Nigeria still grapples with the consequences of 1998 Malabu scandal, says vice president
Businessam Staff
October 23, 2017
Yemi Osinbajo, Nigeria’s Vice-President said the country still suffers the consequences of the lack of transparency involved in the award of OPL 245 to Malabu Oil and Gas Ltd in 1998. Speaking in Jakarta, Indonesia, Monday at a conference on beneficial ownership organised by the Extractive Industries Transparency Initiative (EITI), Osinbajo also said hidden corporate ownership […]
Ondo state keys into Nigeria’s diversification programme, set to revive OK LNG coy
Businessam StaffOctober 23, 2017
Gov. Rotimi Akeredolu of Ondo said he will push the diversification programme of the state further by reviving moribund OK LNG, a state government-owned firm, to boost the state’s economy. This was the high point of the discussion of top Ondo officials and oil majors in a crucial meeting held in the office of the […]
Nigeria signs MoU with Ghana on regional co-operation in maritime operations
Businessam StaffOctober 17, 2017
The Nigerian Maritime Administration and Safety Agency (NIMASA) has signed a memorandum of understanding (MoU) with the Ghanaian Maritime Authority, (GMA). The official signing ceremony took place at the Nigerian Maritime Resource Development Centre in Lagos. In a statement signed by Isichei Osamgbi, NIMASA deputy director communications, Dakuku Peterside, director general of NIMASA, said intra-African […]
World Bank has over $8.5bn investment scattered across Nigeria, says senior officer
Businessam StaffOctober 16, 2017
World Bank Group says it has an investment portfolio of about 8.5 billion dollars scattered across states and regions in Nigeria to support the inclusive economic development and youth empowerment. Olufunke Olufon, the Senior Communications Officer, World Bank Nigeria, made this known in a statement Sunday in Abuja. She stated that the investments were to […]
Nigeria will be prudent in management of loans, minister reveals
Businessam StaffOctober 16, 2017
Kemi Adeosun, Nigeria’s Minister of Finance disclosed Sunday that the Federal Government would be prudent in the management of the country’s foreign borrowings. Adeosun said this in Washington D.C. at a Joint Media briefing with the Governor of the Central Bank of Nigeria, Godwin Emefiele, at the end of the 2017 Annual Meetings of the […]
Illegal activities stall Nigerian mining growth as sector generates paltry N14.96bn in two years
Businessam StaffSeptember 21, 2017
Shettima Abba-Gana, Acting Chairman, Revenue Mobilisation Allocation and Fiscal Commission ( RMAFC ) says the Nigerian mining sector was generating less than capacity due to activities of illegal mining. In an interview with the News Agency of Nigeria ( NAN ) Thursday in Abuja, Abba-Gana said the sector generated only N14.9 billion between 2015 and […]
Nigeria explores ways to boost trade with Brazil
Businessam StaffSeptember 19, 2017
Emmanuel Ibru, the President of the Nigeria-Brazil Chamber of Commerce and Industry announced Tuesday that the chamber was exploring ways to increase trade between Nigerian and Brazilian businessmen. In an interview with News Agency of Nigeria (NAN) in Lagos, Ibru made the announcement, saying that the two countries had a lot to gain through increased […]
More investment returns are abound in Nigeria, Onyeama tells US investors
Businessam StaffSeptember 19, 2017
Geoffrey Onyeama, Nigeria’s minister of foreign affairs, said investors from the United States will get a higher return on investment from the country than anywhere else in the world. According to NAN’s report, the minister made this statement while speaking at the Nigeria-US Business and Investment Forum in New York alongside Okechukwu Enelamah, minister of […]
RMAFC calls for exploration of resources in agric, tourism, solid minerals
Businessam StaffSeptember 15, 2017
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has urged all states and local governments to show a serious commitment to providing enabling environment to exploit potential in tourism, agriculture, and solid minerals. The commission made the call in a communiqué signed by Ken Kayama, Chairman, Fiscal Efficiency, and Budget Committee of the commission according […]
Nigeria’s Kano state expresses interest to partner Lagos on economic development
Businessam StaffSeptember 15, 2017
Gov. Abdullahi Ganduje of Kano state has expressed the readiness of his administration to partner with Lagos state to develop a synergy on the economy for the development of the two states. Ganduje gave the assurance when a team of economic experts from Lagos led by the state Commissioner for Economic planning and Budget, Akinyemi […]