Economy

Lagos government to invest on meat industry

Lagos government to investing in value adding infrastructure with stakeholders in the meat industry to provide sought-after quality products for the benefit of Nigerians. In a keynote address during the Conference of Southwest Directors of Veterinary Services in Lagos, Commissioner for Agriculture, Ms. Abisola Olusanya, said the state was ready to partner private operators to produce high-quality…
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AutomobileMarket

OPEC reveals Nigeria loses N101bn on oil

Nigeria’s crude oil production plunged by 2.3 million barrels in July 2022 when compared to what the country produced in the preceding month of June, data from the Organisation of Petroleum Exporting Countries showed on Thursday. In its latest Monthly Oil Market Report for…
Economy

Federal govt. needs precaution in rising debt LCCI warns

The Lagos Chamber of Commerce and Industry has expressed worries over debt servicing cost of the Federal Government and advised it to consider deficit financing from equity instead of expensive debts spent on recurrent expenditures. The chamber made the call in a statement…
EconomyMarkets

Amidst CBN ban bitcoin increases rapidly on Nigeria trade rate

Nigerians traded N497.35bn ($1.16bn) worth of Bitcoin from the beginning of 2021 to June 2022, indicating an increasing prominence of the digital currency in the nation. This is despite the Central Bank of Nigeria’s restriction on cryptocurrencies in the nation. In February 2021, the CBN had said, “Further to earlier regulatory directives on the subject, the bank hereby wishes to remind…
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Energy

Eterna records N4.1bn gross profit in half year

An integrated energy provider, Eterna Plc, said it recorded N4.1bn gross profit for the half year ended June 30, 2022. It said in a statement on its half-year financial statements released on the floor of the Nigerian Exchange Limited, that this was 57.9per cent increase…
Economy

Why Nigerians must place equal value on importation over exportation

A Professor of Economics at Covenant University, Ota, Jonathan Aremu, has said Nigeria must place equal emphasis on importation to maximally gain from the Africa Continental Free Trade Agreement. Aremu made the call recently while presenting a paper titled ‘Accelerating the AfCFTA Implementation in Nigeria’. The academician, who is a former Assistant Director of Research at the Central Bank of…
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Energy

Seplat denies ExxonMobil deal cancellation

Seplat Energy, on Thursday, said it had not received any official notification from the Federal Government reversing its proposed acquisition of the entire share capital of Mobil Producing Nigeria Unlimited. The company also said it was seeking clarification from relevant…
Economy

NCC expects proliferation of devices

Executive Vice Chairman, Nigerian Communications Commission (NCC), Prof. Umar Danbatta, has said emerging technologies and advancements in the sector demand that the Commission is prepared to match these developments with appropriate regulations and guidelines. With the…
Economy

Buhari reverses approval for Seplat to buy ExxonMobil shares

President Buhari has reversed his approval of Seplat Energy’s purchase of ExxonMobil’s assets. Special Adviser to the President on Media & Pubcity, Mr Femi Adesina, had, two days ago, said President Buhari approved the purchase of ExxonMobil share by Seplat. Revealing the latest development, however, Special Assistant to the President on Media & Publicity, Mallam Garba Shehu, told an…
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