BUSINESS

Electricity remains a huge problem, says President Buhari

Daily Dispatch October 1, 2017

President Muhammadu Buhari says power remains a huge problem to the country despite the fact that energy production has reached an all time high of 7,001 Megawatts as of Sept 12. President Buhari stated this in his broadcast to mark Nigeria’s 57th independence anniversary on Sunday in Abuja.

BUSINESS

Excess Crude Account stands at $2.309billion as at September- Ahmed Idris

Daily Dispatch September 29, 2017

The federal government on Thursday said that the Excess Crude Account stood at 2.309 billion dollars as at Sept. 27, 2017. Mr Ahmed Idris, Accountant-General of the Federation, stated this at the end of the monthly Federal Accounts Allocation Committee (FAAC) meeting on Thursday in Abuja. Idris stated that the balance in the Excess Crude […]

BUSINESS

Federal Allocation: FG, States, LG shares N637.704 billion in August

Daily Dispatch September 28, 2017

A total of N637.704 billion has been distributed as federal allocation among the Federal Government, State Governments and Local Government Councils for the month of August. A total of N467.852 billion was shared in July. A communiqué issued by the sub-Committee of Federation Accounts Allocation Committee (FAAC) of the Office of the Accountant-General of the […]

BUSINESS

Foreign debt payment to gulp $11.62bn in 10 years – DMO

Daily Dispatch September 28, 2017

Nigeria may have to grapple with the payment of $11.62bn in foreign debt in the next 10 years, a projection of the Debt Management Office has shown. The debt service payment over the 10-year period, 2017 to 2026, includes some principals that will fall due for redemption as well as interests that would have accumulated […]

BUSINESS

Coca-Cola to invest $600m to boost sales

Daily Dispatch September 28, 2017

Coca-Cola Company’s Nigerian operation will invest $600m by 2020 to boost sales, in line with a global strategy to extend the product range beyond its soft drinks. The unit of the Atlanta-based beverage maker plans to expand its offering of drinks to include flavoured and condensed milk, iced tea and bottled water to meet demand […]

BUSINESS

Why foreign investors are shunning Nigeria – Dangote

Daily Dispatch September 27, 2017

Africa’s richest man, Aliko Dangote, has said many foreign investors in the agro-business sub-sector are shunning Nigeria because of the insecurity situation in the country, particularly the rising cases of kidnapping. He made this known while speaking on ‘Challenges Facing Agribusiness Investors in Nigeria.’ at the ongoing Agric Expo and Conference, organised by Nigeria