Business

Firestone’s decision to outsource some of its tappings to contractors on the plantation prompted a Legislative hearing on Capitol Hill last month. The hearing followed lawmakers’ allegation that the company violated certain provisions of the 2008 Amended and Restated Concession agreement, as amended in 2019. By Othello B. Garblah Harbel, Margibi County, July 24, 2024: – Last month, lawmakers led by …

The Federal Competition and Consumer Protection Commission (FCCPC) has fined US-based social media platforms Meta and WhatsApp $220 million for discriminatory practices and other violations. The Deputy Executive Chairman of the Commission, Adamu Abdullahi disclosed this at a press conference on Tuesday in Abuja. He said it took three years of intensive investigation for the FCCPC to come to that …

Investors in the Nigerian equity market lost N46 billion at the close of trading on Tuesday. This follows the decline in share prices of stocks such as UPL, JOHN HOLT and OMATEK among others on the trading floor today. After five hours of trading in the capital market, equity capitalization plunged to N56.8 trillion from N56.9 trillion posted by the …

Liberian farmers, especially those rearing animals or running poultry, say one of their major challenges is the lack of anyone or a factory that produces animal feed. Monrovia, July 23, 2024: Animal feed producer Mr David Moore has disclosed a fast-track of his farming activities in Bong County through the Ministry of Agriculture’s Rural Economic Transformation Project (RETRAP) and the World Bank grant. …

In a bid to curb rising inflation, the Central Bank of Nigeria (CBN) has raised its benchmark interest rate, the Monetary Policy Rate (MPR), to a record high of 26.75%. This is an increase of 150 basis points from the previous rate of 24.75%, which marked the third consecutive increase this year. CBN Governor Olayemi Cardoso announced this after the …

The Federal Government has reiterated its tough stance against financial institutions that fail to comply with windfall taxes on foreign exchange profits earned in 2023. This came as the Minister of Finance, Wale Edun, and the Chairman of the Federal Inland Revenue Service (FIRS), Zack Adediji, met with the National Assembly finance committee to discuss amendments to the 2024 Finance …

Minister of State for Petroleum Resources [Oil] Heineken Lokpobiri has intervened in the ongoing dispute between Dangote Group Chairman and CEO, Aliko Dangote and regulatory authorities in the oil and gas sector over issues surrounding the Dangote Refinery and Petrochemical Plant. Dangote and Nigeria’s oil industry regulatory authorities such as the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and …

The House of Representatives joint committee on petroleum resources (downstream and midstream) has issued arrest warrants against Alhaji Aliko Dangote, Chairman of Dangote Refinery and Petrochemicals, Nigerian Downstream and Midstream Petroleum Regulatory Agency (NMDPRA), International Oil Companies (IOCs) and other stakeholders. The gag order prevents the parties concerned from commenting further on the allegations and counter-allegations circulating about the quality …

The equity market started the week on a positive note on Monday, July 22, 2024 as investors earned N16 billion at the end of the trading session. This follows the increase in the prices of stocks such as TANTALIZER, LIVESTOCK and NEIMETH among others on the trading floor. After five hours of trading on the capital market, equity capitalization increased …

Labour Party presidential candidate in the 2023 election, Peter Obi, on Monday called for urgent action to prevent further collapse in the country. He was reacting to the latest rise in Nigeria’s headline inflation rate to 34.19 percent. In a series of tweets on his official platform X, the former Anambra State governor expressed his deep concern over the country’s …