Business

Rivers, Zamfara Missed Out as FG Disburses N123.34bn Grants to States

The Federal Government has disbursed another round of performance-based grants to states in the sum of N123.348bn ($324.6m) under its States Fiscal Transparency Accountability and Sustainability Programme for Results. Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this in a statement issued in Abuja on Wednesday by the …

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Twitter Suspends Trump’s Account Permanently

Twitter has permanently suspended the United States President Donald Trump’s account for inciting violence. The social media network made this known in a blog post titled ‘Permanent suspension of @realDonaldTrump’ on Friday. “After close review of recent Tweets from the @realDonaldTrump account and the context around them — specifically how they are …

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Atiku Divest Shares in Intels, Blames Buhari for Misfortune

A Former Vice-President of Nigeria, Atiku Abubakar, Monday announced his move to divest his shares in Integrated Logistics Services Limited (Intels), blaming President Muhammadu Buhari administration as “preoccupied with destroying” it since 2015. A statement issued by Abubakar’s spokesperson Paul Ibe, accused Buhari-led government of going after the business, adding: …

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NNPC Focusing on Third Party Financing For Oil Projects– Official

The Nigerian National Petroleum Corporation on Tuesday said it was currently focusing on third party financing of oil and gas development projects. Group Managing Director, NNPC, Mele Kyari, said this while playing host to the Chairman, Revenue Mobilisation Allocation and Fiscal Commission, Elias Mbam. Kyari told his guest that there …

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Average Cost of Internet Data Reduces to N487.18 in 2020

The average cost of 1GB of data has reduced from the January 2020 cost of N1,000 to N487.18 in November, 2020, a report by the Nigerian Communications Commission (NCC) submitted to the Minister Communications and Digital Economy, Dr Isa Ali Ibrahim Pantami, has revealed. A statement by Dr Femi Adeluyi …

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APPO to Cite Headquarters in Nigeria, Earmarks US$1bn for Start

President Muhammadu Buhari has welcomed the decision of the African Petroleum Producers’ Organisation (APPO) to cite the headquarters of the African Energy Investment Corporation in Abuja, pledging the full support of the country in ensuring the successful take off of the organisation. At a meeting with Dr. Omar Farouk from …

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Nigerian Govt Disburses N10bn to SMEs

The Minister of State, Industry, Trade and Investment, Mariam Katagum said N10billion was disbursed to artisans who applied under the Micro Small and Medium Enterprise (MSMEs) survival fund. Katagum who is the Chairperson, Steering Committee on survival fund and guarantee off-take schemes, stated this at a press briefing in Abuja. …

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Dantata Foods Signs US$100mn Deal with UK Firms to Pioneer Regenerative Agriculture

In its quest to adopt technology for efficient, effective and climate friendly operations, Nigeria’s Dantata Foods and Allied Products Company Limited has signed an agreement with a United Kingdom based Agric-technology firm, RegenFARM Limited, and the Foreign Commonwealth Development Office of the British Government under its Agricultural sector intervention (LINKS …

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Nigerian Govt Grants 3 Years Tax Holidays to 37 Companies

Lafarge Africa Plc, Honeywell Flour Mills Nigeria Plc, Dangote Sinotrucks West Africa, and 34 other firms have been identified as companies currently enjoying Pioneer Status Incentive of the Federal Government. The Nigerian Investment Promotion Commission in its third-quarter report on Pioneer Status Incentive applications made public on Wednesday stated that …

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