Category: Top Stories

Textile workers demands FG’s support for growth

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Member of the Textile, Garments & Tailoring Senior Staff Association of Nigeria (TGTSSAN) has called on the Federal Government and stakeholders in the textile industries to empower farmers to grow cotton by making funds and seeds available to them.       TGTSSAN in a communiqué signed by its National President, Comrade Ambi Karu, and Vice President, Comrade Babatunde Alamutu, noted that operators in textile industry were faced with perennial challenges, stressing that until those challenges are comprehensively addressed the industry will remain in limbo.   The communiqué was issued…

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FG seeks deadline to minimum wage adjustment parley

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Expressing dismay over the delayed conclusion of the consequential adjustment negotiations since the implementation of a new minimum wage in April, President Muhammadu Buhari has directed that the negotiations be fast tracked and a deadline fixed to ensure workers begin to take home a new pay.       President Buhari had signed a new minimum wage into law on April 18, 2019 however, negotiations between the government and the Joint National Public Service Negotiating Council (JNPSC),  have not only stalled severally, but had broken down due to unresolved differences…

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 ‘Master plan initiatives contributing to Nigeria’s growth’

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    The Securities and Exchange Commission (SEC) has disclosed that the implementation of its 10-year Capital Market Master Plan is already contributing to growth and development of the Nigerian capital market, and by extension, the economy.       This was disclosed by the Acting Director General of SEC, Ms. Mary Uduk, yesterday, during the opening ceremony of a two-day international capital market conference in Lagos.       The event is organised by the commission in collaboration with University of Lagos.       Uduk described the theme…

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Report: Nigerian insurance penetration may hit 3.69% in 10 years

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The Nigerian insurance sector has been projected to increase in penetration from the  current 0.31 per cent to as high as 3.69 per cent in the next 10 years.   According to a report released by Coronation Merchant Bank, a number of factors including favourable capital importation, oil price, transactions in bonds and treasury bills, oil and equities will play significant roles in redefining the fortunes of the sector, which is currently hounded down by low capitalisation.   The report titled, “From the Lagoon to the Ocean: 2019 Nigerian Insurance…

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Orairu: Explore blessings that come with unemployment

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  As most Nigerian youths still get confused over what they should engage themselves in after graduation following difficulties in securing white collar jobs, a multi-tasking Nigerian journalist, author, evangelist and motivational speaker, Mrs. Gift Nnamoko Orairu, has advised them to redirect their energy towards becoming self-employed by taking advantage of opportunities within their immediate environment.       Orairu, who has motivated a lot of youths into different spheres of positive engagements across the country through talk shows and editorial materials, said the perception by a section of people…

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Pilots’ strike: Two BA aircraft grounded in Nigeria

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      The unfortunate strike embarked on by British Airways pilots have been described in the media as “the biggest shut-down in history.”   The action is affecting flights across the globe and is expected to cost British Airways around £100 million in revenue loss and additional costs.   More than 200,000 passengers have been affected so far as hundreds of flights were grounded during the first day of the strike planned by the British Airline Pilots’ Association (BALPA) to last through Tuesday, September 10, then to resume on…

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Importers order N193.5bn raw sugar

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          Importers have ordered for some 1.89 million metric  tonnes of raw sugar valued at N193.5billion ($602.15million) as local production fell by 95 per cent.     The import will be shipped into the country from January 2020, following dwindling local production estimated at 80,000 tonnes.     Statistics provided by International Sugar Organisation revealed that global price of the commodity had reached $321.35 per tonne as at September 2019.     Findings revealed that import since January 2019 was 1. 87million tones.     A…

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109 firms delisted from NSE in 17yrs

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      A total of 109 quoted companies have been delisted from the official list of Nigerian Stock Exchange (NSE) since 2002, according to reports     Findings showed that while some firms were delisted for violating post-listing requirements or due to merger and acquisition, others, however, chose to delist voluntarily when they no longer have the capacity to play in the market.     It was also found out that most of the companies delisted cited harsh economic climate and parent company buy-out as reasons.     Some…

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 8 banks’ staff costs hit N178.71bn in H1’19

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Despite carrying out tough cost cutting measures, including massive lay-offs in recent years, deposit money banks in the country still contended with rising personnel costs in the first half of this year, findings by New Telegraph show.     The H1 2019 results of eight lenders- Zenith Bank, UBA, Access Bank, Guaranty Trust Bank, Fidelity Bank, Stanbic IBTC, FCMB and Wema Bank- for instance, had showed that they accumulated a total of N178.70billion in personnel costs in the first six months of this year compared with the N165.77bilion, which they…

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Africa Prudential tasks cooperative societies on tech inclusion

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Africa Prudential Plc has charged the cooperative movements in Nigeria on digital adaptation in their business, culture and structure to properly position them  in the new digital economy, and unlock the potential of the sector in sustainable economic development in Africa.     The call was made by Obong Idiong, Managing Director/CEO, Africa Prudential Plc, while speaking as at the 5th Cooperative Summit and 2019 International Cooperative Day, held by the Cooperative Federation of Nigeria (CFN) at Jos, Plateau State last week.     While delivering his paper on Cooperatives…

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