Sunday , 14 August 2022

Business & Economy

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 said the plan was to restructure, reform and recapitalize BoA …

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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 finance sector, at a case study session in the EU …

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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 is just as the company said it has initiated talks …

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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 of jets in the whole of Africa, thereby becoming the …

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Ifeyinwa Ugochukwu assumes office as CEO, Tony Elumelu Foundation on April 1

IFEYINWA Ugochukwu, former Director of Partnerships and Evaluation, Tony Elumelu Foundation has assumed her new role as the Foundation’s CEO on April 1. [Ifeyinwa becomes the third CEO and the first African to become the Chief Executive Officer of the Tony Elumelu Foundation.] In December 2018, the Foundation, the leading African philanthropy committed to empowering African entrepreneurs, announced Mrs. Ugochukwu’s …

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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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NAAE re-elects Nwose, other excos at Biennial General Meeting

LAGOS State chapter of the National Association of Air Traffic Engineers (NAAE) has re-elected Anthony Nwose of the Air Traffic Safety Electronics Personnel (ATSEP) as the Chairman and other executives at its Biennial General Meeting held alongside its annual symposium. The event which held on the 28th March, 2019 at the Welcome Centre Hotels, Lagos with the theme: “Cyber Threat …

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FAAC shares N619,857b to FG, states and local governments

FEDERAL Accounts Allocation Committee(FAAC) has shared N619,857 billion federal revenue generated in the month of February 2019 among the three tiers of governments This is just as the FAAC has announced that the Excess Crude Account has the sum of $183million as at March 27, 2019. A communique issued by FAAC indicated that from the total revenue of N619,857 billion …

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