Tag: business

Like Twitter, automobile giants Hyundia, KIA to establish plants in Ghana

South Korean multinational automotive manufacturers, Hyundai and KIA are set to establish assembly plants in Ghana by the end of 2022. Ghana’s minister for trade and industry, Alan Kyerematen, announced the development via his official Twitter handle on Thursday. According to him, the local assembly of vehicles will create 3,600[Read More…]

USSD SAGA: Will the suffering of Nigerians ever end?

By Michael Orodare According to the Oxford dictionary, suffering is defined as ‘The state of undergoing pain, distress, or hardship’. Irrespective of one’s social status in Nigeria, a resident in the country must experience one form of suffering or another. The issues stem from poor infrastructure such as bad roads,[Read More…]

Breaking: Inflation rate hits 14.23% – highest in 31 months

Nigeria’s headline inflation has risen for the 14th consecutive month, according to the latest inflation statistics by the National Bureau of Statistics (NBS) on Monday. The inflation rate stood at 14.23% in October, a 0.52% higher than 13.71% in September – Inflation measures the rate at which prices increase over[Read More…]

Dangote, Sinotrucks and 36 other companies get three-year tax holiday

The third quater-report by the Nigerian Investment Promotion Commission, revealed that, the following Nigerian companies are to enjoy a tax free period. The companies are; Dangote, Sinotrucks West Africa, Lafarge Africa Plc, Honeywell Flour Mills and 34 other firms have been given three-year tax holiday, in what the Nigerian Government[Read More…]

Chevron Nigeria Limited to Sack 25 Per Cent of Staff

Chevron Nigeria Limited (“CNL”), operator of the joint venture between the Nigerian National Petroleum Corporation (NNPC) and CNL (the “NNPC/CNL JV”) together with its affiliates, says it has commenced a review of “its manpower requirements in the light of the changing business environment.” To this end, the exercise would see[Read More…]

Lai Mohammed says rail construction to Niger Republic intended to take economic advantages of import and export of Niger Republic

The federal government said it approved the extension of rail construction from Lagos-Kano-Katsina to Marradi in Niger Republic for economic and commercial benefits. The Minister of Information and Culture, Lai Mohammed, gave the explanation on Friday when he featured on Nigeria Television. Authority (NTA) live programme, “Good Morning Nigeria” The programme[Read More…]

Buhari orders marketers of fertilisers to sell their products at N5,000 per 50kg bag

President Muhammadu Buhari has ordered marketers of fertilisers to sell their products N5,000 per 50kg bag, even amidst the scarcity and rise in prices of farm inputs recently in the open market. This was disclosed by the Jigawa State governor, Abubakar Badaru, at the meeting of the National Council on[Read More…]

Nigerians have taken to smart shopping online to save money, compare prices

By Emmanuel Nwachukwu Many will agree that the stock of digital businesses have risen tremendously in the wake of Covid-19 pandemic. The crucial role played by technology and ecommerce during the lockdown has further opened up the space for more possibilities. For many small and medium scale businesses that managed[Read More…]

Forex, uncertainty responsible for lack of fuel import by marketers – PPPRA laments

The Petroleum Products Pricing Regulatory Agency, PPPRA, blamed foreign exchange challenges and prevailing uncertainty for the inability of oil marketers to resume fuel import. Addressing newsmen in Abuja on Tuesday, the Executive Secretary of the PPPRA, Mr. Saidu Abdulkadir, explained that the Petroleum Products Marketing Company, PPMC, had been the[Read More…]

Nigeria’s Gross Domestic Product grew by 1.87% in Q1 – NBS

Nigeria’s Gross Domestic Product (GDP) grew by 1.87% (year-on-year) in real terms in Q1 2020. This is according to the first quarter (Q1) GDP report, released by the National Bureau of Statistics (NBS) on Monday. According to numbers contained in the Bureau’s report, the performance recorded in Q1 2020 represents[Read More…]