NESG moves to strengthen institutional framework for economic growth The Nigeria Economic Summit Group (NESG) has established a centre for legislative reforms and economic development in its bid to build synergy between the public and the private sector. Speaking at the launch of the initiative at the ongoing NESG[Read More…]
City of Houston, Texas, USA proclaims October 25 as FITCC Day In recognition of Fidelity Bank Plc’s commitment to fostering bilateral trade and economic development between the city of Houston, Texas and Nigeria, the City of Houston has designated October 25 as “Fidelity International Trade and Creative Connect Day”.[Read More…]
NCDMB, SON lead FG’s EO1 compliance report The Presidential Enabling Business Environment Council (PEBEC) has released its 2023 Biannual Executive Order 001 (EO1) Compliance Report, showing Nigerian Content Development and Monitoring Board (NCDMB), Standards Organisation of Nigeria (SON), and the Nigeria Agricultural Quarantine Service (NAQS) emerged as the top[Read More…]
Petroleum institute completes modular refinery, to commercialise output The Petroleum Training Institute, an agency of the Federal Ministry of Petroleum Resources, has announced the completion of its modular refinery with a target to scale up its capacity for commercial purposes. PTI, located in Effurun, Delta State, also stated that[Read More…]
Daily petrol consumption drops to 44.3 litres -NMDPRA Domestic consumption of Premium Motor Spirit (PMS) or petrol in the country has recorded a significant drop after the deregulation occasioned by fuel subsidy removal. According to the Chief Executive Officer, Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed,[Read More…]
NNPCL confirms Warri refinery fire incident The Nigerian National Petroleum Company Limited, on Friday, confirmed a fire incident at the Warri Refinery and Petrochemical Company Limited. It, however, stated that the fire was contained, adding that the incident would not affect the ongoing rehabilitation of the refinery. The national oil[Read More…]
MABISCO shuts down operation The owners of major indigenous biscuits company in Nigeria, Mayor Biscuits Company Limited, says they will sell the multi-million-dollar biscuits plant to reinvest the proceeds into a new line of business. In a statement signed by the Finance Director of the company, Segun Matthew, prior to[Read More…]
Tinubu approves ₦35,000 minimum wage for civil servants President Bola Tinubu has officially approved the sum of ₦35,000 minimum wage for all federal civil servants. The approval was announced in a circular issued by the National Salaries, Incomes and Wages Commission (NSIWC) on Thursday. The circular, which was signed by[Read More…]
Access Bank Plc, EIB Partner To Empower SMEs, Women Through €50 Million Facility Access Bank Plc and the European Investment Bank (EIB), on Thursday, signed a memorandum of understanding, to deploy the long-term financing of 50 million euros, aimed at boosting the financial inclusion of young people and women[Read More…]
Tinubu appoints Olasupo Olusi, World Bank economist, as BoI CEO President Bola Tinubu has appointed Olasupo Olusi, a World Bank economist and development finance expert, as the new managing director and chief executive officer (CEO) of the Bank of Industry (BoI). Ajuri Ngelale, special adviser to the president, in a[Read More…]
