” In our budget proposals for 2025, we estimated over N531 billion for capital expenditure but was allocated a mere N9 billion. This is unacceptable, as it will hinder any significant investment in exploration, which is crucial for generating the geo-data that will attract major players.” Those were the words of the Minister of Solid…
▪︎UGC image credit: Arise News TV SHAREHOLDERS, Customers, investors, and other stakeholders of First Bank of Nigeria (FBN) and that of General Hydrocarbons Ltd, are waiting for the outcome of a $225.8m loan disputes between the two companies. General Hydrocarbons Limited and First Bank of Nigeria Limited are currently at the Federal High Court in…
China-based Huaxin Cement Co Limited has so far acquired six subsidiaries of LafargeHolcim cement plants in Africa. Huaxin Cement moves to be the second biggest cement producer in Sub-Saharan Africa after Dangote Cement. . Dangote Cement has a total production capacity of 52 million tonnes per year (MTa) across Africa. This makes it the largest cement producer in…
Ghana has scrapped visa requirements to enter the country for citizens of all African nations. The new policy is expected to boost travel, trade, and tourism. Joy Online, a local paper, reported that Ghana previously granted visa-free entry to citizens of 26 African nations and visas on arrival to travelers from 25 others, with only two…
Lagos State Governor, Babajide Sanwo-olu has hinted of developing the unsued spaces in Ikorodu Industrial Hub at Odogunyan. “It is important that the unused spaces are transformed into a vibrant center for innovation and social impact, as this aligns with our larger plan for industrial growth. Our aim is to create opportunities, attract investments, and…
The President of Abuja Chamber of Commerce and Industry (ACCI), Emeka Obegolu has expressed optimism that 2025 will bring renewed opportunities for businesses to thrive. In a New Year message, he commended the business community’s resilience and determination to navigate the economic challenges of 2024. “As we step into 2025, the Chamber is optimistic about…
The Federal Government has officially begun the implementation of the 2024 Withholding Tax Regulations. The new regulation exempts manufacturers, SMEs, and farmers from withholding tax obligations, a measure aimed at strengthening these critical sectors to ensure their sustainability and long-term growth. The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele,…
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President Bola Tinubu has reiterated his administration’s plans to reduce inflation from its current high of 34.6 percent to 15 percent in 2025. President Tinubu, in his New Year messages, admitted that 2024 posed numerous challenges to Nigerians and households. He said that 2025 will bring brighter days, adding, “By the grace of God, 2025…
The Manufacturers Association of Nigeria (MAN) called on the Governor of Lagos State, Babajide Sanwo-Olu, to use his good office to order the immediate reopening of the closed factories of Nigerian Bottling Company, FrieslandCampina, and Guinness Nigeria Plc, by the Lagos State Water Regulatory Commission (LASWARCO). Mr Adewale-Smatt Oyerinde, the Director-General of Nigeria Employers’ Consultative…
