Business

PDP accuses APC of looting Government funds for elections

The Peoples Democratic Party (PDP) has accused the Muhammadu Buhari Presidency of allowing the alleged mass looting of public funds to corruptly create a war chest for the APC to intimidate Nigerians and muscle the 2023 general elections. The PDP in a statement on Tuesday claimed that the All Progressives[Read More…]

Experts react as FG slams 5% exercise duty on recharge cards

Mr Adebayo Adesina, President of Chartered Institute of Taxation of Nigeria (CITAN), says the approval of five per cent exercise duty on telephone recharge cards by the Federal Government is more of an indirect tax. Adesina said this in an interview with the News Agency of Nigeria (NAN) on Monday in[Read More…]

Aviation fuel not selling at N700 per litre, Oil Marketers claim

The Major Oil Marketers Association of Nigeria (MOMAN) has debunked claims that Aviation Turbine Kerosene (ATK), also known as aviation fuel, was being sold at N700 per litre in some parts of the country. Mr Clement Isong, Executive Secretary, MOMAN, made this known in an interview with the News Agency[Read More…]

Why Peugeot, Volkswagen, others stop production in Nigeria

Alhaji Jelani Aliyu, the Director-General (DG), National Automotive Design and Development Council (NADDC), has claimed the drop of crude oil price from US$27 per barrel, to below US$10 in the 70s and 80s was the reason automakers like Peugeot, Volkswagen, Anamco and Leyland left Nigeria. Aliyu also noted that there[Read More…]

N700/litre Aviation Fuel: FCCPC begs airlines to shelve proposed service shutdown

The Federal Competition and Consumer Protection Commission (FCCPC) has appealed to domestic airline operators to shelve their proposed service shutdown, considering the effect on passengers, difficulties and hardship associated with the action. Mr Babatunde Irukera, the Executive Vice Chairman of FCCPC, made the appeal in an interview with the News[Read More…]

Naira weakens against dollar, exchanges at N419

The Naira on Thursday depreciated at the Investors and Exporters window exchanging at N419 to the dollar, a 0.24 per cent depreciation, weaker than N418 it traded on Wednesday. The open indicative rate closed at N417.40 to the dollar on Thursday. An exchange rate of N444 to the dollar was[Read More…]

Naira gains marginally, exchanges at N418 to dollar

The Naira on Wednesday appreciated at the Investors and Exporters window exchanging at N418 to the dollar, a -0.24 per cent appreciation, stronger than N419.00 it traded on April 29. The open indicative rate closed at N417.00 to the dollar on Wednesday. An exchange rate of N444 to the dollar[Read More…]

Badagry seaport to generate $2.6bn, employ 80,000 when operational — FG

The Federal Government says the Badagry Seaport is estimated to generate about 2.6 billion dollars and create job opportunities of over 800,000 when operational. Mr Micheal Ohiani, the Acting Director-General, Infrastructure Concession Regulatory Commission (ICRC), said this when he led a team to visit the Minister of Transportation, Rotimi Amaechi,[Read More…]

Naira appreciates, sells at N417.30 to dollar

The Naira exchanged at 417.30 to the dollar at the Investors and Exporters window on Monday, representing a -0.25 per cent appreciation, compared to N418.33 to the dollar recorded on Friday. The open indicative rate closed at 417.92 naira to the dollar on Monday. An exchange rate of 444 naira[Read More…]

The Truth About Pay in the High-Tech World

When it comes to the rarified air of high-tech, there’s a certain mystique surrounding pay practices, particularly as they relate to location, job type, and pay for performance. Employers of all sizes and in all fields want to know how and why these companies compensate their people the way that[Read More…]