Rivers outlines purpose of 2021 budget as capex gulps 68.18% of N448.6bn

Ben EguzozieDecember 3, 2020

  To stimulate economy via investments in commerce, tourism N38bn for loans repayment 86bn to support SMEs development, social investment, jobs creation   Rivers State, rich in crude oil and gas deposits, with a gross domestic product economy of over $33.69 billion, is pursuing a higher capital expenditure (capex) of 68.18 percent or N305.9 billion […]

Mineral rich Jigawa obtains 11 licenses, calls on investors to capitalise on state’s gold, copper, iron ore endowments

December 3, 2020

By Onome Amuge   The Jigawa State government has announced its procurement of 11 mining licenses from the Federal Ministry of Steel and Mines and as a result called on interested investors to harness the potentially bountiful mineral resources available in the state. Namadi Umar while speaking at the stakeholders consultation with the federal ministries, […]

Nigeria’s oil-rich Rivers State to spend N448bn in 2021 in pursuit of inclusive growth

Ben EguzozieDecember 3, 2020

Finance commissioner fails to list sectoral allocations State to spend N2.75bn on LG elections New budget 49.37% higher than revised 2020 budget Oil-rich Rivers State has budgeted N448 billion (Four hundred and forty-eight billion, six hundred and sixty million, seven hundred and seventy-three thousand, four hundred and seventy-six naira (or N448,660,773.476) for the 2021 fiscal […]

Shell loses N17bn oil spill judgment, as Supreme Court dismisses company’s case

Ben EguzozieNovember 28, 2020

  describes oil company’s application as “unmeritorious” judgment sum with interest now stands at N182bn – says counsel to community justice coming for Ejama Ebubu after half-a-century wait     Shell Petroleum Development Company (SPDC), which has the largest footprint in Nigeria’s oil industry, would now have to write a cheque of N17 billion payable […]

Delta assures its support of inaugural Diaspora population’s business summit

Ben EguzozieNovember 26, 2020

Delta, an oil-rich state, with a gross domestic product economy in excess of $20.79 billion, has assured its Diaspora population of its full support for the forthcoming Diasporal business conference holding in Asaba, the state capital in December. The state’s Diasporans have listed areas of concern for their inaugural business summit to include: agriculture and […]

Nigeria spared as US slams $15,000 visa bond on 15 African countries

November 26, 2020

By Onome Amuge   The United State of America has imposed a new visa rule demanding foreign tourists and business travellers from 15 African countries to pay a bond of up to $15,000 in addition to the regular visa fees before they can be granted access into the North American country.   The visa bond […]

Stakeholders urge Lagos to leverage NGOs for effective implementation of N5bn LEAP

November 25, 2020

By Hamid Ayodeji   MSMEs should approach strategically   Following the recently launched N5 billion Lagos Economic Acceleration Programme (LEAP) aimed at providing capital and economic stimulus for micro, small and medium enterprises (MSMEs) by the state’s administration led by Governor Babajide Sanwo-Olu in order to tackle the negative impact the COVID-19 pandemic has had on […]