FG budgets N47 billion for Nigeria Air, as takeoff is delayed these factors

The Minister of State for Aviation, Senator Hadi Sirika, has disclosed that there are plans to continue with the establishment of Nigeria Air. According to the Minister, the Federal Government has earmarked N47 billion to ensure the completion of the project. However, the project’s takeoff is currently being delayed by disagreement among FEC members over modality issue, as well as and the uncertainty occasioned by impending cabinet reshuffling. Click here for more.

Why Legislature disagrees with Executive on 2019 budget – Dogara

Speaker of the House of Representatives, Yakubu Dogara, on Monday explained that the Legislature was not bound by law to pass the budget as presented by the Executive. Dogara, while reacting to a statement credited to President Muhammadu Buhari that the 2019 budget cannot be implemented as passed by the National Assembly, noted that the job of the National Assembly was not to agree with the executive. Click here for more.

Nigeria Loses N200 Billion Yearly To Cyber Crimes

Experts in the financial services sector have said Nigeria loses about N200 billion yearly to cybercrime menace, even as it is 20 years behind in recruiting skilled professionals who would fight the menace of digital security, but loses to the western world, who see cyber security talents as priority. Click here for more.

We’ll Create 20 Million New Jobs In Next Four Years – FG

The Federal Government on Monday unveiled fresh plans to create about 20 million new jobs in four different sectors of the economy. The strategy was disclosed in Abuja by the Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah, at a stakeholders’ meeting on job creation. Click here for more.

Investors Lose N302.41bn As Stock Market Maintains Downtrend; NSEASI Dips By -2.22%

Equities market closed yesterday on a negative note, as NSEASI depreciated by 2.22% to close at 30,194.71 points as against 1.89% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -3.93%. Click here for more.

Investors Show High Appetite for Longer Tenor Bond; OVN and OBB Rose to 12% and 11.14%

The money market rate increased last week as the Overnight rate (OVN) and Open Buy Back (OBB) rose to 12.00% and 11.14% from 5.29% and 4.57% respectively from the previous week. Click here for more.

FG set to issue N15bn Green Bond

The Federal Government is set to issue a Green Bond worth N15bn to finance some projects in renewable energy, afforestation, and transportation. In a statement issued in Abuja on Monday, the Debt Management Office said that the issuance of the bond was riding on the back of the first Green Bond issued by the Federal Government in December 2017. Click here for more.

Government earns N1.3b on concession of 19 silos, firms

The Federal Government earned about N1.3 billion from concession of about 19 Grain Reserves Silo Complex to the private sector. Besides, it would also earn about N10.4 billion from the concessionaires. Click here for more.

Nigeria earned N289.04bn from VAT Q1 2019 – NBS

Sectoral distribution of Value Added Tax data for the first quarter of 2019 reflected that the sum of N289.04bn was generated as VAT in Q1 2019 as against N298.01bn generated in Q4 2018 and N269.79bn generated in Q1 2018 representing 3.01 per cent decrease quarter-on-quarter and 7.13 per cent increase year-on-year. Click here for more.

From Pre-Seed to Series D: Startup Funding Rounds Explained

Raising equity funding for your startup is a long, difficult, and often demoralizing process. However, if you are successful, you walk away with money that will help your startup grow and become everything you hope it could become. Startups don’t just raise a lump sum of cash or get a startup business loan and then be set up for life. Click here for more.