Top News Update 14/07/2017
1. Central Bank Approves N660M For Gombe Farmers
2. Nigeria will borrow to implement FG recovery plan – Finance Minister
3. Power supply ‘ll be better from next month, says Fashola
4. Etisalat Nigeria Changes Brand name To 9Mobile Telecom
5. BF Partners EU, Kaduna Govt, Africultures on 3m Euro Literacy Project in the North
6. Navy seizes five vessels, arrests 76 suspected oil thieves
7. ‘Lagos councils can collect taxes from private car parks’
8. More floods imminent in Lagos, other states – FG
9. Ambode increases Lagos badminton prize money
Central Bank Approves N660M For Gombe Farmers
Current business news report as the Central Bank of Nigeria (CBN) said it has approved the sum of N660 million for 3, 479 farmers in Gombe State under the Federal Government’s Anchor Borrower scheme to boost rice farming. Head, Development Finance of the CBN in Gombe, Sani Muhammad Chobe, disclosed this, on Thursday, during a two-day sensitisation workshop for stakeholders. Chobe said plans have been concluded to commence the disbursement of the grant to the beneficiaries next week meant for the first and second batch of beneficiaries. He explained that the delay experienced in the process of arriving at the number of beneficiaries was as a result of the issue of duplication of bank accounts and Bank Verification Number (BVN) by the applicants with over 3000 cases identified.
Nigeria Will Borrow To Implement FG Recovery Plan – Finance Minister
The Minister of Finance, Mrs Kemi Adeosun said the country has no choice but to continue to borrow in other to implement the Federal Government’s Economic Recovery and Growth Plan. Adeosun said this in a statement signed by the Director of Information, Federal Ministry of Finance, Mr Salisu Dambatta on Thursday in Abuja. The minister said this following recent report on comments she allegedly made about Nigeria’s debt strategy and ability to borrow.
Power Supply ‘ll Be Better From Next Month, Says Fashola
More power will be available to enable better supply to homes from next month, Minister of Power Works and Housing Babatunde Fashola said yesterday at the University of Lagos. He spoke during a lecture delivered at an event – “Power sector reform In Nigeria: challenges and the way forward.” “We are working round the clock to solve the (power supply) problem. We are going to get more power by August.
Etisalat Nigeria Changes Brand name To 9Mobile Telecom
The embattled Etisalat Nigeria on Thursday rallied to move away from the shadows of its troubles by taking a new brand name. At end of a crucial management meeting of the telecom firm in Lagos, 9Mobile was unanimously adopted by the company as its new brand name. Last Monday, the chief executive of Etisalat International, Hatem Dowidar, said Etisalat Group would, in the next three weeks, phase out the brand name in Nigeria. The decision followed Emirates Telecommunications Group (Etisalat Group) withdrawal of further involvement in the ownership of the Nigerian subsidiary.
BF Partners EU, Kaduna Govt, Africultures On 3m Euro Literacy Project In The North
Owing to its passion and commitment to enhance literacy among young Nigerians particularly in the North, Book Buzz Foundation (BBF), has joined the European Union, Kaduna State Government and Africultures, as the implementing partner in the three million Euro ‘Right to Write Project’ for five states in Northern Nigeria. The project co-funded by the EU Trust Fund for Africa, aimed at supporting the literary aspirations of talented youths, in the writing and production of quality books for schools in five states in the North, was signed- off at the opening ceremony of the just concluded Kaduna Book and Arts Festival (KABAFEST), held at the Arewa House, Kaduna. The five states include Kaduna, Katsina, Bauchi, Bornu and Adamawa.
Navy Seizes Five Vessels, Arrests 76 Suspected Oil Thieves
The Nigerian Navy says it has impounded five vessels and two metallic barges illegally transporting 1,690 metric tons of diesel, in an operation in Rivers State. Flag Officer Commanding, Eastern Naval Command, Rear Admiral Victor Adedipe, said on Thursday that the command had handed over the vessels, barges and 76 suspects to prosecuting security agencies in Onne, Rivers State.
‘Lagos Councils Can Collect Taxes From Private Car Parks’
The Lagos Division of Appeal Court has affirmed the power of the state’s local governments to generate revenue from private car parks and car lots. In a verdict yesterday, the Appellate Court dismissed an appeal filed by a telecommunication firm, Airtel Network Limited, against the judgment of Justice Y. O. Idowu of the Lagos High Court and affirmed that private parking lots were revenue sources for local governments in Lagos State.
More Floods Imminent In Lagos, Other States – FG
The late commencement of the rains, the monsoon wind that usually brings heavy rain in the West African coast, and the rising sea levels due to the melting of glacier in the polar region will further increase floods in states like Lagos, Rivers and Cross River, among others, the Federal Government has said. In the latest flood alert advice prepared by the Federal Ministry of Water Resources for the country, the Minister of Water Resources, Mr. Suleiman Adamu, stated that the Nigeria Hydrological Services Agency, a parastatal of the ministry, had earlier come out with the flood outlook for the country on June 13, 2017.
Ambode Increases Lagos Badminton Prize Money
The Lagos State Governor Akinwunmi Ambode has raised the prize money for the 3rd Lagos International Badminton Classics from $15,000 to $20,000. The tournament has been scheduled to hold from July 26 to 29 at the Teslim Balogun Stadium in Lagos. Chairman, Lagos State Badminton Association, Francis Orbih, said at a press conference in Lagos on Thursday that Ambode lived up to his promise after attending the second edition of the event in 2015.