Oil super major, Royal Dutch Shell, has declared plans to sack 9,000 staff as part of a major shake-up to cut costs and raised annual savings of up to $2.5 billion (£1.9 billion) by 2022. The company, which announces this yesterday, declared that about 1,500 of the staff slated for mass sack have agreed to […]
The Business Founders Coalition has urged the Federal Government to evolve policies that would disallow foreign investors from having controlling rights in Nigerian businesses. Dr Richardson Ajayi, Founder, Synlab Nigeria, made this assertion on behalf of the coalition during a media briefing in Lagos, on Tuesday. Ajayi, who is also the Executive Vice Chairman of […]
The Federal Government has ordered the Electricity Distribution Companies in the country to suspend the recent hike in tariff. The Nigerian Electricity Regulatory Commission (NERC) issued the order on Tuesday night. This followed an agreement reached by the Federal Government and Organised Labour for the suspension of the hike in tariff for 14 days. According […]
Federal Government Monday said that there are no plans to Scrap the Nigerian National Petroleum Corporation, NNPC in the Petroelum Industry Bill 2020 that has been transmitted to the National Assembly by President Muhammadu Buhari. Answering questions from journalists in Abuja after an interactive meeting with the leadership of the National Assembly, Minister of State […]
Speculators in agricultural commodities, especially middle men in the rice market, who are hoping to cash in on widespread flooding in some parts of the country to jerk up prices, will get their fingers burned, the Central Bank of Nigeria (CBN) has warned. The Director, Development Finance Department, at the apex bank, Mr. Philip Yila […]
President Muhammadu Buhari on Thursday, said the Companies and Allied Matters Act , 2020 which he recently signed into law would enhance transparency and corporate accountability and help the fight against corruption. The Special Adviser to the President on Media and Publicity , Femi Adesina , disclosed this in a statement titled “ CAMA Act […]
Regulatory Agency (PPPRA) says the Federal Government has spent a total of N8.94 trillion on oil subsidy between 2006 and 2015. The agency disclosed this in a document on subsidy payment released in Abuja on Monday. It said that the subsidy was paid to oil marketers and the Nigerian National Petroleum Corporation (NNPC) in the […]
The Nigerian Stock Exchange (NSE), Nigerian International Securities Limited (NISL) and the Chartered Institute of Stockbrokers (CIS) expressed commitment to expanding retail investment opportunities in the capital market. The trio made the commitment at a webinar organised by the NSE in collaboration with the NISL in Lagos. It was also supported by the CIS and […]
• Brokers blame uncertainty, harsh business climate • Experts decry poor infrastructure for tech hardware With global technology companies, including Apple, Amazon, Netflix, Zoom, apparently doing well, and to a large extent, influencing gradual recovery of the US stock market, some surpassing the $1 trillion valuation, the challenge is gradually shifting to players in Nigeria. […]
President Muhammadu Buhari on Sunday night met behind closed doors with President Nana Akufo-Addo of Ghana at the Presidential Villa, Abuja. Bashir Ahmad, the President’s Personal Assistant on New Media, confirmed this on his Twitter handle. The presidential aide, who could not elaborate on the agenda of the meeting between the two leaders, however, posted […]
