The demand for Ginger in the international market has gone up significantly because the root is now being used as raw material in manufacturing process. More »
To make extra income from Garri production business, you need to export your Garri to other countries in West Africa, Europe and America More »
The high demand for chicken meat and eggs has really proven that Poultry farming in Nigeria is indeed a very lucrative business More »
Indeed you can become a millionaire through Poundo Yam production business in Nigeria. You can make up to N500, 000/month producing and selling Instant pounded Yam powder More »
Are you thinking of starting a profitable business of your own in Nigeria? If yes then I will want you to consider setting up a cement block molding industry in the country More »
The export of cashew nuts and other agricultural commodities from Nigeria is fast becoming very lucrative these days; More »
Discover how to make 100percent profits when you invest just N80, 000 in exporting Bitter kola from Nigeria to Europe, America and Asia countries More »
Livestock feeds production is a very profitable business, the demand for animal feeds in Nigeria is high More »
Laundry and Dry Cleaning is indeed a good business opportunity in Nigeria because it has a high return on investment. More »
House Of Representatives Probes NNPC’s $1.5 Billion Loan
Business News (Finance) The Nigerian House of Representatives In Abuja has mandated its Joint Committee on Loans and Debts, Justice, Petroleum Downstream and Upstream to investigate an alleged plan by the NNPC to obtain a syndicated loan of 1.5 billion dollars to pay its debt.
Adopting a motion on matters of urgent public importance sponsored by Rep. Raphael Nnanna Igbokwe (PDP, Imo), the House mandated the committee to investigate and report back within 14 days.
In his motion, Igbokwe noted that the said loan was neither captured in the 2013 appropriation bill nor was it reflected in the 2013-2015 Medium Term Expenditure Frame work as passed by the National Assembly.
“Section44 subsection 2a of the Fiscal Responsibility Act prescribe as a mandatory condition that government in the federation and it’s agencies and corporations desirous of borrowing shall show the existence of prior authorization in the appropriation or other Law for purpose for which the borrowing is to be utilized,” Igbokwe argued.
He said that securing the loan will plunge the nation into greater indebtedness. The motion was unanimously adopted.-Leadership