Business

Nigeria needs a competent customs service, not border closure

About two months ago, the Nigerian government announced the closure of the country’s land borders to all goods. According to the country’s Comptroller-General of the Customs Service, Hameed Ali, this was done to stem the influx of smuggled goods, especially rice and tomatoes, into the country.

Beijing's new $63 bln mega-airport begins international flights

Beijing's new $63 billion Daxing airport began its first scheduled international flights on Sunday as it ramped up operations to help relieve pressure on the city's existing Capital airport.

Shaped like a phoenix - though to some observers it is more reminiscent of a starfish - the airport was designed by famed Iraqi-born architect Zaha Hadid, and formally opened in late September ahead of the Oct. 1 celebrations of the 70th anniversary of the People's Republic of China.

Cameroon calls for freeze on Douala port contract over Bollore court case

Cameroon's president has ordered its main Douala port to suspend contract talks with Swiss firm Terminal Investment Limited (TIL) until the conclusion of a court case brought by France's Bollore, according to a letter seen by Reuters.

TIL was chosen to renovate and manage the Atlantic port in September after Bollore, which had managed the hub since 2015, was eliminated earlier in the bidding process as it sought to renew its contract. It is contesting the decision in the Cameroonian courts.

2020 budget: We are sticking to deadline of defence – Gbajabiamila

The Speaker of the House of Representatives, Mr Femi Gbajabiamila has said the house would stick to the deadline of Oct. 29 given to Ministries, Departments and Agencies (MDAs) to conclude their budget defences for 2020.

Gbajabiamila said this while addressing newsmen on Wednesday.

How states blew N2.67tr in 2018, by BudgIT

Nigerian states expended a whopping N4.319 trillion to fund their operations in the 2018 fiscal year, according to a survey by BudgIT, a fiscal governance organisation.

According to the survey released in Abuja yesterday, of the amount, recurrent spending gulped N2.67 trillion, while a paltry N1.648 trillion was devoted to capital projects.

Scam! ERA warns against Lagos govt’s plot to begin water privatisation

.Says it’s scam, calls on residents to reject plan
By Valentine Amanze

Rich Chinese outnumber wealthy Americans for first time

The number of rich Chinese has surpassed the count of wealthy Americans for the first time as both countries keep churning out millionaires, a study by Credit Suisse showed.

The Swiss bank's annual wealth survey released on Monday found 100 million Chinese ranked in the global top 10% as of the middle of this year versus 99 million in the United States.

Albni advocates sack of minister over comments on recovery of $62b from IOCs

THE Accountable Leadership for Better Nigeria Initiative, Albni, has called on President Muhammadu Buhari to sack the Minister of State for Petroleum Resources over his comments on “why FG can’t recover $62 Billion from International Oil Companies”.

Africa's biggest oil producer, Nigeria, can't beat fuel-imports addiction

Africa’s biggest oil producer is trying to get its refineries working in an attempt to wean itself off imported fuel. Yet again.

Over the past 12 years, Nigeria tried and failed four times to crank up its aging and unprofitable crude-processing plants. Now the state-run energy company is giving it another shot -- a move that, if successful, could end the nation’s reliance on fuel imports. However, the country’s recent track record means there’s skepticism about the latest effort.

Miyetti Allah constitutes 15-member committee to fish out criminal members

Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN) Nasarawara chapter has constituted a 15-man committee to fish out criminal elements among its members.

Its chairman, Mohammed Hussaini, disclosed this during a meeting with Fulanis on Saturday in Keana Local Government Area of the state.

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