Investment
Nigerian government to inject into market 10 million cooking gas cylinders in a year
The Federal Government will inject five to 10 million Liquefied Petroleum Gas (LPG) gas cylinders into the market in the next one year, according to Mr Dayo Adeshina, Programme Manager, National LPG Expansion Implementation Plan.
Sony invests another $200 million in Epic Games
Sony has just invested another $200 million in Epic Games as part of a $1 billion funding round, Epic announced today. Over a dozen investors contributed toward the funding round, which valued the Fortnite developer at $28.7 billion. That’s over $10 billion more than Epic Games’ estimated value at the time of Sony’s major investment last July.
Bitcoin hits record high above $62,000
Bitcoin hit a record high, soaring past $62,000 on Tuesday as the cryptocurrency exchange Coinbase prepares to launch shares on Wall Street.
Minister: Rail transportation awakening giant to help run government
Mr Rotimi Amaechi, Minister of Transportation, on Tuesday described the rail mode of transportation as the awakening giant that would run government.
NIPC: Lagos is seventh fastest growing city globally
The Nigerian Investment Promotion Commission (NIPC) says Lagos state is the seventh fastest-growing city in the world, with the highest Gross Domestic Product (GDP) and Internally Generated Revenue (IGR) in Nigeria.
Analysts: Printing currency could hurt economy
Analysts have expressed concerns over a recent claim that the federal government resorted to printing money to augment the monthly allocation to the three tiers of government, warning that it could heighten inflationary pressure with dire consequences for the country’s exchange rate and economy.
Minister urges collaboration between National Assembly, finance ministry to strengthen public investment
The task of strengthening public investment will come easy with commitment, loyalty and collaborations between the National Assembly and the Ministry of Finance, Budget and National Planning.
Ecuador shuns socialism with Lasso’s surprise election
Ecuadorean banker Guillermo Lasso unexpectedly won the nation’s presidency on promises to revive an economy battered by coronavirus as his rival’s vows of a return to socialist largesse failed to win over a skeptical electorate.
IMF urges governments to prioritize health care spending
The International Monetary Fund (IMF) has said while the pandemic continues, governments’ policies should first focus on escaping the crisis, prioritizing health care spending, providing well-targeted fiscal support, and maintaining accommodative monetary policy while monitoring financial stability risks.
Firm offers solution to gridlock, port congestion
A Nigerian firm, the Mercury Maritime Concession Company (MMCC), has proffered a solution to the congestion at the nation’s seaports and related traffic gridlock in Lagos.
Uganda, Tanzania, oil firms sign accords to build $3.5 billion pipeline
Uganda, Tanzania and oil firms Total and CNOOC on Sunday signed agreements that will kickstart the construction of a $3.5 billion crude pipeline to help ship crude from fields in western Uganda to international markets
China, Russia undermine international Myanmar response – EU’s top diplomat
The European Union’s top diplomat said on Sunday Russia and China were hampering a united international response to Myanmar’s military coup and that the EU could offer more economic incentives if democracy returns to the country.
Delta governor seeks policies to improve food nutrition in South-South
Chairman of South-South Governors’ Forum and governor of Delta State, Dr. Ifeanyi Okowa, has advocated the need for the relevant organs to come up with policies to improve food nutrition in the entire region.
Ekiti government expresses commitment to promoting peaceful coexistence in the state
The Ekiti State Government has said it is committed to creating an enabling environment for intervention of donor agencies towards improving the well-being of the people of the state.
Africa seeks $25 billion for climate adaptation, green recovery
African nations aim to double funding for climate change adaptation projects to $25 billion over five years as they look to foster a green recovery from the economic damage wrought by the coronavirus pandemic.
SEC warns of unregistered online platforms
The Securities and Exchange Commission on Thursday warned the investing public to tread with caution as there are several unregistered online investment and trading platforms facilitating access to trading in securities listed in foreign markets.
Minister: Nigerian government determined to lift country out of poverty, unemployment
The Federal Government says it is determined to do all it entails to lift the country out of poverty and unemployment.
Kaduna governor: Bandits have lost rights to life, must be wiped out
Gov. Nasir El-rufai of Kaduna State says bandits terrorising Nigeria have lost their rights to life under the constitution and must be wiped out.
Canadian banks shrink workforce to cover big tech investments
Canada’s top banks are shedding workers for the second straight year, moving toward leaner operations to satisfy investors demanding returns on tens of billions of dollars that lenders have poured into new technologies
IMF urges sub-Saharan Africa to increase tax revenues, others
The International Monetary Fund (IMF) has urged countries in Sub-Saharan Africa to do more domestically to increase tax revenues and improve the quality of spending.
IMF, World Bank advocate flexible fiscal support, debt relief
Against the backdrop of a pandemic impacted global and national economies, the International Monetary Fund (IMF) and World Bank have urged fiscal authorities to execute flexible and supportive fiscal policies to support economic recovery and cushion the long-term impact of the pandemic.
National Sports Festival will rebirth Edo’s sporting heritage – deputy governor
Edo State deputy governor, Comrade Philip Shaibu, says the ongoing 20th National Sports Festival tagged ‘Edo 2020 Games’ is essentially an opportunity to relaunch the state’s rich sporting heritage.
Recent Stories
Nigeria’s senate president, others bag NIS fellowship award
Senate President, Ahmed Lawan, and the governor of Lagos State, Babajide Sanwo-Olu, were on Wednesday in Abuja presented with the Honourary Fellowship Award of the Nigerian Institution of Surveyors (NIS) alongside a former Minister of Defence, Brig-General Mansur Dan-Ali (rtd) and the Emir of Nasarawa, HRH Alh. Ibrahim Usman Jibril, at the institution’s 2021 investiture ceremony.
Official: TETFund spends N120 billion on academic staff training since 2008
Academic Staff from public institutions across the country have so far accessed over N120 billion for training, within and outside Nigeria, from the Tertiary Education Trust Fund (TETFund) since its inception in 2008.
Payroll fraud: Gombe approves N1.49 billion for biometric system installation
The Gombe State Government has approved the sum of N1.499 billion for the supply and installation of biometric attendance system to check payroll fraud in the state’s civil service.
2023: APC disowns viral zoning arrangement
The national caretaker/extraordinary convention planning committee (CECPC) of the ruling All Progressives Congress (APC) has disowned a zoning arrangement list in circulation on the social media.
UEFA confirms Rome as Euro 2020 host city
Rome’s Stadio Olimpico has been “fully confirmed” as a venue for Euro 2020 matches after the Italian government guaranteed the presence of at least 25 per cent of fans, UEFA announced on Wednesday.
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PFN: We’re ready to support law enforcement agencies
The Pentecostal Fellowship of Nigeria has expressed readiness to collaborate with the police and other security agencies in the land in a bid to address the growing insecurity.
Snow in Windsor as Queen Elizabeth ponders ‘huge void’ after death of Prince Philip
A spring snow storm struck Windsor Castle on Monday where Queen Elizabeth pondered the huge void left by the death of Prince Philip, her husband of 73 years.
Joe Biden set to withdraw U.S. troops from Afghanistan by Sept. 11
President Joe Biden plans to withdraw the remaining 2,500 U.S. troops from Afghanistan by Sept. 11, 2021, 20 years to the day after the al Qaeda attacks that triggered America’s longest war, U.S. officials said on Tuesday.
Legislative workers meet National Assembly management, shelve strike
The National Assembly management and staff of the federal parliament finally resolved their grievances on Tuesday.
Imo jailbreak: NCS releases names, photos of escaped inmates
The Nigerian Correctional Service has released the names and photos of some of the inmates who escaped from the Owerri Custodial Centre in Imo State on April 5.