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Ebonyi earmarks N1.5bn for 26 schools

The Ebonyi State government yesterday approved the sum of N1.5 billion for the construction of 26 modern schools across the state. This is as the state government set up a committee to ensure the smooth construction of the school buildings. The state Commissioner for Information and State Orientation, Uchenna Orji stated this in Abakaliki while […]

Business

PayWithSpecta: Spearheading digital credit revolution in Nigeria

Given that COVID-19 is helping to accelerate digital transformation initiatives in most parts of the world, it means Sterling Bank’s digital credit solution – PayWithSpecta – is well positioned to extend its dominance of the industry, writes TONY CHUKWUNYEM In a report released in September last year, McKinsey (the worldwide management consulting firm) stated that […]

Business

CBN: Boosting non-oil sector’s contribution to GDP

As uncertainty continues to grow over the long term relevance of crude oil to the global economy, the Central Bank of Nigeria (CBN), through its intervention programmes, is sustaining its support for the country’s non-oil sector, writes TONY CHUKWUNYEM NBS GDP Q2 report In its “Nigerian Gross Domestic Product Report” for Q2’21 released last Thursday, […]

Business

Verve partners Chinese restaurant on discounts

Africa’s leading payment technology and card business, Verve, has announced its partnership with a foremost Chinese restaurant in Lagos, Xing Xing Restaurant, to reward Verve cardholders with a five per cent discount anytime they use their Verve card to pay for meals at the restaurant from now till December 31, 2021. According to a press […]

Business

Adesina: Strong democratic institutions key to economic growth

President of the African Development Bank Group (AfDB), Dr. Akinwumi Adesina, has called on African leaders to strengthen democratic institutions in their various countries to achieve economic transformation. Delivering the keynote address during a webinar at the weekend, Adesina stated that apart from helping to achieve economic transformation, strong democratic institutions will promote unity and […]

Business

Need for enabling environment for market growth

The capital market needs to be positioned to play more significant role in sustainable economic growth and stability. CHRIS UGWU writes All over the world, infrastructure contributes to economic development by increasing productivity and providing amenities, which enhance the quality of life. The services generated as a result of an adequate infrastructure base will translate […]

Business

Importers battle Chinese liners’ yoke

Importers with groupage containers are spending three months at the seaports before clearing their consignments because of extortion and unnecessary charges introduced by Chinese liners and their agencies, BAYO AKOMOLAFE reports Importers using Nigerian major ports are facing another long-running crisis from Chinese shipping lines and their agents who impose double charges on groupage containers’ […]

Business

NPA mandates barge operators to pay tariff under new regulations

The Nigerian Ports Authority (NPA) has said that barge operators will be paying tariff under its new regulatory framework from September 1, 2021. It was learnt that they had operated for close to three years without paying any tariff to the Authority. The regulatory framework was established for the operation of barges across the nation’s […]

Business

Nigeria imports N34.7bn frozen fish from Japan

Nigeria has imported a total of N34.7 billion ($69.39 million) Mackerel fish from Japan between 2019 and June 2021 despite tight import restriction by the Federal Government. Frozen Mackerel exports were fairly steady in the first half of the year as Nigerian importers abandoned Norway and shifted to Japan’s Mackerel species, which is far cheaper. […]

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Business

Top dealing firms transact N581bn shares in 7 months

Ten top dealing firms in the Nigerian capital market ended the first seven months of the year 2021 (January-July) with an exchange of 42.865 billion shares worth N581.269 billion. Statistics obtained by New Telegraph showed that the 10 stockbrokers were responsible for 51.50 per cent of the total value between 04/01/2021 and 31/07/2021. Also, the […]

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