Economy Archives - Page 83 of 95

Oct

06

2022

Federal Government issues fresh loan to 1.4million Nigerians

Business, Economy, Metro, PoliticsBusiness, Economy, Metro, Next Level, Nigeria, Politics

The Federal Government said it has targeted over 1.4m Nigerian for the second phase of the government Empowerment and Enterprises Program, GEEP, loan. Minister of Humanitarian Affairs and Disaster Management, Sadiya Umar Faruk, stated this on Thursday at the official flag-off of the program in Dutse, the state capital of the state. Represented by Permanent Secretary of the ministry, Nasiru Sani Gwarzo, said, the program is in line with the Federal Government’s effort to lift millions of Nigerians out of poverty. According to him “when President Muhammadu Buhari took over the mantle of leadership in 2015, over 70 percent of…

Oct

06

2022

By Chimamanda

Long queues resurface at Abuja fueling stations over suspected scarcity

Business, Economy, Lifestyle, MetroAbuja, Business, Economy, Metro, Nigeria

Long queues have resurfaced in Abuja filling states as motorists struggle to purchase Premium Motor Spirit, also known as petrol. Checks by our reporters showed that most fuel stations were locked while long queues were noticed in retail outlets in Wuse, Gwarimpa, Wuye, and Kubwa expressway on Tuesday. No official explanation has been given for the long queues, but motorists were seen making efforts to get the product and black market operators have also started to sell in jerricans A private car owner, Mr. Emmanuel Eze, said that there was fuel but does not know the reason for the queues.…

Oct

05

2022

By Kalu Odinakachi

Senate directs NLNG to pay N18.4bn compensation to host communities

Economy, Metro, PoliticsEconomy, Metro, Nigeria, Politics, Senate

Senate on Tuesday directed the Nigeria Liquefied Natural Gas, NLNG Limited to pay N18.4 billion compensation to 73 communities from Obiafu, Soku to Bonny in Rivers State for acquiring their land and loss of use of the affected land to pipeline Rights of Way. The company was given 60 days within which to make the payment to the affected communities. The resolutions were adopted after the Senate considered the report of its Committee on Ethics, Privileges and Public Petitions, chaired by Senator Ayo Akinyelure (APC Ondo Central) that investigated a petition by the communities. Presenting the report, Senator Akinyelure said…

Oct

04

2022

By Chimamanda

FG sues Meta, owners of Facebook, Whatsapp, seeks N30bn

Business, EconomyBusiness, Economy, Facebook, Metro, Nigeria

The Advertising Regulatory Council of Nigeria has lodged a suit against Meta Platforms Incorporated, the parent company of Facebook, Instagram, and WhatsApp platforms and its agent – AT3 Resources Limited – at the Federal High Court, Abuja Judicial Division. This was disclosed in a statement by the highest regulatory body for Nigeria’s advertising, ARCON. ARCON is arguing that Meta Platforms Incorporated has continued to expose the Federal Government to loss of revenue adverts. It is seeking N30bn in sanction for the violation of the advertising laws and for loss of revenue. The statement read in part, “ARCON reiterates that it…

Oct

04

2022

By Amos Oge Kalu

Smartphones to use a universal charger from 2024

Business, Economy, LifestyleBusiness, Technology, UK, World News

The EU parliament on Tuesday passed a new law requiring USB-C to be the single charger standard for all new smartphones, tablets, and cameras from late 2024. The measure, which EU lawmakers adopted with a vote of 602 in favor, and 13 against, will — in Europe at least — push Apple to drop its outdated Lightning port on its iPhones for the USB-C one already used by many of its competitors. Makers of laptops will have extra time, from early 2026, to also follow suit. EU policymakers say the single charger rule will simplify the life of Europeans, reduce…