OTHER BUSINESSES

  Targets mining contribution to GDP of 7% from 0.3% in a decade Nigeria is looking for investments of $7 billion in mining and steel in the next ten years as it seeks to develop gold and iron ore extraction industries to diversify its oil-dependent economy. According to Bloomberg report...

No fewer than 159,361 disengaged Nigerian workers were paid N49.55 billion pension entitlement after they were unable to secure a new job, four months after their disengagement. The aforementioned amount was paid to the beneficiaries since the inception of the Contributory Pension Scheme (CPS) till the end of the first...

Farmers and stakeholders in Plateau have predicted that farming season would experience poor harvest in 2016  compared to the same period last year. Some of the stakeholders said in Jos on Sunday that they anticipated poor harvest owing to farmers’ inability to access vital farm inputs. A lecturer with the...

The International Energy Agency (IEA) said at the weekend that it had cut its oil demand growth forecast for 2017 because of a weaker outlook for the world economy following Britain's vote to leave the European Union. Global oil demand growth is now expected to slow to 1.2 million barrels...

Pension experts have charged the federal and state governments to prioritise funding of their respective workers' Retirement Savings Accounts (RSAs), saying FG has been unable to remit pension contributions since October 2015, while state governments are defaulting in the payment of their workers pension contributions as well as salaries. The...

Shareholders of underwriting firms in the country have charged underwriters to adopt a successive plan in their respective companies, such that most directors don’t have to retire at the same time on the board. This development, they said, could negatively affect the fortune of the concerned insurers, stating that a...

The Cross River State Governor, Professor Ben Ayade, has stated that the proposed Calabar deep seaport would be completed on schedule by his administration. He made the promise when he hosted the Managing Director of the Nigerian Ports Authority (NPA), Hadiza Bala Usman, who paid him a courtesy call in...

Accounts for 86% of industry growth Globacom Nigeria dusted other telecoms operators in the country to attain the top position in the new internet subscribers’ category for the month of June. This is according to Nigerian Communications Commission (NCC) statistics released by the industry regulator for the month of June....

The Lagos State Government, through the Lagos State Pension Commission (LASPEC), has warned retirees to beware of pension fraudsters who pretend as acting on behalf of government to dupe unsuspecting retirees. The Director-General, LASPEC, Mrs. Folashade Onanuga, while advising retirees at the 29th Retirement Benefit Bond Presentation Ceremony which took...

The Nigeria Customs Service (NCS) is contemplating the replacement of obsolete scanners to reduce delay in cargo clearance at the seaports and land borders. Its Comptroller-General, retired Col. Hameed Ali, said that the fund for the procurement of new scanners had been captured in the 2016 budget. He noted that...