Category: Business

By Muhammad Nami This matter of making the Stamp Duty (and by implication tax revenue) the next black gold has occupied my mind even long before I was appointed the Executive Chairman of the Federal Inland Revenue Service. I have thought that given the way the Nigerian economy has been experiencing some difficulties due to unpredictable shocks in the competitive international oil market, it would be economically wise that the country begins to activate its latent tax potentials such as the stamp duty which has long been neglected. For me,…

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President Muhammadu Buhari has approved the appointment of Professor Adesoji Adesugba as the new Managing Director of Nigeria Export Processing Zones Authority(NEPZA), a parastatal under the Federal Ministry of Trade and Investment. The President’s approval was given in a letter addressed to the Minister, dated 26th June, 2020 and signed by Professor Ibrahim Gambari, the Chief of Staff to the President. According to a statement made available to journalists in Abuja on Tuesday by the Media Assistant to Minister of Trade and Investment, Mr Julius Toba-Jegede, Otunba Richard Adeniyi Adebayo…

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…….At UBA Business Series In adjusting to the new normal, business owners and operators of Small and Medium Scale businesses have been advised to invest massively in technology and find ways to source their raw materials or supplies locally, as this is expected to boost their activities and help them stay afloat especially in the wake of the Covid-19 pandemic. The Managing Director/Chief Executive Officer, Airtel Nigeria,  Segun Ogunsanya, who gave these tips at the UBA Quarterly Business Series on Tuesday, said that it is important that businesses redefine their…

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Shell Nigeria Gas (SNG) has completed the final phase of its 20km domestic gas pipeline expansion project in Abia State, connecting Agbor Hill, Osisioma and Araria industrial zones. The project has also enabled the supply of pipeline gas to Ariaria Market Energy Solutions Limited, the Independent Power Project (IPP) consortium that provides electricity to the popular Ariaria market in Abia State. Ariaria International Market is one of the largest leather shoe-making and open stall markets in West Africa, with over 37,000 shops and an estimated one million traders. Managing Director,…

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……….Calls For Registration Of Business In its continuous attempt to support the growth and sustainability of small and medium scale businesses in Nigeria and Africa, United Bank for Africa (UBA) Plc will be hosting the UBA Business Series on Tuesday, June 30, 2020. The UBA Business Series, which is held quarterly, is a capacity building initiative where leading business leaders share insights on best business practices on how entrepreneurs can build a sustainable business empire especially in the challenging business environment in Africa. In this edition, which will be held…

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Dradrock Real Estate Limited, a Lagos based real estate development company, has unveiled a five-man board of directors that will take the fast-growing organization to the next level. The board was formally introduced at a brief media event, which took place last week at Dradrock’s corporate office in Lekki, Lagos. The Managing Director of the company, Oladipo Idowu-Agida, explained that the primary goal of this new line of action was to institutionalize every aspect of quality corporate governance in the organization. The board is ultimately responsible for ensuring that the…

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…Still Counting Polaris Bank in its undisputable support for SMEs in the health sector (Private hospitals, Pharmacies, Retailers, Diagnostic centres, etc…) launched a one stop-solution, in September 2019, and has disbursed billions to support the growth of the Nigerian health sector through tailor-made banking products for businesses in this space. This drive was further re-enforced by the CBN N100billion Health sector support fund set aside by the Apex Bank to help cushion the effect of COVID-19 on the nation’s economy and the health sector in particular. This was made known by the Bank’s Group Head, Products and Market…

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……….As Agency Begins Trial Of Pirates Under New Law ……….Mulls Incentives For Maritime Sector, Assures Of CVFF Disbursement Soon In order to rid Nigeria’s waterways of criminalities and reassure the global community that it is getting on top of the security issues in its maritime domain, the country will this week commence the prosecution of suspected pirates under the Suppression of Piracy and Other Maritime Offences (SPOMO) Act. Director-General of Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, disclosed this during interactions with journalists in Lagos. The Nigerian…

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The cutting-edge blood component extractor machine just donated to the Lagos State government has been described as a timely intervention to aid the recovery of novel coronavirus patients. The state Commissioner for Health, Prof. Akin Abayomi, said the machine would support passive immunisation of COVID-19 patients with the extraction of antibodies from survivors to be used on those battling with the deadly virus. Receiving the Terumo Spectria Optia model of the plasma apheresis machine from the Shell Nigeria Exploration and Production Company (SNEPCo) on Friday at the Infectious Disease Hospital,…

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Despite a harsh operating environment, leading Cement manufacturer, Dangote Cement Plc has leveraged on its size and strength to post an impressive performance in the year 2019, with the shareholders approving a dividend payout of ₦16 per ordinary 50k share. Excited representatives of shareholders at the virtual 11th Annual General Meeting (AGM) held in Lagos yesterday commended the management for the company’s resilience to record the profit despite the global economic challenges. Chairman of Dangote Cement Plc, Alhaji Aliko Dangote, told the shareholders that the year 2019 was a strong year…

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