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Customs denies spending N1.6 billion on recruitment exercise alone

The Nigeria Customs Service (NCS) has denied the claim of the Vice Chairman, Senate Committee on Customs, Ade Fadahunsi, that it paid a consultant the sum of N1.6 billion to conduct recruitment exercise for 3,200 people to the service. NCS insisted that the N1.6 billion was paid to the consultant for both the recruitment and training for […]

Startups in Facebook accelerator programme raise $500,000

The second season of the Facebook Accelerator Programme has so far raised $500,000 in investments and grants. This feat has been recorded just three months into the on-going programme. The achievement was disclosed by Facebook and CcHUB. Startups in the programme also recorded significant milestones as they sealed key partnerships and made progress towards creating unique products with world-class […]

Delta earns $1.6 billion profit, 30% rise in income

Delta Air Lines yesterday posted a profit of $1.6 billion following a successful year that earned 30 per cent more in income. The groups’ total revenue increased to a record $47 billion, up 7.5 per cent when prior-year period is adjusted for third-party refinery sales and the sale of DAL Global Services (DGS). Total expense […]

NESG urges Nigeria to maximise AfCFTA opportunities

Latest technical report by Nigerian Economic Summit Group (NESG), has revealed that the African Continental Free Trade Area (AfCFTA), may lead to one of two outcomes; a win-win outcome for all African countries, or a zero-sum game in which the gain of one country becomes the loss of another and vice versa. NESG in its, […]

Nigeria’s rice import declines by 3.7MMT, says NEPC

Nigeria’s import of foreign rice must have declined by 3.7 million metric tonnes, the Nigeria Export Promotion Council has said. The Chief Executive Officer of  NEPC, Mr Segun Awolowo, said in Jos, Plateau State, on Wednesday that with Nigeria’s rice production put at 4.9MMT, dependence of the country on foreign rice must have declined from […]

FG implements Finance Act, charges 7.5% VAT on transactions Published January 16, 2020

The Federal Government has begun the implementation of some aspects of the Finance Act with the imposition of 7.5 per cent Value Added Tax on government transactions. The Accountant-General of the Federation, Alhaji Ahmed Idris, confirmed the development in an interview with journalists on Wednesday in Abuja. The move followed the signing of the finance […]

Turkey eyes road contracts, others in Nigeria

The Republic of Turkey is looking to increase its trade volume in Nigeria in road construction and engineering, the country’s Minister of Trade, Rushar Pekan, has said. Pekan, in company with the Turkish Ambassador to Nigeria, Melih Ulueren, and some Turkish investors, disclosed this at the Federal Ministry of Works and Housing during a courtesy […]

Hub Africa pitch roadshow application opens

Do you have well thought provoking ideas and solutions on the plaguing issues affecting the growth and development of start- ups and SME’s in Africa?   The HubAfrica roadshow is a platform established for sharing innovations, promoting startup and accelerating enterprise development in Africa.   Apply now to participate in the 8th edition of the […]

Reverse telecoms RoW charge increase, FG tells states

The Federal Government has faulted the hike of Right of Way charges by some state governments. RoW charges refer to fees paid by telecommunications operators to the government for the permission to install some of their infrastructure. The National Economic Council, comprising the 36 states and chaired by the Vice President, had resolved that telecom […]

Freight forwarders decry difficult business terrain at Onne Port, others

CRFFN targets N5b yearly through POF Stakeholders in freight forwarding have decried the difficulty of doing business in the southern part of the country especially in Onne Port of Rivers State. The stakeholders comprising clearing agents from the South South and South East regions lamented the deplorable state of roads to Onne Port where they […]

FG to strengthen economic ties with Turkey

The Federal Government (FG) has reemphasised its plan to strengthen economic relations with the Turkish government to boost trade and investment. The Minister of Industry, Trade and Investment, Adeniyi Adebayo made this known on Tuesday in Abuja at the Nigeria-Turkey Business Forum organised by Foreign Economic Relations Board (DEIK), a leading business organisation in Turkey. The […]

All You Need to Know About Honey Ogundeyi, New Country Director of UK-Nigeria Tech Hub

UK-Nigeria Tech Hub, a new organisation by the UK government, has appointed Honey Ogundeyi as its new country director. Honey herself made the revelation on her social media, where she also announced her acceptance. The UK-Nigeria Tech Hub is a new initiative which keys into one of the four critical pillars of the UK government’s Prosperity Fund […]

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