Nigeria’s Oil Production Gets a Boost: NNPC, Chevron Convert Assets
A significant step towards increasing Nigeria's oil production has been taken, as the Nigerian National Petroleum Company Limited (NNPC) and Chevron Nigeria Ltd have successfully converted five joint venture assets to the terms of the Petroleum Industry Act (PIA) of 2021. According to a statement released by NNPC's Chief Corporate Communications Officer, Olufemi Soneye, the conversion process involved transforming five...
Elumelu Foundation Empowers Over 8,000 Women Entrepreneurs Across Africa
The Tony Elumelu Foundation has empowered over 8,000 women entrepreneurs in 54 African countries in just 10 years, representing 46% of the total number of entrepreneurs supported by the foundation. Dr. Awele Elumelu, co-founder of the foundation, highlighted this achievement during her keynote address at the 2024 Women Directors Conference of the Chartered Institute of Directors of Nigeria. The foundation's...
Experts Criticize New Fintech Levy: Could Stifle Innovation and Harm Economy
The Federal Government's recent decision to impose a N50 electronic money transfer levy (EMTL) on transactions above N10,000 has faced significant criticism from economists. They warn that this move could discourage digital transactions, harm the economy, and stifle innovation in the fintech sector. Former Chief Economist at Zenith Bank, Marcel Okeke, argued that the levy is ill-timed and could have...
Harnessing the Power of AI: Google Tools for Effective Marketing
In the competitive landscape of digital marketing, capturing attention is paramount for businesses to thrive. Traditional advertising methods are no longer sufficient to stand out and drive results. The advent of Artificial Intelligence (AI) has revolutionized the industry, offering businesses powerful tools to enhance their marketing strategies. Google Ads has been at the forefront of this technological advancement, introducing a...
Nigeria Takes Major Step Towards Gas Dominance with New FLNG Facility
The Federal Government has granted a "Licence to Construct" to UTM Offshore Limited for the development of a 2.8 million tonnes per annum Floating Liquefied Natural Gas (FLNG) facility, marking a significant milestone in Nigeria's gas industry. The project aligns with the government's Decade of Gas Initiative, which aims to boost gas production, distribution, and utilization. Minister of State for...
Obasanjo, Jonathan to Lead African Leadership Conference on Value-Based Leadership
Former Presidents Olusegun Obasanjo and Goodluck Jonathan will join other prominent figures at the upcoming African Leadership Biblical Initiative (ABLI) conference to discuss the importance of value-based leadership in Africa. The conference, themed "Value-Based Leadership: Model for Africa," will be held from October 21 to 24, 2024, at the Nigerian Air Force Conference Centre in Abuja. The General Secretary of...
CAC Warns Unregistered POS Operators of Strict Enforcement
The Corporate Affairs Commission (CAC) has issued a stern warning to Point of Sale (POS) operators across Nigeria who have failed to comply with the registration deadline set on July 7, 2024. Despite the large number of POS operators in the country, many have neglected to formalize their businesses. While the CAC commended those who have taken steps to register,...
Fuel Price Surge to Deal Blow to Nigeria’s Manufacturing Sector
The Manufacturers Association of Nigeria (MAN) has raised concerns about the significant impact of the recent fuel price hike on the country's manufacturing sector. The increase in the price of Premium Motor Spirit (PMS) from N568 per liter to N855 is expected to exacerbate the rising cost challenges faced by businesses. The MAN Director General, Segun Ajayi-Kadir, noted that the...
NIMC Reassures Nigerians on NIN-SIM Linkage Despite Subscriber Concerns
The National Identity Management Commission (NIMC) has reiterated its readiness for the NIN-SIM linkage deadline of September 14, 2024, despite concerns raised by subscribers regarding slow speeds and congestion on the NIMC portal. In response to anxieties expressed by the National Association of Telecommunications Subscribers (NATCOMS) President, Adeolu Ogunbanjo, NIMC maintains that its systems for NIN enrolment, verification, authentication, and...
Nigeria Imposes Heavy Fines and Jail Terms for Battery Control Violations
The Federal Government has introduced stringent penalties for individuals and organizations that violate the National Environmental (Battery Control) Regulations in Nigeria. Offenders could face fines of up to N2 million and a six-month jail term. The National Environmental Standards and Regulations Enforcement Agency (NESREA) launched the regulations to address the growing use of batteries as an alternative energy source amid...
