All posts by Ifreke Inyang

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  Thailand to help Nigeria in rice, cassava production

  Thailand is to help Nigeria to improve the local production of rice so as to reduce the importation of the commodity and to add value to cassava production. The Deputy Prime Minister and Minister of Foreign Affairs,...

  • Posted August 21, 2013
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  Fashola urges Nigeria-Russia collaboration on railway development

  Lagos state governor, Babatunde Fashola has canvassed for mutual collaboration between Nigeria and Russia in the development of rail transportation saying it was the only way to safeguard and guarantee long life span for roads and highways...

  • Posted August 21, 2013
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  Labour Union demands 15% employee contribution in pension amendment

  The Vice President, Nigeria Labour Congress, Isa Aremu, has said that the group is demanding a total contribution of 15% from employers, towards employees’ pension plan. While discussing the proposed amendment of the 2004 pension act on...

  • Posted August 21, 2013
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  Foreigners have invested $5.11b in FG bonds as at December – DMO boss

  Director-General of the Debt Management Office (DMO), Dr. Abraham Nwankwo, at the weekend urged Nigerian companies to take full advantage of the agency’s modest achievements in management of the nation’s public debt and awareness created about the...

  • Posted August 20, 2013
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  $200m debt: AMCON finally takes over Aero; gets new MD, board

  Indications at the weekend were that the Assets Management Corporation of Nigeria (AMCON), has assumed ownership of Aero Contractors, the nation’s oldest surviving and second largest airline over debts estimated at about $200 million (about N32 billion)....

  • Posted August 20, 2013
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  ALSCON to transfer 360MW electricity to national grid

  The Aluminium Smelter Company of Nigeria has said it will transfer 360MW of electricity to the national grid as part of its support for the development of the nation’s power sector. The company, which said Nigeria currently...

  • Posted August 20, 2013
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  Lending: CBN simplifies collateral requirements for SMEs

  The Central Bank of Nigeria has unveiled plans to simplify the collateral requirement for lending to Micro, Small Medium-Scale Enterprises. This move, according to the Director, Development Finance Institution, CBN, Mr. Paul Eluhaiwe, will enable the MSMEs...

  • Posted August 20, 2013
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  Increase in food prices pushes inflation to 8.7%

  The National Bureau of Statistics on Sunday released the Consumer Price Index report, indicating that the increase in the prices of meat, oils, potatoes, yams and other tuber classes had pushed the inflation rate up by 8.7...

  • Posted August 20, 2013
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  FG commits N70.2bn euro bond to gas infrastructure

  The Federal Government has announced the allocation of N70.2bn ($450m) for the improvement of gas infrastructure across the country. This, it said, was aimed at addressing the gas supply problems, which have led to a sharp reduction...

  • Posted August 20, 2013
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  Lagos State appoints Heritage Bank as revenue collection bank

  Heritage Bank has been appointed as a Lagos State revenue collection bank using the Lagos State Electronic Banking System of Revenue Collection and Monitoring (EBS-RCM) payment platform. This is coming on the heels of similar mandates from...

  • Posted August 19, 2013
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