Business Archives - Page 32 of 46

Jul

28

2023

100,000 firms to be removed from the CAC database – See Why

Business, Economy, MetroBusiness, CAC, Economy, Metro

100,000 registered firms will soon be deleted from the Corporate Affairs Commission's database, according to the organization. The Registrar-General and Chief Executive Officer of CAC, Alhaji Garba Abubakar, announced the commission's intention to remove 100,000 registered firms from its database during a training on "Use of the Beneficial Ownership Register" in Lagos. "CAC steps up enforcement of going off its register of 100,000 companies for failure to file an annual return," Abubakar added. He claimed that the Corporate Affairs Commission was scheduled to revoke the status of 100,000 businesses that had missed their deadline to submit yearly reports over the…

Jul

23

2023

By Amos Oge Kalu

For Africa, the Western summits are predominantly a letdown.

Business, News, Opinion, SponsoredAfrica, Nigeria, Politics, World News

African public opinion opposes the forums and summits that are hosted by Western nations. The main claim is that they are unnecessary and that Western countries only need them to give the impression of being in dialogue with African leaders to develop mutual cooperation. Various media outlets have reported that African delegations are complaining of a systematic lack of respect on the part of the host countries. The fact that Western countries do not see their African colleagues as equal partners offend Africa’s representatives. Although the US-Africa Leaders' Summit 2022 had extensive media coverage, no significant decisions or agreements that…

Jul

21

2023

By Amos Oge Kalu

Production of electricity falls by 16% to 3,501MW

Business, Economy, MetroBusiness, Economy, Metro

Nigeria's electricity production fell by 16.4% week-in-week yesterday, from 4,187.6 MW recorded on Thursday last week to 3,501.20 MW.' Our checks revealed that a number of reasons, including the state of the plants and the inadequate gas supply to thermal facilities, contributed to the situation. The situation has compelled the Electricity Distribution Companies, or DISCOs, to implement load shedding in an effort to distribute the scarce electricity among many people at various times. The Nigerian Electricity Regulatory Commission (NERC) recently announced that eleven electricity distribution firms, or DISCOs, had submitted a request for a rate review to the agency. According…

Jul

18

2023

By Amos Oge Kalu

In Abuja, the cost of Petrol rises to N617 a litre.

Business, Economy, MetroBola Ahmed Tinubu, Fuel Scarcity, Metro, Nigeria, NNPC

According to OHAFIATV News, the cost of gasoline has increased to around N617 per litre. A trip to NNPC filling stations at Utako in Abuja and along the Kubwa highway proved that the price has been changed from N539 to N617 per litre. Elder Chinedu Okoronkwo, National President of the Independent Petroleum Association of Nigeria (IPMAN), verified the development in an interview with OHAFIATV News on Tuesday. He asserts that market forces will continue to cause fuel prices to change. "With the removal of fuel subsidies, that is the system we are in. Based on market forces and changes in…

Jul

17

2023

By Amos Oge Kalu

Gov. Alex Otti reveals why Obi Cubana, a billionaire businessman, visited him

Abia State, Business, Metro2023, Abia State, Alex Otti, Business, Economy, Next Level, Obi Cubana

On Sunday, prominent businessman and billionaire Obinna Iyiegbu, also referred to as Obi Cubana, paid Alex Otti, the governor of Abia State, a courtesy call. The meeting was held in Nvosi, Isialangwa South LGA, Abia State, at the governor's mansion. Obi Cubana, a well-known entrepreneur with a track record of accomplishment, declared his intention to base a sizable chunk of his operations in Aba. On July 16, Governor Otti posted pictures from the trip on his Twitter account. He stated in his caption, "Today, I hosted a well-known business tycoon and investor Obinna Iyiegbu, well known as Obi Cubana, and…