OTHER BUSINESSES

Minister of Power, Works and Housing, Mr. Babatunde Fashola explained on Wednesday in Abuja that lack of finance to pay for the supply of gas to power stations was responsible for the drastic drop in the electricity supply currently experienced across the country. Fashola disclosed this when briefing the media...

Internet users decline by 536,346 subscribers in December The Nigerian Communications Commission (NCC) has said that the country recorded increase in teledensity in 2016, ending the year with 110 per cent growth. Telephone density or teledensity means the number of telephone connections for every hundred individuals living within an area....

General Electric Co has proposed investing in Nigeria's oil refineries, potentially convening a consortium of companies to improve capacity at the run-down facilities. GE's plan and similar promises from companies like Italy's Eni (ENI.MI) to work with Nigeria to rehabilitate the country's three oil refineries could help the government as...

By Abdul Olalekan The 58 insurance and reinsurance companies in the country will have their capital base verified by the National Insurance Commission (NAICOM) in a move that will lead to commencement of Risk Based Supervision (RBS) and recapitalisation, Business 247 News Online has learnt. This exercise is coming up,...

An investigation into the cause of faulty batteries that led Samsung to pull all of its Galaxy Note 7 smartphones last year found that some batteries were irregularly sized, causing overheating, while others had manufacturing problems, according to people familiar with the matter. The conclusion, which will be unveiled by...

By Abdul Olalekan The Ogun State Government has paid a sum of N1.5 billion to 546 retirees in the state in fulfilment of it promises to offset arrears of gratuity due to retired civil servants in the state. The state Head of Service, Mr. Abayomi Sobande, while presenting cheques to...

By Abdul Olalekan Insurance industry in the country is witnessing a new innovation, as ATB Techsoft Solutions Limited, an ICT firm, has launched Ultisure, software for insurance policy administration. The technology is one of the local softwares specifically designed for insurance companies in the country. Speaking during the unveiling of...

By Abdul Olalekan The National Pension Commission (PenCom) has recovered about N11 billion between 2013 and now, from employers who refused to remit the pension contributions of their workers. The commission equally applauded the recovery agents for the feat in recovering this money, adding that the commission learnt that several...

Nigeria has ratified the Trade Facilitation Agreement (TFA), which making her the 107th World Trade Organisation (WTO) member to endorse the agreement. The information is contained in a statement by Constance Ikokwu, the Strategic Communications Adviser to the Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah. The minister submitted...

The Managing Director of Lotgrand , operator of Grandlotto Yellow Terminal brand, Mr. Niyi Adekunle, said that foreign operators in lottery business in Nigeria spend an average of N25 billion annually to acquire, deploy and maintain lottery technologies. Adekunle, whose company has revolutionised the lotto business in Nigeria with the...