BUSINESS

Dangote Refinery: Hyundai wins $58m contract to construct LPG tanks

Daily Dispatch February 23, 2018

Hyundai Heavy Industries Co., one of the world’s largest shipbuilders and industrial equipment manufacturers, said yesterday that it has received a $58 million order to build 15 bullet tanks for storing liquefied petroleum gas (LPG) for Dangote Oil Refining Company, Africa’s largest refinery,

BUSINESS

Nigeria’s oil sector needs $100bn investments, says Kachikwu

Daily Dispatch February 22, 2018

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, on Thursday said the oil sector needed huge investments to the tune of 100 billion dollars.Kachikwu said this while reeling off the urgent needs of the sector at the closing ceremony of the just-concluded maiden Nigeria International Petroleum Summit (NIPS) in Abuja. “We need to […]

BUSINESS

Dangote to build sugar plants in 6 states

Daily Dispatch February 22, 2018

Nigeria’s Dangote Group has signed a deal to commence the building of integrated sugar plants in six states in Nigeria. The Chairman of the group, who is also Africa’s richest man, Alhaji Aliko Dangote, made the announcement at a forum in Lagos to honour major distributors of Dangote Foods in Lagos on Thursday. He said […]

BUSINESS

Nigeria bond auction raises N80 billion

Daily Dispatch February 22, 2018

Nigeria raised 79.62 billion naira ($260.20 million) at an auction of government bonds on Wednesday, less than it originally planned, after it got fewer subscriptions for the most liquid five-year debt, traders said on Thursday. The Debt Management Office (DMO) initially intended to raise 100 billion naira. It got subscriptions of 117.58 billion naira, more […]

BUSINESS

Hadiza Usman: Intels decides what to pay to federal govt from revenue

Daily Dispatch February 22, 2018

The managing director of the Nigerian Ports Authority, Hadiza Bala Usman, says Integrated Logistics Services Limited (Intels) decides what percentage of revenue generated at the ports to remit to the federal government. The MD made this known when she appeared before a house of representatives adhoc committee on Wednesday. Intels signed an agreement with NPA […]

BUSINESS

e-Tax system will reduce fraud in tax payment – Segun Agbaje

Daily Dispatch February 22, 2018

The Managing Director of Guaranty Trust Bank Plc (GTBank), Mr. Segun Agbaje, has said the introduction of electronic tax payment system will help reduce corruption in tax payment system, just as he urged other states to embrace the initiative. Agbaje made this remark during the inauguration of the e-tax payment campaign by the Lagos State […]