BUSINESS

Shell invest $25billion in Nigeria, other countries

Daily Dispatch May 4, 2017

Oil giant, Royal Dutch Shell, has announced plans to invest about 25 billion dollars this year in Nigeria and all its oil and gas operation across the world. Shell made the announcement in its first quarter 2017 financial results released on Thursday. The report revealed that Shell netted an

BUSINESS

Nigeria imports N567bn worth of petrol in first quarter of 2016-NBS

Daily Dispatch May 4, 2017

The National Bureau of Statistics (NBS) said Nigeria imported 4.05 billion litres of Premium Motor Sprit (PMS) popularly known as petrol valued at N566.96 billion in first quarter of 2017. The NBS gave the figure in “Petroleum Products Import Statistics for Ist quarter 2017’’ released by the bureau on Thursday in Abuja. The bureau stated […]

BUSINESS

Nigeria to export $100bn pigeon pea to India

Daily Dispatch May 4, 2017

The National Agricultural Quarantine Service says Nigeria has secured an offer from the Indian government to export pigeon pea worth $100bn to the country. The Coordinating Director, NAQS, Mr Vincent Isegbe, on Thursday, said that the country would generate appreciable revenue from pigeon pea exports to India when the scheme was successfully executed. He said […]

BUSINESS

Customs has lost revenues more than oil industry-Senator Uzodima

Daily Dispatch May 4, 2017

Senate Committee Chairman on Customs and Excise duties, Hope Uzodinma, Thursday informed the Senate that its investigation has discovered revenue loss of over N30 trillion in the last eleven years. Speaking through order 42 and 53, he explained that the Committee which was set up to examine operations of Customs to identify revenue leakages was […]

BUSINESS

Nigeria’s foreign debt stands at $11b in 2016 – NBS

Daily Dispatch May 4, 2017

The National Bureau of Statistics said Nigeria’s foreign debt stood at $11.41 billion, while its domestic debts was N14.02 trillion in 2016. The NBS stated in the “Nigerian Domestic and Foreign Debt – 2016” data posted on its website on Wednesday in Abuja, that the sum reflected the states’ and Federal debt stock. The report […]

BUSINESS

FIRS Seals Bolingo Hotel, Abuja

Daily Dispatch May 4, 2017

The Federal Inland Revenue Service has sealed Bolingo Hotel in Abuja over property variation of about N320 million and non-remittance of Value Added Tax of N20 million. A reliable source disclosed this to the News Agency of Nigeria on Wednesday in Abuja. The source said: “It is FIRS that sealed the hotel. “I learnt that […]