Business

The President of Nigeria, Muhammadu Buhari has boasted that the country was now self-sufficient in cement production, such that it has also risen to become a net exporter of the product to other neighbouring countries.

Buhari also pointed out that this wouldn’t have been feasible if his administration was not churning out economic diversification policies that enable entrepreneurs harness resources that are abundant in the country.

He made these remarks in Sokoto on Thursday, while inaugurating a new 3 million metric tonnes per annum BUA Cement Sokoto Line 4 factory.

The President said he was pleased to identify with the …

Nigerian billionaire Businessman Aliko Dangote has retained his status as the richest man in Africa, according to the latest rankings released by Forbes.

Africa Daily News, New York reports that Forbes, which is an American business magazine, is renowned for tracking the wealth of billionaires across the world.

‘For the 11th year in a row, Alike Dangote of Nigeria is the continent’s richest person, worth an estimated $13.9 billion, up from $12.1 billion last year following a 30% increase in the stock price of Dangote Cement, his most valuable asset,’ the magazine said in a web post published yesterday announcing …

New data from the National Bureau of Statistics has shown that manufactured goods valued at ₦13.7tn were imported into Nigeria from January to September 2021.

The data which was obtained by Africa Daily News, New York indicates that the country also exported manufactured goods worth ₦757bn in the nine months, accounting for 0.06 per cent of the total trade of ₦14.3tn.

The value of trade in the manufacturing sector in the first quarter of 2021 stood at ₦4.78tn, representing 49.01 per cent of the country’s total trade in the period, according to the National Bureau of Statistics (NBS).

Exports components …

A total of 63.97 million lines were disconnected in one year amid the National Identity Number (NIN)-Subscriber Identity Module (SIM) data verification, data obtained from the Nigerian Communications Commission (NCC) has shown.

The NCC data revealed that the total number of connected lines in the country fell by 21.79 percent to 229,582,206 in October this year from 293,554,598 in October 2020.

Within the period under review, the number of connected lines was highest in August 2021 (328,114,538) and lowest in September 2021 (229,467,077).

The number of active lines fell from 207,578,237 in October 2020 to 191,618,839 in October 2021, a …

The Nigerian Communications Commission (NCC) yesterday revealed it has successfully carried out a mock session for the 3.5 gigahertz (GHz) spectrum auction ahead of the deployment of the Fifth Generation (5G) network in the country.

NCC spokesman, Dr. Ikechukwu Adinde, clarified that the simulated auction held on Friday in Abuja was preparatory to the main auction billed to take place on Monday.

The conduct of the simulation exercise, he said, was in line with the requirements stipulated in the Information Memorandum (IM) for the 3.5 GHz spectrum auction.

The IM is a document that defines the process for the licensing …

An indigenous-owned agribusiness and a subsidiary of Capitalsage, Johnvents Industries Limited, on Tuesday, commissioned its upgraded ₦15 billion cocoa processing plant in Akure, the Ondo State capital.

Africa Daily News, New York the Factory which was commissioned by the governor of Ondo State, Rotimi Akeredolu will create 300 direct jobs and over 17,000 indirect jobs and thereby becoming an economic powerhouse for the State and Nigeria as a whole.

Johnvents Industries Limited, owners of Johnvents Cocoa Processing Factory, was incorporated in 2016.

Dignitaries present at the ceremony, include the Deji of Akure, Oba Aladetoyinbo Ogunlade Aladelusi, the Jegun of Ile …

The Federal Government of Nigeria has concluded plans to link electricity infrastructure with the Republic of Chad as part of moves to foster regional integration in the West African region.

Speaking when a delegation of the Chadian Government paid him a courtesy call on Wednesday, Minister of Power, Abubakar  Aliyu, assured his visitors of continuous interaction on power interconnection with the Republic of Chad.

Read Also: Fuel, Electricity Subsidy Very Unsustainable – Sanusi

Abubakar said that  Nigeria is committed to regional integration and was willing to resuscitate engagement between Nigeria and Chad.

According to him, directors of the Ministry of …

Notwithstanding the lifting of the suspension of the ban on flights to and from the United Arab Emirates (UAE) into Nigeria by the Federal Government, Emirates Airlines has revealed that flight operations are still on hold while also adding that affected flight bookings have been cancelled.

The airline took to its website on Monday to write: ‘Affected flight bookings have been cancelled. If your flight has been cancelled or impacted by route suspensions due to COVID 19 restrictions, you don’t need to call us immediately for rebooking.

‘You can simply hold on to your Emirates ticket and when flights …

The Federal Government of Nigeria has lifted the ban it placed on Emirates Airline from flying into Nigeria without conditions.

The Minister of Aviation, Sen. Hadi Sirika, disclosed this on Saturday in Abuja in a statement by Mr. James Odaudu, Director Public Affairs in the Ministry of Aviation.

The Federal Government had barred Emirates from flying into Nigeria over discriminatory policies on Nigerians as regards COVID-19 protocols by the United Arab Emirates (UAE).

Read Also: FG Bans Emirates Airlines From Operating In Nigeria

According to Sirika, the move came in response to the yearnings of Nigerian travelers and after painstaking …