BUSINESS

FIRS shuts Imo Transport Company over N42.1m debt

Daily Dispatch March 1, 2017

The Federal Inland Revenue Service on Tuesday shut the Imo Transport Company Limited in Owerri, the Imo State capital, over a N42 million tax debt incurred between 2008 and 2016. The sealing of the company was done by an FIRS enforcement team led by Ruth Mandeun. The team leader told the ITC

BUSINESS

Why cash-less policy is delayed nationwide, by CBN

Daily Dispatch March 1, 2017

The Central Bank of Nigeria (CBN) has attributed the delay in implementing the cash-less policy initiative nationwide to the need for proper preparation. Besides, it wants to tap from the experience gained from the pilot states. Speaking on the sidelines of the Electronic Payment Incentive Scheme (EPIS) 2016 awards in Lagos at the weekend, the […]

BUSINESS

FG Plans To Invest $10bn Yearly Into Oil and Gas

Daily Dispatch March 1, 2017

The Federal Government plans to attract $10 billion investment  into the oil and gas industry yearly to bridge infrastructure gap. The Minister of State, Petroleum Resources, Dr Ibe Kachikwu stated this yesterday at the ongoing Nigeria Oil and Gas conference in Abuja while presenting his paper titled: Reforming and Repositioning the oil and Gas Industry […]

BUSINESS

Dangote exports 400,000 metric tons cement

Daily Dispatch March 1, 2017

Following continuous increase in its production capacity, foremost cement manufacturer, Dangote cement Plc has finally ended the era of Nigeria’s dependence on importation as the company exported 0.4 million tons of the product to other countries in 2016. In its 2016 full year audited results presented on the floor of the Nigerian Stock Exchange (NSE) […]

BUSINESS

Dangote Tomato Signs MoU With Farmers In Gombe, Sokoto

Daily Dispatch February 28, 2017

The Dangote Tomato Processing Company, Kadawa, Kano state has concluded arrangement to purchase fresh tomatoes from farmers in Gombe and Sokoto States. The company had already signed an agreement with Tomato Growers Association for the procurement of the commodity from the two states. The Managing Director of the company, Alhaji Abdulkarim Kaita disclosed this in […]

BUSINESS

Nigeria’s GDP Growth Rate Contracted By -1.3% in Fourth Quarter of 2016

Daily Dispatch February 28, 2017

The National Bureau of Statistics on Tuesday released the Gross Domestic Product growth rate for the country with the economy recording a contraction of -1.3 per cent in growth rate in the fourth quarter of 2016. The NBS in the report explained that in real terms, the economy recorded a decline of N240.8bn from N18.53trn […]