Nigeria risks $400m fine over Mambilla power project as firm drags FG to Int’l court
By Amos ABBA THE completion of Nigeria’s multi billion naira Mambilla Hydro Project could hit the rocks after a Nigerian company that lost out in the contract bid filed a $400 million lawsuit against the Federal Government. The lawsuit filed by Nigerian-owned Sunrise Power and…
How rift over $1.5bn channel management contracts caused ‘cold war’ between Amaechi, Bala Usman
By Aderemi Ojekunle The suspension of Hadiza Bala Usman as the managing director of the Nigerian Ports Authority (NPA) on the orders of Rotimi Amaechi, minister of transportation, has been traced to a disagreement over the renewal of $1.5 billion channel management contracts at the…
Nigeria Earned N496bn From Vat in 3 Months – – NBS
By Francis Arinze Iloani The federal government’s Value Added Tax (VAT) collections rose to N496.39 billion in the first quarter of 2021 from the N454.69bn realised in the fourth quarter of 2020, according to the National Bureau of Statistics (NBS). The sectoral distribution of VAT…
British Airways-owner IAG Q1 loss narrows to $1.29B
BY AGENCIES International Consolidated Airlines Group (IAG), owner of British Airways and other European airlines, reported on Friday a first-quarter loss after tax at 1.07 billion euros ($1.29 billion), narrower than last year’s loss of 1.68 billion euros. As the COVID-19 pandemic continues to restrict…
EU to name and shame banks that fail to fight money laundering
By Jon Ihle The European Banking Authority (EBA) is setting up a centralised database to name and shame financial institutions in the EU that have weak anti-money laundering (AML) controls. The EBA, which is responsible for creating a single rulebook for bank regulation in the…
Insecurity worsening despite N10.02tn six-year security vote – BudgIT
By Okechukwu Nnodim The 2021 budget of the Federal Government contains 316 duplicated projects valued at N39.5bn, BudgIT, a civic-tech non-profit organisation in Nigeria declared on Tuesday. BudgIT said its investigations further revealed that 115 of the duplicated projects were from the Federal Ministry of…
What’s on your plate asks HOMEF
Resolutions from the Stakeholders’ Conference on the State of Biosafety in Nigeria There is increased push for the adoption of risky technologies such as genetic engineering especially in crop and animal breeding. This has heightened biosafety risks in many countries including Nigeria. With these risks…
Transforming Global Food Systems: José Graziano da Silva on the path to Zero Hunger
By Timothy A. Wise José Graziano da Silva has been one of the world’s most influential leaders in the fight against hunger. After leading Brazil’s Zero Hunger program nearly twenty years ago, he was appointed Director-General of United Nations Food and Agriculture Organization (FAO) in…
BUA Refinery: President Macron lauds Abdul Samad Rabiu as BUA signs deal with Axens
The French President, Emmanuel Macron, has commended the Chairman of BUA Group, Abdul Samad Rabiu for his commitment to developing lasting relationships between French and Nigerian businesses. This came as the French Minister for Foreign Trade and Economic Attractiveness, Franck Riester, paid a visit to…
Nigeria: Deepening Backward Integration in Sugar Sector
Obinna Chima who this week visited the Lafiagi Sugar Company, a subsidiary of the BUA Group, highlights efforts the company is taking to support the Federal government’s National Sugar Master Plan, boost job creation and support economic diversification Nigeria’s National Sugar Master Plan (NSMP) was…
Stay connected