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Business & Economy

Rwanda, Senegal Presidents attend, as Tony Elumelu Foundation hosts 5th Annual Entrepreneurship Forum

PRESIDENT of Rwanda, His Excellency Paul Kagame and President of Senegal, His Excellency Macky Sall, will join Tony O. Elumelu, CON, TEF Founder and Chairman of Heirs Holdings and the United Bank for Africa (UBA) and 5 000 other African entrepreneurs as The Tony Elumelu Foundation (TEF), hosts its 5th …

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FAAN commences ICAO-sponsored ASTC certified trainings; holds risk management workshop

FOLLOWING the certification and designation of the FAAN training centre as an ICAO Aviation Security Training Centre on the 9th October, 2018, the Federal Airports Authority of Nigeria (FAAN), today, 23rd April 2019, held its inaugural ICAO sponsored training: ICAO Risk Management Workshop at the Aviation Security Training Centre, FAAN …

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FG commences restructuring, recapitalization of BoA with N250bn in 90 Days

FEDERAL Government yesterday said that it is considering the recapitalization of Bank of Agriculture (BoA) with N250billion in 90 days in collaboration with the Bureau of Public Enterprise (BPE) as part of plans to revitalize it. Minister of Agriculture and Rural Development, Chief Audu Ogbeh, who stated this in Abuja …

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Suspected adulterated substandard engine oil: court remands businessman in Prison custody

THE Federal High Court Ikoyi Lagos has remanded businessman, Cajetan Chike Muonagolu, in prison custody on a 4 count charge bordering on dealing in adulterated and substandard engine oil. The court presided over by Justice Saliu Saidu also admitted Muonagolu bail in the sum of N50million and two sureties in …

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Tony Elumelu Foundation highlights relevance, urgency of supporting entrepreneurial led economic growth in Africa

AT a time when Europe’s relationship with Africa is high on foreign policy and developmental agendas and with the European Union beginning to deliver on its 2017 External Investment Plan, targeted at attracting investment and job creation in Africa, the Tony Elumelu Foundation brought together leading stakeholders in the development …

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Mainstream Energy loses N1.8 billion annually to stranded Power

targets supply to Niger, B/Faso, other W/African countries MAINSTREAM Energy Solutions Limited, operators of Kainji Dam and Jebba Hydro Power plants says it loses at least N1.8 billion annually, a N900 million monthly average due to stranded power occasioned by load rejection by the National Control Centre, (NCC) . This …

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Akwaaba African Travel Market, Caribbean Tourism Organisation inks partnership at London AGM

AFRICAN Travel Market, Akwaaba, has concluded a partnership deal with the Caribbean Tourism Organisation for this year’s event slated for September 2019. The partnership was signed last year at the World Travel Market held in London. The Caribbean Tourism Organisation is the board that represents the tourism board of the …

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Air Peace, Embraer ink $2.1bn deal for 30 brand new E195-E2 jets

AIR PEACE today (Wednesday) set a continental record in Africa with the signing of a US$2.1bn deal for 30 brand new Embraer 195-E2 aircraft. The deal which was unveiled during Embraer Business Meeting with the Aviation World in Port Louis, Mauritius, makes Air Peace the first to order the brand …

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FIRS boss makes case for sustenance in VAT collection due to 44% increase in three years

as organization targets N750bn from 55,000 tax debtors EXECUTIVE Chairman, Federal Inland Revenue Service, Mr Tunde Fowler has indicated a growth in Value Added Tax (VAT) of over 44 per cent between 2015 and 2018 at the current five per cent rate, stressing the importance VAT despite that Nigeria still …

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How high oil prices shackled Nigeria’s productive sector- Osinbajo

"There was some impression that our country was an affluent country but the truth of the matter is underlying the jets, because there is no productivity whatsoever, because the owners of the jets are contractors and friends of those government and you could not tie the ownership of the jet and ownership of these kinds of luxury assets to any kind of productivity.

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