Business

President Bola Tinubu has commended the Ministry of Solid Minerals Development for achieving important milestones in his country’s economic diversification efforts. The Ministry successfully executed the first commercial transaction under the National Gold Purchase Program (NGPP), which has injected $5 million into Nigeria’s foreign exchange reserves and N6 billion into the rural economy. The President praised the ministry’s efforts, stating, …

By Ramsey N. Singbeh, Jr., in Margibi County Friday, June 21, 2024-Employees and contractors at the Salala Rubber Corporation have angrily abandoned work in protest against alleged bad labor practices by management. The aggrieved workers are predominantly contractors, with very few employees who are tapping the company’s rubber on a daily basis. According to the investigation, the alleged bad labor …

By Patrick N. Mensah, Maryland County & Emmanuel Wise Jipoh in Monrovia PLEEBO, Maryland – A huge quantity of expired goods have been arrested at RITCO Distillery Company in Pleebo City, Maryland County, Southeast Liberia. Friday, June 21: – The seizure and arrest were executed early Thursday, June 20, 2024, by a team of Joint Security in Maryland County, comprising the …

The Nigerian government has reported strong interest from China in strengthening economic ties, with more than 200 Chinese companies expressing a desire to collaborate. This report was made known to the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, when he started his working visit to China on Friday. He was speaking at the China-Nigeria Business Exchange event, jointly organized by …

The Nigerian Electricity Regulatory Commission (NERC) has approved N21 billion for 11 Electricity Distribution Companies (DisCos) to provide meters to customers. NERC gave approval in ORDER NO: NERC/2024/072 on Operationalization of “Phase A” of the Presidential Metering Initiative within the Framework of the Meter Acquisition Fund signed by its chairman, Sanusi Garba. It reads: “The order signed by NERC Chairman, …

British Airways has grounded its plane at Murtala International Airport in Lagos due to a technical fault. However, the airline has apologized to its passengers and the country’s aviation authorities for the flight disruption. The airline’s Regional Commercial Manager, Nigeria and Ghana, Mrs. Tutu Otuyalo, told journalists on Friday that the airline would cover accommodation and food costs for affected …

Investors in the Nigerian equity market ended the week’s trading with a loss of N56 billion on Friday. This follows the fall in share prices, including MULTIVERSE, RTBRISCOE, and SUNUASSUR on the stock exchange floor today. After five hours of trading on the capital market, equity capitalization fell to N56.42 trillion from N56.47 trillion recorded by the exchange on Thursday. …

Following a recent directive from the Central Bank of Nigeria (CBN) to commercial banks in the country to increase their capital to support the country’s $1 trillion target, the Securities and Exchange Commission (SEC) has released a comprehensive framework for the 2024 recapitalization program . The CBN in a memo has directed banks with international reputation to increase their capital …

The US Diplomat emphasized that every country needs farmers because they are the backbone of any country.    Monrovia, June 21, 2024: The Chargé d’Affaires of the United States Embassy near Monrovia, Ms. Catherine Rodriguez, has praised Indian businessman and philanthropist Mr. Upjit Singh Sachdeva (Mr. Jeety) for mixing economic empowerment with his investment ventures in Liberia. She spoke on Thursday, …

Africa must be competitive and efficient in its areas of strength, according to Mustafa Chike-Obi, Chairman of Fidelity Bank. Speaking recently on the sidelines of the AFREXIMBANK Annual meeting in Nassau, Bahamas, Chike-Obi emphasized the importance of focused and sharp leadership in harnessing the continent’s strengths to achieve prosperity. He highlighted the need for Africa to identify areas of competitive …