French President, Emmanuel Macron has inaugurated the France-Nigeria Business Council. The council is designed as a private sector initiative to boost business relations between the two countries. The  Founder/Chairman of BUA Group, Abdul Samad Rabiu, is the inaugural president of the council. Other members are; Gilbert Chagoury of Chagoury Group; Mike Adenuga, Chairman Globacom; Aliko Dangote, Chairman Dangote Industries; Tony ...

A new dimension has been added to the much-talked about Petroleum Industry Bill (PIB) 2021. The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, will, on Thursday brief Senators on the Petroleum Industry Bill (PIB) 2021. The information was made by Senate President, Ahmad Lawan, Wednesday during plenary. According to him,  the briefing by Kyari would ...

The House of Representatives Committees on Finance and Banking and Currency have summoned the Federal Inland Revenue Service (FIRS) to appear before them next Monday as investigation continues into $30 billion annual revenue leakages from 2004 to 2019. The leakages allegedly arose from payments on account of foreign currency denominated contracts by companies in engineering, procurement, construction, installation, marine transportation, ...

Nigerian Aviation Handling Company (NAHCO) has identified lack of access to cheap long-term funds needed for purchase and replacement of ageing equipment as part of needs of players in the cargo handling subsector. The company said operators in the cargo handling segment of the industry would have experienced accelerated growth and expansion if the government had addressed needs of the ...

The House of Representatives’ Ad Hoc Committee on Assessment and Status of All Recovered Loots Movable and Immovable Assets from 2002 to 2020 by Agencies of the Federal Government of Nigeria for Effective Efficient Management and Utilisation, on Thursday, grilled the Acting Managing Director, Polaris Bank Limited, Innocent Ike, over an account belonging to the Nigerian National Petroleum Corporation. Over ...

The Governor of the Central Bank of Nigeria, Godwin Emefiele advised investors in the U.K that he expects the true value of the naira to be between N430-440 to the dollar. Mr. Emefiele made this comment in a Webinar organized by the Standard Bank of Africa (parent company of Stanbic IBTC Nigeria). According to sources who attended the event on ...

The three tiers of government has shared N605.958bn as federation allocation for the month of May The Federation Accounts Allocation Committee on Wednesday held a virtual meeting for the disbursement. From this amount, inclusive cost of collection to NCS, DPR and FIRS, the Federal Government, received N242.120bn, the States received N194.19bn, and Local Government councils got N143.742bn, while oil-producing states ...

A dividend of N28.14bn or N35.47 per ordinary share has been approved by theshareholders of Nestle Nigeria Plc It was approved after it was proposed by its board of directors for the financial year 2020. The company announced during its annual general meeting on Tuesday that its profit after tax for 2020 dropped by 14.16 per cent to N39.21bn. It ...

Sterling Bank Plc and StearsData have released comprehensive report for the agriculture sector in Nigeria. The report entitled: Agriculture Industry Report 2021 provides up-to-date view of the challenges and opportunities in Nigeria’s agriculture sector in a COVID-19 era. The four-part report critically examines the country’s agriculture value chain state, state of affairs post-COVID-19, the climate change challenge and opportunities for ...

President Muhammadu Buhari on Tuesday urged the Senate to consider and approve N895billion as Supplementary Budget. Senate President Ahmad Lawan read Buhari’s letter of request on the floor at plenary. The Federal Executive Council (FEC) had earlier approved the amount. A substantial part of the fund has been earmarked for procurement of military hardware to prosecute the war against insurgency ...