Benue moves to generate own electricity

As part of its industrialization policy, the Benue state government said it has commenced the process to generate 10 megawatts of electricity for the state.

Governor Samuel Ortom, who disclosed this in Makurdi last week, said he had met with the Acting Chairman of Nigeria Electricity Regulatory [...]

Sat, 15 October 2016

Nigeria targets 7mil tonnes rice production annually

The Federal Government has said it is working at improving staple rice production to seven million tons from the year 2017, with the new technology of rice production developed by Japan International Corporation Agency, JICA.
Speaking at a meeting with a delegation from JICA, the Minister of Agr [...]

Sat, 03 September 2016

NEMSA, SON declares war against fake electrical materials

Furtherance to the campaign against the use of substandard materials in electrical installations, the Nigerian Electricity Management Services Agency, NEMSA, recently setup an Intra-agency committee to tackle the influx of fake electrical materials and equipment into the country.
The latest coll [...]

Sat, 03 September 2016

Nigeria’s GDP dips by -2.06% in Q2

The National Bureau of Statistics, NBS, has reported that the country’s Gross Domestic Product declines by -2.06 percent (year-on-year) in the second quarter of 2016.
Nigeria’s GDP growth rate was said to have slid further from -0.36 percent in the first quarter to -2.06 percent, eve [...]

Sat, 03 September 2016

Recession: Minister disown twitter comment, video contradicts her

The Minister of Finance, Mrs. Kemi Adeosun, has denied comments on a social media platform where she reportedly insinuated that the current economic recession being experienced was “just a word.”
Adeosun came under fire from Nigerians on social media for the comment via a twitter han [...]

Sat, 03 September 2016

CBN amends foreign exchange manual to boost portfolio investment

The Central Bank of Nigeria, CBN, has made some adjustments to the Memorandum of the Foreign Exchange Manual to allow residents and non-resident Nigerians take part in portfolio investment in the country.
With the amendment of Memorandum 21 of the Foreign Exchange Manual, resident Nigerian natio [...]

Sat, 03 September 2016

Licensing of IMTOs still ongoing - CBN

The Central Bank of Nigeria, CBN, has said it has not stopped the licensing of the International Money Transfer Operators, IMTOs, as speculated in some quarters, insisting the bank will issue license to interested and qualified remittance operators.
The Acting Director, Corporate Communications, [...]

Tue, 16 August 2016

Recruitment racketeering: FG reverse 368 employments

The federal government seems to be taking more seriously, the fight against employment racketeering in government institution, as hundreds of illegal appointments have been cancelled by the minister of communication.
The minister, Mr. Adebayo Shittu, recently announced the cancellation of 368 re [...]

Tue, 16 August 2016


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