July 25, 2023

Knowledge gap clog to agribusiness growth in Nigeria -Experts

Experts in the agricultural sector have said that farmers’ inability to boost productivity and produce wholesome foods is owing to a knowledge gap. Ikechukwu Kelikume, director of agribusiness at the Lagos Business School, speaking on the topic, “Enhancing Export Readiness: Quality, Standards, and Compliance at the BusinessDay Agrex conference panelists discussion said Nigeria must have …

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NPA decries increased extortion on port access road

The Nigerian Ports Authority (NPA) has decried increasing extortion on roads leading to the Lagos and Tin-Can Island Ports. The NPA, which recently cleared the port corridor of shanties that harboured criminal elements who perpetrate these acts of extortion, said extortion and allied illegalities were injurious to trade facilitation. Speaking on the eve of the …

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Bauchi: Bala submits 23 commissioner nominees to assembly

Governor Bala Mohammed of Bauchi State has submitted 23 commissioner nominees to the state House of Assembly for screening and confirmation. Abubakar Suleiman, the speaker of the house, who disclosed this during plenary on Tuesday, said the lawmakers received a message from the state governor, requesting the house to screen and confirm the nominees for …

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Avanti tops Africa’s satellite internet market with 33.1% growth

Avanti Communications, a satellite technology provider has grown its market share to 33.1 percent, a figure more than twice its nearest competitor at 15.3 percent. The figures were contained in the 20th edition of the NSR Satellite Capacity Supply & Demand Analysis Reports 2022, putting the satellite company at the top for the second year. …

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Pregnant woman, three children, 16 others burnt to death in Ondo tanker explosion

No fewer than 20 persons have lost their lives after a petrol tanker exploded at Ore, Odigbo Local Government Area of Ondo state on Sunday evening. BusinessDay gathered that the fire was said to have been ignited by a spark from a phone held by one of the persons who were scooping fuel that spilled …

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Senate tells FG, Discos to halt electricity tariff increase

The Nigerian Senate on Tuesday urged the Federal Government and the 11 Electricity Distribution Companies (DisCos) to halt the push for an increase in electricity tariff, noting that ‘the poor must be allowed to breathe.’ The Senate also resolved that henceforth, town hall meetings on electricity should be held at the head offices of the …

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LCCI tasks FG on right policies to drive digital economy

The Lagos Chamber of Commerce and Industry (LCCI) has charged the Federal Government to come up with the right policies and regulations that will enable the digital economy to create new possibilities and economic opportunities for businesses and investors. Michael Olawale-Cole, president of the LCCI, said this at the ninth edition of the chamber’s Information …

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Despite Tinubu’s reforms, IMF retains 3.2% economic growth forecast for Nigeria

The US-based International Monetary Fund (IMF) has retained its 3.2 percent forecast for Nigeria’s economic growth in 2023, despite President Bola Tinubu’s policy reforms of subsidy removal and unification of exchange rate. The Washington-based institution on Tuesday released an update to its World Economic Outlook earlier published in April. The development bank raised the forecast …

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DSS arrests Ikoyi Prison boss after clash on court ground

The Department of State Security Services (DSS) arrested a top official of Ikoyi Prisons on the premises of the Federal High Court in Lagos over a clash that arose over who takes custody of Godwin Emefiele, the suspended Central Bank of Nigeria governor. Emefiele was arraigned by the Federal Ministry of Justice for illegal possession …

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CBN maintains Emefiele’s hawkish stance, raise rate to 18.75

On Tuesday, the Central Bank of Nigeria (CBN) raised its benchmark interest rate, known as the Monetary Policy Rate (MPR), by 25 basis points to 18.75, maintaining the hawkish stance of ousted governor Godwin Emefiele. The CBN also adjusted the asymmetric corridor around the MPR to +100-300. Also Read: CBN raises interest rate to 18% …

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