Economy Archives - Page 42 of 71

Nov

03

2023

Conflict amongst palm oil unions in Umuahia leaves two injured

Abia State, Business, MetroAbia State, Business, Economy, Metro

After a fight between two rival market unions at Umuopara Palm Oil Beach Market in Umuahia South Local Government Area (LGA) of Abia State, two people were badly hurt and sent to the Federal Medical Center, FMC Umuahia. Since August 2023, the two competing organizations, the United Palm Oil Dealers Association and the Palm Oil Association of Nigeria, have been engaged in a power struggle about who should be in charge of collecting market revenues and who should be the market's leader. However, on Thursday, a violent altercation between the two competing associations sent three members of the United Palm…

Oct

25

2023

By Amos Oge Kalu

Tax tribunal orders MTN to pay $72.5m

News5G Network, Business, Economy, Metro, MTN

The Lagos State division of the Tax Appeal Tribunal has ordered MTN Nigeria Communications to pay $72,551,059 in tax default to the Federal Inland Revenue Services from 2007 to 2017. However, the Tribunal absolved the telecommunication firm from paying the sum of $21,039,807 as penalties and interest on the principal sum. A five-person panel led by Professor A. B. Hamed gave the verdict and order recently while delivering judgment in an appeal numbered TAT/LZ/VAT/075, filed by the telecommunication company against the request by the FIRS to pay the default. The Office of the Attorney General of the Federation released a…

Oct

02

2023

By Amos Oge Kalu

AIIP Project: Gov. Alex Otti Is Repositioning Abia State For Massive Investment – Amb. Osita Offor, UAAP Convener

Abia State, Economy, Metro, PoliticsAbia State, Alex Otti, Economy, Politics, Ultimate Commander

The leadership of United Abia Artistes and Patriots (UAAP), has described the Abia Industrial Innovation Park (AIIP) project at Owaza in Ukwa West LGA which was flagged off on Saturday 30th September 2023 by Governor Alex Chioma Otti OFR as a revolutionary project that will reposition the economy of Abia State. While speaking at the sideline of the project launch, the Convener of UAAP Amb. Dr. Osita Offor ‘Ultimate Commander’, posited that UAAP is extremely happy that Governor Alex Otti is doing everything to turnaround the fortunes of the state and position the state in her rightful place within the…

Sep

19

2023

By Amos Oge Kalu

Nationwide blackout resulting from a new failure of the national grid

Business, Economy, MetroBusiness, Economy, Electoral Amendment Bill, Metro

A nationwide blackout is the result of yet another national grid failure. The national grid apparently failed on Tuesday at 11:31 a.m., according to OHAFIA News. Emeka Ezeh, Head of Corporate Communications, Enugu Electricity Distribution Company, EEDC, verified that the business lost supply from the grid around 11:31 a.m. on Tuesday in an exclusive interview with OHAFIATV News. "In fact, we haven't had supplies since around 11.31 a.m. In our network, sua has not been used. That is the predicament we are in, but there has been no actual proof of a systemic breakdown", he said. The president of the…

Sep

17

2023

By Amos Oge Kalu

El-Rufai says Nigeria’s most prosperous economic period is under the Obasanjo govt.

Economy, News, Opinion, PoliticsEconomy, El-Rufai, Obasanjo, Opinion, Politics

Former Kaduna State Governor Nasir El-Rufai acknowledged that Nigeria's economy grew noticeably during the second term of former President Olusegun Obasanjo. E-Rufai stated that Obasanjo's second term was the most successful time of economic growth in Nigeria during a session at the Africa In the World conference on Friday in Stellenbosch, South Africa. El-Rufai worked as a minister for Obasanjo, the first president of the fourth republic to be freely chosen, from 1999 until 2007.The former governor claimed that Obasanjo's administration was economically successful because it had good planning, adding that it was fortunate because the price of crude oil…