BUSINESS

BoI seeks N1trn to finance economic recovery plan

Daily Dispatch May 14, 2017

The Bank of Industry is seeking to raise about N1tn from local and international sources to finance the industrial component of the Economic Recovery and Growth Plan. The Acting Managing Director, BoI, Mr. Waheed Olagunju, stated this in Abuja at the 57th Annual General Meeting of the bank. The

BUSINESS

Reps directs NNPC to disclose cost of imported petrol

Daily Dispatch May 13, 2017

The House of Representatives Ad hoc Committee on Review of Pump Price of Petrol has directed the Nigerian National Petroleum Corporation NNPC and its subsidiaries to make public the true cost of imported petrol. The Chairman of the Committee, Rep. Raphael Igbokwe, gave the directive in an interview with the News Agency of Nigeria (NAN) […]

BUSINESS

Italian Oil Company, Eni to build crude oil refinery in Nigeria

Daily Dispatch May 11, 2017

Nigeria’s minister of state for petroleum, Dr Ibe Kachikwu has disclosed that Italian oil company Eni plans to build a crude refinery in Nigeria. Kachikwu made the disclosure while speaking to journalists on Tuesday. According to Reuters, Nigeria has been seeking investment in the sector to reduce reliance on imported oil products that consume a large […]

BUSINESS

FG releases N30 Bln for development of solid minerals sector

Daily Dispatch May 10, 2017

The Federal Government has released N30 billion for the development of the solid minerals sector, a top official of the Solid Minerals Development Fund has announced. Hajiya Hadiza Goni, Acting Secretary of the fund, made the announcement on Wednesday in Sokoto. She made the disclosure in an interview with the News Agency of Nigeria (NAN) […]

BUSINESS

World Bank permanently suspends six Nigerian firms, 12 others

Daily Dispatch May 10, 2017

Investigation has shown that the World Bank has permanently barred six Nigerian firms from transacting businesses and engaging in procurement activities with the global financial institution in the country. The organisations were accused of contradicting World Bank procurement and consultant guidelines during the Bank’s procurement for projects and programs. According to

BUSINESS

Tweeting from the field: how farmers are using social media

Daily Dispatch May 10, 2017

Piglets are nibbling on his shoelaces, but Marcus Holtkoetter only has eyes for his tablet: he’s engaged in a fierce Twitter debate about the herbicide glyphosate. More than 1,400 people follow him on the social media service, and he recently sent his 10,000th tweet. Farmers from all over the world have joined Twitter and other […]