Local vehicle manufacturing company, Innoson Group has announced plans to begin massive manufacturing of affordable and quality vehicles by 2018. The Chairman of Innoson Group, Dr. Innocent Chukwma made the disclosure on Sunday while receiving the Nigeria Institute of Public Relations (NIPR), Brand Symbol Award, conferred on him by the Acting Chairman of FCT Chapter of the Institute, Aliyu Aliyu.
Discos Set To Deploy Meter Bypass Trackers
Electricity Distribution companies in the country have perfected plans to deploy meter bypass trackers on distribution networks to check the increasing activities of some individuals and groups who often attempt to evade payment of electricity bills by bypassing electricity meters.
The planned deployment of the technology may not be unconnected with the recent warnings from the National Electricity Regulatory Commission (NERC) that electricity consumers who bypass meters would be forced to pay N45, 000 as fine.
Bitcoin Breaks $10,000 Barrier But Analysts Warn Of Bubble
Bitcoin broke above the $10,000 mark for the first time on Wednesday as the virtual currency continued a stratospheric rise that has seen it increase more than tenfold this year.
The cryptocurrency surged to a high of $10,059 in early Asian hours, according to Bloomberg News, though the recent surge in the volatile unit has fuelled fears of a bubble.
Launched in 2009 as a bit of encrypted software written by someone using the Japanese-sounding name Satoshi Nakamoto, Bitcoin has had a roller-coaster ride that has taken it from just a few US cents to its current sky-high valuation.
NNPC Calls For Calm This Yuletide, Over One Billion Litres Of Fuel Available
The Nigerian National Petroleum Corporation (NNPC) have called on Nigerians to remain calm and not exercise unnecessary apprehension over the availability of petroleum products during and after this yuletide season.
Pakistan Buys Nigeria’s Gas
Pakistan has reverted to Nigeria’s Liquefied Natural Gas (LNG) as part of efforts to strengthen economic relations with Nigeria. According to NAN, Pakistan Head of Chancery, Asim Khan disclosed the new trade partnership in a brief chat. He stated that the first consignment of 70,000 metric tons of gas arrived at Pakistan’s Port Qasim in Karachi.
ECOWAS To Dole Out $29bn On Projects In W/Africa
President of ECOWAS Commission, Marcel Alain de Souza has revealed that the commission has concluded plans for sub-regional development projects worth 29.66 billion dollars for the period of 2018 to 2022.
Non-Oil Revenue: FG Targets N62.5bn From Luxury Cars, Cigarettes, Alcohol
The Federal Government has proposed to generate additional N1tn non-oil revenue to reduce the deficit and loans in the 2018 budget.
This will include an additional N60bn from duties on cigarettes and alcohol and N2.5bn from “special taxes” on luxury cars.
The details were contained in the briefing note on the revised 2018-2020 Medium Term Expenditure Framework and Fiscal Strategy Paper presented to the National Assembly.
FG Approves N1.7 Bn For Gurara Dam Pipeline Construction
The Federal Executive Council (FEC) on Wednesday approved the payment of N1.712 billion for the contractor handling the 75-kilometre Gurara Dam water pipeline project in Niger State.
CBN spends N6bn on ABU Business School
The Central Bank of Nigeria (CBN) spent about N6 billion to establish a business school in the Ahmadu Bello University (ABU), Zaria, Kaduna.
The university’s Vice-Chancellor, Prof. Ibrahim Garba, made this known on Saturday at ABU’s 40th convocation ceremony held at its main campus, Samaru, Zaria.
Garba said that the business school had begun as a faculty, covering Accounting, Business Administration and Economics Departments.
FG To Reintroduce Toll Gates On Federal Highways
The federal government of Nigeria has expressed its readiness to reintroduce toll-gates across major federal highways in the country.
But Minister of Power, Works and Housing, Babatunde Fashola said the toll collection will only be deployed, where highways have been reconstructed to international standards.
House Of Reps Okay 492.4 Million Dollars Foreign Loan
Ogun, Katsina, Jigawa and Plateau states proposal for the acquisition of about 492.4 Million Dollars foreign loan have been approved by Legislators at the Lower House of the National Assembly.
The composition of the loan facility indicates Jigawa State to get 32.4 million dollars from the Islamic Development Bank for integrated rural development.