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Articles by Zeenat Sambo
Between 2024 Economic Situation and 2025 Development Permutation, by Zeenat Sambo
Between 2024 Economic Situation and 2025 Development Permutation By Zeenat Sambo Nigeria’s economic performance in 2024 was marked by gains and losses in both micro and macro-economic areas.
Dangote Refinery Crude Import Resumes after Three Months - Economic Confidential
Dangote Refinery Crude Import Resumes after Three Months The Dangote Petroleum Refinery has recommenced the purchase of crude oil from the United States in its ongoing efforts to ramp up oil production and enhance its refining capacity. The new purchase comes after a three-month hiatus in purchasing crude from foreign countries, focusing instead on domestic supply.
NUPRC Assures IOCs not Exiting Nigeria
NUPRC Assures IOCs not Exiting Nigeria The Nigerian Upstream Petroleum Regulatory Commission has said that no international oil company is leaving Nigeria despite their divestments. NUPRC’s Chief Executive Officer, Gbenga Komolafe, described the recent divestments by IOCs in the oil sector as “portfolio rationalisation”.
MPR Hike: UBA, Zenith, 17 Other Banks Pay 8.18% Interest on Savings
MPR Hike: UBA, Zenith, 17 Other Banks Pay 8.18% Interest on Savings Aligning with the Central Bank of Nigeria’s (CBN) recent monetary policy adjustment, Nineteen deposit money banks are now offering an 8.18 percent interest rate to customers for their savings. Commercial banks are mandated to provide a minimum interest rate of 30 percent of the Monetary Policy Rate (MPR) on customer deposits.
NGX Sustains Bullish Trend as Investors Gain N167bn - Economic Confidential
NGX Sustains Bullish Trend as Investors Gain N167bn The Nigerian equity market recorded N167bn gain on Wednesday buoyed by AustinLaz & Company, Tantalizers, Wapco, and other gainers. The All-Share Index and market capitalisation rose by 0.26 per cent, to close at 98,227.50 points N59.5tn respectively. This brought the market’s year-to-date gain to 31.37 per cent, despite a 0.72 per cent loss over the past four weeks.
Again, British Court Grants Chinese Firm Right to Seize Nigerian $25m Assets
Again, British Court Grants Chinese Firm Right to Seize Nigerian $25m Assets A court in the British Virgin Islands has, again, granted Zhongshan Fucheng Industrial Investment Co. Ltd, a Chinese firm, the authority to seize another £20 million ($25 million) from Nigeria’s foreign denominated assets over an Ogun trade zone deal that fell through in the early 2000s under the administration of Ibikunle Amosun, the then governor of Ogun state.
The Petrol Paradox: Understanding the Real Cost of Fuel in Nigeria By Muhammed S. Ibrahim
The Petrol Paradox: Understanding the Real Cost of Fuel in Nigeria By Muhammed S. Ibrahim For some time, the price of petrol in Nigeria has been a subject of heated debates. Some insist that Nigerians enjoy some of the cheapest petrol in the world while others argue otherwise. Supporters of the claim of cheap petrol almost always rely on comparisons like: A litre of petrol in Ghana costs $0.95, in South Africa $1.19, in Zambia $1.47, in Benin $1.13, while in Nigeria, it is only $0.67.
FAAC Shares N1.411tr to FG, States, LGAs for October
The Federation Account Allocation Committee (FAAC) has distributed N1.411 trillion among the three tiers of government for October 2024. This was disclosed during the committee’s November meeting held in Bauchi, chaired by the Accountant General of the Federation, Dr. (Mrs.) Oluwatoyin S. Madein. The total distributable revenue was drawn from a gross collection of N2.668 trillion, comprising statutory revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), and exchange difference.
NUPRC: Oil Reserves Drop By 50bn Barrels As Investments Decline
According to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the country’s oil reserves have declined by 50 billion barrels over the past 14 years. According to the NUPRC, oil reserves shrank from 38 billion barrels to 37.50 billion barrels between 2008 and 2023. In a publication, the NUPRC blamed this on the tremendous decline of exploration activities due to a lack of investment by exploration and production companies.
Tax Reform Bill: Attribution before Derivation
Tax Reform Bill: Attribution before Derivation I have been studying this tax reform bill for sometime now but my worry is heightening by the day. The truth is that Tinubu’s tax experts who worked on the bill has inputed so much into the bill which will put Lagos and Ogun into economic advantage thereby short changing and extorting other states . And our governors and legislators have not set up tax study groups or even hire Global tax experts to look into this. Let us take VAT as example.
Equity Market Receives Boost Of N136bn From Lafarge WAPCO, Others
Lafarge WAPCO, a key stock, led a positive performance on Tuesday, lifting the Nigerian equity market to a gain of N136bn. The market capitalisation of the Nigerian Stock Exchange increased by 0.23 per cent to close at N59.4tn, while a total of 333,948,810 shares were traded in 9,187 deals, with a market turnover of N6.42bn. This reflects a 19 per cent decline in volume compared to the previous trading day, but a 20 per cent increase in turnover and a two per cent rise in the number of deals.
NIMASA: Vessel Funds Are All Accounted For
According to the Nigerian Maritime Administration and Safety Agency (NIMASA), the $350m accumulated under the Cabotage Vessel Financing Fund is intact and currently in the Single Treasury Account of the Central Bank of Nigeria. The agency reacted to a recent media publication that alleged that funds had disappeared from the CVFF account.
Nigeria Computer Society Shortlists Olusegun Olugbile for Cybersecurity Award at NITMA
Nigeria Computer Society Shortlists Olusegun Olugbile for Cybersecurity Award at NITMA The Nigeria Computer Society (NCS) has announced the shortlist for the prestigious National Information Technology Merit Awards (NITMA), featuring Olusegun Olugbile, President of the Global Network for Cybersolution, as a Finalist in the Cybersecurity Advocate category.
Why We Must Address Inherent Injustice in Present VAT Regime - FIRS Boss
The Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, has described the allocation of 70% of value-added tax (VAT) proceeds to Lagos, Rivers, and the Federal Capital Territory (FCT) as unfair to the remaining 34 states. Speaking during an interactive session with members of the House of Representatives on the proposed tax reform bills, Adedeji revealed that he signed off 42% of October VAT proceeds to Lagos State last Friday.
Imaan Sulaiman-Ibrahim: Pioneering Change in Nigeria's Women Affairs Ministry, by Rahma Oladosu
Hon. Imaan Sulaiman-Ibrahim’s appointment as Minister of Women Affairs signals a new chapter for a ministry that has struggled to fulfill its potential in recent years. With unwavering determination, she is poised to bridge the gender gap, empower women, and ensure the protection of their rights.
President Tinubu Addresses World Leaders At G20 Summit In Brazil
Nigeria’s President, Bola Ahmed Tinubu has addressed world leaders at the ongoing 19th Heads of State and Government Summit of the Group of 20 (G20) in Rio de Janeiro, Brazil. The President of Brazil, Lula da Silva, is hosting the 2024 G20 summit, having held the group’s rotating presidency since December 21, 2023. His tenure ends on November 30.
Modi’s Visit: What are the Potential Gains of the Nigeria-India Partnership? By Zeenat Sambo
Modi’s Visit: What are the Potential Gains of the Nigeria-India Partnership? By Zeenat Sambo In a strategic move to attract investment from key global economies, Nigerian President Bola Ahmed Tinubu has described Indian Prime Minister Narendra Modi’s visit as a pivotal step toward reinforcing diplomatic trade ties, fostering foreign investment, and strengthening bilateral cooperation.
FG Lauds Iwo College of Education for Producing National Best Student
FG Lauds Iwo College of Education for Producing National Best Student By Zeenat Sambo The Minister of State for Education, Dr Yusuf Tanko Sununu, has lauded the leadership of the Federal College of Education Iwo, Osun State for producing the best student in the country’s College of Education system.
HUNGER PROTEST: Business Centres Locked, Deserted in Lagos
HUNGER PROTEST: Business Centres Locked, Deserted in Lagos By Zeenat Sambo Traders in many parts of Lagos State have locked up their businesses as protesters begin demonstration at the government Secretariat in the Alausa Area of the state today. As of the time of filing this report, popular locations such as Ojodu-Berger, Ikorodu axis and many parts of the states looked deserted as residents remained indoor.
SAEMA/SCA 2023: NIPR President Inaugurates 2024 Spokespersons Award Committees - Economic Confidential
SAEMA/SCA 2023: NIPR President Inaugurates 2024 Spokespersons Award Committees By Zeenat Sambo The President of the Nigeria Institute of Public Relations (NIPR), Dr. Ike Neliaku, has inaugurated two committees on the forthcoming first edition of the Nigeria National Spokespersons’ Awards (NNSA) scheduled for March 2024.
Startup Engagement Portal: Bosun Tijani’s agenda for digital entrepreneurship | The Guardian Nigeria News - Nigeria and World News
The interactions and connections that individuals and organisations have in the digital space in Nigeria have become interesting prospects for startups that are able to thrive due to the enabling environment that has progressively developed over the years. It is impressive how the engagement has driven a lot of youth to become smart entrepreneurs as they leverage technological tools such as online markets, AI delivery mechanisms and services, etc.
Startup Engagement Portal: Pushing Bosun Tijani’s Agenda for Digital Entrepreneurship
Startup Engagement Portal: Pushing Bosun Tijani’s Agenda for Digital Entrepreneurship By Zeenat Sambo The interactions and connections that individuals, groups, or organisations have online and in digital environments in Nigeria have become interesting prospects for startups that are able to thrive due to the enabling environment that has progressively developed over the years.
SPECIAL REPORT: Pegi; Abuja Community Where Bad Road Fuels Murder, Kidnapping, Rape
SPECIAL REPORT: Pegi; Abuja Community Where Bad Road Fuels Murder, Kidnapping, Rape By Zeenat Sambo Ordinarily, a visit to communities within the Federal Capital Territory (FCT) should evoke the feeling that one is in the capital of Nigeria, the Seat of Power. However, a recent trip by our reporter to Pegi, a community situated in Kuje Area Council of Abuja was a nightmare.
With N651.1bn, Lagos IGR for 2022 Surpasses 25 States Put Together
With N651.1bn, Lagos IGR for 2022 Surpasses 25 States Put Together By Zeenat Sambo The Lagos state government generated a total sum of 651.1 billion naira in 2022 which surpassed the total figure generated by four geo-political zones of 25 states put together. According to a report released by the National Bureau of Statistics (NBS) on Monday, the Lagos figure was higher than the combined figures of North Central, Northwest, Southeast and Northeast which was N639.3bn.
JUST IN: FG Proposes N26trn for 2024 Budget
The federal government is proposing N26trn as the 2024 budget which is expected to be submitted to National Assembly before December, 31. Minister of National Planning and Budget, Alhaji Atiku Bagudu, announced the budget proposal at the end of the Federal Executive Council meeting held on Monday, at the State House, Abuja.
Nigerian Women in Negative Spotlight: A Call for Change By Zeenat Sambo
Nigerian Women in Negative Spotlight: A Call for Change By Zeenat Sambo All over the world, the media plays a crucial role in promoting gender equality and women’s rights as well as protecting women. It is undoubted that the media shapes public perceptions, influences social norms and drives conversations on important issues across the globe. Women’s rights and gender equality are interwoven and the media takes responsibility for both of them.
NIPOST Staff Protest Odeyemi’s Appointment as CEO
Some members of staff of the Nigerian Postal Service (NIPOST) have shut down the head office of the agency in Abuja to protest against the appointment of Tola Odeyemi as Chief Executive Officer/Post Master General. President Bola Ahmed Tinubu had last week effected some changes in the leadership of communication agencies including NIPOST. Tinubu had approved the appointment of Odeyemi as the CEO of NIPOST through a statement issued by the Presidential spokesman, Ajuri Ngelale.
Dollar Supply Rises after CBN Lifts Forex Ban on 43 Items
Dollar Supply Rises after CBN Lifts Forex Ban on 43 Items By Zeenat Sambo Dollar supply in Nigeria soared after the Central Bank of Nigeria (CBN) scrapped restrictions on buying foreign currency required to import 43 items, in a bid to stem the naira’s 40 per cent rout this year. According to Chapel Hill Denham, a Lagos- based investment bank, liquidity at the investors and exporters window increased more than five-fold to $407.7 million on Thursday after the central bank’s announcement.
Adebayo Adelabu: From Perennial Guber Candidate to Likely Budget Minister,By Zeenat Sambo, Safina Abbati
Adebayo Adelabu: From Perennial Guber Candidate to Likely Budget Minister,By Zeenat Sambo, Safina Abbati After a long wait by Nigerians, the Senate last Thursday revealed President Bola Ahmed Tinubu’s 28 ministerial nominees, before the elapsing of the constitution-mandated 60 days expected of Mr. President and Governors to form their cabinet, after assuming office.
Zacheaus Adedeji: Meet President Tinubu's Revenue Chief By Abdullahi W. Yunusa
Zacheaus Adedeji: Meet President Tinubu’s Revenue Chief By Abdullahi W. Yunusa Hours ago, the official status of Mr. Zacch Adedeji who assumed office as the 5th substantive Executive Secretary of the National Sugar Development Council (NSDC), in March 2021, has changed for good, following his appointment as Special Adviser to President Bola Ahmed Tinubu on Revenue.
A Case For Medical Journalism, by Salisu Na'inna Dambatta
A Case For Medical Journalism, by Salisu Na’inna Dambatta The practice of journalism has deep and firm roots in Nigeria: it is like a big tree with many branches. Some of the branches focused on sports, politics, finance and the economy, aviation, energy, entertainment, education, agriculture, maritime services and even journalism itself. However, there is no branch of journalism that is focused on reporting the medical and healthcare sector.
Economy: Tinubu's Top Eight Game Changers By Zeenat Sambo
Home Business Economy: Tinubu’s Top Eight Game Changers By Zeenat Sambo Economy: Tinubu’s Top Eight Game Changers By Zeenat Sambo President Bola Ahmed Tinubu came to office with a pedigree of a first-rate accountant who also understands how the economy works and knows the best Nigerian brains from across the world to help him deliver on his vision.
FG Inaugurates NDIC Board, Charges Members on Service Delivery
FG Inaugurates NDIC Board, Charges Members on Service Delivery By Zeenat Sambo The Minister of Finance, Budget and National Planning, Zainab Ahmed, has charged the new Board of Directors of the Nigeria Deposit Insurance Corporation (NDIC) to support policies and programmes of the management that are geared towards meeting its mandate.
Africa Needs Continuous Economic Growth, Infrastructure, Dynamic Civil Service - Bello-Osagie Original
Africa Needs Continuous Economic Growth, Infrastructure, Dynamic Civil Service – Bello-Osagie By Zeenat Sambo African leaders have been urged to develop stable infrastructure in order to reduce the high cost of production deterring the populace from leveraging the continent’s huge business potential. This call was made by a frontline business leader and entrepreneur, Hakeem Belo-Osagie.
Managing Nigeria's Debt Burden: An Agenda for Incoming Administration, by Zeenat Sambo
Managing Nigeria’s Debt Burden: An Agenda for Incoming Administration, by Zeenat Sambo Over the past few decades, Nigeria has experienced significant economic growth and development, but it has also experienced a growing debt burden, which has been a major concern for policymakers and analysts. In the case of shortfall in government revenues, governments all over the world borrow.
2023: How INEC would Deploy Technology for Credible Elections in Nigeria
2023: How INEC would Deploy Technology for Credible Elections in Nigeria By Abbas Badmos, Zeenat Sambo and Fom Gyem Technology, in recent years, has played a vital role in shaping the electoral process in Nigeria. The adoption of cutting-edge technologies and initiatives by the Independent National Electoral Commission (INEC) has reaffirmed its commitment to deliver a free and fair election without interference.
How Technology is Aiding Credible Elections in Nigeria
How Technology is Aiding Credible Elections in Nigeria By Abbas Badmus, Zeenat Sambo and Fom Gyem TECHDIGEST – Technology, in recent years, has played a vital role in shaping the electoral process in Nigeria. The adoption of cutting-edge technologies and initiatives by the Independent National Electoral Commission (INEC) has reaffirmed its commitment to deliver a free and fair election without interference.
Despite extension, Nigerians can’t withdraw old, new notes - Nigeria - The Guardian Nigeria News - Nigeria and World News
• ATMs empty, banks limit old notes withdrawal to N10,000 • Phobia for old notes cripple businesses in markets • DSS intercepts syndicates selling new notes, bank officials implicated • Doguwa: I suspect Emefiele misled Buhari Despite extension of deadline for the circulation of old N1,000, N500 and N200 notes to February 10, bank customers continue to face frustration, as ATMs were largely empty across the country.
To vote APC in 2023, you must first hate yourself (I)
With less than one month to Nigeria’s general election, one political party ought not to be on the ballot at all. That is the ruling All Progressives Congress. If dignity was of any concern to APC or if it had any sense of character or shame whatsoever, it would have called or written to the electoral commission sometime in the past two years as Nigerians began to turn their political attention toward 2023 and requested to be taken out of participation.
Gender Freeze | Council on Foreign Relations
From a particular vantage, Nigerian democracy, while not in the finest of fettle, is more or less on the right track. Take elections for instance. True, they have all been contentious, and some have certainly been freer and fairer than others. But they have been on schedule, and have facilitated the transfer of political power.
Scarcity in the midst of plenty: A good day tomorrow?
We have seen that those in authority have tried their best but whether they deserve to be commended or not remains a duty for Nigerians to perform. At the dawn of the New Year 2023, Nigeria has in its bowl double-digit inflation, humongous debt, insecurity, 133 million poor people with multidimensional poverty, coupled with slow Gross Domestic Product (GDP) growth. What is the situation going to be like keeping in mind geopolitical activities, looming global recession and resurgence of COVID-19?
ICYMI: Strategic plans, restructuring, appointments and everything else that happened in corporate Nigeria last week
Welcome to Nairametrics’ Corporate News Roundup for the week ended January 21, 2023. This is a summary of the major company news stories from the past week, brought to you courtesy of Quidax. Nigerian companies have been announcing their strategic growth plans for the New Year. While Access Holdings is looking to raise capital to fund its new strategy, Chams HoldCo got a new licence even as Dangote Cement appointed a new CEO to lead the company. These and more in today’s roundup. Let’s begin.
Nigeria: WAEC Sanctions 13 Secondary Schools Over Exams Malpractice
The West African Examinations Council (WAEC) has sanctioned 13 Secondary Schools in Gombe State over cases of examination malpractice. The director of examinations in the Gombe State Ministry of Education, Ali Yaya, disclosed this during a meeting with principals of secondary schools in the state. He said the development was a major setback in the ministry’s effort to improve the education sector in the state.
Obasanjo insists Obi better than other candidates
Former President Olusegun Obasanjo has said that only an “unpatriotic and bad Nigerian” would vote for a candidate with bad character.
Stop Celebrating People With Doubtful Sources Of Wealth
For Nigeria to take its rightful place among the comity of nations, Nigerians must edify, protect and promote the class of persons of high integrity, personal and professional achievements. Kwara State governor, AbdulRahman AbdulRazaq, made this recommendation in a key note address he presented at the 12th convocation of Fountain university, Osogbo, Osun State at the weekend.
TETFUND gives University of Ibadan Research Fund - Voice of Nigeria
The University of Ibadan has said no fewer than 14 proposals submitted from the institution are to be funded by the Tertiary Education Trust Fund (TETFUND) in the 2021 National Research Fund, to the tune of N342 million. The Deputy Vice-Chancellor (DVC), of Research, Innovation and Strategic Partnerships, Professor Oluyemisi Bamgbose, made the disclosure, on Thursday, while distributing letters of award to the TETFUND National Research Fund Grantees.
The needless attacks on Pantami over NITDA Bill | The Guardian Nigeria News - Nigeria and World News
The Minister of Communications and Digital Economy, Professor Isa Ali Ibrahim Pantami has suffered more than a fair share of abuses from ignorant folks for no other reason other than his determination to leave the digital space in Nigeria far better than he met it.
The Needless Attacks on Pantami over NITDA Bill, by Zeenat Sambo
The Minister of Communications and Digital Economy, Professor Isa Ali Ibrahim Pantami, has suffered more than a fair share of abuses from ignorant folks for no other reason other than his determination to leave the digital space in Nigeria far better than he met it.
2023: Utomi worries over incivility, intolerance
By ADELEYE ADEYEMI LAGOS- Prof. Pat Utomi, a Nigerian Political Economist has expressed worries about alleged growing incivility and intolerance ahead of the 2023 general elections. Utomi, Convener of The BIG-TENT Coalition of Political Parties, Social Movements and Civil Society Organisations for Obi-Datti made this known at a news conference on Friday in Lagos.
Collective engagement towards achieving a connected world, By Zeenat Sambo
Over the years, it has been heartwarming to observe how the Federal Government, tech enthusiasts, stakeholders, and players in the tech innovation ecosystem are advocating for digital literacy and inclusion to ensure Nigerians are part of the digital economy agenda. However, the significant number of unconnected people remains a concern for tech industry stakeholders in Nigeria. It is on this basis that the Minister of Communication and Digital Economy, Prof.
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