Nigeria imports $4bn worth of steel annually –Minister
The Minister of Steel Development, Shuaibu Audu, has said Nigeria currently imported steel worth four billion dollars annually.
Audu said this during a familiarization visit to the National Metallurgical Development Centre (NMDC) in Jos on...
Senate approves Tinubu’s request to sack FCCPC boss
The Senate has approved President Bola Tinubu’s request to sack the Executive Vice- Chairman of the Federal Competition and Consumer Protection Commission, Babatunde Irukere.
The decision was sequel to a motion by the Senate Leader,...
FG detains two Binance executives –Report
The Federal Government has allegedly detained at least two senior executives of Binance, a crypto currency exchange company.
According to a report by Financial Times, both executives flew into Nigeria last week following a ban...
Reps dismisses N178bn bad debt allegation against NPA
The House of Representatives has exonerated the Managing Director of the Nigerian Ports Authority, Mohammed Bello-Koko of N178 billion bad debt allegations as contained in the 2019 audited financial statement of the authority.
The Chairman...
Nestle, Eterna drag equity market to N51bn loss
The Nigerian Exchange continued a bearish trend in the new week, losing N51bn due to the decline suffered by Nestle Plc, Eterna and Fidson Healthcare Plc.
Nestle Plc, Eterna and Fidson Healthcare Plc dipped by...
Ban dollar cash transactions to save naira, operator tells Tinubu
The Group Managing Director of CFL Group, Lai Omotola, has urged President Bola Tinubu to sign an executive order prohibiting dollar cash transactions to save the naira from further depreciation.
Omotola noted that several economic...
Stock Market Down N50.64bn on Profit-taking in Nestle, 24 Others
Investors’ profit-taking in Nestle Nigeria Plc, Dangote Sugar Refinery Plc, and 23 others, yesterday depreciated the stock market segment of the Nigerian Exchange Limited (NGX) by N50.64 billion in market capitalisation.
As Nestle Nigeria dropped...
LCCI Tasks CBN on fixing Custom Duty Rate
The Lagos Chamber of Commerce and Industry (LCCI) has called on the Central Bank of Nigeria (CBN) to peg the Custom Duty Rate (CDR) over a specified period in order to enable businesses to...
NAFDAC Ordered to Suspend Action on Ban of Drinks in Sachets, Others
The current economic situation and hardship in the land are among the factors responsible for the decision of the House of Representatives Committee on National Agency on Food, Drugs Administration and Control (NAFDAC) to...
NITDA, SMEDAN to have joint programmes for SMEs, build database for interventions
Having approximately 40 million small businesses spread across Nigeria and they are responsible for 50 percent of the country’s Gross Domestic Product(GDP) and 70 million jobs, Kashifu Inuwa, Director General of the National Information...
