Category: Economy - Page 28 - African News Today

Opinion: ExxonMobil Should Not be Allowed to Show Contempt for the Supreme Court of Nigeria – Femi Aribisala

28Aug

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Economy, Environment, Judiciary, News, Nigeria

Opinion: ExxonMobil Should Not be Allowed to Show Contempt for the Supreme Court of Nigeria – Femi Aribisala

To Chris Ngige, Minister of Labour and Productivity. EXXONMOBIL Should Not be Allowed to Show Contempt for the Supreme Court of Nigeria!! The message must be sent to ExxonMobil loud and clear that, as long as it is operating within the sovereignty of the Federal Republic of Nigeria, it must be subject to Nigerian laws. If you were to visit the Lagos headquarters of ExxonMobil (Nigeria) in Victoria Island, Lagos today, you would immediately notice that something strange is going on. You will find a number of people camped outside the building; sometimes chanting, sometimes dancing, sometimes shouting slogans. They are there 24/7; day and night. Surely, this is anomalous to the activities of an international oil company. You will also notice that there are placards hanging everywher...

Africa: Africa looks for something new out of Trump

27Aug

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Africa, Economy, Justice, Kenya, News, Nigeria, Security

Africa: Africa looks for something new out of Trump

Donald Trump will welcome Kenya’s Uhuru Kenyatta to the White House on Monday for what will be only the second one-on-one meeting the US president has held with an African leader since he took office last year. The first meeting, with Nigeria’s ailing 75-year-old Muhammadu Buhari in April, ended with the US president telling aides he never wanted to meet someone so lifeless again, according to three people familiar with the matter. Advocates of closer US-Africa ties hope his encounter with the younger, more urbane Mr Kenyatta, 56, will breathe fresh life into a relationship with a region that Washington is seen to have neglected as other countries, notably China, develop ever-closer trade and investment ties with the continent. Under Emmanuel Macron, France is also trying to reset...

18Jul

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Aviation, Economy, News, Nigeria

Nigeria: Nigeria Air Unveiled in London

The Minister of State for Aviation, Hadi Sirika today Wednesday the 18th of July unveiled the name and logo of the long awaited Nigerian carrier - Nigeria Air. This happened at the Farnborough International Airshow in London. Speaking at the event, the Minister noted that this was not a social service but a private sector driven initiative. According to him, the Federal Government will only own 5% of the new carrier. He said "This will be a National Carrier that is Private sector-led and driven. "It is a business, not a social service. The government will not be involved in running it or deciding who runs it. The investors will have full responsibility for this." He noted that though the announcement is coming later than initially planned, the Federal Government was committed t...

Nigeria: Miyetti Allah Thrives on Conflicts – Dr. Nura Alkali

29Jun

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Crime, Economy, Fulani Herdsmen, Human Rights, Justice, Nigeria, Security, Terrorism

Nigeria: Miyetti Allah Thrives on Conflicts – Dr. Nura Alkali

Only the blind will insist on living a 17th century life in 2018. It is northern states that have land for cattle ranches Dr. Nura Alkali, the Chief Consultant Neurologist at the Abubakar Tafawa Balewa University Teaching Hospital Bauchi (ATBUTH) and a Fulani man has been credited with the following statement on the Fulani Herdsmen crises. "How ironic that, today, it is the Fulani who lack leaders to guide them and pursue their interests through legal ways. Please, don't mention "Miyetti Allah", which is a cattle-breeders' association. I have never owned a cow in my life, and I don't intend to, meaning I have no business with Miyetti Allah. ("Mi Yetti Allah" means "I thank God" in Fulfulde. I'm referring to the group here, not the literal meaning). "Miyetti Allah claims to...

Breaking News: GTB To Pay Innoson’s N14Billion Judgment Debt Into An Interest Yielding Account – Supreme Court

7Jun

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Breaking News, Economy, Judiciary, News, Nigeria, Press Statement

Breaking News: GTB To Pay Innoson’s N14Billion Judgment Debt Into An Interest Yielding Account – Supreme Court

Today, 7th of June 2018, The Supreme Court struck out GTBank’s motion for stay of execution of the Enugu Court of Appeal Division’s order that GTBank pays over N6 Billion into an interest yielding account at the Court of Appeal. Innoson’s legal team which was led by Prof McCarthy Mbadugha ESQ told the Supreme Court that the Judgment debt which arose from excess and unlawful charges which GTB took from Innoson’s account now stood at over N14billion. The Supreme Court decision follows GTBanks motion for stay of execution at the Supreme Court when the Court of Appeal Enugu Division ruled on 9th Dec, 2014 that the appellant (GTB) is hereby ordered to pay the sum of Five Billion, Nine Hundred and thirty Six Million, One Hundred and Twenty Six Thousand, Two Hundred and Nineteen Naira, One K...

Nigeria: Government has Created Almost 9 Million Jobs – Garba Shehu

3Jun

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Agriculture, Economy, News, Nigeria

Nigeria: Government has Created Almost 9 Million Jobs – Garba Shehu

Senior Special Assistant, Media and Publicity to the Muhammadu Buhari, Mr Garba Shehu has once again given the Buhari led administration very high marks for performance. According to him, this administration has performed well with regards to fulfilling its campaign promises to Nigeria. He made this known while speaking on Channel Television program "Sunday Politics". Garba specifically mentioned Buhari's promise to create 3 million jobs yearly, saying “We have done as much as that if not more”. He claimed that the Agriculture sector and the N-Power scheme alone created about 6 million jobs. According to him, adding private sector jobs raises this number significantly. He said "If you follow what the Rice Growers Association of Nigeria are saying, in Agriculture alone...

Nigeria: Subsidy on Petrol Hits N1.4tn per Year, Says FG

6Apr

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Corruption, Economy, Nigeria

Nigeria: Subsidy on Petrol Hits N1.4tn per Year, Says FG

A total of N1.4tn is now being spent annually by the Nigerian National Petroleum Corporation as subsidy on Premium Motor Spirit, popularly known as petrol, the Federal Government has said. Although it described the amount as under-recovery, the government stated that the national oil firm had been shouldering the huge financial burden, because the NNPC is the country’s supplier of last resort when it comes to the provision of petroleum products. The Minister of State for Petroleum Resources, Ibe Kachikwu, who disclosed this while speaking at a Liquefied Petroleum Gas workshop organised by the Federal Ministry of Petroleum Resources in Abuja on Thursday, also stated that the ministry planned to unveil an infrastructure rebirth map for the oil and gas sector in two months. On March ...

Nigeria: Why I Spoke Directly to Nigerian Leaders – Bill Gates

27Mar

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Economy, Education, News, Nigeria

Nigeria: Why I Spoke Directly to Nigerian Leaders – Bill Gates

The Co-Chair of the Bill and Melinda Gates Foundation, Mr. Bill Gates, again on Monday criticised the Federal Government’s Economic Recovery and Growth Plan. Gates, in an interview with the CNN, said that the Federal Government’s investment in education and health was not good enough. “While it may be easier to be polite, it’s more important to face facts so that you can make progress,” the philanthropist told a room of Nigeria’s government elite that included the President. In an exclusive television interview with the CNN, Gates said he spoke out to implore Nigerian politicians to focus on human capital and its large youth population. “The current quality and quantity of investment in this young generation in health and education just isn’t good enough. So, I was very direct,...

Nigeria: Ogbeh’s Claim on Rice False, Says Thailand Ambassador

8Mar

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Agriculture, Economy, News, Nigeria

Nigeria: Ogbeh’s Claim on Rice False, Says Thailand Ambassador

Ambassador of Thailand to Nigeria, Wattana Kunwongse, has denied the claim by Chief Audu Ogbeh, Minister of Agriculture, that rice mills are collapsing in the Asian country. On Friday, Ogbeh had claimed that Thailand said President Muhammadu Buhari’s policy on local rice sufficiency was responsible for the collapse of seven of its mills. He said: “Just like two weeks ago, the ambassador of Thailand came to my office and said to me that we have really dealt with them. “But I asked what did we do wrong and he said unemployment in Thailand was one of the lowest in the world, 1.2 per cent, it has gone up to four percent because seven giant rice mills have shut down because Nigeria’s import has fallen by 95 per cent on rice alone.” TheCable fact-checked the minister’s claims and fou...

Nigeria: Ikeja NBA Gives Lagos Seven-day Ultimatum to Reverse Land Use Charge

8Mar

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Economy, Nigeria

Nigeria: Ikeja NBA Gives Lagos Seven-day Ultimatum to Reverse Land Use Charge

The Nigerian Bar Association, Ikeja Branch, has given the Lagos State Government a seven-day ultimatum to reverse the recent hike in Land Use Charge. The Chairman, NBA Ikeja Branch, Mr. Adesina Ogunlana, said in a statement on Wednesday that the association was set to embark on a mass protest tagged: ‘Hell Tax Must Go’ against the new tax regime. Ogunlana stated that the NBA was strongly opposed to the LUC, which he described as an “excessive and arbitrary tax regime” calculated at turning Lagos State into a “toxic environment and a living hell” for the residents. He said the association would give Governor Akinwunmi Ambode till next Monday to retrace his steps on the LUC, failing which its members would hit the streets on Tuesday. According to him, the protest will be the asso...