Tag: Business

Lagos State Government opens 40 metric tonnes gas plant in ikorodu
Lagos State Government opens 40 metric tonnes gas plant in ikorodu

The Lagos State Government has opened a liquefied natural gas refill plant with the capacity to supply forty metric tonnes of gas for up to twenty thousand homes. Governor Babajide Sanwo-Olu commissioned the plant at Igbogbo-Baiyeku Local Council Development Area in Ikorodu Local Government Area. Governor Sanwo-Olu said the energy project was set up to help achieve…

Lagos State Governor invites investors from Nordic countries
Lagos State Governor invites investors from Nordic countries

Lagos State Governor, Babajide Sanwo-Olu, has told ministers and investors from the Nordic countries that Lagos is open for investments. The Nordic countries include Denmark, Norway, Sweden, Finland, and Iceland, as well as the Faroe Islands, and Greenland. Governor Sanwo-Olu also says Lagos State is open for collaborations with partners that are willing to take advantage of…

2021 Intra African Trade Fair ends in South Africa
2021 Intra African Trade Fair ends in South Africa

The 2021 Intra African Trade Fair has ended in Durban South Africa, and the next edition will take place in the city of Abidjan, Côte d’Ivoire, in 2023. This was announced by Nigeria’s former President, Olusegun Obasanjo, at the closing ceremony of the event in Durban. Obasanjo, who spoke in his capacity as Chairman of IATF 2021…

Nigeria’s capital inflow crashes by 80 percent 
Nigeria’s capital inflow crashes by 80 percent 

The Central Bank of Nigeria has reported eighty percent reduction of capital inflow to the country in two years. The CBN’s monthly economic report shows that capital inflow to Nigeria fell from seventeen point one billion naira in July 2019, to three point four billion naira in July 2021. The CBN said the fall is as a…

African Development Bank sanctions 40 Nigerian businesses
African Development Bank sanctions 40 Nigerian businesses

The African Development Bank has blacklisted at least forty companies and individuals in Nigeria. Those affected, whose names were not mentioned, are alleged to committed acts of corruption, including fraud. Information on the website of the AfDB indicates that the affected companies committed the acts between 2017 and 2021. The AfDB said those affected were delisted based…

VAT battle between Rivers State and FIRS moves to Supreme Court
VAT battle between Rivers State and FIRS moves to Supreme Court

The legal battle between Rivers State and the Federal Inland Revenue Service over the collection of Value Added Tax have moved to the Supreme Court in Abuja. The Rivers State government wants the Supreme Court to overturn the ruling of the Abuja Division of the Court of Appeal, which ordered parties to return to the way things…

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