Business

Privatisation: BPE Complete Transactions On 234 Enterprises

November 13, 2019 11:20 am

The Bureau of Public Enterprises (BPE) on Wednesday disclosed that it has so completed transactions on 234 enterprises since the inception of the Federal Government’s privatisation programme in 1999.

It further disclosed that plans were afoot to divest from the 10 newly-built gas-fired National Integrated Power Projects (NIPPs) when completed.

The Director-General of BPE Mr Alex Okoh made the disclosures recently at the Nigerian Investment Showcase at Guildhall, London, with the theme: “Public Sector Deals Recently”.

A BPE statement said Okoh listed the milestones recorded by the privatisation programme to include: expanding private sector participation in the Nigerian economy; attracting

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In South Africa, Ayade Woos Investors

November 13, 2019 11:14 am
Cross River State Governor Ben Ayade Wednesday launched a charm offensive in South Africa , wooing investors at the Africa Investment Forum (AIF), to invest in the state.
A statement issued by Ayade’s Special Adviser on Media and Publicity, Mr Christian Ita, said
Governor Ayade was at the Summit on the invitation of the President of the African Development Bank (AfDB), Dr. Akinwumni Adesina, along side the Chairman of the Nigeria Governors Forum, Dr Kayode Fayemi, his Kwara and Abia states counterparts, Dr  Abdulrasaq Abdulraman and Dr Okezie Ikpeazu respectfully.
While speaking at the cluster session on the opportunities Investors
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Ghana Gets $600m Loan Agreement To Boost Cocoa Production

November 12, 2019 3:43 pm

GHANA is moving fast at scaling up its cocoa value chain and President Nana Addo Dankwa Akufo-Addo Tuesday presented what he described as ‘Ghana Chocolate’ to more than 2000 delegates at the African Investment Forum (AIF) holding in South Africa’s city centre in Johannesburg.
He said that other African producers of cocoa, especially Nigeria and ivory Coast, could enjoy cocoa boom and enhanced value chain.

In the last three days, proud President Akufo-Addo has been all over the Sandton City Convention Center venue of the African Development Bank (AfDB)-organised conference clinching big-ticket infrastructure financing deals from global investors.

The Tuesday …

Nigeria Targets Oil Companies For Greater Share Of Profits

November 12, 2019 2:35 pm

In a move Nigeria’s president hailed as a “landmark moment”, Africa’s largest oil producer approved legislation this week to bolster its share of revenues from international majors.

The authorities say the amendment — heralded as the biggest change in decades to its production sharing deals — will bring billions of dollars into state coffers as the country belatedly claims an “equitable share” of its vast natural resources.

But oil industry insiders have slammed the change as an ill-planned attempt to grab the money and warn that it could prompt an exodus of investments as foreign firms turn their backs on …

Visa To Acquire Stake In Nigeria’s Interswitch

November 12, 2019 7:51 am
Visa Inc plans to acquire a “significant minority” stake in payments platform Interswitch, the Nigeria-based company said on Tuesday.

Interswitch did not provide financial details in its statement.

Read Also: Global Investors Mull $67b Projects For Africa In 2020

The acquisition, which Sky News reported on Sunday as being a 20 per cent stake for 200 million dollars, would give the company a valuation of one billion dollars — putting it in the tech-world “unicorn” status for companies that have a billion-dollar valuation.

(Reuters/NAN)…

Customs

Customs Generates ₦1.002trn Revenue In 9 Months

November 11, 2019 11:55 am
The Nigeria Customs Service (NCS) has generated revenue of about ₦1.002 trillion from January to September 2019.

The data received by the News Agency of Nigeria (NAN) from the Department of Research and Statistics and confirmed by the NCS’s public relations office indicated that the revenue was generated from 32 commands.

The statistics showed that the service recorded the highest revenue of ₦123.6 billion in the month of July followed by N118.6 billion realised in May.

The data also revealed that the lowest revenue was recorded in the month of February with N86.3 billion.

The low in February’s revenue might

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Access Bank Pledges Support For Oba Of Benin Satellite Town

November 10, 2019 4:52 am

The Group Managing Director/ Chief Executive Officer of Access Bank PLC, Mr. Herbert Wigwe has pledged the support of his bank for projects that will uplift Benin Kingdom.

He made the pledge during a courtesy visit on the Oba of Benin, Omo N’ Oba N’ Edo, Uku Akpolokpolo, Oba Ewuare II at. his palace in Benin City.

Read Also: ‘Local Content Will Curb Production Cost In Oil Industry’

Wigwe, accompanied on the visit by his management team, said the bank has phenomenal respect for the ancient kingdom of Benin that everyone is extremely proud to associate with.

He also said …

Oil

‘Local Content Will Curb Production Cost In Oil Industry’

November 10, 2019 2:50 am

The Minister of State, Petroleum, Chief Timipre Sylva yesterday said that federal government would continue to support local content in the oil industry, noting that it would reduce the rising cost of production in the oil industry.

Sylva spoke while inspecting the 17-story Office Complex of the Nigeria Content Development and Monitoring Board (NCDMB) and a 10 mega-watts power plant in Bayelsa expected to supply electricity to the building, the Nigerian Oil and Gas Plant Scheme (NOGAPS) and selected government institutions.

Read Also: Hope Rises for Akpabio as A’Court Orders Rerun Election

Sylva said that local content to a large …

Nigeria Must Begin To Key Into The Circular Economy Model

November 10, 2019 2:48 am

Prof. Aliyu Jauro is a professor of Industrial Chemistry and sits atop the National Environmental Standards and Regulations Enforcement Agency (NESREA) as director-general/CEO. NESREA is the agency of government responsible for the protection and development of the nation’s environment, biodiversity conservation and sustainable development of Nigeria’s natural resources. Jauro is keen on Nigeria developing a circular economy that works for its citizens. He speaks with Nosa James-Igbinadolor

 

How will you describe the state of the Nigerian environment with respect to the work of NESREA?

Well, I wouldn’t say our environment is doing great at all, neither will I say …

Air Peace Acquires B737-800 Aircraft To Boost Operations

November 9, 2019 9:02 am

In line with its expansion plan, Nigerian carrier, Air Peace has acquired a B737- 800NG to boost its domestic and regional operations.

Mr Stanley Olisa, Corporate Communications Executive of the airline, confirmed the development to newsmen on Friday in Lagos. He said the aircraft arrived the Murtala Muhammed International Airport, Lagos at 8 p.m. on Thursday from Europe.

According to him, the new arrival is a 160 seater aircraft comprising 16 business class and 144 economy class seats. Olisa said: “Air Peace, West and Central Africa’s largest airline, last year became the first airline in sub Saharan Africa to place …

Trump Will Not Impose Tariffs On EU Cars

November 8, 2019 8:43 am
The outgoing president of the European Commission Jean-Claude Juncker said Friday he believes the US will not impose new tariffs on imported European cars in the coming days.
President Donald Trump’s administration has been threatening since last year to impose tariffs on auto imports to defend the US automaking sector, a symbol of American manufacturing.After postponing such measures in May, Trump is due to decide by mid-November whether to impose the supplemental tariffs on cars built in EU countries — a step particularly feared by the big German automakers.

But in an interview with a German newspaper, Juncker said he

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Stanbic IBTC Launches Virtual Wallet

November 7, 2019 7:19 am

Stanbic IBTC Holdings Plc, a member of Standard Bank Group, has launched the Stanbic IBTC virtual wallet called @ease wallet, in line with its commitment to deepen financial inclusion and drive its digitisation agenda.

The product is set to provide a unique range of financial services to the informally served, the underbanked and the unbanked on various structured platforms with the last 10 digits of a phone number.

Read Also: Rivers: I was Accused of Plotting To Kill Buhari, Says Abe

Stanbic IBTC @ease wallet affords customers the opportunity to access banking services such as interbank transfers, debit card issuance …

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