By Bukola Idowu, Lagos Although it started out on a note that was not encouraging, analysts say the Nigerian economy has fared better in the first half of 2017 than it did in the past two years due the policies put in place by both the fiscal and monetary authorities. The first half of the year has seen inflation begin to ease by the second quarter. Negative growth of the Gross Domestic Product also decline with many projecting that the economy would record positive growth by the end of the second quarter. Likewise, the external reserves of the country had risen as the price of oil at the global market rose and the foreign exchange crisis of the eased as liquidity improved in the market and the issue of rates convergence was addressed. Rating the performance of the economy in the first six months of the year, economic analysts told Leadership that the...
With the focus on improving its operations and service to humanity with good returns to stakeholders, the leader in identity solutions provider and management in Nigeria has added four persons to its Board of Directors. ‘’This will strengthen Chams PLC’s global objective and expand its ability to take innovation to scale and increase our impact around the world.” The personalities are: Pastor Ituah Ighodalo – Non-Executive Director Pastor Ituah Ighodalo is a Pastor, an Accountant, a Thinker, a Social Reformer and a Writer. He obtained a B.Sc combined honours degree in Economics and Accounting in 1982 from the University of Hull, England, qualified as a Chartered Accountant in July 1986 and attended a Business Management Course at the Harvard Business School, Boston in 2011. Pastor Ituah is a Fellow of the Institute of Chartered Accountants of Nigeria, a fellow of the Chartered Institute of Taxation Nigeria, member of the Nigerian Institute of Management,...
By ADEBIYI ADEDAPO, The House of Representatives Committee on Telecommunications yesterday queried management of leading telecommunications company, MTN-Nigeria over mass disengagement of personnel. The committee during an investigative hearing into the massive job loss and drop in revenue in the industry also requested the telecommunications company to provide a comprehensive list of persons disengaged from its service in the last one year. MTN’s acting Human Resource Executive, Ajibola Opeoluwa-Calebs, while responding to questions from the committee members explained that 194 staff voluntarily resigned from the company’s service, out of the 368 staffers that were disengaged from the service in the last one year. Ajibola said some of the disengaged staff were laid off due to their inability to use the latest technology in the industry. This according to him have created new vacancies and the company is about to recruit about 240 new staff, and vacancies had been published for 150 position already. “In April,...
By BAYO AMODU Mr. Seun Peters is the managing director of Interjet Nigeria Limited, an indigenous firm that specializes in sale and maintenance of aircraft. In this interview with BAYO AMODU, the renowned lawyer explains how Nigeria’s aviation sector can overcome most of its challenges and other salient issues in the industry. What are your views on the current state of the Nigeria’s aviation industry in terms of infrastructure development? First of all, I must commend the Minister of State for Aviation, Senator Hadi Sirika, for what he is doing. I commend him for his efforts in terms of concessioning of the facilities at the nation’s airports. This is a step in the right direction. The major challenge we are facing in the sector, which I think we can overcome is that if we privatized 80% of the aviation industry and put it in the hands of private operators, it will...
By SALIHI ABUBAKAR BELLO,  Kano A Chinese multinational company, Shandong Ruyi Technology Group is set to invest $600 million in the textile and garment industry in Kano State. Already, talks between officials of the company and the Kano State Investment Promotion Agency have reached advanced stage, and it is expected that a memorandum will be signed in the next few months. The chairman of the state Investment Promotion Agency, Alhaji Isyaku Umar Tofa made this known during the presentation of certificates of occupancy to two investors by the state governor, Dr. Abdullahi Umar Ganduje, at the Government House in Kano. “We are about concluding talks with them and they were encouraged by the commitment of the Ganduje administration to provide tax incentives as well as free land for their huge investment,” he stated. Alhaji Isyaku Umar pointed out that the government was giving out free land to two companies namely; Black Rhino/Dangote Group to...
bY FRANCIS OKOYE, Maiduguri and FESTUS OKOROMADU, Abuja Few days to the deadline set by the Nigerian National Petroleum Corporation (NNPC) to resume oil exploration in Borno state, indications have emerged that the planned exercise may not take place soon. LEADERSHIP reports that none of the sophisticated equipment for the operation has been moved to the site earmarked for the commencement of the exercise even as there are no activities on ground to indicate that the exercise will begin soon as promised. It would be recalled that the NNPC has said oil exploration in the Chad basin will commence in July, 2017, as according to it, necessary arrangements were being made for the take-off of the much awaited exercise. Speaking in May when he visited Borno, the NNPC group managing director, Dr Maikanti Baru, who was represented by the chief operating officer, Gas and Power, Mr Saidu Mohammed, assured the people of Borno...
By Nkechi Isaac, Abuja Telecommunication consumers were taken by surprise when the nation’s telecommunication regulatory body, the Nigerian Communications Commission (NCC) came out in the beginning of the year with its year’s focus, declaring 2017 as “The Year of the Nigerian Telecom Consumer.” Most regulatory bodies have the characteristics of being aloof, carrying out their regulatory functions without really identifying with those they are supposed to be protecting. The announcement by the NCC on March 15, 2017 was the first of its kind; it was the first time a regulatory body would come up with such mission, the first a government agency would openly take a stand with the masses and fight for their right. As is expected, the commission’s announcement got some consumers suspicious, confused and sceptical. However, four months after the announcement, telecommunication consumers throughout the nation are beginning to understand the commission’s mission which is backed by massive engagement,...
By OLUSHOLA BELLO,  Lagos The Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, has been elected the vice-chairperson representing Africa, for the 11th World Trade Organisation (WTO) Ministerial Conference. This was made known in a statement signed by the Strategy and Communications adviser to Minister of Industry, Trade and Investment, Constance Ikokwu sent to newsmen, yesterday. According to the statement, Nigeria’s election was decided at the meeting of the WTO General Council on July 26th, saying the General Council acts on behalf of the Ministerial Conference on all WTO affairs. “It meets as the Dispute Settlement and Trade Policy Review Body to oversee procedures for settling disputes between members and to analyse members’ trade policies.” It stated that, the Ministerial Conference, which meets every two years, is the topmost decision-making body of the WTO, saying that it brings together members of the organisation, all of which are countries or customs unions and can...
The Association of Nigerian Electricity Distributors (ANED) says directive by Nigerian Electricity Regulatory Commission (NERC) to consumers not to pay estimated electricity billings only applies to Maximum Demand (MD) customers and not residential. The Chief Executive Officer of ANED, Mr Azu Obiaya made the clarification in an interview with the News Agency of Nigeria (NAN) in Abuja on Sunday. Maximum Demand (MD) customers are commercial and industrial customers who consume high levels of electricity and contribute substantially to the revenues of distribution companies. The consumption threshold for MD customers is 45KVA. MD meters are connected on the 11Kv (High tension wire) electricity lines, mostly on dedicated transformes. The customers include heavy users of electricity like commercial business plazas, large films, and small scale industries among others. NERC had in June 2016, issued a directive to distribution companies for all MD customers to be metered by November.  30, 2016. Following the expiration of the deadline, it further directed...
By ANTHONY AWUNOR, Lagos Fresh facts have emerged on possible return to life of Arik Air which was taken over in February 8th this year by the government which handed over the embattled airline to the Assets Management Corporation of Nigeria (AMCON) to manage due to the airline’s huge debt portfolio. Barely four months into the takeover, there are indications that shareholders of Arik Air may have started discussions with a major investor to partner with the airline, offset the debts it owed Asset Management Corporation of Nigeria (AMCON) and other creditors. LEADERSHIP gathered that, although the airline shareholders have held series of meetings with other investors but has reached firm commitment with a particular Middle East-based conglomerate, which has its headquarters in Dubai with interest to do business in Africa. Industry source hinted that the company had voted funds to investment in airline business, power and agriculture and it was attracted to...