Business – Page 724 – Rise Africa

Alaro City, Universal Homes deliver 48 apartments to investors

09.12.2024

Alaro City, in collaboration with Universal Homes, has handed over an additional 48 apartment units to subscribers, marking the completion of the second phase of the Universal Homes project valued at $90m. In a statement, it was noted that this milestone followed the successful delivery of the first 48 units in August and highlighted Alaro...

Dangiwa to inspect Lagos housing projects

09.12.2024

The Minister of Housing and Urban Development, Ahmed Musa Dangiwa, will be embarking on a working visit to Lagos to inspect ongoing Renewed Hope Housing Projects and engage stakeholders on land administration. A statement by the Lagos Controller, Federal Ministry of Housing and Urban Development, Funmilayo Olayiwola, on Sunday, disclosed that the minister would be...

FG deducts N700bn from federation account for free meter distribution

09.12.2024

The Federal Government has set aside N700bn from the federation account for the implementation of the distribution of free electricity meters under the Presidential Metering Initiative, according to the Special Adviser to the Minister of Power on Strategic Communications and Media, Bolaji Tunji. In a chat with The PUNCH on Friday, he noted that the...

Compensation process lacks transparency, says Surveyours

09.12.2024

The Nigerian Institute of Quantity Surveyors has stated that the Lagos-Calabar Coastal Highway compensation process lacked transparency. The Chairman of the Nigerian Institute of Quantity Surveyors, Lagos Chapter, Olarewaju Farotimi, said the compensation process was shrouded in secrecy. He disclosed that at a press briefing announcing the Nigerian Institute of Quantity Surveyors Lagos State Chapter’s...

Developer jailed 10 years for defrauding 133 victims – LASRERA

09.12.2024

The Special Adviser to the Governor of Lagos State on Housing, Bakarat Odunuga-Bakare, has disclosed that one developer had been jailed for defrauding 133 victims of N25m in the guise of rental payment. She disclosed that at a press conference ahead of the 5th Lagos Real Estate Marketplace Conference and Exhibitions, themed “Reimagining the Lagos...

SEC explores blockchain technology to enhance trust, transparency in capital market

09.12.2024

The Securities and Exchange Commission has said that it is exploring blockchain technology to boost trust and transparency in the capital market. The Director-General of the SEC, Dr Emomotimi Agama, made this known at the annual conference of the Capital Market Correspondents Association of Nigeria on Saturday in Lagos. Agama, who was represented by the...

Pharmaceutical manufacturers forced to drop prices – CEO, Daily Need

09.12.2024

The Chairman of the Pharmaceutical Manufacturers Group of the Manufacturers Association of Nigeria and Managing Director of Daily Need Group, Oluwatosin Jolayemi, speaks to ARINZE NWAFOR about zero Value Added Tax on pharmaceutical inputs, NAFDAC relationship and medicine independence Did the recent strike by workers of the National Agency for Food and Drug Administration and...

Lack of local content threatens bonded terminals – Operators

09.12.2024

The Association of Bonded Terminal Operators of Nigeria has expressed concern over the threat to investments in indigenous bonded terminal operations, citing the inadequate integration of local content into the Federal Government’s 2006 port concession policy. The General Secretary of ABTON, Haruna Omolajomo, highlighted the deteriorating state of bonded terminal operations in Nigeria, attributing the...

29 states spent N2tn on travels, others — Report

09.12.2024

•State govts borrowed N533bn, generated N1.92tn IGR, serviced debt with N658bn A total of 29 state governors spent N1.994tn on recurrent expenditures, including refreshments, sitting allowances, travelling, and utilities in the first nine months of 2024, findings by The PUNCH have shown. It was also gathered that the states obtained a N533.29bn loan, while it...

Nigeria may lose $1.2tn AI opportunity, warns NIGCOMSAT

09.12.2024

Nigerian Communications Satellite Limited, the country’s satellite operator, has called for immediate policy action to harness the potential of artificial intelligence. The operator warned that the country risks missing out on Africa’s projected $1.2tn share of the global AI economy by 2030. The call was made by NIGCOMSAT’s Managing Director, Nkechi Egerton-Idehen, in a statement...