Business Archives - Page 35 of 46

Jun

02

2023

Gov Alex Otti appoints sole administrator, reopens Abia market

Abia State, Business, Economy, PoliticsAbia State, Alex Otti, Business, Economy, Politics

Governor Alex Otti has reopened the Umuehilegbu Industrial Market in Osisioma LGA of Abia State after it was closed for some time because of leadership crises. The governor appointed Timothy Iheke Kalu as the sole administrator of the market for three months, during which he is expected to work with various unions in the market to resolve all issues that led to the closure of the market. The new market sole administrator is also expected to institute proper leadership, which would enable the market to function seamlessly during his three-month reign.

May

31

2023

By Amos Oge Kalu

NNPCL increases official fuel pump price to N537 per litre

Business, Economy, Opinion, Politics2023, Economy, Fuel Scarcity, Metro, Nigeria, Opinion, Politics

The Nigerian National Petroleum Company Limited (NNPCL) has jerked up pump prices of petrol, also known as Premium Motor Spirit (PMS) from N195 per litre to 537 per litre. According to a new price template disclosed by NNPLC on Wednesday, Lagos State has the least price of N488 per litre, while Maiduguri and Damaturu have the highest pump prices of N577 per litre. DAILY POST gathered on Wednesday that most filling stations in the nation’s capital, Abuja, had adjusted to the new pump price. Similarly, pump prices had been adjusted across States. For instance, in Benue State, the fuel price…

May

19

2023

By Amos Oge Kalu

Breaking: Buhari appoints Toyin Madein as Accountant-General

Business, EconomyBusiness, Economy, Mohammadu Buhari, Nigeria, Toyin Madein

he President, Major-General Muhammadu Buhari(retd), has approved the appointment of Toyin Madein as the substantive Accountant-General of the Federation. This was contained in a statement, dated May 19, 2023, which was signed by the Director, Communications, Office of the Head of Civil Service of the Federation, Mohammed Abdullahi Ahmed, on Friday, in Abuja. The Head of the Civil Service of the Federation, Dr. Folasade Yemi-Esan, stated that the appointment took effect from Thursday, May 18, 2023. Madein was born on March 7, 1965 7 in Iperu Remo, Ikenne Local Government Area of Ogun State, and until her appointment, she was…

May

11

2023

By Amos Oge Kalu

Osun: FG shut down 75 filling stations over infractions

Business, Economy, MetroBusiness, Economy, Metro, Nigeria

The Nigeria Midstream and Downstream Petroleum Regulatory Authority has shut down over 75 filling stations in Osun State. On Wednesday, Mr. Kunle Adeyemo, NMDPRA state Coordinator, disclosed this while briefing journalists on the agency’s activities in April. According to him, the filling stations were shut down due to non-compliance with the agency’s regulatory standard, including operating without a valid license. He said the agency, in the period under review, beamed searchlights on over 301 across the state and discovered many had committed several infractions. He urged that stakeholders in the industry must operate within the ambit of regulation to avoid…

May

09

2023

By Amos Oge Kalu

Nigeria’s debt profile races to N80trn under the Buhari govt

Business, Economy, MetroBusiness, Economy, Metro, Mohammadu Buhari, Nigeria

With Nigeria’s total debt stock racing to over N80 trillion, there is a heightened concern in the country. Stakeholders are of the view that Nigeria’s economy is in an emergency situation and on the verge of collapse if nothing is done. Although the Debt Management Office has consistently dismissed fears surrounding Nigeria’s increasing debt profile, economic analysts have never kept mum, signaling the alarm bill. DMO, in its Fourth Quarter report of 2022, said Nigeria’s total debt hovers around N46.25 trillion. Specifically, the total domestic debt stock was N27.55 trillion, while external debt stock was N18.70 trillion (USD 41.69 billion)…