BUSINESS

NUTGTWN Picket Company Over Casualisation

Daily Dispatch February 2, 2017

Members of the National Union of Textile Garment and Tailoring Workers of Nigeria (NUTGTWN) have shut down the corporate head office of Royal Sacks Nigeria Limited, a manufacturer of sacks and bags, over alleged casualisation of workers. Daily Trust report that national officers of the union

BUSINESS

CBN sells $660 million Forwards to Clear Backlog of Dollar Demand – Traders

Daily Dispatch February 1, 2017

The Central Bank of Nigeria (CBN) has sold $660 million in three- and five- month currency forwards at an auction aimed at clearing a backlog of dollar demand, traders said on Wednesday. Last Wednesday, the central bank had asked commercial lenders to bid in a special currency auction targeted at clearing backlog of dollar obligations […]

BUSINESS

BREAKING: Nigeria Secures $1.5b Chinese Loan for Lagos-Ibadan Rail

Daily Dispatch February 1, 2017

  The proposed $1.5 billion (about N450 billion) counterpart funding from China for the Lagos-Ibadan rail project set to commence in March, has been secured by the Federal Government. The Minister for Transportation, Rotimi Amaechi, made the disclosure on Wednesday when he appeared before the Gbenga Ashafa-led Senate committee on land transport to give report […]

BUSINESS

Nigeria’s Plan to Link Mines to Steel Mill Seen as ‘Buhari Test’

Daily Dispatch February 1, 2017

Nigeria’s plan to build a railway to supply iron-ore to its idle Ajaokuta steel plant could be the biggest sign yet that President Muhammadu Buhari is implementing his policy to diversify away from oil. The project began in 1979 with what the World Bank in 2002 called obsolete Soviet technology, and has never been finished. […]

BUSINESS LEAD STORY 2

We Can Produce 3m bpd-Kachikwu

Daily Dispatch January 31, 2017

The Minister of State, Petroleum Resources , Mr Ibe Kachikwu, said that Nigeria is capable of producing three million barrels of crude oil per day from the Niger Delta region. Kachikwu stated this at a stakeholders’ meeting organised by the Ministry of Niger Delta Affairs on Tuesday in Abuja. The News Agency of Nigeria (NAN) […]

BUSINESS

Adopt Jaiz Banking Policies- Emir Urges Banks

Daily Dispatch January 31, 2017

The Emir of Gwandu and Chairman Kebbi State Council of Chiefs, Alhaji Muhammad Iliyasu Bashar has enjoined commercial banks in the country to adopt banking policies of Jaiz bank in the interest of the masses. Bashar made the recommendation when the Managing Director of Jaiz Bank, Malam Hassan Usman and his entourage paid him a […]