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…
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 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.…
A mutilated banknote refers to a poor quality banknote that requires a special examination to determine its value. The note could be partially or permanently damaged by fire, water, dye, insects, rodents or destroyed by natural disasters. In a circular issued by the CBN, it said the initiative was in a bid to enhance the…
The Senate has declared that when passed into law, the Bill on Agriculture, Industry and Modernisation currently before the Senate would transform Nigeria. According to the Senate, the bill when passed into law, will give the required legal framework for mechanised farming in the country, particularly in the area of land to be used for…
Despite the ratification of the African Continental Free Trade Area (AfCFTA) Agreement by 22 countries, the delay by four countries in depositing their instruments, as well as other trade issues needed to be addressed before the deal becomes operational, may stall the implementation beyond the proposed date of July, 2019. The AfCFTA is expected to…
A multi-billion-dollar healthcare system in the United States, Montefiore Health System, has expressed readiness to help find a lasting solution to Nigeria’s healthcare problem. President of Montefiore, Prof. Phillip Ozuah, stated this when the Consul General of Nigeria in New York, Mr. Benayaogha Okoyen, visited the hospital to have a firsthand assessment of the facilities.…
The Board of the African Development Bank has approved a $15m investment package for Infrastructure Credit Guarantee Company, to support infrastructure financing through the domestic debt capital markets in Nigeria. The investment package to InfraCredit comprised a subordinated loan of $10m and a risk sharing facility of up to $5m. AfDB stated that the intervention…