Daily News
PUNCH
Experts Kick as Federal Government Signs $1.96bn Kano-Maradi Rail Project MOU
The Federal Government on Monday announced that it had signed a Memorandum of Understanding with Mota-Engil Group for the construction of the $1.959bn Kano-Maradi standard gauge rail project. Minister of Transportation, Rotimi Amaechi, signed on behalf of the Federal Government, while the Managing Director, Mota-Engil, Antonio Gvoea, signed on behalf of the contracting firm… Read More
GUARDIAN
Highcap Stocks Lift Index Marginally
The Nigerian stock market commenced trading for the week with a marginal gain caused by appreciation in highly-capitalised stocks with the All-Share Index (ASI) rising by 0.08 per cent. At the close of transactions, the ASI gained 30.56 absolute points, representing a growth of 0.08 per cent to close at 40,150.78 points. Similarly, the overall market capitalisation value rose by N16 billion… Read More
THIS DAY
Insecurity of Oil Assets May Hinder Nigeria's Market Share
With the easing of production cut by the Organisation of Petroleum Exporting Countries and allies (OPEC+), experts have warned that insecurity in the oil-bearing Niger Delta might hinder Nigeria’s market share in 2021. They said if the vulnerable oil assets in the Niger Delta are left unprotected, the situation might lead to the shutdown of assets with attendant drop in production, thereby… Read More
VANGUARD
Post Privatisation: Nigeria’s Stranded Power Rises 263% to 3,742MW
Contrary to expectations, there are indications that Nigeria’s electricity sector has recorded huge set back since the private sector take-over seven years ago. Data obtained by Vanguard Energy last weekend shows that volume of stranded power has risen by about 263 percent to 3,742 megawatt (MW) as at end 2020, from 1,031MW it recorded when the power plants were handed… Read More
PUNCH
CAC Generates N19bn, Remits N2.7bn to FG’s Account
The Corporate Affairs Commission on Monday announced a revenue generation of N19bn for its 2020 fiscal year. It also announced a total remittance of N2.7bn to the consolidated revenue account of the Federal Government. The Registrar-General, CAC, Garba Abubakar, told journalists in Abuja that the commission had also settled all its tax obligations, adding that the obligations… Read More
VANGUARD
AfCTA: Federal Government Must Address Infrastructure Deficit to be Competitive — MAN
The Manufacturers Association of Nigeria, MAN, has called on the Federal Government to address the infrastructural deficit in the country to make the nation truly competitive following the take-off of the African Continental Trade Agreement, AfCTA, this month. MAN also expressed fears that unless proper implementation of the rule of origin, Nigeria may become a global dumping ground… Read More
THIS DAY
FIRS: Nigeria Lost N5.4tn to Tax Evasion by Multinationals
The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, yesterday said the country lost over $178 billion (about N5.4 trillion) through tax evasion by multinationals doing business in the country between 2007 and 2017. Nami, at a workshop on effective audit of multinational corporations for domestic revenue mobilisation in Nigeria, which was organized… Read More
PUNCH
NIN Registration Resumes, NIMC Workers Insist on Ultimatum
Workers of the National Identity Management Commission on Monday resumed the National Identity Number registration exercise in the commission’s offices across the country. However, the workers commenced the countdown of the 21-day ultimatum which they gave the Federal Government as touching welfare and safety issues for employees of the commission… Read More
VANGUARD
CIVIL WAR: Why we’re organising ‘Never Again’ parley —Utomi
DISTURBED by the divisions and stunted development caused by the Nigeria-Biafra civil war, some eminent Nigerians are determined to ensure that the country did not return to the deadly road, Professor Pat Utomi has said. This is the reason they will gather via zoom on January 14 to brainstorm on the issue, he said on Monday, with media executives. Utomi, who is the chairman… Read More