Obudu Ranch Resort: N10bn tourist hotspot finally catches Ayade’s fancy in twilight of his administration
BEN EGUZOZIE
October 8, 2020
Ben Eguzozie, in Port Harcourt Governor Ben Ayade, a professor of microbiology, has roughly 36 months to the termination of his final term as chief executive of Cross River, a littoral state with estimated $12.3 billion gross domestic product (GDP). With less than three years to leave office, Ayade, after a week’s stay at Obudu […]
Revealed: How litigation, cannibalisation, asset striping took 23 years off lifespan of Nigeria’s $3.2bn aluminium smelter
BEN EGUZOZIEOctober 6, 2020
Ben Eguzozie Plant left with 27.5% value to reach decommissioning stage Only one of two things left for it: full TAM or dispose Nigeria spending $234.1m annually importing aluminium Global aluminium futures to rise to $250bn by 2026, with a 6.5% CAGR Smelter’s location in the Gulf of Guinea rates it strategic to US, Russia […]
LASAMBUS deploys Visual Earth’s geo-location technology for accurate handling of emergency calls
Saviour AdugbaOctober 6, 2020
Visual Earth, a digital strategy and service experience firm in t h e UK is partnering with the Lagos State Ambulance Services to deliver a more accurate location-based service for the Lagos State first responder service. The service will be powered by USSD using Geo-SMS functions to make sure that the Lagos State Ambulance Service […]
60th Independence: Nigeria agriculture through the Diamond years
Onome AmugeOctober 6, 2020
Onome Amuge THE AGRICULTURAL SECTOR OF ANY economy basically centres around performing the basic role of food production and sustenance, to feed the population and provision of raw materials for industries to convert into finished products. The critical role of food in the sustenance of human life is indispensable, thus conferring on agriculture one of […]
Lagos 3rd Mainland Bridge closure: Counting economic costs, pains of a megacity with decaying infrastructure
Charles AbuedeJuly 29, 2020
Nigeria’s longest bridge, and the second longest in Africa, one of the busiest on the continent, that connects the mainland and the two islands of Victoria Lagos and Lagos Islands, the Third Mainland Bridge, is now partially shut down, for what the federal government said is long overdue repair works to be carried out. The […]
Reopening of Eastern ports: The undercurrents at play
Ben EguzozieJuly 13, 2020
Rivers-Bayelsa Shippers Association 2014 technical document Amaechi moved to get Presidency, NPA approval Lagos ports continued congestion provided the opportunity Onne Port received first-ever Maersk vessel, Calabar got first PMS shipload in 30 years Eastern ports are key components of 2004 Nigeria-Chad bilateral agreement Customs’ new high tariffs may cause the ports to relapse THE […]
Beyond donations: Global Citizen, NSIA – Solidarity Support Fund for a “new normal”
Phillip IsakpaJune 3, 2020
Fund targets raising $50m Long before the coronavirus outbreak in Wuhan, China, in December, 2019, the phrase ‘new normal’ was bandied about across many sectors of human life, especially corporate working life – in finance, in manufacturing, in technology, in entertainment, and everything you could think of. Guess what, life was normal then. But since […]
How hidden China lending risks emerging markets economies
Businessam StaffMarch 31, 2020
About $200 billion of emerging-markets debt owed to China has gone unreported in official statistics in recent years By WSJ A hidden pile of debt threatens dozens of emerging-market countries as the global economy stalls and commodity prices tumble. An estimated $200 billion of emerging-market debt owed to China has gone unreported in official statistics […]
Border Closure: Traders, consumers lament ripple effects on food items
Businessam StaffSeptember 10, 2019
Omobayo Azeez The closure of land borders ordered two weeks ago by the federal government has exerted unintended consequences on the prices and availability of some food items in Nigeria. The prices of such staples as rice, frozen chicken, frozen turkey and groundnut oil, which often find their ways into the country from neighbouring Economic […]
Etiebet’s 2016 letter offers new clues to N2.4bn debt to Access Bank
Businessam StaffMay 5, 2019
10,000MT diesel import supply gone wrong CASTOIL owned supply contract with Mobil But LC opened in favour of Etiebet’sTop Oil Top Oil looked to profit from supply deal A November 9, 2016 letter written by former petroleum minister and All Progressive Congress (APC) chieftain, Don Etiebet, in respect of what is turning out to […]