CBN taps Angbazo, GE’s Nigeria chief, as pioneer CEO of InfraCorp
PHILLIP ISAKPA
April 11, 2022
BY Phillip Isakpa In what would be interpreted globally as a big steal, the Central Bank of Nigeria, the prime mover of Infrastructure Corporation of Nigeria (InfraCorp), the vehicle it is hoping to use to close the huge infrastructure gap in the country, has tapped Lazarus Angbazo, the globally well regarded and sought after president […]
Nigeria faces mid-2023 fiscal cliff over petrol subsidy removal, says Agusto
Charles AbuedeApril 6, 2022
BY CHARLES ABUEDE A new report examining Nigeria’s beleaguered petrol supply years of intricacies by some expert analysts projects that the country is headed for a fiscal cliff in mid-2023, just when a new president should be assuming office. The experts’ calculation is premised on what is a planned date for the removal of petroleum […]
Nigeria’s president signs Executive Order 11 on national assets maintenance
Charles AbuedeApril 6, 2022
BY CHARLES ABUEDE President Muhammadu Buhari of Nigeria on Wednesday signed an ‘Executive Order 11’ on national public buildings maintenance in the country. The document signing preceded the weekly Federal Executive Council (FEC) meeting held virtually at the council chambers, in Abuja. President Buhari, shortly before the signing, directed all ministries, departments and agencies (MDAs) […]
Nigeria’s $500m palm oil deficit worries OPGAN, stakeholders
Onome AmugeApril 6, 2022
BY ONOME AMUGE Despite being a major component for the production of over 40 essential items, excluding cooking, palm oil production has remained heavily underexploited in Nigeria with outdated processing methods majorly practised in the country, resulting in high production deficits and supply gaps, with the country requiring about $500 million worth of palm oil […]
Lagos Free Zone looks to recoup 21% of $3.5bn investment by 2024
Businessam StaffApril 5, 2022
The Lagos Free Zone (LFZ) is targeting to recoup 21 percent of the estimated $3.5 billion to be invested in the project by the end of 2024. The project was designed to strengthen Nigeria’s position as a commercial centre and preferred industrial hub in West Africa with world-class infrastructure, facilities and services. Dinesh Rathi, managing […]
Julius Berger says construction of 2nd Niger Bridge complete
Businessam StaffApril 5, 2022
Julius Berger Nigeria Plc, Nigeria’s infrastructure construction leader, said it has completed the last span of construction of the 1.6-kilometre Second River Niger Bridge project spanning from Asaba in Delta State to Onitsha, Anambra State, aimed at easing traffic, enhancing commercial activities and improving the lives of the people. Zainab Ahmed, the minister of finance, […]
NGX welcomes investors as DMO puts two FGN bonds on market list
Charles AbuedeApril 5, 2022
BY CHARLES ABUEDE The Nigerian Exchange Limited (NGX) has opened its welcoming arms to investors with keen interest in government backed securities following the offering by the Debt Management Office (DMO) of two new Federal Government of Nigeria (FGN) bonds for subscriptions. The bonds are a 2-Year FGN Savings Bond due April 13, 2024, and […]
Sirika gives multiple assurances govt to keep off national carrier
Sade WilliamsApril 5, 2022
BY Sade Williams/Business a.m. Hadi Sirika, a former senator and Nigeria’s current minister of aviation, took the opportunity offered by the ongoing World Government Summit (WDS) in Dubai to offer multiple assurances that the government will keep its hands off the new national airline being planned by the government. There have been outcries of ‘here […]
Nigeria to extract more value as focus shifts to natural gas
Charles AbuedeFebruary 24, 2022
President Buhari tells gas exporters in Doha Nigeria’s federal government has made known its intentions to pan investment focus on natural gas exploitation in the country. President Muhammadu Buhari, at the 6th Gas Exporting Countries Forum (GECF) Summit in Doha, Qatar, on Tuesday, said the enactment of the Petroleum Industry Act (PIA) […]
Former banking executive protests Lagos LAMATA, LASTMA BRT scam
Phillip IsakpaFebruary 21, 2022
Officials set-up unsuspecting motorists inunmarked, signless Mile 12/Ketu BRT lane Official fine collected with issued LAMATA receipt A retired banker and a very well regarded private sector citizen in Lagos has protested in the strongest terms about what he strongly believes to be a web of scam by which innocent and unsuspecting citizens in […]