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Nigeria’s Capital Importation Portfolio Hits $40.4bn

Aviation contributes N48.8bn to GDP James Emejo Nigeria’s Capital Importation portfolio valued at about $40.4 billion between 2012 and February 2014, according to the National Bureau of Statistics (NBS). According to the data released Tuesday, portfolio investments in equity accounted for about $28.2 billion while revenue from bonds issuance stood at about $2.2 billion in … Continue reading

WEF Nigeria: Chinese PM leads 100 man strong delegation, 12 African leaders also coming

All is now set after two years of preparation, for the hosting, by Africa’s most populous nation and largest economy, of one of the most important events of the 21st century, the World Economic Forum (WEF) in Nigeria’s capital city, Abuja. Preparations are in top gear to receive world leaders led by Li Keqiang, prime … Continue reading

Due Process: Jonathan Approves Debarment of Fraudulent, Unregistered Contractors

Defaulters risk five-year jail term James Emejo President Goodluck Jonathan has approved the debarment of contractors, consultants and service providers who violate the public procurement laws. Attorney-General of the Federation (AGF) and Minister of Justice, Mr. Mohammed Adoke, announced the president’s approval yesterday in Abuja at the 2014 annual Contractors/Consultants and Service Providers Forum, organised … Continue reading

CPC Clamps down on Aero over Violation of Passenger Rights

Asks airline to submit written commitment to prevent recurrence Arik to face legal suit for negligence The Consumer Protection Council (CPC) yesterday announced that it had brought its regulatory powers to bear against Aero Contractors Airline, having found it culpable of gross disregard of the rights of passengers on its November 8, 2013 Abuja to … Continue reading

Alison-Madueke Defends Award of 60% of Oil Contracts to Local Firms

•Argentina to import Nigerian crude  •Minister, NNPC, others shun House query on private jet charter   By Muhammad Bello, Chineme Okafor in Abuja and Ejiofor Alike in Lagos with agency report Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has said the recent award of crude oil term contracts primarily to indigenous oil and gas companies … Continue reading

Jonathan to launch N960bn workers’ housing scheme Wednesday

ABUJA – PRESIDENT Goodluck Jonathan will on Wednesday perform the ground breaking ceremony for the N960 billion housing scheme that would be made affordable for Nigerian workers to reduce homelessness some of them face after a meritorious service to their father land. President of Nigeria Labour Congress (NLC), Comrade Abdulwahed Omar and the Managing Director … Continue reading

‘Nigeria has gotten a lot better,’ says South African agribusiness entrepreneur

Cassava, a woody shrub with an edible root that looks like a large sweet potato, is one of the most widely grown crops in Nigeria, produced largely by small-scale farmers. Although cassava roots can be processed into a variety of products – including cassava flour, starch, ethanol and glucose syrup – the crop has not … Continue reading

2nd Niger Bridge ‘ll be completed on schedule – FG

The Julius Berger-Nigeria Sovereign Investment Authority, NSIA, consortium, the contractors handling the 2nd Niger Bridge, has promised to complete the project on schedule. This position was contained in a statement signed by the Managing Directors of Julius Berger and the NSIA, Messrs Wolfgang Goetsch and Uche Orji, respectively, in Abuja, yesterday. The duo described as … Continue reading

Work didn’t stop on 2nd Niger Bridge –Obi – The Sun News

Immediate past Anambra State governor, Mr. Peter Obi has described as erroneous, reports in some newspapers that the Federal Government had stopped work at the sec­ond Niger Bridge. Speaking on the matter, when his comments were sought through the telephone, Obi said work did not stop nei­ther was the Federal Govern­ment contemplating stopping work at … Continue reading

Power Sector to Benefit from $8bn W’Bank Financing Window

The World Bank has finally approved a Country Partnership Strategy (CPS) for Nigeria which would increase its development assistance to the country for job creation, social service delivery and governance to about $2 billion per year through the International Development Association (IDA) and International Bank for Reconstruction and Development (IBRD) financing window. But the bulk … Continue reading