Author: darelasisi@gmail.com

Comments budget By Tony Obiechina, Abuja Determined to meet future revenue projections in the country, the Federal Government plans to henceforth accompany Annual Budgets with Finance Bills. Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed who disclosed this at the Investing & Capital Markets Conference organized by Business Day on Thursday in Abuja said, “we plan that going forward, the annual budget will always be accompanied by finance bills to enable the realization of revenue projections”. In a key note address delivered at the conference with the theme, “Market Recovery, Innovation & Regulation in Nigeria”, Ahmed stated that future…

Rice Farmers Association of Nigeria (RIFAN), has appealed to Central Bank of Nigeria (CBN), to reschedule its loan repayment plan for rice farmers in Adamawa following recent flooding, which ravaged rice farms in the state. The state’s RIFAN Chairman, Mr Stephen Maduwa made the appeal in an interview with News Agency of Nigeria (NAN), on Thursday in Yola. Maduwa said the appeal became necessary because many of the rice farmers were beneficiaries of the CBN Anchor Borrowers’ scheme and were expected to repay their loan soon. He said the farmers were looking forward to bumper harvest before the flooding which…

I am delighted and honored to join you today to provide the Keynote Address at this year’s BusinessDay Investment and Capital Markets Conference, themed: Market Recovery, Innovation and Regulation in Nigeria. Earlier this month, during the Nigerian Economic Summit, I posed the question: What do we want our future Nigeria to look like; and how will we design the necessary policies, sustainably finance it, and ensure the thriving and booming private-sector led economy integral to bring about the much needed paradigm shift that will lead us there? I also shared a vision for a future Nigeria where the majority of…

South African telecoms major, MTN Group Ltd. has ditched a plan to sell its 53 per cent stake in Mascom Wireless Botswana, which is supposed to net the company 300 million dollars. Africa’s largest mobile operator by subscribers said in a quarterly update on Thursday that certain conditions related to the transaction had not been met, which led to the company’s decision. Chief Financial Officer Ralph Mupita said on a call with reporters that the bid for MTN’s stake in the business had been unsolicited, and it was for now no longer being held for sale. “In the long term,…

The Nigeria equities market on Thursday appreciated by 0.17 per cent on the last trading day of October 2019, amid bargain hunting. Specifically, the All-Share Index improved by 44.58 points or 0.17 per cent to close at 26,355.35 compared with 26,310.77 achieved on Wednesday. Also, market capitalisation inched N22 billion or 0.17 per cent to close at N12.829 trillion in contrast with N12.807 posted on Wednesday. The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Seplat Petroleum Development Company (SEPLAT), Nigerian Breweries, Dangote Cement, Flour Mills of Nigeria and University Press (UPL). Analysts…

The Buhari Media Organisation (BMO) has described presidential candidate of the Peoples Democratic Party (PDP) in the last election Alhaji Atiku  Abubakar as a fake democrat.  The group said the way Atiku cast aspersions on the Judiciary after the Supreme Court dismissed his appeal against the outcome of the February 23 Presidential election, shows that Atiku is not a true Democrat. BMO said the action of the former Vice President is contrary to the pledge made on his behalf by his official campaign spokesman Segun Showunmi, who told journalists that his principal would accept the verdict of the courts on the electoral challenge to…

The arrested Editor and webmaster of NewsDigest, an Abuja-based online newspaper, Mr. Gidado Yushau and Mr. Adebowale Adekoya, have been released by the Kwara State Police Command after they were thoroughly quizzed for publishing an investigative report in May 2018. The Chairman Board of Directors of Image Merchants Promotions Limited (IMPR), Publishers of PRNigeria, Dr. Sule Yau Sule made the disclosure this morning. IMPR is the parent company of the NewsDigest. Sule said after preliminary interrogation of the two NewsDigest’s workers, both Gidado and Adekoya, were released on bail, but asked to return next Monday with Alfred Olufemi for further…

Dr Akinwunmi Adesina, President, African Development Bank (AfDB), has reiterated the need for a “General Capital Increase’’ to   fast-track Africa’s growth and development. Adesina said this at the 5th Extraordinary meeting of the Board of Governors held in Abidjan. He said that strong support from the governors and the bank’s shareholders inspired AfDB to make appreciable progress on its mandate. “It is the strong waves of support from you our shareholders that have powered our hope, inspired our engagement and guided our ship to navigate to the shores of the African Development Bank Headquarters.’’ Adesina, while highlighting the achievements of…

Gov. Abdullahi Ganduje of Kano State, has directed the state ministry of Justice to review the Penal Code to enforce the death penalty on any person found guilty of Kidnapping in the state. Ganduje gave the directive in Kano on Thursday, while inaugurating the 16-member commission of inquiry, instituted by the state government to investigate cases of missing persons in the state from 2010 to date. He said the government found it necessary to take the measure in order to discourage others who might contemplate engaging in criminal and heinous crimes such as child kidnapping in the state. “I have…

The Federal Government says it is committed to ensuring a responsible and ethical use of the social media and air waves and no amount of opposition will stop it from sanitising the two media platforms. The Minister of Information and Culture, Alhaji Lai Mohammed stated this at the 2019 edition of the Annual Lecture of the Federal Radio Corporation of Nigeria (FRCN) with the theme, “Extremism: Threat to National Unity”. Mohammed said that since he announced government’s plan to sanitise both the broadcast industry and the social media, there have been varying reactions from Nigerians. He said while the government…