Category: Economy - Page 24 - African News Today

LAGESC Displaces Street Traders, Hawkers in Iyana-Ipaja, Ikeja, Dopemu, Others

29Aug

By Debo OmilaniNo Comments

Economy, Environment, Lagos News, News, Nigeria

LAGESC Displaces Street Traders, Hawkers in Iyana-Ipaja, Ikeja, Dopemu, Others

...Vows to ensure strict enforcement of law prohibiting street trading. Officers of the Lagos State Environmental Sanitation Corps (LAGESC) have embarked on an enforcement raid aimed at displacing and immobilising street traders and hawkers around Iyana-Ipaja, Ikeja and Dopemu axis where roads were obstructed. The operation sanctioned by the new Corps Marshall, Akinpelu Gbemisola, a retired Commissioner of Police, was led by Deputy Corps Marshal (Operations), Mr Kazeem Ganiyu and also accompanied by the Deputy Corps Marshal (Staff and Discipline), Alhaji Adeleke Adeesan, traversed the Iyana Ipaja axis of the state. The officers dislodged traders around Dopemu road to Alaagba Garage, Old Iyana-Ipaja road, Iyana-Ipaja roundabout bus stop, Akowonjo road, Egbeda bus stop, Dopemu road in...

Ikeja Electric Introduces E-Bills To Enhance Customer Experience

28Aug

By Debo OmilaniNo Comments

Economy, Lagos News, News, Nigeria

Ikeja Electric Introduces E-Bills To Enhance Customer Experience

Ikeja Electric distribution company has introduced its electronic billing (e-billing) platform, which enables customers to receive electricity bills promptly and conveniently, via channels such as SMS, USSD, email, IE Bill portal and IE mobile Application. This contained in a statement issued on Wednesday in Lagos by the Head, Corporate Communications for Ikeja Electric, Felix Ofulue, saying the e-billing initiative is in continuation of Ikeja Electric’s desire to leverage innovation and technology to improve customer experience. According to him, It is designed to deliver electronic bills directly to the customer thereby eradicating challenges such as misplaced bills or delayed delivery and other issues which are associated with distribution of physical bills. He explained that t...

Our PPP Initiative Yielding Results, Says Ogun State Gov.

20Aug

By Debo OmilaniNo Comments

Economy, News, Nigeria

Our PPP Initiative Yielding Results, Says Ogun State Gov.

Ogun State Governor, Prince Dapo Abiodun on Tuesday reiterated that his government Public Private Partnership initiative is already yielding results as large number of investors have started trooping to the State to explore business opportunities. The State Governor, Prince Dapo Abiodun, made this statement known when he received the Chief Executive Officers of S&W and Sigma Limited who paid him a courtesy call.in his office at Oke-Mosan, Abeokuta. The team had Mafia Charles and Adeshina Olaitan for Zigma Limited, while S&W Corporation, had Orji Orlo Imoh and it's president, Jung Woo Jin and has partnered with companies like Daewoo and Samsung in the past. Abiodun, said the Public Private Partnership was initiated by his administration, to enable corporate entities and go...

Nigeria’s Impending Debt Default: A looming African Disaster

15Aug

By adminNo Comments

Economy, Finance, News, Nigeria

Nigeria’s Impending Debt Default: A looming African Disaster

In 2018, a BusinessDay editorial sounded the alarm about the prodigious growth of Nigeria’s debt profile at a time when government revenues were either flat or shrinking. In a response very typical of the present administration, the Debt Management Office fired off a dismissive rejoinder questioning BusinessDay’s financial knowledge and insisting that all is well because Nigeria’s 19 percent debt-to-GDP ratio is significantly lower than that of countries like the USA, which owes 104 percent of its GDP. What the shallow window dressing attempt failed to account for was that in a country like Nigeria whose economy is largely divorced from government revenues courtesy of oil receipts, it makes little sense to base any borrowing decision on the debt-to-GDP ratio. According to data from Heri...

Development: Reps Member Harps on Payment of Tax

7Aug

By Debo OmilaniNo Comments

Economy, Finance, Lagos News, News, Nigeria

Development: Reps Member Harps on Payment of Tax

A member, House of Representatives, Hon. Jide Jimoh on Wednesday called on the corporate organizations, business groups and Nigerians to pay tax for the development of the Local governments in the country. Jimoh, representing Lagos Mainland Federal Constituency made the call in Lagos during Yaba LCDA 2019 Business Summit tagged: "Inter-Personal Relationship Between Local Government and The Corporate Bodies". He said that funds generated from the payment of taxes would be channeled to the development of the local government. According to him, without funding, there cannot be establishment of structures and capital projects. People must pay taxes, rates and levies to the local government which will help in developing the local council. He commended the initiatives of the council ...

We’ll Partner with EFCC to Recover Looted Funds in Kwara: AbdulRazaq

6Aug

By Debo OmilaniNo Comments

Corruption, Crime, Economy, News, Nigeria

We’ll Partner with EFCC to Recover Looted Funds in Kwara: AbdulRazaq

.... Laments diversion of N2bn SME funds Kwara State Governor AbdulRahman AbdulRazaq on Tuesday said his administration would partner with the Economic and Financial Crimes Commission (EFCC) to combat graft, including recovering funds looted from the state treasury. AbdulRazaq said corruption had almost crippled Kwara when he took over on May 29, lamenting how the N2bn the state accessed to boost small scale businesses was diverted and shared by some persons. According to the Governor, this meant that the state government would now have N35m deducted from its account every month. “I got a letter (last week) from the Federal Ministry of Finance saying they will now deduct N35m every month from our account because the state government, a few years ago, took N2bn for small and mediu...

We are Looking at the Possibility of Starting the Kwara Version of Trader-Moni – AbdulRazaq

2Aug

By Debo OmilaniNo Comments

Economy, Employment, Finance, News, Nigeria

We are Looking at the Possibility of Starting the Kwara Version of Trader-Moni – AbdulRazaq

The Kwara State Governor AbdulRahman AbdulRazaq has affirmed his position to understudy the TraderMoni programme of the Federal Government to extend soft loans to traders in Kwara version to reduce mass poverty. This contained in a statement by his spokesman, Rafiu Ajakaye while the governor visited the Abuja headquarters of the Government Enterprise and Empowerment Programme (GEEP), the implementers of the TraderMoni initiative, with the aim to replicate same in Kwara State. GEEP, which is supervised by the Bank of Industry, is one of the four sub-programmes of the National Social Investment Office (NSIO). The statement said the visit was for AbdulRazaq to discuss partnership with GEEP handlers on how Kwarans can further access the micro loans and lift thousands of people out of ...

Kwara State to Partner AfDB on Infrastructure Devt., Women Empowerment

31Jul

By Debo OmilaniNo Comments

Agriculture, Economy, Employment, News, Nigeria

Kwara State to Partner AfDB on Infrastructure Devt., Women Empowerment

Kwara State Government has opened talks with the African Development Bank (AfDB) on various areas of partnership, including road construction, small and medium scale enterprises with focus on women empowerment, energy, and agro-processing. This contained in a statement on Wednesday by the Chief Press Secretary to the Governor, Rafiu Ajakaye. According to the statement, the proposed partnership is the outcome of a meeting Governor AbdulRahman AbdulRazaq held with the AfDB team in Abuja on Monday during which he spelt out the priorities of his new administration and sought the buy-in of the development body. Governor AbdulRazaq at the meeting identified the priority areas to include education, healthcare, infrastructure, agriculture, women and youth empowerment, and entrepreneurship...

Nigeria: Investigate Pre-shipment Inspection Cancellation Order, Groups Urges Lawan

30Jul

By Debo OmilaniNo Comments

Economy, Finance, News, Nigeria

Nigeria: Investigate Pre-shipment Inspection Cancellation Order, Groups Urges Lawan

A group, Social Integrity Network (SIN) on Tuesday urged the Senate President, Dr. Ahmad Lawan to urgently investigate the pre-shipment inspection which was cancelled by the Nigeria Customs Service during the tenure of Alhaji Dikko Inde, former Comptroller of Customs. The Protesters who stormed the streets of Kaduna after press conference to demonstrate over the failing economic situation in the nation allying the fear that the war against insurgency may not end so soon. At a press conference held, the Social Integrity Network, (SIN) said: “If Nigeria government is really serious about the fight insurgency, they must revisit the matter and reverse the action with immediate effect. Because it is through this means that dangerous weapons are finding their ways into the country. “D...

Kwara State: Gov. AbdulRazaq Pledges Support for SME Growth

19Jul

By Debo OmilaniNo Comments

Economy, News, Nigeria

Kwara State: Gov. AbdulRazaq Pledges Support for SME Growth

Kwara State Governor AbdulRahman AbdulRazaq on Thursday pledged adequate support for the growth of small and medium scale enterprises, saying their success is key for socioeconomic development of the state. The Governor disclosed this while speaking with newsmen shortly after he visited Bawbaw Fishery located at Pampo, off Ogele-Afon Road in Asa Local Government Area of the state. According to him, this government will begin immediate intervention in the SMEs to boost youth empowerment and employment. "I'm very impressed with what I have seen and the government will intervene in supporting agric-business in the state through the Anchor Borrower Scheme of the Central Bank of Nigeria (CBN)," he said "Our focal point is enterprise and we'll get more youth involved. It is a w...