The Federal Government has concluded plans to introduce cargo delivery by rail to the Kaduna Inland Dry Port. Mr. Tahir Idris, Director, Special Duties, Nigerian Shippers Council (NSC) said in statement in Abuja recently, that the inauguration was scheduled to hold on May 7, at the facility’s premises in Kakuri, Kaduna State. Idris said in…
In order to encourage more innovations in the payment system, the Central Bank of Nigeria, is putting in place a Collateral Management Regime to regulate the activities of Fintech firms and startups in the country. The Director, Payments System Management Department, Sam Okojere, who represented the Governor of the CBN, Godwin Emefiele, disclosed this in…
There is a high probability that a total of 74 Local Government Areas across the country will witness high flood risk when the rainy season begins in full this year, the Nigeria Hydrological Services Agency announced recently. In its 2019 Annual Flood Outlook, which was unveiled in Abuja by the Minister of Water Resources, Suleiman…
The Federal Government will release a new gas pricing template before May 29, to address what it describes as ‘unreasonable tariffs’ imposed by gas distributors on natural gas used by commercial consumers in the manufacturing sector. The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, during an interactive session on National Gas Policy and…
Nigeria will have to spot opportunities for development in the age of technology or be left behind. This view was shared by experts in Lagos during the Nigerian-American Chamber of Commerce April Business Luncheon which held on 25th April, 2019 at the Lagos Oriental Hotel, Victoria Island, Lagos. “Since the fourth Industrial revolution builds on digital…
The Federal Government has commenced moves to rehabilitate the old Burutu port in Delta State and dedicate it to shipment of solid mineral. The Managing Director, Nigeria Export and Import Bank, Mr. Abubakar Bello, gave this indication at a recent stakeholders’ meeting on the cessation of Cabotage waivers. According to the NEXIM bank chief, Nigerian…
The Africa Enterprise Challenge Fund has inaugurated the second round of its household solar competition worth £16m to promote access to solar home systems to rural dwellers in Nigeria and four other African countries. It said the programme, which was done in partnership with the United Kingdom, would provide solar power to not just households…
The Federal Government has pledged to complete the construction of satellite Assembly, Integration and Testing (AIT) centre at the National Space Research and Development Agency. Minister of Science and Technology, Dr. Ogbonnaya Onu, made the pledge while inaugurating some projects at the campus of the satellite agency along Nnamdi Azikiwe Airport Road in Abuja recently.…
Microsoft has hit the trillion-dollar value mark, becoming the third technology giant to reach the symbolic milestone. Shares in Microsoft rallied some five per cent to $130.59 in early Wall Street trade after a robust earnings report recently. That gave Microsoft a market capitalization of just over $1 trillion, before dipping back slightly. At its…
At the end of March 2019, the African Development Bank’s active portfolio in Nigeria rose to 60 operations with total commitments of $4.5bn. The bank said these comprised 28 public sector operations with total commitments of $1.7bn (21 national and seven regional); 34 non-sovereign operations with total commitments of $2.8bn. In a statement, the bank…