Business

Every Nigerian owes China N15,000 – Political analysts

For the N3 trillion Nigeria has received from China in the last four years, every Nigerian owes China N15,000 in debt. That’s just N3,000 short of minimum wage, Daily Trust reports. The debt comes from two huge tranches of aid from China: $3.1 billion in 2014 and $6 billion for infrastructure in the last three years, according to political analyst Theophilus Abbah.   Simple ...

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Chinese billionaire, Richard Liu, arrested for sexual assault

Richard Liu, the Chinese billionaire founder of JD.com, has been arrested in Minnesota after being implicated in a case of sexual misconduct. The chief executive of the e-commerce giant was arrested late on Friday and was freed Saturday afternoon, CNBC reports.   The company, in a statement released on Chinese social media Weibo, said the allegations made against the billionaire were false. The local ...

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South Africa slips into recession against forecasts

                              The government of President Cyril Ramaphosa was dealt a severe blow on Tuesday, as the economy of South Africa slipped into recession.   South Africa’s economy shrunk 0.7 percent in the second quarter of negative growth, which was driven by contractions in agriculture, transport, trade and manufacturing industries. The ...

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Man reveals he makes N180k monthly from charging phones

A Nigeria man has revealed that he makes N180k monthly from charging phones for people in Lafia, Nasarawa state.   The middle-aged business man, Ibrahim Usman, who operates a telephone charging outfit in Lafia, says he makes N180,000 monthly on charging people’s phones with a generator and solar power, and that’s really awesome.   Speaking with the News Agency of Nigeria (NAN) in ...

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Nick Jonas father’s company files for bankruptcy

  Popular singer, Nick Jonas might be doing great, but his father Paul Jonas’ company just filed for bankruptcy. Priyanka Chopra may be on cloud nine after her engagement and roka ceremony with popular Hollywood singer/actor Nick Jonas, but here is some bad news for PeeCee and her future in-laws.   According to a report in TMZ, Nick Jonas’ father and Priyanka Chopra’s ...

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Manufacturing is key to economic growth, development- Dangote

  Executive Director of the Dangote Group, Hajiya Halima Aliko-Dangote has urged millennials in Nigeria and across Africa to diversify from service-oriented enterprises to manufacturing and agriculture in a bid to fast-track the development of the continent and better life for its nationals. Halima Dangote said that the economic realities around the world have shown that the way to go is ...

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Court restrains MultiChoice Nigeria from increasing DSTV subscription rates

  Federal High Court in Abuja has restricted MultiChoice Nigeria from implementing it’s recent increase in DSTV subscription rates. The Judge who gave the ruling, Justice Nnamdi Dimgba granted the injunction restricting the television company from implementing the new rates on Monday. The court also placed restriction on the company from any other conduct capable of interfering with the regulatory process of ...

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FG to give loans to two million traders without collateral

The Federal Government of Nigeria has inaugurated a new initiative to empower two million petty traders across the country between now and the end of the year.   The initiative called the Trader Moni is meant to further enlarge the present administration’s financial inclusion agenda for all Nigerians regardless of social class and economic status. The Senior Special Assistant to ...

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Uganda looks to Tanzania for gas

  Uganda is now formally engaging Tanzania to import natural gas that will be used as a reducing agent in the iron and steel industry. “We are discussing with Tanzania if we can make use of their gas,” Ms Irene Muloni, the Energy minister, told Parliament’s Natural Resources Committee. “Maybe as we build the pipeline for crude [oil], we could ...

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CBN to disburse lower currency denominations

The Central Bank of Nigeria, CBN, has begun a process that would make the country’s lower currency denominations available to Nigerians. The Assistant Director, Currency Operations Department of the CBN, Mr. Benedict Maduagwu disclosed this said the apex bank has advised the marketers to open a corporate account with commercial banks and demand for lower denominations from their respective banks. ...

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Update- State to rescue 80 Kenyans stranded in Qatar

The government is working on a plan to repatriate more than 80 Kenyans stranded in Qatar for lack of travel documents and air tickets after falling out with their employers. The Kenyans, most of them recruited by Mombasa-based travel agencies, are said to be languishing in the Arab country after they protested over working conditions. The agencies have since shut ...

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Kenyans stuck in Qatar ask for help

The families of more than 70 Kenyans stranded in Qatar because of lack of travel documents and air tickets to return home after falling out with their employers are now asking the government to facilitate their safe return. Mr Randani Mwachili is among those who paid Sh120,000 to different recruiting agencies in Kenya to secure a job as a cleaner ...

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German Court Awards Farmer $1 Million for 2000-Year-Old Bronzed Horse Head Found in His Well

A lucky discovery made nearly a decade ago just got even luckier for one German farmer. In 2009, archaeologists excavating a former Roman settlement on the man’s farm in Lahnau, Germany found a 2000-year-old bronzed horse head, and now Artnet reports that the property’s owner has been awarded roughly $904,000 for the artifact. The gold leaf–covered head, which weighs about ...

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Rare blue diamonds may be Earth’s deepest secret

The Hope Diamond, a rare blue diamond that is one of the world’s most famous jewels, has had a complicated history, passing through the hands of monarchs and bankers and heiresses and thieves before landing for all to see at a Washington museum. The geological history of blue diamonds is even more complex, according to research published on Wednesday examining ...

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EFCC arraigns two for Illegal oil deal in Lagos

EFCC on Wednesday, July 18, 2018 arraigned the duo of Omosehin Ipinle and Nsikak Friday before Justice Muslim. S. Hassan of the Federal High Court sitting in Ikoyi, Lagos on a three-count charge bordering on dealing in Automotive Gas Oil (AGO) without appropriate licence, an offence contrary to  the Miscellaneous Offences Act, Cap MM17 Laws of the Federation of Nigeria ...

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Oprah Winfrey says she bought a private plane after a rude encounter with someone at the airport

Oprah Winfrey says she had an encounter with a rude fan at the airport in the ’90s, and that led her to use a private plane for travel. Winfrey, who is on the cover of British Vogue’s August issue, spoke with the magazine’s Editor-in-Chief Edward Enninful for an interview. When asked about her “greatest luxury,” the actress and humanitarian said ...

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Air Peace all-female flight gets rousing ovation in Lagos, Abuja, Owerri

Air Peace all-female flight crew – Captain Sinmisola Ajibola (4th left), Senior First Officer Quincy Owen (2nd left), SEP Instructor Rosemary Uagbor (3rd right), Cabin Executive Chidimma Chimezie (2nd right), Cabin Executive Opakirite George (left) and B1 Engineer, Justina Etim (Right) with the carrier’s Chairman/CEO, Mr. Allen Onyema and Vice Chairman, Mrs. Alice Onyema at the General Aviation Terminal of the Murtala Muhammed ...

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Garba Shehu: Nigerians Have More Electricity Than They Can Consume

Garba Shehu, Senior Special Assistant to the President on Media and Publicity, says Nigerians have more electricity than they can consume. He said this while speaking to journalists in Abuja on Monday. He said the current Federal Government is building infrastructure across the country, and every state has at least two federal roads currently in construction. “We have more electricity ...

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Uganda’s electricity governance ranked the best in Africa

Kampala- Uganda has Africa’s best electricity regulatory system, according to the African Development Bank (AfDB’s) 2018 Electricity Regulatory Index (ERI) report. Second is Namibia, tailed by Tanzania, Nigeria, Ghana, Malawi, Kenya, Cameroon, South Africa, Togo, Senegal, Côte I’voire, Lesotho, Zimbabwe and the Gambia respectively. “The implication of this result is that the impact of the regulator’s actions and decisions for ...

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