UTILITY Only stronger monetisation of gas at home could justify using Africa’s gas reserves In its latest Africa Energy Outlook 2021, the African Energy Chamber forecasts increased gas monetisation across the continent on the back of decarbonisation and industrialisation drive. The African Energy Chamber has notably found that while not insulated to COVID-19, […]
Air France and KLM have concluded plans to resume flight into the country more than eight months after they suspended flights to Nigeria occasioned by the COVID-19 pandemic and nearly three months after the Nigerian government barred the two mega carrier from the country following the activation of reciprocity policy. The carriers in a […]
Uber Technologies Inc and Lyft Inc have been awarded a federal contract worth up to $810 million to offer their ride-hail services to public agencies and their more than 4 million employees and contractors across the country. The General Services Administration (GSA), which manages services for federal agencies, issued its final five-year award on […]
Data obtained from the National Pension Commission (PenCom) has revealed that Pension Fund Administrators (PFAs) and their counterparts Pension Fund Custodians (PFCs) recorded a net profit of about N83.94 billion in 2019. A breakdown showed that Stanbic IBTC Pension Managers Limited recorded N49.42 billion followed by Zenith Pension Custodian Limited had N6.03 billion. Further […]
The Commissioner for Insurance and Chief Executive, National Insurance Commission (NAICOM), Mr. Sunday Thomas, has said that Micro, Small and Medium Enterprises (MSMEs) were essential for economic growth and employment. He made the declaration in Kano during the sensitization programme by the commission and Star Saphire for start-ups on a proposed micro insurance and […]
Linkage Assurance Plc said it had met the N5 billion minimum capital requirements as mandated in the segmented recapitalisation exercise of the National Insurance Commission (NAICOM). Addressing the insurance journalists during a training programme in Lagos, the Managing Director of the Company, Mr. Daniel Braie, who was represented by the firm’s Chief Financial Officer (CFO), […]
After losing N2 trillion goods at the closed land borders, the Office of the National Security Adviser (ONSA), which is coordinating the border closure exercise, has approved the release of goods stuck at Seme Border. It was learnt that some of the goods, which are perishable, had decayed, having stayed for a long time […]
As part of its activities to mark Africa Industrialization Day 2020, the African Development Bank (AfDB) has urged the continent to accelerate industrialization for the transformation of African economies. “Industrialization, where we add value to what we competitively produce and then export, and also trade among ourselves on the back of the African Continental Free […]
The shift in consumer patterns in the light of the economic situation in the country and corresponding squeeze on disposal income is taking a toll on the earnings of International Breweries Plc. CHRIS UGWU writes As Nigeria suffers from volatility in crude prices and COVID-19 crisis, with government revenue declining and public sector […]
The battle to resolve the lingering N1.3 billion severance benefits of ex-workers of Nigerian Aviation Handling Company Plc (NAHCo) may shift to the law court as lawyer to the embattled workers has given the Bureau of Public Enterprises (BPE) and NAHCo two weeks to come clean on the whereabouts of the money or be dragged […]