National Assembly passes N10.59trn budget into law

The National Assembly on Thursday passed the N10.59 trillion budget for the 2020 fiscal year into law with an increment of N264 billion from the N10.33 trillion proposed by President Muhammadu Buhari. The approval of the budget by the Senate followed the adoption of the report of Senate Committee on Appropriation. Click here for more.

FG takes over Yola DisCo, investors to get N26.9 billion refund  

The Federal Government of Nigeria is set to take over Yola Electricity Distribution Company (Yola DisCo), as the Nigerian Senate approved the sum of N26.9 billion as a refund for the acquisition of the company by private investors. Click here for more.

Kalu joins Dariye, Nyame in prison

A former governor of Abia State, Senator Orji Uzor Kalu, yesterday joined two former governors, Joshua Dariye (Plateau) and Jolly Nyame (Taraba), as an inmate in a correctional centre. Kalu, who is the Senate Chief Whip of the 9th Assembly, was found guilty by a Federal High Court in Lagos on fraud charges and remanded at the Ikoyi Correctional Centre. Click here for more.

NSEASI Dips Further By -0.09% As Sell Pressure Persists

Equities market closed yesterday on a negative note, as NSEASI depreciated by -0.09% to close at 26,913.70 points as against -0.02% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -14.37%. Click here for more.

Sanwo-Olu Unveils N250m Seed Capital for Tech Start-Ups in Lagos

Governor Babajide Sanwo-Olu has launched the Lagos State Science Research and Innovation Council (LASRIC), setting aside $687,000 (about N250 million) start-up funds for investment in research and development of tech-focused solutions across the six pillars of his administration’s development agenda. Click here for more.

Industrialists demand more FG commitment on power

Industrialists at a forum organised by the Association of Charters Certified Accountants have called on the Federal Government to be more committed to providing adequate power supply to Nigerians. Click here for more.

Global passenger traffic rises by 3.4% ahead of peak season

The International Air Transport Association (IATA) yesterday announced global passenger traffic data for October 2019, showing that demand climbed 3.4 per cent compared to the year-ago period. Click here for more.

Six million Nigerians join rice producers, says FG

Over three months after the closure of the nation’s borders, about six million Nigerians, including youths, have ventured into rice farming in the country, the Federal Government has said. Click here for more.

Anxiety in states over minimum wage

A Fresh industrial action may be looming across the country. More than 20 states are yet to commence negotiations with their state chapters of the Nigeria Labour Congress (NLC) as per the N30,000 minimum wage approved by the Federal Government. Click here for more.

Nigeria Yet to Make Contact With Pirates Holding Oil Tanker Crew

Nigerian security forces have mounted an intensive search for pirates who raided an oil super tanker off it’s coast and seized 19 crew members but have so far not made any contact with the hostage takers, the West African country’s maritime agency said. Click here for more.

Bankruptcy Protection No Sure Remedy for South African Airways

A decision to place South African Airways into bankruptcy protection is no guarantee the airline will be able to keep operating — that’s if the experience of other financially distressed companies is anything to go by. Click here for more.

Pelosi Puts House on Quick Timetable for Impeaching Trump

Speaker Nancy Pelosi set the House in motion toward a historic vote to impeach President Donald Trump on a rapid timetable that could bring the process to conclusion before the Christmas holiday. She directed the heads of the House committees that have been investigating the president to begin drafting articles. Click here for more.