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The Federal Government through the Bureau of Public Enterprises is currently carrying out transactions for the sale of five power plants under the National Integrated Power Projects at a cost of about $1.15bn, it was gathered on Tuesday. Although sources familiar with the development explained that the cost of the plants should exceed $5bn based on international benchmark, they revealed that the BPE was planning to sell the facilities at […]
As part of measures to revamp the rubber sector towards boosting the nation's economy, the Ministry of Industries, Trade and Investment is to produce a Commodity Policy for Nigeria's Rubber Sector. The Minister of Industries, Trade and Investment, Dr. Doris Uzoka - Anite made this known in Abuja while inaugurating a Local Organizing Committee on the World Rubber Summit. Dr. Uzoka - Anite who described the rubber sector as […]
By Mathew Ayoola A Business Professional Group, Turnaround Management Association of Nigeria, TMA, has attributed inflation and high interest rates for financing of business operations in Nigeria as some of the factors responsible for the number of moribund businesses and companies in the country. The President of the Association, Mr Dele Bello Williams made this known in Abuja during the End of the Year Dinner and Award Ceremony of […]
The West Africa Broadcast and Media Academy (WABMA) has appointed Mike Msuega Yawe as its Executive Director of Business Development, a role that places him in charge of the growth and expansion of the academy. A statement by the Rector of WABMA, Ken Okere says Mr Yawe is joining WABMA at a time when the academy begins to broaden its portfolio of training and offerings to position itself as […]
The Chief of Defence Staff, Major General Christopher Musa, on Tuesday lamented the delay in the trial of suspected Boko Haram members, saying there should be a special court for terrorists. Musa, who stated this when he alongside other security chiefs, appeared before the House of Representatives on Tuesday for the commencement of a sectoral debate, justified the huge budget for arms purchase. The CDS explained that because Nigeria is […]
By Abdullah Bello President Bola Tinubu has told international investors that apart from Nigeria's natural resources, Nigerians, who are highly educated, highly skilled, and naturally industrious, are the primary asset and advantage the country wields. He made the speech at a panel discussion in Berlin, Germany, titled, Fostering Local Value Chains and Investments in Africa - The Role of the German Private Sector at the G20 Compact with Africa […]
By Abdullah Bello President Bola Tinubu has, on the sidelines of the G20 Compact with Africa Economic Conference, met with German Chancellor, Olaf Scholz, where he noted that Nigeria's pursuit of German investment was focused on energy, transportation, and electric power production, transmission, and distribution. Recognising the success of Siemens AG in transforming the Egyptian electric power supply, the President noted that under his leadership, the staggered and unsteady […]
The naira crashed against the dollar on Monday, falling to 1, 030/$ on the average in the parallel market, losing the momentum it gathered last week. This represents a N80 loss or a 8.42 per cent decline of the local currency compared to the N950 it closed the week at last Friday. This is also the first time the naira is falling since the Central Bank of Nigeria began to […]
Sam Bankman-Fried, who once ran one of the world's biggest cryptocurrency exchanges, has been found guilty of fraud and money laundering at the end of a month-long trial in New York. The jury delivered its verdict after less than five hours of deliberations. It concludes a stunning fall from grace for the 31-year-old former billionaire and one of the most public faces of the crypto industry. Bankman-Fried was arrested last […]
