Nigeria to import N319.8bn raw sugar from Brazil

Nigeria to import N319.8bn raw sugar from Brazil

Nigeria to import N319.8bn raw sugar from Brazil   There are indications that Brazil would supply 80 per cent or 1.44million tonnes of raw sugar valued at N319.85 billion ($680.55million) to Nigeria in 2021. Nigeria is currently battling with sugar production deficit of 1.81million tonnes valued at $850.7 million as global price surges to $407 per metric tonnes. Brazil’s production has already increased by more than 44.2 per cent to meet demand from Nigerian and other buyers. It was gathered that high sugar price in 2021 would further encourage producers…

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Danger ahead? Bitcoin faces price turbulence as market liquidity falls

Bitcoin faces price turbulence

Bitcoin faces price turbulence as market liquidity falls     With liquidity falling in the bitcoin market, smaller trades can have a relatively large price impact, according to analysts. Bitcoin’s falling market liquidity – how much is available for trades – is raising the risk of wild price swings, analysts at JPMorgan have hinted. “Market liquidity is currently much lower for Bitcoin than in gold or the S&P 500, which implies that even small flows can have a large price impact,” Bitcoin’s falling market liquidity – how much is available…

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Google to resume accepting political ads but with strict policies

Google

Google resumes accepting political ads but with strict policies   Alphabet Inc’s Google will resume accepting political advertisements in the United States from Feb. 24, according to an email to advertisers seen by Reuters. Google paused such advertisements in January following the violence at US Capitol and in the run-up to the presidential inauguration. “We will continue to rigorously enforce our ads policies, which strictly prohibit demonstrably false information that could significantly undermine trust in elections or the democratic process,” a company spokeswoman said, confirming the move. Facebook Inc has paused political ads after…

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How telecoms sector led the charge to lift Nigeria out of recession

How telecoms sector led the charge to lift Nigeria out of recession

As sector boosts GDP by 12.45%   Nigeria’s telecommunications industry, regulated by the Nigerian Communications Commission (NCC), is one of the sectors whose performance lifted the country out of recession in the fourth quarter of 2020, contributing 12.45 percent to the country’s Gross Domestic Product (GDP). According to the latest data released by the National Bureau of Statistics (NBS), telecommunications & Information Services under Information and Communication grew by 17.64 per cent in Q4 2020 from 17.36 per cent in Q3 2020 and 10.26 per cent in Q4 2019. In the…

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Pension: Lagos pays N1.51bn to 292 retirees

Lagos pays N1.51bn to 292 retirees

Pension: Lagos pays N1.51bn to 292 retirees   The Lagos State Government (LASG) has said it paid N1.51 billion to another set of 292 pensioners in the state. In a statement titled ‘Lagos restates commitment to pensioners’ welfare’, it said it remained committed to the payment of all pension entitlements when due. During the 82nd bond presentation ceremony to 292 pensioners whose Retirement Savings Accounts (RSAs) were credited with N1.51 billion, the director-general, Lagos State Pension Commission, Mr Babalola Obilana, assured retirees of the state government’s dedication to the well-being…

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25,000MW deal: FG, Siemens sign pre-engineering contract

Siemens

25,000MW deal: FG, Siemens sign pre-engineering contract   The Federal Government and Siemens have signed a contract for the pre-engineering phase of the Presidential Power Initiative that seeks to boost power generation in the country. Our correspondent gathered that the award letters were signed last Thursday by Siemens Energy Nigeria and FGN Power Company, a special purpose vehicle created by the Federal Government for the project. The Federal Government and Siemens AG had in July 2019 signed a Letter of Agreement on the Nigerian Electrification Roadmap, now Presidential Power Initiative,…

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Insurance sector contracted by 12.05% in Q4 – NBS

Insurance sector

Insurance sector contracted by 12.05% in Q4 – NBS   The insurance sector contracted by 12.05 per cent in the fourth quarter of 2020, latest figures from the National Bureau of Statistics have revealed. Figures obtained from the NBS on the industry’s performance also revealed that the insurance sector accounted for 8.6 per cent of the entire financial sector in the period under review. Part of the report read, “The finance and insurance sector consists of the two subsectors, financial institutions and insurance, which accounted for 91.40 per cent and…

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Smile Telecoms Holdings announces new appointments, retirements

Smile Telecoms Holdings

Smile Telecoms Holdings Ltd., a Pan-African telecommunications group with operations in Nigeria, Uganda, Tanzania, and the Democratic Republic of the Congo, announced after its board meeting held on January 15th, 2021, significant changes in the leadership of the Group’s board and management The Group announced the retirement of Ms. Irene Charnley and Mr. Mohammed Wajih Sharbatly from the Group’s Board and all boards of the operating companies, effective January 1st 2021. Ms. Irene Charnley, the Founder of Smile, has retired as Deputy Chairman from the Smile Telecoms Limited Board.Mr. Mohammad Wajih Sharbatly…

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More than 3 years after marriage, Banky W, wife welcome first child

banky w baby

    After more than three years of tying the knot, popular Nigerian singer, Banky W and his wife, Adesua Etomi have welcomed their first child. The couple got married on November 19, 2017. In an Instagram post, the singer turned actor, posted a picture of his wife which showed her baby bump, alongside other lovey-dovey pictures of himself and his wife. He took to the caption section to write a loving message to his wife on her birthday as he revealed the name of his child, Zaiah. The singer…

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Headies Winners: Davido, Wizkid, Niniola, Fireboy, others shine… See Full List

Headies Winners

The 2021 Headies Awards was virtual this year with great performances from BBNaija 2020 winner, Laycon, alongside, DJ Neptune and Joeboy, Fireboy DML, the Cavemen and many others. The Headies is one of the most anticipated and glamourous music award ceremonies many looked forward to.From all the glitz & glam from the special red carpet reception, the memorable appearances from performing artiste to announcing the winners, attendees were definitely prepared for an interesting indulgence of undiluted entertainment.The Headies celebrates the best in music with incredible and historic wins. Some of your faves celebrities, like Wizkid, Falz, Pheelz, Simi and Mayorkun, picked…

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