Category Archives: Business News

NCC shuts down APC’s Presidential campaign SMS messages

NCC shuts down APC’s Presidential campaign SMS messages.

The Nigerian Communications Commission (NCC) has shut down the Short Messaging Service (SMS) platform which the Buhari-Osinbajo Presidential Campaign Fundraising Committee launched two days ago to raise funds for its campaign.

MTN, Chief Marketing Officer Bayo Adekanbi, Applauds O2 Academy

MTN, Chief Marketing Officer Bayo Adekanbi, Applauds O2 Academy.

During his visit to the Academy last Saturday the C.M.O said that studying in O2 Academy is a huge advantage for those aspiring for a career in marketing communications. He added that he didn’t have such opportunity when he started out in his career and encourages the students to take their studies at O2 Academyseriously. See video and more pic after cut…

Kanu Nwankwo Sets up Own Photo Studio, Modeling Agency

Kanu Nwankwo Sets up Own Photo Studio, Modeling Agency.

Iconic Nigerian former international footballer Kanu Nwankwo has set up a studio on Allen, Ikeja called Papilo Studios where they do everything from photo shoots, to book albums, and video production. They also have a music studio there. They are operating from a massive building in Ikeja,Lagos.

Nigerian Government Reduces Petrol Pump Price From N97 To N87

The federal Government of Nigeria has Reduces Petrol Pump Price From N97 To N87.
The Minister of Petroleum Resources, Mrs Dieziani Allison-Madueke has announced a drop in the pump price of Premium Motor Spirit, popularly known as petrol from N97 to N87 due to the drop in global crude oil prices.

“As you may be aware, there has been a lot of volatility in the oil market in the past few months and due to this the importation prices of our petroleum products have been impacted.

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Nigerian Exporters Gets N300bn Loan From NEXIM Bank

The Nigerian Export Import Bank (NEXIM) has offered N300 billion funding support to Nigerian exporters in 2014 as part of its commitment to boost credible non-oil exports in the years ahead.

A fully loaded truck in one of the inland dry ports in the sub-region, will be delayed, harassed for bribes by the numerous security agents along the regional transport corridor before it gets to its destination.

Managing Director/Chief Executive, NEXIM Bank, Mr. Roberts Orya disclosed this at the 2014 Nigeria Non-oil Export and Investment Development Conference organised by Business Journal in Lagos. He said that the bank has been working on deepening export-import trade and attracting foreign investments.

Dangote Farms Begins Hybrid Tomatoes Production in Kano

Dangote Farms Begins Hybrid Tomatoes Production in Kano.

A pilot hybrid tomatoes production project has been established in Kano state by Dangote farms for its tomatoes processing plants in the state.

Adesina – Rice Production Generates N400b To Nigeria’s Economy

Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina, said on Monday that rice production in the country over the last three years has generated about N400billion to the Nigerian economy.

Adesina who stated this in Abuja at the Second Nigeria Rice Investment Forum, said Nigeria has currently attained 80 per cent self-sufficiency in paddy rice production as well as added seven million metric tonnes of paddy rice to the domestic food supply in 2013.

He maintained that with the establishment of 18 rice integrated mills across the country, that Nigeria would not only achieve self-sufficiency in rice production but also would become a net exporter of food.

Nigerian Government Unveils Austerity Measures as Crude Oil Price Fall

When there was enough money, only those in government were enjoying it, but now everyone will have to pass through the stress. That is Nigeria’s style of leadership!

The decline in the price of crude oil may have started taking its toll on Nigeria. Minister of Finance and the Co-ordinating Minister for the Economy, Ngozi Okonjo-Iweala, announced austerity measures in Abuja on SUnday while addressing journalists on Government’s response to the crisis.

The measures which will see Nigerians paying more taxes, comes days after President Goodluck Jonathan formally announced his intention to contest the February 14 2015 presidential election.Okonjo-Iweala, in company with the Director-General, Budget Office of the Federation, Dr Bright Okogu; the Accountant-General of the Federation, Mr. Jonah Otunla; the Acting Chair, FIRS, Alhaji Kabir Mashi and other top officials, told the journalists that the nation would be experiencing a challenging time owing to the global fall in oil prices.The measures government is taking, according to her, are a reduction in public expenditures and international travels by public servants. She however, assured that the Jonathan Economic Management Team was “on top of the situation” to proffer measures that would help to ensure that the “common man” did not feel the impact of the oil price decline.

As part of the efforts to reduce expenditure, she said international travel within the public service would now be severely curtailed.

She said, “Every country that is well managed doesn’t just seat and allow a situation to happen to them. If they are well managed, they prepare the right set of policies to deal with the situation.

“Those days when we used to be like that in the ‘80s and 90s are over. In the ‘80s, when we had shocks, we didn’t take measures by ourselves to adjust. We waited for others to come and tell us how to adjust. But now we have competent teams and our job is not to sit and wait, but, to craft a set of policies and that will help us address these shocks.

“We are not talking about (cutting) salaries and benefits. We are talking of trainings and travels and these will be only for critical and essential items which will be pre-approved by the Head of Service and the Director-General of the Budget Office and then if someone invites you for overseas course, you can go provided they pay for your training and your stay and you have to furnish evidence that they are paying before you will be allowed.

“The purpose of this is to tell you what we are doing and this team is calm and will be effective and we are working with the monetary policy authorities and together we will manage the economy in a transparent manner so that people need not have any fear.”