Businesses

PDP raps President Buhari over performance claims

The Peoples Democratic Party, PDP, yesterday berated President Muhammadu Buhari over his stewardship in the past five years, saying he has failed to justify the confidence reposed in him by Nigerians. This is even as the party noted Mr. President’s “illusory self-assessment” has validated its position that “he has since abandoned governance for the luxury and pleasures of Aso Presidential villa, having lost sync with the reality of the devastation his incompetent administration has brought to our nation in the last five years.” In a statement signed by its spokesman, Kola Ologbondiyan, the PDP insisted “that every fair criticism of Buhari’s administration only reveals a litany of failures and a reversal of fortune for our country in the last five years,” adding that, “it is unfortunate tha...

Abuja chamber welcomes FCT tax harmonisation

Abuja Chamber of Commerce and Industry (ACCI) has welcomed the plan by the Minister of the Federal Capital Territory (FCT), Alhaji Muhammad Bello to harmonise tax policies within the territory in order end multiple taxations on by businesses in the territory. The President of ACCI, Alhaji Abubakar, in a statement yesterday, commended the minister for acknowledging the challenges faced by businesses within the territory due to series of levies, charges and taxes from Federal, FCTA and Area Councils. “Multiple taxations within the FCT and the larger national economy has imposed crippling consequences on businesses. “The fallout has been many failed businesses, the rising level of inflation, the non-thriving of existing ones and the lack of capacity to engage many unemployed youths. “We want ...

Normalcy returns to Kwara community after security operatives, drivers clash

Normalcy returned to Ilesha-Baruba community in the Baruten Local Government Area of Kwara on Monday after a Friday clash between security operatives and commercial vehicles drivers. The clash between the security operatives and drivers in the area left at least three persons dead and several people injured from gunshots. Newsmen report that the clash occurred on Friday during a misunderstanding over “bookings’’ between the operatives mounting roadblocks on the Ilesha-Baruba/Chikanda highway and commercial drivers plying the route. The corpses of the deceased, which had earlier been deposited at a morgue in Saki, Oyo State, were brought into Ilesha-Baruba on Sunday night for burial. Newsmen who went round the community reports that the residents have returned to their normal businesses. Ma...

Rivers governor threatens to shut jetty over criminal activities

Governor Nyesom Wike of Rivers State has threatened to shut down the Bonny-Bille-Nembe Jetty in Port Harcourt which conveys travelers to various riverine communities in the state if cases of criminality or physical violence in the area continued. The governor said the zeal to provide an enabling environment for sea travelers and boost the marine economy of the state spurred his administration to remodel the once dilapidated jetty first built in the 1950s. Wike stated this at the commissioning of the remodeled Bonny-Bille-Nembe Jetty by the Governor of Sokoto State, Rt. Hon Aminu Tambuwal on Saturday. The governor in a statement by his media aide, Kelvin Ebiri Wike, said he decided to remodel the once filthy and disused jetty because he firmly believes that the people of the state deserve t...

#EndSARS: It’ll take long to rebuild destroyed property – Governor Sanwo-Olu

Governor Babajide Sanwo-Olu of Lagos State, said, yesterday, that it would take the state time to rebuild the properties destroyed during the EndSARS protests. This came on a day the Lagos State government disclosed that the 2021 budget of N1.164 trillion would be funded from a revenue estimate of N971.028 billion in the fiscal year, with a target on the expansion of tax nets. Governor Sanwo-Olu stated this while briefing State House correspondents, after meeting behind closed doors with President Muhammadu Buhari, at the Presidential Villa, Abuja. He said the meeting dwelt more on the second wave of the Coronavirus pandemic, security situation and the impact of the #EndSARS protests in the state. On rebuilding Lagos after the EndSARS protests, he said: “It is also some of the things I dis...

PDP sets agenda for Lagos governor in 2021

The Lagos State Chapter of Peoples Democratic Party has advised Gov. Babajide Sanwo-Olu to strive hard to provide satisfactory dividends of democracy to residents of the state in 2021. The state PDP Publicity Secretary, Taofik Gani, said this in an interview with the News Agency of Nigeria in Lagos, while assessing Sanwo-Olu’s performance in 2020. “As a constructive opposition party, the year 2020 was not satisfactory in terms of dividends of democracy to Lagos residents. “Most of the local council chairmen performed below average, Sanwo-Olu should look into that because the chairmen are putting too much pain on the people due to their abdication of duties. “We are indeed very anxious to take over government as an opposition party in Lagos,” Gani said. According to him, the party shared wi...

Governor Abiodun: Agro-allied airport underway in Ogun

Ogun State Governor, Prince Dapo Abiodun, has disclosed plans by his administration to have an agro-allied based airport to aid the development of the state as a destination of choice for agriculture in Nigeria. Abiodun, who spoke during the inauguration of Agbeloba Aquaculture Hub in Owiwi, Obafemi-Owode Local Government Area of the state, said the agricultural sector remains the sure way out of poverty and unemployment ravaging the country. The project is being promoted by a former President, Chief Olusegun Obasanjo. While also expressing optimism that his administration believes that the state and the country as a whole can actually grow what it eats, the governor commended Obasanjo for continuously and tirelessly walking his talk on agriculture. He said, “We are looking at having an ag...

Coronavirus: FCT threatens to shut markets, malls

The FCT Administration has told shop owners to choose between complying with COVID-19 guidelines or having their business premises shut as part of measures to contain the pandemic. Head, Media and Public Enlightenment of the FCT Ministerial Enforcement Task team on COVID-19 Regulations, Ikharo Attah, issued the warning while monitoring the level of compliance in some shopping malls and business premises across the city. He said the administration will “not hesitate to shut down shopping malls, Maitama farmers’ market and business premises in the city that fail to comply with the COVID-19 protocols and guidelines. “From what we observed, there is high compliance by costumers and visitors to these malls and business premises, sadly, same cannot be said of the workers and operators of shops a...

Report: Jack Ma’s Ant Group considers overhaul due to regulatory pressure

Chinese financial technology giant Ant Group plans reorganisation that would allow it to be regulated more like a bank, Bloomberg reports. Jack Ma’s besieged Ant Group Co. is planning to fold its financial operations into a holding company that could be regulated more like a bank, according to people familiar with the situation, potentially crippling the growth of its most-profitable units. The fintech giant is planning to move any unit that would require a financial license into the holding company, pending regulatory approval, said the people, who asked not be named because the matter is private. The plans are still under discussion and subject to change, the people said. Ant declined to comment. The operations that Ant is looking to fold into the holding company include wealth managemen...

CBN: Naira to fall further in January

Barely five days to the end of the year 2020, the Central Bank of Nigeria has disclosed that a survey carried out by its Statistics Department revealed that the naira is expected to depreciate further in January 2021. The report, titled, ‘December 2020 Business Expectations Survey Report’ added that there might also be a steady rise in interest rate from December till the next six months. The naira witnessed a sharp fall in recent weeks, reaching its lowest on November 30, 2020, when it exchanged for N500/$1. Since then, the dollar has been hovering between N460 and N470. As of Friday, however, one dollar exchanged for 465 in the parallel market. Also, the Nigerian economy had on November 21 slid into its second recession in five years when the economy shrank again in the third quarter. Th...

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