Aliko Dangote, Nigerian entrepreneur, aims to create 3,000 jobs with the establishment of a truck assembly plant in Ikeja, Lagos. The plant is the result of a partnership between the Dangote group and Sinotruck, a Chinese heavy-duty truck company. “The decision to go into the truck assembly plant project was informed by the need to conserve forex

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The House of Representatives yesterday rejected the Federal Government’s exchange rate of N305/dollar in this year’s budget, saying it would engender huge corruption, with the almost N500/dollar at the parallel market. Members of the Green Chamber also queried the Executive on the domestic borrowing plan of the President Muhammadu Buhari

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China is to invest $40 billion more in Nigeria. Chinese Foreign Affairs Minister Wang Yi broke the news yesterday during a bilateral meeting with his Nigerian counterpart, Mr Geoffrey Onyeama, in Abuja. He said China had already invested up to $45 billion in Nigeria. “Nigeria and China are strategic partners; our relations have been developing well,

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The Federal Government has appointed eight accounting firms to monitor and evaluate the implementation of the 22-point Fiscal Sustainability Plan (FSP) which specified the conditions under which 35 state governments in June last year started accessing the N510 billion Budget Support Facility (BSF). A statement from the Federal Ministry of

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The Senate yesterday resolved to ask the Customs to suspend action on its policy to ban IMPORTATION of vehicles through land borders, which was to take effect on January 1. Senate’s resolution followed a motion by Barau Jibrin (Kano North) and five others. Jibrin drew members’ attention to the Federal Government’s policy to stop car

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The Minister of Finance, Mrs Kemi Adeosun, yesterday said the $300 million Diaspora bond approved by the National Assembly would be rolled out in March. Mrs. Adeosun spoke yesterday when the Senior Special Assistant on Foreign Affairs and Diaspora, Mrs Abike Dabiri-Erewa, visited her in Abuja. “The Diaspora bond which the National assembly

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The Tin-Can Island Port 2 Customs Command on Monday said it had generated N8.12 billion between January and December 2016. The Public Relations Officer of the command, Mr Godwin Andishu, gave the figure in a statement in Lagos. Giving a breakdown of the figure, Andishu said N349.07 million was realised in January; N605.48

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