Economy

Development: Reps Member Harps on Payment of Tax
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
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
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
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
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
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...
Nigeria: Pension Fund Administrators Exploiting Pensioners
Corruption, Economy, Finance, News, Nigeria

Nigeria: Pension Fund Administrators Exploiting Pensioners

Nigerian workers have been faced with different challenges over the years. All of these challenges hinge around government's insensitivity to their plight. We have heard stories of pensioners not receiving their pensions and we have even heard of those that collapse and even die while waiting to be paid. Given all of these, Nigerian workers thought their woes were over with the introduction of PFAs which allowed their funds to be managed by independent organizations. This appears not to be the case. While we've learnt that the Federal Government for about the past two years has not been remitting to the PFAs the deductions they make from the salaries of their employees not to mention the contributions they are supposed to make, we've also learnt that the PFA's themselves have been se...
We’re Committed to Making Ogun State  Investment Choice Destination – Abiodun
Economy, News, Nigeria

We’re Committed to Making Ogun State Investment Choice Destination – Abiodun

The Ogun State governor, Prince  Dapo Abiodun, on Thursday said that the state is irrevocably committed to ensuring that it becomes the investment choice of the country and the world. He disclosed the position in Lagos at a programme organized by the London Stock Exchange in conjunction with PwC  Nigeria to launch a report " Companies to Inspire Africa 2019". According  to the governor, his government believed that no government has the "monopoly of funds" He explained that a consortium of banks and other willing investors had approached the state for a chance to build the largest Creative Arts and Entertainment village in the state and we obliged. "We also appreciate the fact that no government has the monopoly of funds to engender a wholesome  and sustainable development; w...
Lagos State Partners Netherlands on Health, Education, Water Transportation
Economy, Education, Lagos News, News, Nigeria

Lagos State Partners Netherlands on Health, Education, Water Transportation

Lagos State Governor, Mr. Babajide Sanwo-Olu has reiterated his administration's commitment to partner with Netherlands on health, Education, technology, trade, tourism and infrastructure. Sanwo-Olu stated this while playing host to the team led by Netherlands Minister for Foreign Trade, Development and Cooperation, Mrs Sigrid Kaag who paid him a courtesy visit in his office in Alausa, Ikeja, Lagos. According to him, there are investment opportunities in Lagos, adding that the state is home to all, emphasising that the environment is friendly for foreign investors. The Governor thanked the team for the visit, and explained that Netherlands and Lagos share certain similar features such their locations below the sea level and technology which he said would assist in the bilateral ar...
Nigeria: Kachikwu Out, Dr Thomas John In As Chairman NNPC Board
Economy, News, Nigeria, Petroleum

Nigeria: Kachikwu Out, Dr Thomas John In As Chairman NNPC Board

President Muhammadu Buhari has appointed Dr Thomas John as the acting alternate chairman of the Governing Board of the Nigerian National Petroleum Corporation, bringing to an end the tenure of the former Minister of State for Petroleum Resources, Dr Ibe Kachikwu. NNPC’s Group Managing Director, Maikanti Baru, who announced this in Abuja, stated that the new board chairman would hold the position until the appointment of a new Minister or Minister of State for Petroleum Resources by the President. Baru also said the new chairman’s appointment was with immediate effect. The GMD said, “Dr John, a former Group Managing Director of the NNPC, is before the appointment, a member of the NNPC Governing Board.” Baru added, “He (John) will hold the position of the Acting Alternate Chairma...