Category: Economy

Buhari’s visit: US to repatriate $500m looted fund

Buhari’s visit: US to repatriate $500m looted fund Buhari

The visit of President Muhammadu Buhari to U.S. President Donald Trump has yielded the finalisation of negotiations to repatriate more than 500 million dollars (about 190 billion Naira) of Nigeria’s looted money traced to the U.S. Nigeria’s Attorney-General and Minister of Justice, Abubakar Malami, told the Correspondent of the News Agency of Nigeria (NAN) in […]

Nigeria Airways pensioners to be paid after Easter – Aviation Minister

Nigeria Airways pensioners to be paid after Easter – Aviation Minister

A glimpse of hope arose for the over 5,000 former staff of the defunct national carrier, Nigeria Airways, as the minister of state for aviation, Hadi Sirika, announced the government’s readiness to clear their pension arrears after the Easter holiday. The minister gave the hint at the Fourth Aviation Stakeholders Forum held in Abuja on […]

Oyo/Osun Customs makes N16b in 11 months

Oyo/Osun Customs makes N16b in 11 months

The Oyo/Osun command of the Nigerian Customs Service said it has generated N16.18b in revenue in the last eleven months. The command Controller, Elisha David Chikan, disclosed this to journalists in Ibadan on Tuesday while showing them some seizures made within the last two months. Chikan informed that the revenue was in excess of N13.5b, […]

Oyo proposes N267b for 2018 fiscal year

Oyo proposes N267b for 2018 fiscal year 2018 fiscal year

The Oyo State governor, Abiola Ajimobi, presented a budget of N267 Billion for the 2018 fiscal year to the state House of Assembly on Thursday tagging it ‘Budget of Stabilisation. Though the governor could not provide the details before the lawmakers, saying the state ministry of finance would do the job later, he informed that […]

Contraband: Customs impound Dangote truck, others

Contraband: Customs impound Dangote truck, others Dangote

For allegedly conveying contraband items, the Ogun Area Command of the Nigerian Customs Service, Ogun Area Command has seized a truck belonging to Dangote Group. The track was loaded with 600 bags of rice suspected to have been smuggled when men of the service intercepted it along the Sagamu interchange. According to the Customs Comptroller […]

AfDB to create 25m jobs for youths

AfDB to create 25m jobs for youths AfDB

The President, African Development Bank Group (AfDB), Dr. Akinwumi Adesina, has launched the Presidential Youth Advisory Group (PYAG), an initiative that will create 25 million jobs. PYAG, launched on the side-lines of the 6th EU-Africa Business Forum in Abidjan, would provide insights and innovative solutions for job creation for Africa’s youth as outlined in the […]

How hoodlums vandalized 200 transformers in Anambra – Electricity official

How hoodlums vandalized 200 transformers in Anambra – Electricity official Electricity

The Network Manager of Enugu Electricity Distribution Company (EEDC), Samuel Onuoha, has given account of how hoodlums vandalized about 200 transformers within the company’s jurisdiction between January and November, 2017. Onuoha expressed regrets over the development  while addressing a group of protesters, who were at the EEDC office in Awka on Monday. He said 50 […]

Modular refineries: We’received 7 applications from Delta – Nigerian Govt

Modular refineries: We’received 7 applications from Delta – Nigerian Govt Modular Refineries

Nigeria’s Minister of State for Petroleum Resources, Ibe Kachikwu, said on Thursday that the effort to further deregulate the nation’s downstream sector is yielding positive results as a total of seven applications are being processed for the establishment of modular refineries in Edo State alone. The minister, who made the disclosure at a Stakeholders Engagement […]

Nigerian tax systems too exploitative – Abiola-Peller

Nigerian tax systems too exploitative – Abiola-Peller Tax System

A business mogul, Shina Abiola-Peller, has traced low investment in Nigeria’s tourism sector to multiple taxation, describing the nation’s tax system as being too exploitative. Abiola-Peller, who delivered a lecture at the Press Centre of the Nigeria Union of Journalists (NUJ), Oyo State council on Tuesday, recommended review and harmonization of taxes among tiers of […]

244 Osun retirees get N1.7b bond

244 Osun retirees get N1.7b bond Osun retirees

A total of 244 retirees from the Osun State Civil Service have been issued N1.682bn worth of bonds. This was disclosed by the Permanent Secretary, Local Government Staff Pension Bureau of the State, Mr. Kayode Afolabi, during a ceremony to mark the presentation of certificates to beneficiaries in Osogbo, the state capital. Giving the breakdown […]