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Economy
Sovereign wealth fund declares N46.5bn profit for 2018
NIGERIA Sovereign Investment Authority (NSIA) Tuesday declared a group profit of N46.5 billion for the 2018 financial year.Managing Director of NSIA, Mr Uche Orji who briefed the press said: “the results show strong performance in a…
States must improve their IGR in next few years — Osinbajo
VICE President Yemi Osinbajo says there is the need for states to explore ways of improving their Internally Generated Revenue (IGR) in the next few years.Osinbajo said this on Monday at the opening of the Induction of New and Returning…
SON confiscates N300bn worth of substandard products — DG
THE Standards Organisation of Nigeria (SON) said on Wednesday that it confiscated fake and substandard products worth more than N300 billion across the country within the past few months.Top on the list of seized products were…
AfDB invests $258m on rehabilitation of damaged infrastructural facilities in N/East ― Adesina
THE African Development Bank (AfDB) has so far invested 258 million dollars towards the rehabilitation of damaged infrastructural facilities in the Northeast region of the country.The President of AfDA, Nigeria’s Dr Akinwumi Adesina,…
Dangote salt reward drivers for accident-free 2018
NASCON Allied Industries, subsidiary of Dangote Group, said it would continue to honour its workers just as it rewarded its truck drivers for meeting product delivery target and driving accident-free in 2018.Mr Anthony Chiejina, the…
FG begins fresh move to raise N250bn to recapitalise BOA
THE Federal Government has begun the 'final' move to recapitalise the Bank of Agriculture (BOA), which is expected to reposition the Bank as almost a private sector driven financial institution, and will be able to give out loans to farmers…
Over 5m Nigerians still unmetered, says NERC
THE Nigerian Electricity Regulatory Commission (NERC) on Monday said over five million Nigerian electricity consumers were unmetered.Mr Abdulkadir Shettima, NERC General Manager, made this known at the launch of a Mojec International…
Diversification of Economy: CBN disburses N174.58bn to 19 financial institutions
DETERMINED to improve the diversification of the nation's economy, the Central Bank of Nigeria (CBN) has said it has disbursed over N174.48billion through 19 participating financial institutions to finance 902,518 farmers in Nigeria.…
PTAD spends N79.1bn on monthly pension in 2018 ― Ikeazor
THE Pension Transitional Arrangement Directorate (PTAD) said it has spent N79.1 billion on payment of monthly pension to pensioners in 2018.The Executive Secretary of PTAD, Ms Sharon Ikeazor, made this known at a one-day interactive…
Bayelsa govt commends FG for upgrading Gbarantoru transmission substation
BAYELSA government has commended the Federal Government for upgrading the 2x40MVA power transformer to 1x90MV at the Gbarantoru 132/33KV transmission substation in Bayelsa.Mr Peter Afagha, Commissioner for Power in Bayelsa, gave the…