Ikeja Electric condemns growing attacks on staff, installations in Lagos
Ikeja Electric, Nigeria’s largest power distribution company has decried the increasing spate of violent attacks against its staff. A class example of the attacks is the latest at Akowonjo, Lagos, where an aggrieved woman allegedly stabbed a staff of Ikeja…
FG sanctions 20 mining companies for abuse of extant regulations
The federal government through the Ministry of Mines and Steel Development has sanctioned no fewer than 20 mining companies in 2016 over non-compliance with Nigeria’s laws and regulations. The sanctions provided under the law included a fine of up to…
272 firms collapsed due to restricted 41 items form forex access—LCCI
Since the federal government introduced ban on forex access to 41 items last year, a survey carried out by the Manufacturers Association of Nigeria (MAN) and the Organised Private Sector (OPS) has shown that 272 companies have folded up and…
CBN boosts rice farmers’, plans joint interest-free loans for 7,000 Zamfara farmers
All is set for about 7,000 rice farmers in Zamfara State to benefit from interest-free loans being packaged by the state government and the Central Bank of Nigeria (CBN) for the 2017 dry season farming in the state. This was…
Conakry, Guinea becomes Turkish Airlines 120th destination as expansion rages
Turkish Airlines Monday launched its first flight between Istanbul and Conakry. With this new addition, Turkish Airlines has expanded its network to 51 destinations on the continent where it is has the largest coverage number of destinations among all carriers….
VW overtakes Toyota after four-year lead in sales
German auto giant, Volks Wagen (VW) has overtaken Toyota group in yearly global sales Only last year, global sales across its Toyota, Lexus, Daihatsu minicar and Hino Motors Limited truck brands rose 0.2 per cent to 10.18 million last year…
Tanzania raises tax on charcoal to save forests, Nigeria adamant
The impacts of recession and inflationary economy are currently spreading across Africa and the tide is not favouring the continent’s depleting forest resources. But to tame the trend of unsustainable use, Tanzania government is considering putting a tax on charcoal…
Delivery of Lagos-Ibadan rail project boosted as China Exim bank approves N408bn
More money is expected to be injected into the Nigerian economy to ease liquidity with the approval of $1.275bn (about N408bn) loan for the project on behalf of the Chinese government. Already, the federal had last week announced the complete…
Customs fears recession, downgrades 2017 revenue target to N900bn
With lessons from the failed one trillion naira revenue target by the leadership of Nigerian Customs Service (NCS) in 2016 due to recession and forex crisis, the agency has downgraded its 2017 target to N900bn. Giving the target, the Service…
