Nigeria Business News

Airtel’s Chief Marketing Officer resigns

Feyisayo Afisunlu — Fri, 24 May 2013 09:09:43 +0000

Mr. Olu Akanmu, the Chief Marketing Officer of one of the leading telecommunication industries in the country, Airtel Nigeria, has resigned his appointment with the company to pursue other interests. This was conveyed in a statement issued by the company and signed by the Vice President, Corporate Communications & CSR, Emeka Oparah, on Thursday. The [...]

Airtel’s Chief Marketing Officer resigns

Jonathan recovers Ajaokuta from Global Steel – Senator Adeyemi

BusinessNews Staff — Fri, 24 May 2013 08:30:02 +0000

CHAIRMAN, Senate Committee on the Federal Capital Territory Committee, Senator Smart Adeyemi (PDP, Kogi West), yesterday, said President Goodluck Jonathan has recovered the dead Ajaokuta Steel Complex in Kogi State from Global Steel Holdings Limited. The move came six years after the company had remained non-functional. Adeyemi noted that the development and bringing back the [...]

Jonathan recovers Ajaokuta from Global Steel – Senator Adeyemi

NRC shops for private investors to drive rail transportation

BusinessNews Staff — Fri, 24 May 2013 08:25:54 +0000

Nigerian Railway Corporation (NRC) is shopping for investors under a Public-Private Partnership initiative to drive railway operations in the country. Managing Director, NRC, Engr. Adeseyi Sijuade, who disclosed this in Lagos, said that the government has reached a conclusion that the corporation cannot be totally transformed without the participation of the private sector. “In this [...]

NRC shops for private investors to drive rail transportation

Effective e-payment system critical to banking services – Sanusi

BusinessNews Staff — Fri, 24 May 2013 08:20:14 +0000

Governor of the Central Bank of Nigeria (CBN), Malam Sanusi Lamido Sanusi, CON, has maintained that effective e-payment system was critical to banking services in the country. Speaking in Lagos during the keynote address at the CBN/Gartner event, Sanusi said that the CBN remains committed to realizing the vision of providing Nigeria with a secure, [...]

Effective e-payment system critical to banking services – Sanusi

FG releases N200bn for second quarter; power sector gets largest share

Wale Odunsi — Fri, 24 May 2013 07:25:01 +0000

The Federal Ministry of Finance on Thursday released the sum of N200 billion for the second quarter of the fiscal year. This it said was to ensure progress in the execution of capital projects captured in the 2013 budget. The Special Adviser to the Minister of Finance, Paul Nwabuikwu, in a statement recalled that N400 [...]

FG releases N200bn for second quarter; power sector gets largest share

FEC approves construction of two dams in Karshi

BusinessNews Staff — Thu, 23 May 2013 18:32:17 +0000

Federal Executive Council (FEC) has approved the construction of two dams in Karshi area of Abuja. Olajumoke Akinjide, Minister of State for Federal Capital Territory (FCT), gave the hint while addressing Ebele Okeke, Water Sanitation and Hygiene (WASH) Ambassador, who paid her an advocacy visit. The minister, who acknowledged the need for safe environment, noted [...]

FEC approves construction of two dams in Karshi

FG commissions Kaduna refinery access road

BusinessNews Staff — Thu, 23 May 2013 18:20:19 +0000

Federal Government today, Thursday commissioned the newly Kaduna Refinery Access road, in Kaduna state. Bashir Yuguda, Minister of State for Works, who performed the ceremony reiterated the present administration’s commitment towards provision and upgrading of critical road infrastructure to International standards across the country. The Minister stated that provision of good roads is one of [...]

FG commissions Kaduna refinery access road

FG offers 100% repatriation of profits to foreign investors

BusinessNews Staff — Thu, 23 May 2013 18:15:55 +0000

Federal Government today, Thursday, rolled out robust incentives for foreign investors who are willing to invest in the country, according to Vice President Namadi Sambo. Other incentives include 100 percent repatriation of profits, 140 percent capital allowance in research development, 20 percent capital allowances for five years on local raw materials utilisation as well as [...]

FG offers 100% repatriation of profits to foreign investors

Reps fault NNPC over non-payment of N142billion

BusinessNews Staff — Thu, 23 May 2013 17:37:29 +0000

Members of the House of Representatives today, Thursday, expressed displeasure over the failure of Nigerian National Petroleum Corporation ((NNPC) to remit the sum of N142 billion to the Consolidated Revenue Fund (CRF) as provided by the law. The Corporation, which realised whopping sum of N6 trillion between 2009 and 2012 allegedly decline to comply with [...]

Reps fault NNPC over non-payment of N142billion

FAAN evacuates abandoned aircraft at Abuja airport

Wale Odunsi — Thu, 23 May 2013 15:57:43 +0000

The Federal Airports Authority of Nigeria,FAAN,has embarked on the removal of abandoned aircraft at Nnamdi Azikiwe International Airport, Abuja, DailyPost has gathered. Chris Bature, the General Manager, North Central, FAAN, disclose this in Abuja on Wednesday, affirming that 70 per cent of the abandoned aircraft had been removed. Bature said six out of the eight [...]

FAAN evacuates abandoned aircraft at Abuja airport