Category: Economy

By Advocate News Online. A European owned energy company with the knack for pursuing cheap assets across Africa is at it again. This time, we gathered reliably that its resolve is to stop at nothing until the Nigerian asset is craftily acquired. The same company that acquired assets in Niger and Cameroon a few years back is fiercely gunning for a Nigerian company with a subsidiary in one of the popular tax haven Islands and would stop at nothing…

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Agbara Industrial Park. Focus.   MANUFACTURERS have since inception searched for suitable locations to produce their wares effectively. In the early 70´s the visionary entrepreneur, the late Chief Adeyemi Lawson, created West Africa’s premier industrial hub in Agbara, just 26 km west of Lagos. Rapidly this industrial enclave became the hotspot for a wide range of manufacturing companies, attracting local and international players to Agbara Industrial Park. With a 454 Ha development, it is located between the two port…

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By Editor.  President Muhammadu Buhari on 7th August, 2020 assented to the Companies and Allied Matters Bill, 2020. This is the first reform of CAMA, one of the most important pieces of business legislation in Nigeria, since it was first introduced 30 years ago.  Changes that the revised Bill introduces include the following (not an exhaustive list): The revised Act allows single member/shareholder companies to be incorporated in Nigeria – before now the minimum number of shareholders was two (2)….

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NNPC GMD, Mele Kyari. By Editor. Former Deputy National Publicity Secretary of the All Progressives Congress (APC), Comrade Timi Frank, has called for the immediate sack of the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Engr. Mele Kyari, over his complicity in the alleged $2.5billion stolen crude oil sold in China. An online news platform recently revealed that about 48 million barrels of Nigeria’s Bonny Light Crude, valued at $2.5 billion was stolen, sold in…

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By Editor. Following the controversy generated by the leading opposition party, the People’s Democratic party, PDP, over the alleged acquisition of Keystone Bank and Etisalat (now 9Mobile) by late Alhaji Isa Funtua, the father-in-law of the CEO of Asset Management Company of Nigeria, AMCON, Ahmed Kuru, President Muhammadu Buhari is said to have ordered probe into the alleged fraud.A highly placed source at the headquarters of the Economic and Financial Crimes Commission, EFCC said that the President was thoroughly…

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Lanre Alabi, Coordinator of NIDA Awards. By our Correspondent. Stakeholders comprising policy makers, corporate experts, venture capitals, development agencies, private sector operators and others will gather in Lagos on Thursday, 5th December to explore creative and enduring options to infrastructure funding in Nigeria. According to the coordinator and a chief strategist, Mr, Lanre Alabi, former Executive Vice Chairman of the Nigerian Communications Commission (NCC), Chief Earnest Ndukwe, will chair the NIDA Award Nite and lead other discussants including the…

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