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All posts by BusinessNews Staff

  • FG moves to bridge $2.4tn infrastructure funding gap

    The federal government will soon begin the implementation of a strategic investment master plan to bridge the country’s huge infrastructural funding gap estimated at about $2.4 trillion within the next 30 years. The Executive Secretary/Chief Executive Officer,...

    • Posted February 26, 2015
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  • FG promises to pay N264bn outstanding subsidy claims by March end

    The Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala has promised that the federal government will pay N264 billion to fuel marketers as outstanding claims on subsidy, FOREIGN EXCHANGE differentials and interest on...

    • Posted February 26, 2015
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  • Senators attack Okonjo-Iweala over poor budget implementation

    Senators on Tuesday accused the Minister of Finance, Dr. Ngozi Okonjo-Iweala, of destroying the economy by allegedly withholding funds meant for capital projects. The senators, who met behind closed doors for about two hours, were analysing the...

    • Posted February 26, 2015
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  • Obasanjo never inaugurated Olorunsogo ll Power Station – NDPHC

    The Niger Delta Power Holding Company Limited (NDPHC), owners of the National Integrated Power Project (NIPP), has refuted reports that the 750 megawatt-capacity Olorunsogo Phase 2 Power Plant built under the NIPP in Ogun State, which was...

    • Posted February 26, 2015
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  • Power generation drops as Seplat Petroleum shuts down Oben Gas Plant

    Electricity generation in the country has dropped as Seplat Petroleum Development Company Plc shuts down the Oben Gas Plant, a joint venture between the company and the Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian...

    • Posted February 26, 2015
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  • FAAN allays fears of blackout at Lagos airport

    The Federal Airports Authority of Nigeria has denied a report making the rounds that it is indebted to a power distribution company. It also said there was no plan by the Ikeja Electricity Distribution Company to cut...

    • Posted February 26, 2015
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  • 35% levy on Tokunbo vehicles begins July 1

    The implementation of the 35 per cent import levy on used cars will now begin on June 30, 2015 as the Federal Government has once again shifted the commencement date by two months. In a move to...

    • Posted February 26, 2015
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  • Transport fares remain high despite fuel price reduction

    One month after the Federal Government reduced the pump price of fuel by over 10 per cent, the reduction has not reflected on the cost of transportation across the country. Findings by our correspondent on Tuesday showed...

    • Posted February 26, 2015
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  • NIPC woos investors with new tax regime

    The Executive Secretary, Nigerian Investment Promotion Commission, Mrs. Saratu Umar, has said that the commission plans to initiate a new tax regime as a means of wooing foreign and local investors into the economy. Umar, who spoke...

    • Posted February 26, 2015
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  • SEC boss, Gwarzo to lead regulators in Africa, Middle East

    Nigeria’s capital market got another international recognition on Tuesday as the acting Director General of the Securities and Exchange Commission (SEC),  Mr. Mounir Gwarzo, was elected as Chairman of the Africa/Middle East Regional Committee (AMERC) of the...

    • Posted February 26, 2015
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