The Managing Director and Trade Commissioner of the Japan External Trade Organisation, Takeshi Oku, has stated that Nigeria is still a destination for Japanese investment despite the harsh business terrain. Speaking on the sidelines of the opening ceremony of the Lagos International Trade Fair on Friday, Oku said some Japanese companies have a long history in the Nigerian market, adding …

The Arewa Economic Forum (AEF) has called for the establishment of a refinery at the Kolmani Oil Field in Bauchi State. Ibrahim Shehu Dandakata, Chairman of the AEF, made this announcement during a press conference in Abuja, emphasizing that the project is vital for the economic survival of Northerners, particularly in light of the current exorbitant fuel prices in the …

The Naira yesterday appreciated to N1,730 per dollar in the parallel market from N1,725 perdollar on Wednesday. The Naira depreciated to N1,675.49 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,675.49 per dollar from N1,631.17 per dollar on Wednesday indicating N44.32 depreciation for the naira. …

The Defence Headquarters (DHQ) has insisted that crude oil pipelines across the country must be metered, to curb oil theft. It lamented that its demand for the metering of crude oil pipelines in the country had yet to be activated. The Director of Defence Media Operations, Major General Edward Buba, on Thursday, noted that metering oil pipelines would help to …

The Presidency has assured that the tax laws under consideration by the National Assembly would increase the number of taxes now in operation. In an explainer on Thursday, the presidential adviser on Information and Strategy, Mr. Bayo Onanuga said that the proposed laws are rather designed to “optimise and simplify existing tax frameworks”. Addressing the concerns of governors of Northern …

Oil marketers have again written a letter to the Dangote Petroleum Refinery expressing their willingness to buy refined petroleum products from the $20 billion plant. They disclosed this on Wednesday following Tuesday’s remarks by the President of Dangote Group, Alhaji Aliko Dangote, that marketers were not buying products from the Lekki-based facility. Dangote faulted the continued importation of petrol by …

The House of Representatives has urged the Federal Government to withdraw airstrip licences already issued to private individuals and organisations in the interest of national security. This is even as the House sought immediate stoppage of the issuance of new licences for the operation of airstrips to individuals and organisations. The resolutions were sequel to the adoption of a motion …

Vice President Kashim Shettima on Wednesday said beyond just promoting the nation’s rich cultural heritage, the Nigerian carnival industry also has enormous potential to drive national unity and cohesion and empower the youths. To this effect, he pledged that the government is positioning the country’s carnival industry to tap from the global carnival market, estimated at $5 billion, as a …

Egbin Power has reinforced its commitment to promoting high safety standards and professionalism, as the Institute of Safety Professionals of Nigeria (ISPON) has inducted 28 employees of the GenCo as new members. According to ISPON, the certification further solidifies Egbin Power’s efforts towards promoting high safety standards and building a highly competent workforce equipped with expertise in safety management. During …

President Bola Ahmed Tinubu, speaking on Tuesday in Abuja, commended the Implementation Committee on the Naira-based sales of crude oil and refined products and asked the members to resolve any teething problems. In a review meeting at the State House, the President said that using the Naira was conceived to remove the exchange rate hurdle. “Whatever solution we proffer in …