Sanusi to Commission Jaiz Takaful Insurance in Kano

By Adedapo Adesanya  The federal government, through the Nigerian Ports Authority (NPA), has announced plans to invest $1.1 billion to fully rehabilitate decaying port infrastructure at TinCan, Apapa, Rivers, Delta, Calabar, and Onne ports as part of efforts to improve the efficiency of the nation’s existing ports. Out of the estimated 47,000 kilometres of coastline in Africa, Nigeria makes up about 853 kilometres, creating the perfect opportunity to get access to its much-needed revenue. This coastline and a 200 nautical mile exclusive economic zone make up Nigeria’s coastline in the Gulf of Guinea. The coastline equals a maritime area of

By FBS As Black Friday approaches, global broker FBS delves into the relationship between the year’s biggest sales season and its impact on the financial markets. The FBS analysts particularly discover the trends of the world’s largest economy – the American. They analysed reactions across assets and macroeconomic conditions to understand the Black Friday impact better. What influences the Black Friday numbers FBS analysts highlight three critical indicators for gauging Black Friday’s impact on the US economy: the number of buyers, the average amount spent, and the total spending. Over the past 18 years, notably successful in terms of total

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, November 27 as expectations of renewed confidence that the Central Bank of Nigeria (CBN) would offer stability to the market. Before the market closed, there were indications that the CBN Governor, Mr Olayemi Cardoso, would share his plans for the Nigerian economy at a dinner for bankers in Lagos and this boosted a fresh hope, considering he had not offered a direction prior then. In the official market, the domestic currency gained N161.44 or 16.9 per cent against the Dollar

By Adedapo Adesanya  Nigeria’s economy, measured through its gross domestic product (GDP), witnessed a 2.54 per cent growth in the third quarter (Q3) of the year 2023. In a report published on Friday by the National Bureau of Statistics (NBS), the 2.54 per cent year-on-year growth in real terms in the third quarter of 2023 is higher than the 2.25 per cent recorded in the third quarter of 2022 and higher than the second quarter 2023 growth of 2.51 per cent. The bureau further said that the performance of the GDP in the third quarter of 2023 was driven mainly by

By Modupe Gbadeyanka Minister of State for Environment, Mr Ibrahim Usman Jibril, will today, Monday, June 19, 2017, commission the state/zonal office of National Environmental Standards and Regulations Enforcement Agency (NESREA) in Owerri, the Imo State capital. Ahead of the commissioning, the Minister arrived Owerri on Sunday alongside some members of the Ministry. On arrival, Mr Jubril led his team to the Government House in Owerri to meet with the Governor, Mr Rochas Okorocha. NESREA, a parastatal of the Federal Ministry of Environment, was created to ensure a cleaner and healthier environment for Nigerians. It has the responsibility for the

By Dipo Olowookere Management of Kaduna Electricity Distributions Company has dismissed about 140 of its workers for academic qualifications’ racketeering. The affected employees were said to have presented fake results, tampered with their grades or failed to complete some approved courses. Kaduna Electric explained that it was able to fish out these dismissed workers after it engaged a consultant to check all forms of examination fraud by any of its employee. Disclosing in a press statement issued by its Head of Corporate Communications, Mr Abdulazeez Abdullahi, the company said the affected members of staff were laid-off last week. Quoting the

By Bliss Okperan The Minister of FCT, Mr Nyesom Wike, has been advised to extend an olive branch to the Governor of Rivers State, Mr Siminialayi Fubara. The Minister, who handed over the reins of Rivers State to Mr Fubara, has been at loggerheads with his successor. A few weeks ago, some lawmakers of the Rivers State House of Assembly loyal to Mr Wike attempted to impeach the Governor, but President Bola Tinubu quickly intervened and doused the tension. However, all is still not well with both parties, with the Minister granting an interview last week to accuse his ‘political

By Adedapo Adesanya The Nigerian Naira weakened on the American Dollar across the various segments of the foreign exchange (FX) market; Investors and Exporters (I&E), black market, and the Peer-2-Peer (P2P) windows, on Wednesday, June 21. In the I&E segment, the Naira crumbled by N6.56 or 0.87 per cent to settle at N763.17/$1 compared with the previous day’s value of N756.61/$1 amid a decline in the forex turnover by 28.28 per cent or $38.03 million to $96.44 million from $134.47 million. Also, in the P2P arm of the market, the Naira depreciated against the US Dollar by N9 to sell

By Modupe Gbadeyanka Africa’s top statisticians met in Grand Bassam, Cote d’Ivoire to discuss the status and challenges of producing economic statistics in Africa and to take stock of the various efforts underway in modernizing official statistics. Organized by the African Union Commission (AUC) and the Economic Commission for Africa (ECA), in collaboration with the African Development Bank (AfDB), the theme of the meeting was: Strengthening economic statistics to support Agenda 2063 and Agenda 2030 for Sustainable Development. Addressing the opening, Oliver Chinganya, Director at the ECA’s African Centre for Statistics, said the SDGs and Agenda 2063 have imposed greater

By Modupe Gbadeyanka Chairman of the Presidential Task Force (PTF) on COVID-19 in Nigeria, Mr Boss Mustapha, has praised Governor of Kano State, Mr Abdullahi Ganduje, for the way he has handled the pandemic in the state. Addressing newsmen in Abuja on Thursday, Mr Mustapha, who is also the Secretary to the Government of the Federation (SGF), said he was impressed with the way the Governor has managed the situation. “The proactive leadership of the Kano State Governor in the management of emerging challenges is highly commendable,” Mr Mustapha said yesterday. “I wish to use this opportunity to reassure all

By Modupe Gbadeyanka President Muhammadu Buhari has formally launched the much-awaited Economic Recovery & Growth Plan (ERGP, 2017 – 2020). During the ceremony held on Wednesday in Abuja, Mr Buhari disclosed that Nigeria aims to achieve a 7 percent growth rate by the year 2020. Speaking during the launch, the President said, “The ERGP brings together all our sectoral plans for agriculture and food security, energy and transport infrastructure, industrialization and social investments together in a single document.” He added that, “It builds on the Strategic Implementation Plan and sets out an ambitious roadmap to return the economy to growth.”

By Modupe Gbadeyanka One of the major highlights of the recently-held annual Career Fair of the Nile University of Nigeria in Abuja was the focus on employability issues and the event afforded participants to learn from experts in the field. More than 3,000 students and others were present at the university campus in Abuja, with professional career advisors guiding graduates and interns on career strategies, skills development, CV writing techniques, setting up LinkedIn profiles, interview preps, and internship opportunities. Over 50 organisations including the Association of Chartered Certified Accountants (ACCA), Providus Bank, Access Bank, Bank of Industry, Huawei Technologies, HP