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Farmers earn N1bn annually through sugar master plan – FG

The Federal Government, through the National Sugar Development Council, has announced that the out-grower scheme under the Nigeria Sugar Master Plan pays approximately N1 billion annually to around 535 farmers across the country. This was disclosed in a report detailing the achievements of the Nigerian Sugar Industry, compiled by the NSDC, according to The Punch. […]

News

Operators peg untitled lands revenue loss to N36tn annually

Operators in the built environment estimate that Nigeria loses approximately N36 trillion annually due to untitled lands. The cost of land registration varies by location, with operators averaging the registration fee for a plot of land at about N1 million, depending on the state and local government, according to The Punch. This figure was used […]

News

Dangote invests $280m in CNG conversion tech, infrastructures

The Dangote Group has announced an investment exceeding $280 million in Compressed Natural Gas technology and infrastructure. This move underscores the company’s commitment to supporting President Bola Tinubu’s CNG initiative and its leadership in the sector. The investment aims to mitigate climate change and facilitate Nigeria’s transition to a low-carbon economy, aligning with Tinubu’s strategy […]

featured

FG to phase out wooden boats

The Federal Government, through the National Inland Waterways Authority is planning to phase out wooden boats on inland waterways. This was disclosed by NIWA Managing Director, Bola Oyebamiji, during a recent meeting with editors in Lagos, noting this initiative, aims to improve safety and efficiency in Nigeria’s inland water transportation, according to The Punch. In […]

News

Over 100 Airlines shut down operations in 40 years — Keyamo 

The Minister of Aviation and Aerospace Development, Festus Keyamo, has disclosed that the aviation industry has a high mortality rate, leading to the closure of over 100 airlines in the past 40 years. Keyamo made this disclosure during the 10th-anniversary celebration of Air Peace, West Africa’s largest airline and Nigeria’s flag carrier, in Lagos on […]

News

Black box, flight recorders of crashed helicopter not found – NSIB

The Nigerian Safety Investigation Bureau reports that the black box, flight data recorder, and cockpit voice recorder from a crashed helicopter have yet to be recovered. The Sikorsky SK76 helicopter, operated by East Wind Aviation and contracted by the Nigerian National Petroleum Company Limited, nosedived in Rivers State on October 24. Recovery of these devices […]

featured

CBN optimistic of securing $12bn in diaspora remittances

The Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, announced in Washington DC that the CBN is optimistic about attracting $1 billion in monthly remittances. This confidence follows the resolution of concerns raised by International Money Transfer Operators and positive feedback from Nigerians in the Diaspora. Cardoso made this disclosure during a joint […]

Apple signals major AI spending shift, open to big acquisitions
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Apple to launch new M4 Mac laptop models

Apple is gearing up for a “week of announcements” starting Monday, October 28, with expectations that new Macs will be among the highlights. Apple’s senior vice president of worldwide marketing, Greg Joswiak, hinted at the upcoming reveals in a post on X, encouraging fans to “Mac (?) your calendars!” “We have an exciting week of […]

Alibaba to raise HK$12bn in exchangeable bonds
News

Alibaba agrees to $433.5m settlement in US monopolistic lawsuit

Alibaba has agreed to pay $433.5 million to settle a U.S. class-action lawsuit alleging monopolistic practices, although the company denies any wrongdoing. It said the decision to settle aims to avoid the costs and disruptions associated with ongoing litigation, according to Reuters. The proposed settlement, which requires approval from U.S. District Judge George Daniels, addresses […]

featured

Nigeria’s electricity shortages result in $26bn annual economic losses – Report

Nigeria’s ongoing power issues are estimated to cost the economy $26 billion annually, according to the Africa Trade Barometer. The report also indicated that businesses in Nigeria spend approximately $22 billion annually on off-grid fuel to mitigate the effects of unreliable electricity, significantly increasing operational costs. It read “In Nigeria, surveyed businesses must contend with […]

National assembly proposes CBN capital base increase to N1trn
News

FG proposes 50% tax relief to help firms increase salaries

The Federal Government is introducing a new legislative bill aimed at reforming Nigeria’s tax system, which includes a 50 per cent tax relief for companies that raise salaries or offer transportation allowances to low-income workers. This initiative seeks to encourage businesses to invest in their employees, improve living standards, and foster economic growth. The proposed […]

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