Business

PPMC raises concern over incessant pipeline vandalism

The Pipeline and Products Marketing Company (PPMC) has raised concern over the incessant pipeline vandalism across the country. Nasir Imodagbe, the PPMC’s spokesman, said that activities of oil thieves, who incessantly destroyed pipelines with the aim of stealing products, were having damaging effects on the economy. Imodagbe said the increasing incidence of pipeline vandalism, especially in the Mosimi – Ijegun ...

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ECOWAS approves $50 million for Trans-West Africa highway

The Economic Community of West Africa States (ECOWAS) on Thursday in Addis Ababa, Ethiopia approved $50 million for the commencement of detailed design studies of the Trans-West Africa highway project. President Goodluck Jonathan announced the approval during a meeting of ECOWAS member-states on infrastructure development, held on the sidelines of the ongoing 22nd AU Summit in Addis Ababa. The News ...

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Google sells Motorola unit to Lenovo for $2.9B

Google confirmed on its site that it has sold Motorola for $2.91 billion, consisting of $660 million in cash and $750 million in Lenovo shares, with the remaining $1.5 billion paid in the form of a three-year promissory note. Reuters earlier reported on the deal. Lenovo gets the Motorola brand, as well as its portfolio of devices, including the Moto ...

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Fish farmers benefit from free inputs

More than 300 artisan fish farmers in the Edo State have benefited from the distribution of subsidised fishing inputs introduced by the federal government to enhance the growth of the sector. The beneficiaries were drawn from Agenebode Akeh, Udochi, Udaba-Ekperi, Ofukpo, Osemegbe, Illushi, Ifeku Island, Evbuarue-Nukpo, Gelegele, Oregbeni, Temboga, Ogbese and Olumoye communities all in the state. The programme is ...

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23 Commercial Banks get N229bn from BOL

The Bank of Industry said it had disbursed the sum of N229.18bn under the Restructuring and Refinancing Fund scheme. The amount, according to the bank, was allocated to 23 commercial banks and one Development Finance Institution that participated in the RRF scheme. The Chairman, Shareholders committee of the bank, Mr Mohammed Dikwa gave the figure on Friday in Abuja during ...

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Creative industry awards Okonjo-Iweala

The Creative Entrepreneurs Association of Nigeria (CEAN) has been named coordinating Minister of Finance, Dr Ngozi Okonjo-Iweala, as the best overall contributor to the development of the Nigerian creative industry. CEAN will confer the  on her at the 2013 Creative Industry Awards event scheduled for Saturday at the British Council Gardens in Ikoyi, Lagos. The organization said the award was ...

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Dates revealed for first locally-made cars

Nissan, the Japanese car maker, said it would commence the assembly of locally-made cars in April. Senior officials revealed this at following a meeting with the President Goodluck Jonathan at the World Economic Forum in Davos, Switzerland. Nissan Chief Executive Officer, Carlos Ghosn, said the company planned to roll out the first “made in Nigeria” 4 X 4 Utility SUV ...

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CBN releases new draft guidelines for Finance Houses

The Central Bank of Nigerian (CBN) has released draft guidelines for the operations of finance houses operating in the country The President of Finance Houses Association of Nigeria (FHAN), Samuel Durojaye, made the disclosure of the impending overhaul of the sub-sector in an interview with the News Agency of Nigeria (NAN) in Lagos. According to him, the CBN in the ...

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Nigeria threaten to overtake South Africa as biggest economy

South Africa could soon lose its status as Africa’s biggest economy to Nigeria, but in the race to be the continental powerhouse being biggest may not be everything. Nigeria, Africa’s No. 1 oil producer, will complete a rebasing of its gross domestic product (GDP) by next month, its statistics office says, which economists estimate could expand the size of its ...

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Forex 24: Stress Kills Trades

Have you ever entered a trade and immediately began to feel your heart pound, noticed that you were breathing heavily, found that it was difficult to maintain your concentration and on top of that felt a strong wave of anxiety travel through your body?  Well, what you were experiencing are the effects of stress; and once they have begun to affect ...

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