Business

Japan’s May real wages fall at quickest pace in nearly five years

    Japan’s May inflation-adjusted real wages dropped at the fastest pace in nearly five years, government data showed on Tuesday, in a sign of labour market stress as the economy takes a heavy blow from the novel coronavirus pandemic. The world’s third-largest economy is bracing for its worst postwar slump in the quarter through […]

Business

Nigeria’s $635m lube market threatened

Counterfeiting worsens producers’ woes BEWARE Manufacturers say they are vindicated by Standards Organisation of Nigeria (SON’s) alarm over imported fake engine oil     Nigeria’s over $653 million lube oil market projection is under a fresh threat as product counterfeiting reached an all-time high, worsening manufacturers’ woes. Manufacturers, who craved government intervention to save the […]

Business

Leadership, integrity tests

The outbreak of Coronavirus pandemic highlighted the feats recorded in the energy space and dragged the Nigerian National Petroleum Corporation (NNPC) to the spot light. Adeola Yusuf in this review shows how the industry and leadership at the corporation (NNPC) under Mele Kyari faired     The flag off of the biggest gas pipeline project […]

Business

Solving airport concession conundrum

It is a glaring fact that Nigerian airports are not just underdeveloped but also grossly underutilised. Concession has been mooted but the unions are up in arms with government as the way out of the imbroglio remains unclear. WOLE SHADARE writes     Cat and dog game The story of tenants not seeing eye to […]

Business

Real estate: COVID-19 disrupts projections

There was high expectation about real estate performance at the beginning of 2020 due to increased government budget for infrastructure and commitment to grow the real sector of the economy. Six months after, there was no clear growth in the industry due to Coronavirus pandemic. Dayo Ayeyemi reports   Before the heat generated by Coronavirus, […]

Business

COVID-19: PwC forecasts higher inflation rates for Nigeria

Prediction   Inflation hit 12.40% in May 2020   Citing what it describes as “demand and supply shocks” from the Coronavirus (Covid-19) pandemic, Pricewaterhouse Coopers(PwC) Nigeria has said that the country’s inflation rate is likely to continue its upward trend for some time to come   The firm made the prediction in its latest, “Nigeria […]

Business

Court jails two for assault on EKEDC staff

Two people, who assaulted a female staff of Eko Electricity Distribution Company (EKEDC), have been jailed.   A Magistrate court sitting in Agbara Ogun State presided over by B. O. Ilo on Tuesday June 30, 2020, sentenced Adetayo Adefila and Faith Ogunmade to three months imprisonment for assaulting the Field Representative of Eko Electricity Distribution […]

Business

NCDMB, firms sign $25m deals for refinery, lube plant projects

RALLY Board in talks with OEMs  to domesticate refinery  fabrication, assembly   The Nigerian Content Development Monitoring Board (NCDMB) has signed two equity investment agreements valued at $25 million for the construction of a lube blending plant in Bayelsa State, and an energy park in Edo state.   The energy park comprises, among others, the […]

Business

NSITF: Board reassures on fair hearing

  The board of Nigerian Social Insurance Trust Fund (NSITF) has reassured that it will provide an opportunity for the management of the agency to state its position on the current crisis at the fund.     This assurance came just as the premises of the organisation in Abuja was yesterday protected by officers and […]

Business

Nova Merchant Bank debut with N10bn bond

Nova Merchant Bank has announced that its ongoing N10 billion bond issuance is aimed at putting the business on a firm footing to achieve its short and long term goals.   According to a statement from the bank, the technology- driven financial institution is seeking to raise up to N10 billion 7-year Fixed Rate Subordinated […]