Wally Adeyemo Advises Nigeria to Fix FX Issues to Attract FDIs

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By Aduragbemi Omiyale The Vice President, Mr Kashim Shettima, has said Nigeria is in dire need of foreign direct investment (FDI) more than ever before, tasking domestic and foreign investors to make Nigeria their investment hub because efforts are being made to formulate business-friendly policies. Mr Shettima, while speaking when he hosted the management of First Surat Group, as well as top management of MTN Nigeria at the presidential villa in Abuja, charged MTN Nigeria to facilitate and spearhead digital mobile money and digital education. He assured that President Bola Tinubu was willing to partner with various stakeholders in the

By Adedapo Adesanya The Federation Account Allocation Committee (FAAC) has shared a total of N1.1 trillion from the revenue generated by the nation in August 2023 for September to enable the three tiers of government; the federal government, states, and local government councils, to have funds to pay salaries and others. The allocation of the funds was confirmed by the Office of the Accountant General of the Federation on Friday following FAAC’s September 2023 meeting. According to a statement by the OAGF’s Director of Press and Public Relations, Mr Bawa Mokwa, there was “N1100.101 billion (N1.1 trillion) total distributable revenue.”

By Dipo Olowookere No fewer than 15 Nigerian Small and Medium-sized Businesses (SMBs) will share the N75 million set aside by a tech giant, Google, in the 2023 edition of Hustle Academy Fund. The initiative was introduced in 2022 to provide equity-free funds to small business owners to scale up their operations and support entrepreneurial growth in Nigeria. Entries for the exercise opened on Thursday, September 28 and will close on Thursday, October 12, 2023, and to be eligible, businesses must be Nigerian-founded, operating within Nigeria for 1-5 years, and have a clear and scalable business plan. They should have

By Modupe Gbadeyanka President Muhammadu Buhari has expressed his displeasure over the ongoing Russia-Ukraine conflict, saying the crisis was lasting too long and was already hurting many people. Mr Buhari gave his opinion on the issue when he had a meeting with members of the diplomatic corps in Abuja on Thursday, urging world leaders to quickly look for a way to bring the war to an end. On February 24, 2022, Russia invaded its European neighbour after Ukraine failed to back down on its plans to join the North Atlantic Treaty Organization (NATO), with the United States as one of

By Modupe Gbadeyanka The Group Managing Director of Access Bank Plc, Mr Herbert Wigwe, recently distributed some food materials to residents of Isiokpo in Rivers State. The items were shared to members of the community by the renowned banker through his not-for-profit organisation known as Herbert Onyewumbu Wiwge (HOW) Foundation. Several families who received the foodstuffs and relief packages worth millions of Naira, could not hide their excitement for the kind gesture. Mr Wigwe said the distribution of the foodstuffs to people was a conscious plan to tackle the post-coronavirus pandemic effects. He said a lot of businesses have been

By Modupe Gbadeyanka Governor Willie Obiano of Anambra State has presented a budget of N166.9 billion for the 2018 fiscal year. Mr Obiano, yesterday, presented the appropriation bill to the Anambra State House of Assembly and tagged it ‘Budget for Value for Money, Economic Diversification and Job Creation.’ He said it represents a 44 percent increase on the 2017 budget, stating that it comprises N63.9 billion for recurrent expenditure and N103.1 billion for capital expenditure. The Governor said in the proposal, road construction and rehabilitation got the highest allocation of N27.93 billion followed by education with N9.5 billion. “This budget

By Adedapo Adesanya BUA Group has donated N200 million to the Sokoto State University for the construction of an Information and Communication Technology (ICT) faculty building in the state-owned conventional degree awarding institution. The donation was announced by the founder and chairman of the group, Mr Abdul Rabiu, during the university’s 2021 convocation ceremony held on Saturday, March 13. The gesture is to support the institution’s quest towards becoming one of Nigeria’s leading universities, especially in the advancement of talents in the ICT speciality. Stressing the relevance of the donation, the foremost industrialist and philanthropist explained that Sokoto State is

By Dipo Olowookere Profit taking activities of investors on the floor of the Nigerian Stock Exchange (NSE) ensured that local equities closed lower by 0.58 percent on Wednesday. It was observed that selloffs across the sectors reduced the All-Share Index (ASI) by 151.69 points to 26,223.66 points from 26,375.35 points and the market capitalisation by N73.8 billion to N12.766 trillion from N12.839 trillion. At the midweek trading session, the market breadth closed negative with 12 price losers and 10 price gainers. Presco led the losers’ chart after going down by N3.80 to finish at N34.60 per unit. Dangote Cement lost

By Modupe Gbadeyanka The management of Nigerian National Petroleum Corporation (NNPC) has expressed its willingness to complete an addition 1000km gas pipeline infrastructure across the country. Speaking on Tuesday in Abuja at the 2017 Conference and Annual General Meeting of the Nigerian Society of Engineers (NSE), Group Managing Director of the NNPC, Dr Maikanti Baru, stated that so far, his agency has completed, commissioned and delivered 500km of gas pipelines from 2010. He listed the gas pipelines so far delivered to include the 196km Oben Gas Plant to Geregu Power Plant pipeline, 110km Escravos-Warri-Oben gas pipeline, 128km Ukanafun-Calabar pipeline, 50km

By Olubori Oduntan One of Nigeria’s leading Quick Service Restaurant chains, Tantalizers Plc, has commenced a raining season promotion to reward valuable customers and appreciate their patronage to the brand. A statement issued by the firm disclosed that to participate in this promotion, interested customers must make product purchases worth minimum N2,500 from any Tantalizers outlet in Nigeria. According to the statement, this promotion will run in all Tantalizers outlets across the nation. Deputy Managing Director of Tantalizers Plc, Mr Gbolahan Labinjo, explained in the statement that the ‘Raining Season’ promotion is a national sales promotion which rewards customers with

By Adedapo Adesanya Members of the National Youth Service Corps (NYSC) comprising the 2022 Batch C and 2023 Batch A, under the Charity Community Development Service (CDS) group in Alimosho Local Government on Thursday, July 20, put smiles on the faces of children of the Finger of God Orphanage in Ikotun, Lagos. The corp members, undergoing their mandatory one-year-long service to their fatherland, reached out to the kids as part of their efforts to have a positive impact on their community of service. Donated items included packs of spaghetti, noodles, tubers of yams, condiments, and vegetable oil, among others. Speaking