Oando Clean Energy’s Executive Vice President Ademola Ogunbanjo, said the company was committed the climate solution agenda to limit carbon greenhouse gas emissions in the world. Ogunbanjo who made the disclosure on Wednesday in Dubai during his presentation at the ongoing climate change conference, COP28, added that Oando will soon roll out 12000 electric buses…
Nigeria’s foreign trade rose by 53.16% to N18.8tn in third quarter of 2023. This is as crude oil revenue surged by 83.23 per cent to N8.54tn in the quarter under review. In the third quarter of 2022, total crude oil sales amounted to N4.66tn. Buoyed by an increase in trade activities in the period, total…
The Federal Government, in collaboration with the Bank of Agriculture, has disbursed N2.3m in agricultural loans to civil servants with the aim of bolstering the development of agriculture and enhancing food security in the country. The Head of the Civil Service of the Federation, Dr Folashade Yemi-Esan, who spoke while presenting cheques to four beneficiaries…
At a recent study conducted by the Danne Institute for Research disclosed that Lagos, the commercial hub of Nigeria, is losing a staggering N4tn annually, attributed to profound traffic congestion in the state. The study, titled ‘Behavioural Causes of Traffic Congestion in Lagos,’ funded by the Bank of Industry and Africa Finance Corporation, underscored the…
Barbara Bako, Abuja. The chairman, Federal Inland Revenue Service, FIRS, Zacch Adedeji, has charged non-domestic companies shipping crude oil from Nigeria to ensure strict compliance with the country’s tax laws in their operations. Adedeji gave the charge in Lagos at a workshop on taxation of non-resident shipping companies organised by FIRS in conjunction with Oil…
Barbara Bako, Abuja. The Nigeria Sovereign Investment Authority (NSIA) has unveiled a $500m Renewables Investment Platform for Limitless Energy (RIPLE). This transformative initiative is dedicated to the development, investment, and operation of renewable energy projects across the entire value chain. According to a statement from the NSIA, RIPLE is another of it’s milestone initiative in…
Barbara Bako, Abuja The Nigeria Deposit Insurance Corporation, NDIC, has distanced itself from a report doing round the social media platforms under the headline “CBN Liquidates 20 Banks – NDIC (Names).” According to NDIC, the 20 banks mentioned in the misleading reports were among the banks that had been previously closed due to the revocation…
The Federal Capital Territory Administration (FCTA) has inaugurated a Capital Gain Tax (CGT) Implementation Committee to boost Internally Generated Revenue (IGR) in the territory. Mr Chinedum Kelechi, the Mandate Secretary, Economic Planning, Revenue Generation and Public Private Partnership, FCTA, inaugurated the committee in Abuja on Tuesday. The News Agency of Nigeria (NAN) reports that the…
Barbara Bako, Abuja The Federal Government of Nigeria is set to formally unveil the Equipment Leasing Registration Authority (ELRA). The unveiling ceremony is to be performed by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun on Tuesday 7th November, 2023 in Abuja. ELRA recall that in Nigeria, particularly over the…
Amid increasing inflation and dwindling purchasing value of Nigeria’s Naira, one of the country’s capitalized leading banks, Zenith Bank Plc reported N505bn profit after tax for the third quarter ended September 2023. This was revealed in the lender’s unaudited third-quarter financial results filed with the Nigerian Exchange Limited. According to the financial group’s Q3 results, …
