News - Business and Economy

SAMBO RAISES ALARM OVER RATE OF OIL THEFT IN THE COUNTRY

3 years ago /

The Nigerian government says the menace of oil theft is undermining efforts at delivering its pledge to transform the country.

AT LEAST 48 BILLION DOLLARS FEARED MISSING FROM NIGERIA'S FEDERATION ACCOUNT

3 years ago /

In yet another controversy surrounding the Nigerian National Petroleum Corporation, NNPC, the Central bank Governor has taken decisive measures to ensure that proper investigations be carried out into the activities of the organization.

GOVERNOR AMAECHI CALLS OUT DR. NGOZI IWEALA

3 years ago /

Rivers state Governor Chibuike Amaechi is seeking the intervention of the National Assembly to enable the state access a loan facility from the World Bank and the African Development Bank for the provision of portable water in the state.

 

ITALY: European Union bemoans Italy's debt refund schedule

3 years ago /

EU Economic and Monetary Affairs Commissioner Olli Rehn said in an interview that Italy is not reducing its debt quickly enough and has no room for maneuver on structural deficit reduction.

 

BRITISH CONSTRUCTION SECTOR RECORDS MASSIVE IMPROVEMENTS

3 years ago /

A survey of purchasing managers shows Britain's construction sector unexpectedly picked up more speed in November, hitting its strongest levels of output and employment since August 2007.

BRITISH PRIME MINISTER FACES CRITICISM FOR PROPOSED TRADE RELATIONS WITH CHINA

3 years ago /

British Prime Minister David Cameron promised China's leaders on Monday that he would advocate a multi-billion-dollar free trade deal between Beijing and the European Union; an action which has irritated the EU executive as they consider such proposal as premature.

 

INDONESIA: STUDENTS PROTEST WTO POLICIES; ACCUSE THEM OF BIAS

3 years ago /

A group of Indonesian students staged a protest in front of United States Consulate General office on Monday ahead of the World Trade Organization ministerial conference in Bali.  

 

EU SUMMIT: Ukraine's Yakunovic stands his ground

3 years ago /

The European Union says it will not accept a veto by Russia on the bloc ties with the former Soviet republics.

 

IMPORTED VEHICLES: Reps move to suspend increase in duties till Nigeria begins production

3 years ago /

A tense atmosphere fell over the House of Representatives’ sitting when the issue of the proposed increase in custom duties of imported vehicle was raised. Passionate arguments were made, most of which called for a suspension of the increase.

 

EU leaders set for tough table-talk with Ukraine's Yanukovic

3 years ago /

1 of 6 People dressed in outfits of various popular professions in Ukraine carry a coffin symbolising Ukraine's Euro-association and an airplane ticket back to Brussels to the EU Delegation building in Ukraine during a symbolic funeral procession and an anti-Europe rally in Kiev November 28, 2013.

 

China's Huawei to roll out 4G service in Ethiopian capital

3 years ago /

Ethiopia's state-run Ethio Telecom said on Thursday it had picked Huawei Technologies Co Ltd, the world's second largest telecom equipment maker, to roll out a high-speed 4G network across the capital Addis Ababa.

 

EUROPE: BRUSSELS - EU POLICY

3 years ago /

Parliament's scrutiny of European issues and laws emanating from Brussels should be overhauled to ensure greater accountability.

 

REVENUE GENERATION: Federal government to realise 75 billion naira in 2014 from tax defaulters

3 years ago /

Some observers have described petroleum products as Nigeria’s undoing rather than a blessing but the Nigerian government has begun a practical move to turn the tides. Though the Federal Inland Revenue Service has projected the revenue base of 2.2 triliion naira for 2014, the institution will work with a Tax consultancy firm to raise an additional 75 billion naira next year. The funds will be realised from over 65% of existing tax evaders in the country.

HOUSING POLICY: World Bank to give Nigeria $300 million Mortgage loan

3 years ago /

Statistics have shown that Nigeria has a Housing deficit of 17million units. Many basic requirements such as sanitation and water supply are clearly inadequate even in the already existing infrastructure.

Nigerian Content Conference: Stakeholders want more participation of Nigerians in all sectors of the oil Industry

3 years ago /

The Workshop and exhibition which was organized to iron out whichever impediments to the implementation of the Local Content proposal attracted over 400 Oil industry experts, representatives of host communities and was organized by the Nigerian Content Development and Monitoring Board and the Bayelsa state government.

 

BUSINESS: EUROZONE RECOVERY SUFFERS SETBACK

3 years ago /

The fragile global economic recovery took a step backwards this month as businesses across the Eurozone and China's vast factory sector grew at a milder pace.

 

ECONOMIC TRANSFORMATION OF SINGAPORE, A LESSON FOR NIGERIA?

3 years ago /

Singapore is one of the world’s leading commercial hubs, with the fourth-biggest financial centre and one of the five busiest ports. Its globalized and diversified economy depends heavily on trade, especially in manufacturing. Singapore has the third-highest per capita income in the world. It ranks high in international rankings of education, healthcare, government transparency and economic competitiveness. All these, this sovereign city-state and island country situated in South-East Asia achieved in a little over fifty years. We bring this to your attention hoping that there may be some lessons that our nation may learn from the success story of Singapore on our quest for economic transformation.

BUDGET 2014: NATIONAL ASSEMBLY REACTS TO ANOTHER CANCELLATION OF BUDGET PRESENTATION

3 years ago /

Reacting to the President’s failure to show up for the 2014 Budget presentation once again, the honorable Members of the House of Representatives and the Senate have expressed varying views as to the excuse given by the Presidency.

ECONOMY: PRESIDENT JONATHAN TO TRAVEL TO ENGLAND TO MEET WITH INVESTORS

3 years ago /

President Goodluck Jonathan is to travel to London today to meet with International Investors. The President is to preside over the meeting of Nigeria’s Honorary International Investors’ Council which is expected to last for three days.

 

NIGERIAN GOVERNMENT APPROVES $1BILLION FROM EXCESS CRUDE ACCOUNT

3 years ago /

The Nigerian government has approved the sum of $1billion (one   billion dollars) from the excess crude account as augmentation for allocation to the three tiers of government for the month of October