Wednesday, March 3, 2021
Nigeria Needs to Boost Food Reserves, Says Emefiele
The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday warned against Nigeria repeating the mistakes of the past by neglecting agriculture. He said the country should immediately start to build its own food reserves, as the experience from the COVID-19 pandemic and the associated lockdowns globally had demonstrated that countries only export out of their reserves. Read more
Nestle Nigeria to Pay Higher Dividend Despite Reduced Profit
Nestle Nigeria Plc has decided to dip its hands into its retained profit to pay shareholders higher dividend for the year ended December 31, 2020. The move is in order to maintain its robust dividend policy. Nestle Nigeria Plc is well known for rewarding shareholders with good dividend. Although the company’s profit fell 14 per cent from N45.683 billion to N39.212 billion, it has recommended a higher dividend payment ratio. Read more
Petrol scarcity persists, transport fares rise by 100%
Petrol scarcity in Abuja and neighbouring Nasarawa and Niger states persisted on Tuesday and provoked an over 100 per cent rise in transport fares in many locations of the affected areas. Also, hundreds of black marketers of petrol surfaced in various roads in Abuja and environs, as they sold the commodity at between N300 to N500 per litre. Read more
Three million Nigerians lost N18bn to Ponzi schemes – SEC
Over three million Nigerians have lost about N18bn through Ponzi schemes, the Securities and Exchange Commission stated on Tuesday. Director-General, SEC, Lamido Yuguda, said this during a webinar organised by the commission. Ponzi schemes are fraudulent investing scams which generate returns for early investors with money taken from later investors. Read more
OPEC cautions Nigeria, others over crude oil production
The Secretary-General of the Organisation of the Petroleum Exporting Countries has said OPEC and its allies need to remain disciplined with their production to ensure full oil price recovery as the global economy continues to rebound from the COVID-19 pandemic. “We must emphasise in strong terms: cautious optimism, cautious optimism, cautious optimism,” Barkindo said at a delegate-level OPEC+ technical committee meeting on Tuesday, two days ahead of when ministers will convene online to decide on production levels for April and perhaps beyond. Read more
Government disburses N1.13bn to 11,636 artisans, employees under survival scheme
The Federal Government has disbursed N1.13 billion to 11,636 individuals under the MSME survival fund/payroll support scheme in Akwa Ibom state. Specifically, each individual was paid between N30,000 to N50,000 each while 1,364 individuals are expected to benefit from the second phase of the exercise. Read more
Nigeria’s opportunities great despite challenges, says Amina Mohammed
It is gratifying to note that Nigeria has a huge population with great economic opportunities despite current challenges facing the nation, the Deputy Secretary-General of the United Nations, Amina Mohammed, has said. Mohammed disclosed this, yesterday, in a meeting at the headquarters of the Federal Ministry of Industry, Trade and Investment in Abuja. Read more
