FG Can’t Meet Labour’s Demand on Minimum Wage

The federal government Thursday declared that it would not be able to meet the demand of organised labour on the percentage for consequential adjustment of the N30,000 new minimum wage due to dwindling revenue. Click here for more.

Nigeria Loses Out in $50bn 2019 LNG Lnvestments

Nigeria and all other African countries lost out in a $50 billion liquefied natural gas inbestment for 2019, according to the International Energy Agency (IEA). Stakeholders in the LNG sector who expressed concern over the development. Click here for more.

Discos Insist Companies Paid All FG, State Taxes

The Executive Director, Research and Advocacy, Association of Nigerian Electricity Distributors (ANED), Sunday Oduntan, yesterday, said electricity distribution companies under the association paid necessary taxes in the sector. Click here for more.

NSEASI Erases Previous Day Loss; Inches Up By 1.09%

Equities market closed yesterday on a positive note, as NSEASI appreciated by +1.09% to close at 27,579.85 points as against -0.25% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -12.25%. Click here for more.

September 2019 FGN Bond Auction Oversubscribed

The Debt Management Office (DMO) conducted the monthly Auction of FGN Bonds on Wednesday, September 25, 2019. Three (3) Instruments (5-year, 10-year and 30-year bonds) with a total face value of N150.00 billion, were offered to investors at the Auction. Click here for more.

EU to support Nigeria with €150m

The European Union says it will support Nigeria with 150 million euro to enable it to tackle challenges of climate change. The EU Ambassador to Nigeria and Head of delegation, Mr Ketil Karlsen, disclosed this at the European Union Climate Sustainability event held at the Dangote Business School, Bayero University Kano, on Wednesday. Click here for more.

FG’s wages to rise by N556bn in three years

If the personnel cost budget of N2.67tn proposed by the Federal Government for next year is approved by the National Assembly, then the wage bill of Ministries, Departments and Agencies of government would have increased by N556bn in three years from N2.11tn in 2018 to N2.67tn in 2022. Click here for more.

FG may bar foreigners from small scale mining

Indications emerged on Thursday that the Federal Government may no longer issue licences for small-scale mining to foreign businessmen and companies. Minister of Mines and Steel Development, Olamilekan Adegbite, gave the hint at a meeting with the Mining and Solid Minerals Group of the Lagos Chamber of Commerce and Industry in Abuja. Click here for more.

Samsung Heavy Industries Nigeria commended for maritime development

Samsung Heavy Industries Nigeria (SHIN), the leading operator of the SHI-MCI fabrication and integration yard, has won a highly-commended award in the category of contribution to development of the regional maritime cluster at the prestigious Seatrade Maritime Awards Middle East. Click here for more.

$9.6 billion judgement: UK Court grants Nigeria stay of execution, requests $200 million payment 

Nigeria has been granted a stay of execution of the judgment that gave Process and Industrial Developments Limited (P&ID) the right to claim $9.6 billion in Nigerian assets. However, the stay of execution is premised on a condition. Click here for more.

Trump’s Attack on Whistle-Blower in Private Meeting Was Caught on Video

President Donald Trump used a closed-door gathering with U.S. diplomats in New York to attack Democratic rival Joe Biden and disparage a whistle-blower complaint over his controversial phone call with Ukrainian President Volodymyr Zelenskiy now at the heart of an impeachment inquiry. Click here for more.

China’s Top Diplomat Says Beijing Willing to Buy More U.S. Products

China’s top diplomat said on Thursday that China was willing to buy more U.S. products, and said trade talks would yield results if both sides “take more enthusiastic measures” to show goodwill and reduce “pessimistic language” in their trade dispute. Click here for more.