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Nigerians In Diaspora Remit N26.9 Trillion To The Economy In Five Years

Nigeria is the largest recipient of remittances in Africa. N26.9 trillion is equivalent to Nigeria’s budget over 5 years. In five years, Nigerians in the diaspora remitted to the Nigerian economy S77.06 billion (about N26.9 trillion), according to the National Migration Policy report of 2015. The report was published for …

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Patronising Made In Nigeria: Nigerian Army Orders 50,000 Shoes From Aba Shoemakers

In furtherance of the federal government’s policy of ‘Buy Made In Nigeria’, the Nigerian Army has placed order for 50,000 pairs of shoes to be produced and supplied by young shoemakers in Aba, Abia State which will be used by its soldiers. Before now, the Army had been importing most …

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Battle Of The Titans: It Was I Who Made You A billionairess, Obansanjo Quipped At Folorunso Alakija

Former President Olusegun Obasanjo said on Saturday in Lagos that Mrs Folorunsho Alakija, Africa’s richest woman by Forbes reckoning, was among the 25 billionaires he made during his tenure as President. Obasanjo stated this at the 2016 Tony Elumelu Foundation Entrepreneurship Forum. The former president was reacting to an allegation …

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NNPC, Total To Consider Lifting Oil By Rail

The Nigerian National Petroleum Corporation (NNPC) and Total Nigeria Plc are considering the movement of petroleum products through the rail system in other to reduce the cost of transportation. This, they believed, is possible if plans by government to overhaul the rail sector becomes realistic. Speaking at the Oil Trading …

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As War Against Corruption Attracts Foreign Investors, Sweden Seeks Increase In Trade Volume With Nigeria

• Puts export transactions at N222.7 billion • Ericsson laments forex, security, and other challenges Sweden is seeking opportunities that will increase the trade relations and volumes between it and Nigeria. Swedish Minister for European Union (EU) Affairs and Trade, Mrs. Ann Linde, who led the Swedish delegation to Nigeria, …

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Federal Government and Civil Aviation College To Forfeit N320m Over “Breach” Of Contract

Manufacturer auctions 4 Nigeria-bound training aircraft Rector blames forex scarcity for payment delay Emirates Airline threatens shut down Nigeria operations The Federal Government and the Nigerian College of Aviation Technology (NCAT) risk losing N320 million over a breach of contract. The Guardian, yesterday, learnt that the sum, being part payment …

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A Monumental N200 Billion Fraud Uncovered By The House Ad Hoc Committee On Insurance

Over N200 billion fraudulent payments by insurance companies have been uncovered by the House of Representatives Ad Hoc Committee on Insurance. The Chairman of the committee, Honourable Adekunle Abdulkadir Akinlade, explained that this is a systemic fraud, involving over 120 MDAs and 40 insurance companies. Honourable Akinlade insists that those …

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Business Incubation Hub Idea That Needs Replicating All Over Nigeria

With the right strategy, is it possible to create a network of technology hot zones across the country? “We would like you to visit Ventures Platform”, Fola and Kola told me, via email. Ventures Platform is a recently established technology start-up incubator, based in Maitama, Abuja. They had been asking …

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