Business Archives — Page 8 of 8

Apr

15

2021

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By Thewhisperer

How Ganduje, Dantata, others reconcile Dangote, BUA over sugar plant

Business, News

Ganduje, Dantata, others reconcile Dangote, BUA over sugar plant Governor Abdullahi Ganduje of Kano State and Billionaire businessman, Aminu Dantata have waded into the dispute between Dangote and BUA companies owned by two business moguls from the state. This is in order to resolve the lingering conflict among the two Kano State prominent indigenes Aliko Dangote and Abdussamad Isyaka-Rabi’u over the establishment of a Sugar plant by BUA. A statement by Abba Anwar, the Chief Press Secretary to the governor on Thursday in Kano, said the reconciliation meeting took place on Wednesday in Abuja. He said that Kano Emirate and…

Mar

26

2021

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By Thewhisperer

JUST IN: Properties worth billions of naira razed as fire guts Ochanja Market in Onitsha

Business

A devastating inferno today wrecked havoc in Ochanja Market in Onitsha, Anambra State, THE WHISPERER has learned. Properties worth millions of Naira were destroyed in the fire incident which occurred at the Menax Field section of the market where foams are sold. According to Newswave, the fire began around 12:00 midnight and continued unabated for hours. The source said the inferno was caused by an electrical fault This is the second fire incident within a month. In the early hours of March 5, 2021 the Plastic Market in Ochanja was razed with properties worth millions destroyed.

Mar

13

2021

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By Thewhisperer

WOW!!! After Her Emergence, WTO DG Okonjo-Iweala Visits Nigeria To Promote Entrepreneurship

Business, News

WTO DG Okonjo-Iweala Visits Nigeria To Promote Entrepreneurship Director General of the World Health Organization, Ngozi Okonjo-Iweala arrived Nigeria on Saturday, in a bid to see how the organization can support home-grown entrepreneurs. This is her first working visit to the country since she began work as WTO DG on March 1. THE WHISPERER learned that she was welcomed by the Permanent Secretary, Federal Ministry of Industry, Trade and Investment, Nasir Sani-Gwarzo. Among other things, she said she stopped by to thank President Muhammadu Buhari who gave the required support that led to her emergence as WTO DG. She further…

Nov

24

2020

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By Thewhisperer

FIRS generates in N4.178trn in 10 months, elites evading tax, says Nami

Business

The Federal Inland Revenue Service has on Monday said as of the end of October this year, it had generated N4.178 trillion out of the target of N4.23 trillion for the same period. This was disclosed by the Coordinating Director, Tax Operations Group of the FIRS, Mr Femi Oluwaniyi, in Abuja during an interactive session the Executive Chairman of the FIRS had with media houses. According to Oluwaniyi, the amount generated represented 99 percent of the target for the period. He said the target for the whole year was N5.76 trillion. The FIRS spokesman said despite the lockdown occasioned by…

Nov

22

2020

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By Thewhisperer

FG to slash levy on imported cars from 35% to 5%

Business

The Nigeria Customs Service (NCS) has proposed a reduction from 35% to 5 or 10% in the cost of importing used and new vehicles into the country. The Comptroller-General of Customs, Mr Hameed Ali made the disclosure while defending the Service’s 2020 budget before the House Committee on Customs recently. According to him, the proposal was made with the aim of swelling revenue and discouraging smuggling as Nigerian importers currently ship their containers to neighbouring ports where duties and levies are very low compared to what obtains in Nigeria. “We have forwarded a proposal for the downward review of vehicle…

Oct

26

2020

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By Thewhisperer

Petroleum Industry Bill: Oil Companies To Incorporate Host Community Development Trust

Industries, BusinessNDDC, Niger Delta Region

I Oil companies operating in Nigeria are expected to incorporate a host community trust for social and economic benefit from petroleum operations in the host communities. From excerpts in the new Petroleum Industry Bill (PIB) obtained by newsmen in Abuja, the aim of the trust is to foster sustainable prosperity within the host community. It will be recalled that milliants over the years had disrupted the exploration of oil in Nigeria over the inability of oil companies to develop the region. Experts are of the opinion that a good legislation would help to ensure that both the oil companies and…

Oct

22

2020

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By Thewhisperer

Gilead’s remdesivir first to win US approval to treat COVID-19

Health, BusinessCoronavirus, Cure for Covid-19, Health

The United States Food and Drug Administration has approved Gilead Sciences Inc’s antiviral drug Veklury – better known as remdesivir – for the treatment of COVID-19, the company announced Thursday. Veklury is the brand name for remdesivir, which was previously authorised by the FDA for emergency use to treat patients who have been hospitalised with COVID-19. Gilead becomes the first and only company to receive approval for a COVID-19 treatment in the US, according to the company’s press release. Remdesivir, which was developed by Gilead as a treatment for Ebola, works to stop the replication of SARS-CoV-2, the coronavirus that…

Sep

29

2020

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By Thewhisperer

P&ID Contract: UK court orders release of $200m deposit to Nigeria

Business, NewsCBN, Nigeria, P&ID

A commercial court in London has ordered the release of $200 million used as a deposit in the case against Process & Industrial Development (P&ID) to the Nigerian government. The Governor of the Central Bank, Godwin Emefiele who confirmed the development on Tuesday, said the ruling follows the establishment of prima facie fraud before the court. Commenting on the outcome, Emefiele said: “due to the substantial evidence of prima facie fraud established before the court, we are pleased that the judge has agreed to release the guarantee. We are also pleased that the Court has rejected P&ID’s application to increase…