At Niger economic summit Dangote commits $450m to rice processing mill
Aderemi Ojekunle
August 15, 2017
Aliko Dangote, president of Dangote Group, said the company would invest $450 million in a large scale rice processing mill to process over 200, 000 metric tonnes of paddy rice in Niger State over the next three years. Dangote stated this, Monday, at the opening of the two-day 2017 Niger State Economic Submit with the […]
Abuja-Kaduna rail line now generate N1m daily, minister says
Businessam StaffAugust 8, 2017
The Abuja to Kaduna rail line now generates one million Naira daily, Rotimi Amaechi, Minister of Transportation disclosed Tuesday in Benin. In an interview with the News Agency of Nigeria (NAN), the minister said that the feat was as a result of the increase in passengers’ patronage. Amaechi attributed the passenger surge to the security […]
Grant tax relief to industries operating in Nigeria, broker appeals to FG
Businessam StaffAugust 7, 2017
Chief Angus Uzoamaka, an Abuja-based insurance broker, has urged the Federal Government to consider tax relief for industries operating in Nigeria in order to boost economic development. Uzoamaka told NAN, Monday in Abuja that the measure would go a long way to encourage consumption and exportation of made in Nigeria products, as it would also […]
Nigeria Customs Service generates N308m from three states in July
Businessam StaffAugust 5, 2017
The Nigeria Customs Service of Niger, Kogi and Kwara Area Command got about N308 million as Internally Generated Revenue (IGR) in July 2017, Comptroller Benjamin Binga in charge of the states disclosed in an interview with News Agency of Nigeria (NAN) in Minna, Saturday. Binga said this was against the N219 million generated in July 2016, recording […]
Nigeria authorities to impose tax on first-class, business-class tickets, others
Businessam StaffAugust 3, 2017
Nigerian authorities are to start imposing tax on luxury goods and services, including air tickets, drinks, and jewelries. Kemi Adeosun, minister of finance, disclosed that the Federal Government has signed a policy, which imposes a tax on first-class and business-class air tickets alongside other luxury goods. Adeosun stated this in a Facebook live presentation Thursday, […]
Unregulated use of agro chemicals threatens ecosystem, honey production, expert says
Businessam StaffAugust 3, 2017
Yusuf Madaki, Director, Animal Health, Yobe Livestock Development Programme, said, in an interview with News Agency of Nigeria (NAN), Thursday in Damaturu, unregulated use of herbicides, pesticides, and other agro chemicals could harm the ecosystem and honey production in Nigeria. He bemoaned the growing trend of unregulated application of herbicides and insecticides on crops in […]
Nigeria’s central bank to address e-payment issues at FICAN Bi-monthly Forum
Businessam StaffJuly 31, 2017
The Central Bank of Nigeria (CBN) will be addressing key issues confronting the e-payment industry at a Bi-Monthly Forum organised by the Finance Correspondents Association of Nigeria (FICAN). The event, themed: ‘Electronic Payment Industry, Performance & Regulatory Issues’ is scheduled for Saturday, August 5th, 2017 at the FICAN Centre, Onipanu, Lagos. The Guest Speaker, Dipo […]
Nigeria’s acting president, Osinbajo, unveils Indorama’s $1.5bn fertilizer plant
Businessam StaffJuly 27, 2017
Yemi Osinbajo, Nigeria’s acting president, Thursday in Port Harcourt inaugurated a giant world-class fertilizer plant, built by Indorama Eleme Fertilizer and Chemicals Limited at the cost of $1.5 billion. The Plant has a production capacity of 4000 metric tons (MT) of nitrogenous fertilizers per day or 1.5 MT per annum The acting president used the […]
Awka Chambers seeks access to forex for raw materials inputs
Businessam StaffJuly 26, 2017
The Awka Chambers of Commerce and Industry, Mines and Agriculture (AwkaCCIMA) has decried the lack of access to foreign raw material inputs, a consequence of high cost of foreign exchange (Forex). Chief Felly-Zontal Akosa, the President of the chambers expressed the concern in an interview with the News Agency of Nigeria (NAN) in Awka, Wednesday, […]
Nigeria losses N2.03trn from poor infrastructure yearly– ICRC
Businessam StaffJuly 22, 2017
Nigeria losses two percent of its Gross Domestic Product (GDP) yearly due to inadequate infrastructure, Chidi Izuwah, the Acting Director General, Infrastructure Concession Regulatory Commission (ICRC) said Friday. Izuwah said this in Abuja at the signing of a Memorandum of Cooperation between the Nigerian government and Aninver, an infrastructure finance and investment company. The Country’s […]