BUSINESS

I will privatise NNPC Even in Death – Atiku

Alhaji Atiku Abubakar, Presidential Candidate of PDP, has made clear again that he would privatise the Nigerian National Petroleum Corporation (NNPC) even if it cost him his life. The opposition Peoples Democratic Party’s candidate made the vow again on Wednesday while addressing the business community in Lagos. Brushing aside the controversy generated when he first made the promise, he repeated: “I ...

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South Australia Visitor Economy Soars to an all-time-high of $6.9 billion

South Australia, the location of the next World Routes event, has reported a record number of visitors to the region, with the state’s visitor economy soaring to an all-time-high of AUD $6.9 billion. The results of the latest International and National Visitor Survey showed growth in domestic and international expenditure and visitation. The biggest boost came from interstate guests, with ...

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World Bank: US-China Trade War Damaging Global Economy

Trade war between the world’s two largest economic powers already is inflicting collateral damage and threatens to do yet more harm to the global economy, the World Bank warned Tuesday. And the global slowdown is beginning as government and corporate debt rise, especially among the poorest countries, while mounting interest rates increase borrowing costs, the bank said in its semi-annual ...

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NERC names 4 DisCos with 50% metering of consumers

…Receives Highest number of Complaints Against BEDC  The Nigerian Electricity Regulatory Commission (NERC), has named four out of 11 Electricity Distribution Companies (DisCos) in the country that have metered up to 50 per cent of customers under their franchise  areas. NERC in its 2018 second quarter report published on its website also revealed that only about 45 per cent out ...

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Publish ‘names of contractors that disappeared with money for power projects’, SERAP tells Fashola

Socio-Economic Rights and Accountability Project (SERAP) has sent a Freedom of Information request to Babatunde Fashola, SAN, Minister of Power, Works and Housing urging him to use his good offices and leadership position to “urgently provide information on specific names and details of contractors and companies that allegedly collected money for electricity projects but failed to execute any projects, starting from the ...

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Nigeria’s First Gold Refinery on Stream

Nigeria’s first gold refinery being built by Kian Smith Trade & Co Limited is billed to be completed by the end of June 2019. There was already a significant monthly supply of gold from Zamfara, Kebbi, Kwara, Niger, Kaduna, Ibadan, Ile-Ife, and Ilesha and about 100kg per month from other parts of Africa,” said the Vice Chairman, Kian Smith, Nere ...

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Uber Launches Bus Service

Uber Technologies Inc has launched a bus-booking service in Cairo, Egypt the company’s Chief Executive Dara Khosrowshali said on his first visit to the country as the company aims to tap a sprawling low-income market. The company also announced a new Uber Lite app that, from early next year, will allow users with basic Android phones and little connectivity to ...

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Proposed Strike by Oil Marketers Act of Sabotage – IPMAN

The Independent Petroleum Marketers Association of Nigeria (IPMAN) says strike threat by some oil marketers over lingering fuel subsidy debts is act of sabotage. It also said in a statement by its National Secretary, Alhaji Danladi Pasali, in Abuja on Wednesday, that the threat was an attempt to disrupt the relative peace in the downstream oil sector. The proponents of ...

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