly known as cooking gas in Rivers. DPR’s Port Harcourt Zone Operations’ Controller, Mr Bassey Nkanga, told the News Agency of Nigeria (NAN) of the planned clampdown on the sideline of LPG stakeholders’ meeting in Port Harcourt […]

Five bidders jostle for Afam Power and Yola Electricity Distribution Company

The Bureau of Public Enterprises has received financial and technical bids from five firms who are interested in purchasing the 51 percent stakes in Afam Power Plc and Yola Electricity Distribution Company. According to the Head of Public Communications at the Bureau of Public Enterprises, Amina Othman, the bids were received from the prospective core-investors last week Friday, March 15, […]

I-Invest generates over N2 billion transaction in less than 6 months

Figures from the National Bureau of Statistics (NBS) show that 50% or $8.4 billion of the foreign capital imported into Nigeria last year, went to money market securities. The most liquid form of money market securities are treasury bills which are sold by the CBN every two weeks. The key buyers of these instruments were foreign investors. […]

Number of cars on Nigerian roads hit 11.8m in a year

Latest figures from the National Bureau of Statistics (NBS) have shown that there were about 11.8 million licensed cars on Nigeria’s roads as at Q4 2018, compared to 11.6 million in the corresponding period of 2017. According to the report, Nigeria witnessed a 2% increase in the number of licensed cars year on year; that is between […]

BPE to fix Problems Preventing Growth of Privatised Enterprises

The Bureau of Public Enterprises (BPE) has inaugurated four committees to come up with a mechanism for addressing the complexities and challenges hindering the growth and development of some privatised enterprises in the country, which were taken over by core investors over 10 years ago. BPE’s step is a calculated attempt to ensure that privatised […]

CBN set to Launch MfBs in 774 Local Government Areas

The Central Bank of Nigeria (CBN) unveil  it plans to establish Microfinance Bank (MfBs)  in all the 774 local government areas of the country. The Governor of Central Bank, Mr. Godwin Emefiele, announce the plan at Gwagwalada, Abuja while on a facility tour of Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) MfB, an […]

N298 billion was raised from Value Added Tax in Q4 2018

The National Bureau of Statistics said Nigeria generated N298.01 billion from Value Added Tax in the fourth quarter, 2018. NBS said this in a Sectoral Distribution of VAT report for the fourth quarter, 2018 posted on its website. The News Agency of Nigeria reports that VAT is a consumption tax placed on a product whenever […]

In the Last Four Years, Nigeria Receive USD 43Billion Investment

According to a fresh report from the National Bureau of Statistics, Nigeria attracted USD 43 Bn worth of investments between January 2015 and December 2018. Based on the current naira to dollar exchange rate of the CBN, the USD 43.81 Bn is equivalent to about NGN 13. 36 Tn. According to a document retrieved from […]

South Africa, Malaysia ,China & India to take part In 30th Enugu International Trade Fair

ENUGU – China, South Africa and India have indicated interest to participate in the 30th edition of Enugu International Trade Fair, slated to hold in April. Emeka Udeze, President, Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) made this disclosure in Enugu on Tuesday at a press launch/briefing for the 30th Enugu International Trade […]

ECCIMA: Nigeria need to Upbeat about Economic Affair

ENUGU- THE Enugu Chamber of Commerce, Mines and Agriculture, ECCIMA has told Nigerians that apart from the election temperaments, they need to be upbeat about economic affairs. The chamber stated its concern on the issue of deepening democracy in Nigeria, noting that it was only with a thriving economy and free enterprise that the nation’s […]

Heritage Bank set to Support Technology Start-ups

Heritage Bank Plc has launched its innovation accelerator programme tagged, “HB LAB”. The maiden edition of HB LAB is a 12-week programme, expected to provide technology startups with enabling environment, resources and support required to innovate and accelerate impactful solutions with the potential to radically improve financial Inclusion/Intermediation, agriculture and other related problems affecting critical […]

FAAC disbursed N270.17 billion to federal government in January

The Federation Account Allocation Committee (FAAC), disbursed the sum of N270.17 billion to the Federal Government in January, 2019, the National Bureau of Statistics (NBS) has disclosed. The NBS said this in FAAC January, 2019 Disbursement statistics posted on its website. According to the bureau, the states received a total of N178.04 billion while local […]

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