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Dangote Cement signs pact with GE to digitise plants

Dangote Cement signs pact with GE to digitise plants

Dangote Cement Plc has signed an agreement with General Electric to install Asset Performance Management (APM) solution at its plants in Obajana, Ibese, to Improve power supply efficiency and help extend the life span of the plants, Nairametrics reports. Details of pact: It includes extending the current service agreement for an additional 50,000 operating hours for the seven GE LM6000PC ... Read More »

U.S. indicates  business interest in Ogun State

U.S. indicates business interest in Ogun State

Ogun State Goverrnor, Prince Dapo Abiodun has called on American investors to key into his administration’s Public-Private Partnership initiative and invest in the State. Governor Abiodun made the call when he received in his Abeokuta office, a nine-man delegation from the United States of America Commercial Service, led by Ms. Christine Kelly. The Governor said, “Ogun State is blessed with ... Read More »

Big Banks Beware, Fintech Turks Are Here To Disrupt, By Babafemi Ojudu

Big Banks Beware, Fintech Turks Are Here To Disrupt, By Babafemi Ojudu

  Senator Babafemi Ojudu* Farmally is an agricultural crowdfunding platform. It has a small and efficient staff of three. It operates in a space less than ten square meters in Abuja. It’s proprietor Mr Tunji David, a young graduate of economics is perpetually on his mobile phone. He is receiving calls from far and near from investors who want to ... Read More »

Government Orders NCC To Sanction Telecos Over Illegal Charges

Government Orders NCC To Sanction Telecos Over Illegal Charges

The Federal Government has ordered the Nigerian Communications Commission, NCC, to sanction any telecommunication firm imposing illegal charges on customers. Isa Pantami, Minister of Communications and Digital Economy, gave the order in a statement on yesterday. NCC also ordered that the new charges on Unstructured Supplementary Service Data should be stopped. The statement reads: “We have directed the Nigerian Communication ... Read More »

Buhari Happy With World Bank  Rating Of  Nigeria On 2020 Doing Business Index

Buhari Happy With World Bank Rating Of Nigeria On 2020 Doing Business Index

President Muhammadu Buhari has expressed delight with the World Bank’s 2020 Doing Business Index (DBI) which ranked Nigeria 131 out of 190 countries, up 15 places from 146th position last year. The report, which was released Thursday, also named Nigeria one of the top 10 most improved economies in the world for the second time in three years. Nigeria is ... Read More »

Ganduje Moves To Promote Economic, Cultural Ties With France

Ganduje Moves To Promote Economic, Cultural Ties With France

…As France organises his meeting with French Development Bank In his effort to diversify the state economy and take economic ties to global level, Governor Abdullahi Umar Ganduje of Kano state, plans official visit to France to meet with French business community, with the view to wooing investors and to strengthen economic and cultural ties with the country. His visit ... Read More »

CJN faults amended AMCON Act

CJN faults amended AMCON Act

The Chief Justice of Nigeria, Justice Ibrahim Muhammad, has faulted some provisions in the amendment to the Asset Management Corporation of Nigeria (AMCON) Act, particularly the aspect that limits the determination of appeal to 60 days. The CJN in a statement by Fesus Akande, spokesman for the Supreme Court, today said that the CJN spoke in Abuja during a courtesy ... Read More »

Investments My Strategy to Create Jobs, Alleviate Poverty – Dangote

Investments My Strategy to Create Jobs, Alleviate Poverty – Dangote

Alhaji Aliko Dangote, Africa’s richest man and chairman of Dangote Cement Plc, has promised to continue to do all within his power to help alleviate poverty and spread wealth in the country, ThisDay reports. Dangote made this promise in the ongoing extended Dangote Cement bag of Goodies National Consumer Promotion in Akure and Asaba. He said his joy is to ... Read More »

Sokoto State Govt. to establish Islamic Finance Unit

Sokoto State Govt. to establish Islamic Finance Unit

Sokoto State Government said yesterday it has concluded plans to establish the Islamic Financing Unit under the state Ministry of Budget and Economic Planning to access funds from non-interest financial institutions, NAN reports. The state Commissioner for Budget and Economic Planning, Dr. Shehu Kakale, announced this during a one day stakeholders’ meeting on Global Non-Interest Economy held in Sokoto. The ... Read More »

AfDB Advocates Unlocking of $1.8tn AUM for Investment

AfDB Advocates Unlocking of $1.8tn AUM for Investment

The President of the Africa Development Bank (AfDB), Dr. Akinwunmi Adesina, has stressed the need to mobilise mutual funds and other Assets Under Management (AUM) in the continent put at $1.8 trillion, to drive Africa’s development, Thisday reports. He also said commercial banks who desire to get credit lines from the AfDB would have to increase lending to women-focused businesses, ... Read More »

World Bank approves $3bn loan for power sector

World Bank approves $3bn loan for power sector

The World Bank has approved Nigeria’s request for a $3bn loan for the expansion of the transmission and distribution networks in the power sector. The approval came following series of meetings between officials of the Federal Government led by the Minister of Finance and the World Bank. Mrs Zainab Ahmed confirmed this to journalists on Sunday while speaking about Nigeria’s ... Read More »

FG suspends MTN’s N4 USSD charges

FG suspends MTN’s N4 USSD charges

The federal government has ordered the Nigerian Communications Commission (NCC) to suspend the N4 per second imposed by MTN on subscribers to USSD access to banking services charges. Uwa Suleiman, media aide to the Minister of Communications Dr Ibrahim Ali Pantami, gave the directive through a statement today. The statement reads: “The attention of the Federal Ministry of Communications has ... Read More »

World’s most profitable company keeps delaying its IPO

World’s most profitable company keeps delaying its IPO

Saudi Aramco, the state-owned Saudi Arabian oil company that was recently-adjudged the most profitable company in the world, has again delayed its Initial Public Offering (IPO) which was initially scheduled to take place last year, Nairametrics reports. Quoting Bloomberg, the paper said the latest delay stemmed from investors’ doubt over the company’s $2 trillion valuation. In view of this, a ... Read More »

Ekiti partnering with Dangote, Coscharis, Stallion to set up rice mill- Fayemi

Ekiti partnering with Dangote, Coscharis, Stallion to set up rice mill- Fayemi

Governor Kayode Fayemi of Ekiti State has said that his administration was in partnership talk with Dangote, Coscharis and Stallion Group Industries Limited to set up a rice mill in the state. He spoke at a forum, “Ekiti Youth Conversation with Mr Governor”, held at the Abiodun Adetiloye Hall of the State Trade Fair Complex, Ado Ekiti, as part of ... Read More »

Seven banks fail CBN’s stress test

Seven banks fail CBN’s stress test

The result of Central Bank of Nigeria (CBN) stress test released on yesterday has shown that the funding positions of seven commercial banks are inadequate, The Nation reports. The financial stability report signed by CBN Director, Financial Policy and Regulation Department, Kelvin Amugo, showed that in the less than 30-day period analysis, seven banks were not adequately funded, while in ... Read More »

Afam Power: NCP approves Transcorp as preferred bidder at N105.3bn

Afam Power: NCP approves Transcorp as preferred bidder at N105.3bn

BY ONYEKA AJUMOBI ONOCHIE The National Council on Privatisation (NCP) has approved Transcorp Power Consortium as the preferred bidder for the Afam Electricity Generation Company (Afam Power Plc and Afam Three Fast Power Limited) with a bid price of N105.3bn (about US$343.6m) and Diamond Stripes Consortium as the reserve bidder with a price of N102.3bn. This was one of the ... Read More »

NGO collaborates with U.S. Consulate in Nigeria to host Emerging Entrepreneurs

NGO collaborates with U.S. Consulate in Nigeria to host Emerging Entrepreneurs

  A non- governmental organization, Field of Skills and Dreams recently collaborated with the U.S. Consulate to hold a Conference for Emerging Entrepreneurs, in Nigeria’s South -South geo-political zone. The Conference took place in Port Harcourt, Rivers State capital. One hundred and ninety seven participants took part in the two-day conference, including 78 staff from the University of Port Harcourt. ... Read More »

FG lists N15billion green bond on Stock Exchange

FG lists N15billion green bond on Stock Exchange

The Federal Government on Monday listed its N15 billion green bond on the daily official list of the Nigerian Stock Exchange, reports the News Agency of Nigeria. The seven-year bond issued at coupon rate of 14.50 per cent on June 13, 2019 would mature on June 13, 2026. The Series II Green Bond was issued to finance renewable energy, afforestation, ... Read More »

EKO DISCO KICKS OFF 2019 CUSTOMER SERVICE WEEK

EKO DISCO KICKS OFF 2019 CUSTOMER SERVICE WEEK

  Eko Electricity Distribution Company (EKEDC) has kicked off its 2019 Customer Service Week (CSW). This was disclosed at a press conference organised by the utility company on Friday 4th October 2019 at its corporate headquarters in Marina, Lagos. The theme of the 2019 Customer Service Week is “The Magic of Service”. Managing Director and Chief Executive Officer of EKEDC ... Read More »

EKEDC set to send another batch of workers to India for training

EKEDC set to send another batch of workers to India for training

  In the pictures above and below are some of the staff going for the training in India. Eko Electricity Distribution Company (EKEDC) in its bid to improve the quality of its service and cement its position as a leader in innovation and service delivery in the power sector, is set to send another batch of its lineworkers to India ... Read More »