Nigerians are likely to pay more for electricity as the new gas price recently approved by the Nigerian Electricity Regulatory Commission (NERC) for power generation came into effect yesterday, December 1 2014,
NERC said that the review of the regulated price of $1.8 per Million British Thermal Unit (MBTU) for natural gas in 2014 to power plants would definitely take off on December 1.
Transcorp Hotels Pc has revealed plans to wet Nigeria’s hospitality industry with top of the shelf hotels capable of hosting the biggest of global events.
The assurances came on the heels of denials of allegations of lack of due processes in securing approvals for Initial Public Offer (IPO) by Transcorp Hotels Plc.
It would be recalled that a section of shareholders of Transcorp Plc had raised issues on the modalities for obtaining approvals for the company’s IPO saying that there was no meeting of shareholders where the proposal was endorsed.
Due to what they described as lack of protection from their current umbrella, Ministry of Communication Technology, the Postal/courier sector in Nigeria has asked for a separate ministry citing multifaceted challenges facing the industry as well as some savings of over N300 billion for the nation’s economy.
The operators said that successive governments have failed to establish national postal commission (NPC) and want to be merged with Ministry of Transport, pending the creation of the commission.
Nigeria’s beverage market is in for a refreshing difference as a hybrid energy drink called Little Bigshot Energy Drink makes a grand entry.
Little Bigshot Energy Drink is building on its distinctive characteristic of not containing neither caffeine nor taurine in breaking the already crowed energy drink segment of the market.
Following the declaration by the Federal government that all warehouses of clearing agents remain closed, freight and forwarding agents at the Murtala Mohammed International Airport, MMIA, Lagos has appealed for their re-opening the closed warehouses at the airport for safety and security reasons.
COMFORT EKELEME,With Agency Report
Coordinating Minister of the Economy and Minister of Finance, Ngozi Okonjo-Iweala, yesterday said that mobile phone technology can help to bring financial services to the 80 percent of African women who do not have a bank account as well as bolster the growth in the continent.
Okonjo-Iweala was one of a dozen government, finance and business leaders who met in Nairobi on Monday to roll out a plan to bring financial services to more poor African women.
U.S. stocks rose on Friday, setting up a fifth consecutive week of gains on Wall Street, after China’s central bank cut its benchmark interest rate and its euro zone peer announced asset purchases in efforts to boost each region’s economy.
The broad move higher lost some steam in late morning trading with fewer than four NYSE stocks rising for each one falling. Earlier, the ratio was almost seven-to-one.
Foremost industrialist, Aliko Dangote has tasked young and upcoming entrepreneurs to always stay focused on achieving their dreams despite the many challenges of doing business in Nigeria.
Dangote, who gave the advice at the national summit on entrepreneurship and innovation with the theme: ‘Entrepreneurship, Job creation and Poverty reduction,’ held at the weekend in Lagos urged young entrepreneurs to focus on achieving their goals of establishing their businesses instead of dwelling on the challenges militating against their enterprises.
The Murtala Mohammed International Airport Command of the Nigeria Customs Service (NCS) said yesterday that it would ensure that the cargo terminals and warehouses at the Murtala Mohammed International Airport Lagos remain closed until the terminal operators address some of the nagging issues raised by Customs high command.
China said that it has cut interest rates unexpectedly thus stepping up efforts to support the world’s second-biggest economy as it heads towards its slowest expansion in nearly a quarter of a century, saddled under a mountain of debt.
But the central bank, keen to show it was not back-tracking on economic reforms, twinned the move with a slight liberalisation of the rates banks pay to borrowers in a bid to ensure millions of savers do not see their incomes hit.