Catalyst
PIB: IPMAN commends National Assembly for inclusion of PEF
The Independent Petroleum Marketers Association of Nigeria has commended the National Assembly for the inclusion of the Petroleum Equalisation Fund in the newly passed Petroleum Industry Bill. The Public Relations Officer of IPMAN, Yakubu Suleiman, gave the commendation on Sunday in a statement. Suleiman said the legislative arm of government had demonstrated that it was sensitive to the yearnings of majority of Nigerians for a permanent solution to the energy problems in the country. He said the entire content of the bill as passed by the Senate would serve as a catalyst for the inflow of the much desired foreign direct investment to boost the economy. He said: “The much awaited Petroleum Industry Bill has come to ease Nigerians of the pains that necessitated the call for the Bill in the ...
Dennis Bergkamp named Premier League Hall of Fame inductee
Dennis Bergkamp is the latest former player to be inducted into the Premier League Hall of Fame. The Dutchman joins ex-Arsenal team-mate Thierry Henry as well as Alan Shearer, Eric Cantona, Roy Keane and Frank Lampard in receiving the League’s highest individual honour. “It feels special to be part of a small group of players who got the recognition of playing in the strongest league in the world,” said Bergkamp. “I’m honoured.” His arrival at Arsenal in 1995 from Inter Milan was the catalyst for a transformation of the Premier League, the playmaker adding a new level of technical ability and skill that elevated the competition and attracted other stars from overseas. ‘THE PL MADE ME A BETTER PLAYER’ “I’m extremely proud if people say that I was one of the first foreign players who added s...
Senate considers bill to unbundle NIPOST
The Senate has commenced moves to unbundle the Nigerian Postal Service with the consideration of a bill to repeal and re-enact the Nigerian Postal Service Act 2004. The bill which scaled second reading on Tuesday was sponsored by Senator Oluremi Tinubu (APC, Lagos Central). Leading the debate on the general principles of the bill, Tinubu said the piece of legislation seeks a reform of the Postal Industry and to make Comprehensive Provisions for the Development and Regulation of Postal Services in Nigeria. According to the lawmaker, the Nigerian Postal Service (NIPOST) which dates as far back as 1852, evolved from an exigency of the colonial administration to a Collection Office of the United Kingdom and eventually, to the NIPOST. She recalled that as at 1st of October, 1960, when Nigeria g...
Nigerian government seeks new Eurobond
The federal government yesterday disclosed that it would approach the Eurobond market next year in its effort to shore up the economy, amidst cocktails of measures being put in place to douse the effects of the Covid-19 pandemic on the economy. On the same day, Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, while speaking at the 55th Annual Bankers Dinner organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, predicted a two per cent growth in the country’s Gross Domestic Product (GDP) in 2021. Finance Minister, Zainab Ahmed, who disclosed the Eurobond plan while speaking on Bloomberg TV, explained that the decision would depend on the prevailing interest rates. She, however, did not specify the amount to be accessed from the Eurobond. The Eurobond option is ...
Understanding the strength of small businesses
The number of small businesses keeps growing in the formal and informal sectors of the Nigerian economy, due to the role of small businesses as the live-wire of any economy and the backbone of major developed economies the world over. Though Nigeria rely majorly on oil and revenues derived from it, from context observation the economy is largely supported by small businesses covering almost all spheres of activities within the country, ranging from Nano, kiosk, and Micro businesses most importantly. A visible reference usually includes the vulcanizers, corner shop owners, single retail marketers, repairers, painters, business center operators, restaurants, market women, and men in the various open markets, among others. and the formal operations such as the law firms, accounting firms, con...