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Dangote raises fraud alert on ‘Happy World Meal Gate’, dissociates group, warns Nigerians

Dangote group

Contrary to the publication widely circulated on social media and mobile instant messaging application suggesting that Dangote group is involved in a new ponzi trick, the Dangote brand has averred that it is neither the initiator nor a partner to the “Happy World Meal Gate” Ponzi scheme. In a terse statement, the Dangote group strongly warns the public against participating ...

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Affluent nations using dumping strategy to keep Nigeria food import dependent—Minister

Ibrahim J

The Minister of State for Environment, Ibrahim Jibril, on Monday in Abuja revealed that some rich nations have been working on unknown strategy to developing countries like Nigeria to keep Nigeria food import dependent. He added that the plot which had been succeeding has forced some African nations including Nigeria to become dumping ground for inferior, substandard, expired and poisonous ...

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BoI lifts creative industry, opens N300m facility window on single digit interest rate

BoI

In line with federal government’s renewed interest in diversifying the economy, Bank of Industry (BoI) has signed a memorandum of understanding with the National Council for Arts and Culture (NCAC) to open N300m loan window for operators in the creative industry. Access to the facility is coming on single single digit interest rate to be repaid between four to five ...

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Expert sees bias in Stutern Report on Varsities that produce most employable graduates

NYSC members

The recent report released by Stutern Group in partnership with Jobberman and BudgIT, saying that  graduates from Covenant University were the most employable, followed by the University of Agriculture, Abeokuta, and Obafemi Awolowo University, Ile-Ife, has been roundly faulted by experts in education and curriculum development, Prof. Dom Unaegbu. In a telephone interview, the university don said “Such a report ...

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Lagos GDP hits $136b, joins league of fastest developing mega cities in the world

Marina Lagos

More reasons have emerged showing how Lagos State has become one of the fastest growing mega city in the world. This was made public by the State Governor, Akinwunmi Ambode who revealed that the Gross Domestic Product GDP of the state has hit $136 billion. Apart from that, Lagos accounts for over 90 per cent of Nigeria’s foreign trade flow, ...

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Lagos rakes N20.774 bn from land transactions in one year, gives 4,445 e-C of O

Ambode- 22

The Special Adviser to Lagos State Governor on Urban Development, Mrs. Yetunde Onabule, has revealed that diversification of the economy has started yielding results in the state, saying  the state has raked in N20.774 billion on land related transactions in the past one year. This according to him is against the 2015 revenue of N9.2 billion. Besides, since the inception ...

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Shareholders applaud NASCON management, accept 70k dividend

NASCON

Shareholders of NASCON Allied Industries Plc have unanimously lauded the decision of the company to pay a dividend of 70 kobo per share as against the 55 kobo paid in 2015. Chairman of the Independent Shareholders Association, Chief Sunny Nwosu, described the board of Nascon as very efficient and focus, urged them not to relent and work more to pay ...

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As in cement, Dangote begins journey for backward integration in Sugar production

Dangote Sugar - FBF 1

Leading indigenous investor in sugar production, Dangote Sugar Refinery (DSR) Plc has unveiled plans to drive backward integration in production of sugar over a 10 year delivery plan. The scheme is expected to gulp about N106 billion and about 20 per cent of the fund would be raised through equity. Part of the new deal is to generate not less ...

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SON impounds falsely declared goods valued at over N100m, cautions importers

SON- logo

The Standards Organisation of Nigeria (SON) has seized a 40-feet container loaded with unbranded refrigerators and television hangers on grounds of false declaration by the connivance of the importer and clearing agent. In a statement, the agency alleged that the importer had falsely declared the goods to be soldering iron materials, adding that the agency took the action forestall entry ...

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Emulate Dangote or get ready to lose your oil refinery licence, FG warns licensees

Refinery

The Federal Government on Wednesday in far away Huston Texas, handed down a rare ultimatum to oil refinery licensees who are yet begin construction works to emulate Aliko Dangote or lose the validity as soon as possible. Minister of State for Petroleum Resources, Dr Ibe Kachikwu, gave the warning at a World Press Conference on the sidelines of ongoing annual ...

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