Wednesday, June 03, 2020
Lagos delivers 1576 homes in 12months, seeks partnership with private investors
Working with the understanding that housing is the bedrock of economic development and social stability, the Lagos State government, in the past 12 months, completed and delivered 1,576 new homes in its various housing schemes across the state. The completion of these housing schemes is one of the strong footprints of the administration of Governor Babajide Sanwo-Olu who marked his first one year in office a couple of days ago. Read more
AfDB: Adesina gets Nigeria’s support for reelection bid
President Muhammadu Buhari says Nigeria will stand solidly behind Akinwunmi Adesina in his bid to get re-elected as president of the African Development Bank (AfDB). Adesina was on a courtesy visit to the president at the State House, Abuja, on Tuesday. According to a statement by Femi Adesina, special adviser to the president on media… Read more
Revised budget: FG gives National Assembly N27bn for renovation, cuts health, UBE votes
The Federal Government has reduced the N37bn budget for the renovation of the National Assembly complex to N27.7bn. The Federal Government, in the 2020 revised budget proposal, according to documents obtained by our correspondent on Tuesday, cut N9.3bn from the budget for the renovation of the National Assembly complex. Read more
Foreign reserves gained $2.7bn in one month –CBN
The nation’s foreign reserves rose by $2.7bn in May after declining for several months, figures from the Central Bank of Nigeria showed on Tuesday. According to the CBN, the foreign reserves, which stood at $33.52bn as of April 30, 2020, rose to $36.59bn as of May 29, 2020. Read more
Finance director died of COVID-19 –NDDC
The Management of the Niger Delta Development Commission has said its late Executive Director, Finance and Administration, Ibanga Etang, died of COVID-19. Etang passed away in the early hours of Thursday, May 28, 2020. Read more
Marketers identify challenges in FG’s petrol price review
Again promises given by the Federal Government to properly consult marketers of Premium Motor Spirit (PMS) otherwise called petrol before arriving at the monthly price review of the product, some marketers yesterday told The Guardian that the government only consulted with them once since the new price regime started in March this year. Read more
Importers, agents decry customs’ server failure at Tin-Can Port
Operations of importers and clearing agents at the Tin-Can Island `Port, in Lagos, are being frustrated following the collapse of the Nigeria Customs Integration System (NICIS2) server in the past fortnight. The server failure, which has crippled business activities at the Port, has led to high demurrage and storage charges for importers, as documentation for Customs clearance by clearing agents have become tedious. Read more
Why states should collaborate on food production, by LCCI
To promote sustainable development, job creation and address hunger, Lagos Chamber of Commerce and Industry (LCCI) has emphasised the need for States to find mutual areas of collaboration in the agribusiness value-chain. Read more
FMDQ Admits Flour Mills of Nigeria’s N30 Billion Commercial Paper
FMDQ Securities Exchange Limited has approved the quotation of the Flour Mills of Nigeria Plc N10.00 billion Series 13 and N20.00 billion Series 14 Commercial Paper (CP) notes under its N100 billion CP Issuance Programme on the exchange. Read more
FBN Holdings Divests from Insurance Subsidiary, Sells Firm to Sanlam
FBN Holdings Plc has divested its 65 per cent equity in FBN Insurance Limited to Salam (PTY) Limited, which used to hold 35 per cent stake in the insurance firm. The financial conglomerate had in April announced its plan to divest, saying it is in line with FBN Holdings’ “strategic objectives.” Read more
The Institute of Chartered Accountants of Nigeria (ICAN) has elected new officers to run its affairs for the next one yea, with Mrs. Onome Joy Adewuyi, emerging as the 56th President. Her investiture took place at the institute’s secretariat in Lagos, after an election yesterday. Read more
