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Business

Nigeria’s Anti-People Public Institutions And The ‘Ise-Ijoba’ Syndrome By Simbo Olorunfemi

The World Bank Group has only just released its "2016 Annual Ease of Doing Business Measurement report". Even though Nigeria moved from its 2015 ranking of 170 to 169 in 2016, the country lagged behind other countries in sub-Saharan Africa, including our immediate neighbor, Benin Republic. It...

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Pilot Saves Pilgrims From Major Air Disaster

A pilot with Max Air Ltd. thwarted what would have been a major disaster involving a plane full of pilgrims at the Sir Ahmadu Bello International Airport in Kebbi State.

The incident occurred during takeoff when the pilot noticed that one of its engines was not “powering very well.”

Spokesman...

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Establishment Of New National Airline: Government Sets Up Committee

Nigeria on Monday took a major step towards establishing a new national airline with the inauguration of a committee in Abuja to look into the issue.  

A press statement issued by the Ministry of Aviation said Permanent Secretary Hajya Binta Bello charged the Ministerial Committee on the...

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Nigeria Energy Crisis 2: The NNPC Reforms We Deserve

The Nigeria National Petroleum Corporation (NNPC) is an organization that epitomizes the dysfunction of Nigeria’s energy industry. Nigeria’s inability to produce power is directly related to the inefficiency of NNPC, and their singular mismanagement of Domestic Gas Infrastructure Projects....

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Nigeria’s Energy Crisis -Part 1: Crash Or Cruise? By Michael Oluwagbemi

It has been said severally that if all that the new administration of President Buhari does is to save Nigeria from bleeding by securing the nation and tackling corruption, then he would have given a good account of his stewardship. But this won’t make him a great president. President Buhari...

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Before Wal-Mart Comes to Nigeria By Chidi Oguamanam

Recently, the Governor of Lagos, Nigeria’s most cosmopolitan State, was full of smiles and excitement as he hosted regional executives of America’s global retail chain, Wal-Mart. Governor Akinwunmi Ambode rolled out the red carpet and literally gave the Wal-Mart envoys a blank cheque of...

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Wal-Mart Is Coming To Lagos? Seriously? By Nwike Ojukwu

I read with consternation the statement credited to Governor Ambode of Lagos State when a delegation of Wal-Mart executives paid him a visit recently. There was something out of our character or un-Nigerian with the Governor’s exuberance and unusual generosity in his unequivocal commitment to...

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Union Bank Takes Over Sani Dangote’s Company Over Unpaid N4b Loan

Sani Dangote, the younger brother of the world’s richest black person,  Aliko Dangote, appears to have run into a major business crisis as Union Bank has taken steps to seize his Dansa Foods Limited.

The latest development follows the inability of Sani to pay back a loan of N4billion he...

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Nigerian Telecom Company MTN Sued For N200m Over Breach Of Contract

A Lagos Lawyer, Charles Dumber Mekwunye, has slammed a N200 million suit on telecommunications giant MTN Nigeria Communication Limited (MTNN), over an alleged breach of contract.

‪Joined as co-defendants in the suit are Lotus Capital Limited, an investment company; Stanbic IBTC Asset...

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Stanbic IBTC Awards N4m To Customers

stanbic_logo

Stanbic IBTC Awards N4m To Customers

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— Jul 21, 2015 5:24 am |

Stanbic IBTC Bank said that it has given out N4.22 million in prize money to 16 lucky winners of its Visa Gold credit card promo tagged Spend-and-Win.

The promo, which was in conjunction with Visa,...

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SEC Restates Commitment To Capital Market Master Plan

The Securities and Exchange Commission (SEC) has restated its commitment to implement the 10-year Capital Market Master Plan as the commission gets ready to host the Second Quarter 2015 Capital Market Committee (CMC) meeting.

According to a statement from the SEC yesterday, the CMC meeting will...

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Nigerian Passengers Reject Delta Airlines’ Old Planes

Nigerian passengers have rejected the continued use of the old Boeing 767 plane deployed on the Lagos-Atlanta route by Delta Airlines.

The plane, which frequently develops mechanical faults, has caused multiple flight delays and cancellations, causing the airline’s passengers to have traumatic...

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Buhari Approves Over $2B For Unpaid Workers Salaries; Directs CBN To Package Over ₦250B Special Intervention Fund For States

In his resolve to end the lingering crisis of unpaid workers' salaries in the country, especially in several beleaguered states, President Muhammadu Buhari on Monday approved a comprehensive three-pronged relief package.


These are:

* The sharing of about $2.1B in fresh allocation between the...

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CAP’s Shareholders Approve N595m Final Dividend For 2014

CAP’s Shareholders Approve N595m Final Dividend For 2014

— Jun 19, 2015 1:45 am |

Shareholders of CAP Plc has approved a final total dividend payout of N595 million for 2015 by the company’s management.

They also applauded the management of the bank for its policy of...

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Employment Directorate Worried Over Business Failures

National Directorate of Employment NDE

The National Directorate of Employment (NDE) is to partner with the Freemans Institute of Entrepreneurship and Business Development to offer qualitative training to ensure less business failure in the country.

The director-general (DG)of the NDE, Mallam Abubakar Mohammed, who dropped the hint in...

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Miners To Buhari: Rescue Solid Minerals Sector From Cabals

 Miners-at-work-mining

Miners To Buhari: Rescue Solid Minerals Sector From Cabals

— Jun 19, 2015 1:48 am |

President Muhammadu Buhari must rescue the solid minerals sector from the cabal that has held it hostage for nearly two decades if the new administration is to unleash that industry’s...

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