Power Companies Risk Loss Of Licenses Over Breach Regulatory Deadlines
The eleven electricity distribution companies (Discos) operating in Nigeria are now facing a possible withdrawal of their operational licenses for their failure to meter their maximize demands (MD) customers before the February 28 deadline which was stipulated by the Nigerian Electricity Regulation Commission (NERC) on January 11, 2017.
Rising Export Pushes Nigeria’s Foreign Trade to N5.28tn In Q4
Nigeria’s total value of external merchandise trade rose to N5.28 trillion in the fourth quarter of last year (Q4 2016) compared to N4.78 trillion in the previous quarter, the National Bureau of Statistics (NBS) has said.
According to the NBS, this is the first quarterly positive trade balance to be recorded since the fourth quarter of 2015.
Nigeria’ll Save N800m Manufacturing Toothpicks Locally
As at the end of 2009, the total annual importation of toothpicks ran into about N800 million. The Federal Government then, as part of the efforts to encourage local production and save foreign exchange, took such commendable initiative, more so when the product can easily be manufactured locally. So far, investigations reveal that market for toothpicks not only exist, but is expanding and sustainable with the growing daily use of toothpicks.
UN Security Council Mission Visits Nigeria
The United Nations Security Council Visiting Mission to Lake Chad Basin Region will arrive in Maiduguri, Borno State today. On Monday, the Mission will go to Abuja to meet with the Acting President Yemi Osinbajo. Matt Moody, Spokesperson and Head of Communications, UK Mission to the UN, said: “on Day 5 of the UK Presidency, the Security Council will transfer to Maiduguri, Nigeria. They will meet local officials and civil society organisations before visiting an IDP camps.
Unions Berate FG Over Plan To Sack 3,500 Workers
Organised Labour has condemned the Federal Government’s alleged plan to sack 3,500 public servants on the grounds that they got appointment in irregular and unauthorised circumstances. This is even as it has warned that the planned mass sack of public servants, if not put on hold, would trigger industrial crisis in the public service, the magnitude of which no one could predict.
FG, IFAD Present Rice, Cassava Equipment To Farmers
To boost rice and cassava production, the Federal Government in collaboration with the International Fund for Agricultural Development (IFAD), has presented equipment worth millions of naira to farmers in Anambra State. Presenting the items in Awka, the state Commissioner for Agriculture, Mr Afam Mbanefo, said the equipment came at the right time and would record much success towards mechanisation of food production and food security in the country.
Concerns Over Non Payment Of N5.4bn Premium For Group Life Insurance
After seven months of consistent but futile efforts to persuade the federal government to pay the N5.4 billion premium for insurance of its employees, insurance sector operators now groan under heavy load of claims but trickle inflow of premium despite the ‘no premium no cover’ regime.
Lagos Motor Fair, Auto Parts Expo Hold In April
This year’s Lagos International Motor Fair and the related Autoparts Expo, will hold at the Federal Palace Hotel, from April 24 to 29, and April 26 to 29, 2017, respectively. Announcing the dates recently in Lagos, the organisers of the annual concurrent exhibitions, which will be marking their 12th and 6th anniversaries this year, gave the joint theme for the events as One Expo; Continental Spread.
Arik Air Slashes Airfares On Local Routes
The new management of Arik Air has announced a slash of airfares for passengers on all domestic routes in a special promotional fare geared at boosting patronage. The new airfare regime will enable passengers buy a-one-way ticket to any destination in Nigeria from N16, 000. The promotional fare will run from March 6 to March 20, 2017. To enjoy this offer however, customers are to buy their ticket on or before March 20, 2017, while the last date for travel is March 31, 2017.
NCAA, Stakeholders Trade Blames Over Dying Local Airlines
Investing in Nigeria’s domestic airline industry can be likened to a conscious and risky decision of flying an aircraft on a route saturated with the most turbulent of storms, lightening, thunder and poor visibility without any option of a smooth weather along the way and even when landing.