Cadbury Nigeria to Sell 402m Shares over $7.7m Debt

Cadbury Nigeria has offered to give an additional 402 million shares or 4.42 percent equity in exchange for the $7.7 million (N7.03 billion) debt owed to Cadbury Schweppes Overseas Limited. Cadbury Schweppes Overseas Limited, controlled by Mondel–z International Inc, is a major investor in Cadbury Nigeria with a 74.97 percent stake. In a statement on Tuesday sent to the Nigerian Exchange Limited, NGX Cadbury Nigeria said it borrowed $23 million from Cadbury Schweppes to settle outstanding third-party loans obtained to fund raw material imports and other input costs.

Tinubu Appoints Desmond Akawor as RMAFC Boss

President Bola Tinubu has approved the appointment of Ambassador Desmond Akawor to serve as a Federal Commissioner of the Revenue Mobilization, Allocation and Fiscal Commission (RMAFC), pending the confirmation of the Nigerian Senate. 

New Year: President Tinubu Promises To Boost Food Security

President Bola Tinubu has promised to among other things boost food security in the country in 2024. Tinubu made the promise in his New Year address to Nigerians on Monday. The President stated that the government would cultivate about 500,000 hectares of farmlands to combat hunger in the country. “To ensure constant food supply, security, and affordability, we will step up our plan to cultivate 500,000 hectares of farmlands across the country to grow maize, rice, wheat, millet and other staple crops,” Tinubu said. President Tinubu emphasised that his government launched dry season farming with 120,000 hectares of land in Jigawa State last November under our National Wheat Development Programme. He said the economic aspirations and the material well-being of the poor, the most vulnerable and the working people shall not be neglected.

NNPCL Guarantees Availability Of Petrol For The Remainder Of 2023

Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari has declared that there would be no shortfall in supply of petroleum products again this year. He gave the assurance on Wednesday at a meeting with the leadership of the Senate.

Nigeria’s Stock Market Ends 2023 Bullish Despite Challenges

In the exchange’s 39-year history, this year is ranked as the ninth (9th) most successful year after the Nigerian Exchange (NGX), for the first time in three (3) years closed on a 45.9% gain in its All Share Index (ASI) despite grappling with high inflation, a depreciating exchange rate, and ongoing security concerns. The NGX’s rally this year is its third-best showing in the last decade, only trailing the 50% rise in 2020 and 47% in 2013.

President Tinubu To Launch Birth, Death Registration Portal

President Bola Ahmed Tinubu will on Wednesday, 8^th November 2023, launch the electronic Civil Registration and Vital Statistics System (CRVS) and the Geospatial Data Repository. CRVS as defined by the World Health Organization (WHO) is a system that registers all births and deaths, issues birth and death certificates, and compiles and disseminates vital statistics, including cause of death information. It also records marriages and divorces. This was made known by the Chairman of the National Population Commission (NPC), Nasir Kwarra, at a pre-launch briefing on Monday, November 6, 2023, in Abuja.

NAF Airstrike Destroys Illegal Refineries In Rivers State

The Nigerian Air Force (NAF) High Command said on Wednesday that its aircraft under Operation Delta Safe carried out air strikes against economic saboteurs and oil thieves in the South-South region, during which an active illegal refining site (IRS) with equipment and reservoirs loaded with illegal products at Yellow Island near Bonny Island in Rivers State were totally destroyed.

New CBN Forex Policy: Lift Of Ban Threatens Poultry Industry– Operators

The Poultry Association of Nigeria (PAN) yesterday expressed concern over the recent lift in the ban on imported poultry and processed poultry products by the Central Bank of Nigeria (CBN).

FG Promises To Raise Salaries Of Paramilitary Agencies

The Federal Government has reassured personnel of the paramilitary agencies of the commitment of the current administration to undertake an upward review of their salaries as well as implement other welfare pages for the officers. Minister of Interior, Honourable Olubunmi Tunji-Ojo, gave the assurance on Thursday in Abuja during the launch of a new uniform for officers and men of the Nigeria Security and Civil Defence Corps (NSCDC).

Oyo, Edo, Kano, Ogun, Ondo Assembly Workers Begin Indefinite Strike Over Autonomy

The Parliamentary Staff Association of Nigeria, PASAN, in Oyo, Edo, Kano, Ondo, and Ogun States amongst others commenced indefinite strike over non implementation of financial autonomy in legislative houses and implementation of the Consolidated Legislative Salary Structures, CONLESS, for staff of the Assembly and Commission in the nation.