Category: Business
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Petroleum price increase looms, depot price now N138.62 per litre
There are indications that Nigerians may pay higher for the purchase of premium motor spirit in the month of August, SGTV gathered. Analysts believe pump price may witness an increase from N140.80-N143.80 per litre to N147.40-N150.40. This is following the announcement of a new Ex-Depot price of N138.62 per litre by the PPMC. A release…
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#BREAKING: Shoprite to leave Nigeria
South African Company, Shoprite Holdings Limited, has reportedly said it will auction off its outlets in Nigeria, This is coming about 15 years after it opened its first store in Lagos in December 2005. The megastore company with presence in most Nigerian cities hinged this decision on the coronavirus pandemic which has disrupted major businesses…
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Aba Automated Shoe Factory has best machines in Nigeria — Technical Partner
The Aba automated shoe factory is set to commence operations, September 2020. Technical partner of the Factory, Mr Osaro Ekonweren, who disclosed this after the inauguration of the Board of the company by Gov.Okezie Ikpeazu, in Umuahia, described the Aba Automated Shoe Factory as currently having the most updated shoe producing machines in the country.…
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FIRS extends filing deadline by seven days
The Federal Inland Revenue Service (FIRS) has further extended deadline for companies to file their tax returns by one week. A statement from the service, on Thursday, explained that the extension was both in the spirit of the festive season and appreciation of the difficulties businesses were facing due to coronavirus pandemic. “In furtherance of…
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Markets in FCT to operate seven days as against three
Markets around the FCT are now to operate daily as against three days in a weeks. This is following a resolution reached in virtual meeting between the FCT Minister, Malam Muhammad Musa Bello and members of the FCT COVID-19 Response Team. Others are the meeting include senior members of the Administration and members of the…
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Independent panel absolves Adesina of corruption
An independent panel of experts, headed by former Irish President Mary Robinson, has cleared the beleaguered leader of the African Bank of Development, Akinwumi Adesina, of corruption allegations, according to AFP. Adesina, 60, a charismatic speaker known for his elegant suits and bow ties, became the first Nigerian to helm the AfDB in 2015 –…
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COVID-19: Nearly 400,000 Global Airline Jobs Reportedly At Risk
About 400,000 airline workers have been fired, furloughed or told they may lose their jobs due to the coronavirus, according to Bloomberg calculations. The aviation industry has suffered more than most as the pandemic destroys ticket sales and strips companies of cash. Airlines the world over have drastically cut back on flights due to border…
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FG vows to ensure completion of Ajaokuta steel project
Relief has come the way of the Ajaokuta Steel plant as the Minister of Mines and Steel Development, Arc. Olamilekan Adegbite reiterated commitment of the Federal government to the completion of the 41 years Steel plant. The Minister, while addressing the Senate leaders on over-sight visit to Ajaokuta Steel Company Limited (ASCL) and National Iron…
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COVID-19: British Airways retires entire 747 fleet
British Airways is to retire its fleet of Boeing 747 with immediate effect due to the effects of the COVID-19 crisis. The airline has used the craft since July 1989 and is currently the world’s biggest operator of the 747-400 model. It was planning to retire the fleet of 31 craft in 2024 but its…
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Enugu Airport to commence operation August 30 — FG
Minister of Aviation, Mr Hadi Sirika, on Tuesday assured anxious Nigerians that the Akanu Ibiam International Airport, Enugu would be reopened for flight operations by August 30 as ongoing rehabilitation would have been successfully completed by that date. He gave the assurance while inspecting rehabilitation works at the facility, which he said was now 95per…