As one thought that the question had been asked and answered, and therefore rendered irrelevant, the growing passion for training young entrepreneurs continues to give life to it.The question resumed its relevance when it came from the respected President of one of Africa’s successful democracies, Nana Akufo-Addo of Ghana at the last forum of the Tony Elumelu Foundation in LagosSharing [...]
The $2.5 billion Ibom Deep Seaport, a public-private partnership (PPP) project would come to reality on or before April 2019.Speaking at the High-Level Stakeholders Retreat on Public-Private Partnership (PPP), Imeh Okon, the senior special assistant to the president on infrastructure, said the project would change the landscape of infrastructure in Nigeria."It will have solutions to traffic congestion in Lagos port [...]
President Muhammadu Buhari has pledged that the federal government will look into the issue of illegal tax collections to encourage more private sector businesses to thrive in the country.The president made the pledge when he received the leadership of the Amalgamated Union of Foodstuff and Cattle Dealers Association of Nigeria (AUFCDN) led by Ali Tahir.Buhari told the delegation that his [...]
The Nigerian National Petroleum Corporation (NNPC) says it is working to crash the price of cooking gas in the country.It said this would be done through the implementation of an effective commercial framework that would halt the export of propane and butane from the country.Mele Kyari, NNPC's group general manager, crude oil marketing division (COMD), made this known in a [...]
The Central Bank of Nigeria (CBN) plans to raise a total of N1.809 trillion from the debt market, in the first quarter (Q1) of 2019.This is according to data contained in the Nigerian Treasury Bills Issue Programme for the first quarter of 2019, posted on the bank’s website on Tuesday.The apex bank said it would raise N823.43 billion from rollover [...]
The Lagos Inland Revenue Service (LIRS) has directed employers to deduct capital gains tax (CGT) from any sum paid to employees on termination of their services.According to a notice released by the tax agency, such compensations are subject to taxation in section 6(a) of the Capital Gains Tax Act although it is exempted from taxation in paragraph 26 of schedule [...]
The board of directors of 9mobile says Adrian Wood, chief executive officer of Teleology Holding, exited the company because he could not meet his obligations to the consortium.In a statement released on Wednesday, the board explained that Teleology Nigeria, the company that paid $301 million for 9mobile, is a consortium of local and foreign investors.Wood, who was formerly the chief [...]
Aliko Dangote is Africa's richest man for the eighth consecutive time -- although his wealth dropped by $2 billion from $12.2 billion in January 2018 to $10 billion in 2019.This is according to Forbes' Africa Billionaires List released on Wednesday.Mike Adenuga, chief executive officer of Globacom with interests in oil exploration and real estate, moved up to be Africa's second [...]
Jim Yong Kim, outgoing president of the World Bank, will join Global Infrastructure Partners (GIP), a New York-based private investment fund, as a partner and vice chairman, Reuters reports.GIP, which is led by Nigeria's Bayo Ogunlesi as managing partner, manages over $48 billion in assets for various investors across the world.The new appointment was announced just a day after Kim [...]
The federal government, via the minister of finance, has backed the 540 megawatts Qua Iboe Power Plant (QIPP) proposed by the Kano state government for the re-industrialisation plan of the state.Zainab Ahmed, minister of finance, gave the assurance on Tuesday when she hosted Abdullahi Ganduje, governor of the state, and his team in Abuja.In a statement by Paul Ella Abechi, [...]
