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Business news

Month: July 2023

We Have Capacity To Carry Diverse Risks – Ujoatuonu, Universal Insurance MD/CEO

  Universal Insurance Plc, one of the fastest growing insurance companies in the country, has built capacity over the years through a robust and well-structured reinsurance programme. Managing Director and Chief Executive Officer of the Company, Dr. Ben Ujoatuonu, who disclosed this at the annual general meeting of Nigerian Association of Insurance and Pension Editors […]

NAFDAC To Clamp Down On Drug Hawkers , Marketers Ripening Fruits With Carbide

  To stem the dangerous tide of drug hawking and ripening of fruits with calcium carbide, the National Agency for Food and Drug Administration and Control, NAFDAC, has warned that anyone found culpable will be arrested, prosecuted as well as serve a jail term.   The agency sounded this warning in Lagos, during a sensitisation […]

NLNG : Eleven In Contention For $100,000 Nigeria Prize For Literature

  The Advisory Board for The Nigeria Prize for Literature today announced the longlist of 11 drawn from 143 plays in the running for the 2023 edition of the prize. The genre in focus is Drama. The literature prize is sponsored by Nigeria LNG Limited (NLNG) with a cash award of $100,000. The 11 plays on the longlist, in alphabetical order by the title of the plays, are: •Dance of The Sacred Feet by Ade Adeniji •Gidan Juju by Victor S. Dugga •Grit by […]

Kaduna State Govt Investigates Diphtheria outbreak

The Kaduna State Ministry of Health, has confirmed an outbreak of diphtheria disease in some communities in Kafanchan, Jema’a Local Government Area. According to a press statement by Mohammed Shehu, the chief press secretary to the governor of the state, Uba Sani, the governor had directed the Kaduna State Ministry of Health to send an […]

Subsidy Removal: NEMA To Distribute Rice, Other Grains To Nigerians

The National Economic Council (NEC) has directed the National Emergency Management Agency (NEMA) to immediately distribute grains to states within one or two weeks to bring down the price of food items across the country. Governor Bala Mohammed of Bauchi State made the disclosure while briefing journalists on the outcome of the NEC meeting, chaired […]

Reps To Probe Alleged Use Of Contaminated Fuel In Aviation Industry

The House of Representatives yesterday resolved to investigate rising incidences of alleged contaminated aviation fuel and non-adherence to standard procedures in the industry. The investigation was prompted by the reported case of contaminated aviation fuel involving the main fuel tanks of Boeing 737-300 aircraft belonging to Max Air B737-300, which led to shut down of […]

Emadeb Becomes First Oil Marketer To Bring In 27m Litres Of Petrol

Emadeb Energy Services Limited has become the first oil marketer to take advantage of the deregulated downstream oil sector by bring in 27 million litres of Premium Motor Spirit (PMS) known as petrol for local consumption. The vessel, ST NENNE which berthed, at Emadeb Jetty in the Ijegun area of Lagos, is said to cost […]

Electricity Generation Drops 16% To 3,501MW

Nigeria’s electricity generation, yesterday, dropped Week-on-Week, by 16.4 per cent to 3,501.20 megawatts, MW, from 4,187.6 MW recorded Thursday, last week. Checks by Vanguard indicated the situation occurred because of many factors, including the poor state of plants and low gas supply to thermal plants. The development has pushed the Electricity Distribution Companies, DISCOs, to […]

FIRS Rakes-in Record N5.5 Trillion In Six Months

The Federal Inland Revenue Service (FIRS) has announced a total tax revenue collection of N5.5 trillion for the half-year period of January to June 2023.  This is the highest tax revenue collection ever recorded by the Service in any first six months of a fiscal year. Mr. Muhammad Nami, Executive Chairman of the FIRS stated […]

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