Euro Global Foods and Distilleries Limited, maker of Sabrina Gin, Seaking Schnapps and Czar Ice has increased its share of the Nigerian wine and beverage market with the introduction of a new 25cl small pack Amphora Tempranillo wine. Originally available in 75cl and 37.5cl bottles, the new product will allow Euro Global the opportunity to reach out to low income buyers who also desire to consume wine.
Updated 5 Years ago

The Federal Ministry of Aviation on Monday announced plans to introduce airport development charges in all the nation’s airports in a bid to clear a debt of over N174bn. This was disclosed by the Supervising Minister of Aviation, Dr. Samuel Ortom, when the House of Representatives Committee on Aviation visited the ministry. The House, however, described the debt as alarming and stated that it would take more than 20 years to clear it.
Updated 5 Years ago

The Senate Committee on Finance has said that President Goodluck Jonathan should be blamed for the unilateral spending of N685.910bn by the Nigerian National Petroleum Corporation on kerosene subsidy in 2012 and 2013. The committee which probed the alleged $49.8bn missing oil money, said Jonathan set aside a directive by the late President Umaru Yar’Adua in 2010 that kerosene subsidy payments should be stopped.
Updated 5 Years ago

Senator Iroegbu, Yemi Akinsuyi in Abuja and Michael Olugbode in Maiduguri Once they are freed, the Borno State Governor, Alhaji Kashim Shettima, has promised to relocate the abducted Chibok schoolgirls to other parts of the country to conclude their secondary school education. The governor’s statement coincided with news from Borno State that Boko Haram terrorists who have turned his state into a killing field continued their onslaught on villages and a church in the state, resulting in the death of 24 persons, including 14 suspected terrorists.
Updated 5 Years ago

The All Progressives Congress (APC) yesterday asked the federal government to lead the way on the issue accountability by accounting for the huge budgetary allocation it receives monthly from the Federation Account in view of its poor record of development. This came as the Lagos State Governor, Mr. Babatunde Fashola (SAN), monday lamented the growing trend of insecurity in different parts of the country, noting that it poses daunting threats to the 2015 general election.
Updated 5 Years ago

It was a tensed atmosphere yesterday at the Ministry of Aviation, when some members of the House of Representatives, disagreed over the appropriateness of the $500 million Chinese loan secured last year by the federal government for the remodelling of the Port Harcourt, Abuja, Lagos and Kano airports to international standard. They demanded the full terms of the agreement, the interest accrual and the timeline of the loan.
Updated 5 Years ago

Nigeria’s total amount of generated electricity from thermal power plants operating within the country is to drop as two of the country’s major gas plants, Utorogun and Ughelli East gas plants, are to be closed for scheduled but intermittent maintenance works. The scheduled repair works on the two plants, which supply gas to most of the country’s thermal plant are expected to last for about 20 days cumulatively, starting from June 2 to 22; upon completion of the maintenance and upgrades, both plants are expected to guarantee improvement in gas production.
Updated 5 Years ago

The Director General, Bureau of Public Enterprises (BPE), Mr. Benjamin Ezra Dikki, has said the federal government invested about N1.6 trillion to set up 600 public enterprises in all sectors of the economy over the years before the privatisation programme. But he expressed regrets that there had been no corresponding returns on investment to the Nigerian economy as the enterprises largely served as drain pipes.
Updated 5 Years ago

Nicolas Cary is convinced Bitcoin is as monumental a game changer as the Internet itself. He believes in it so much that he’s perfectly fine with getting paid 100 percent in the world’s first digital cash by his employer, Blockchain.info, the popular Bitcoin wallet and block explorer he leads as CEO (and chief bacon officer). Actually, everyone at the York, England-based startup gets paid in Bitcoin only. The company doesn’t even have a single traditional bank account.
Updated 5 Years ago

Every successful person is busy struggling to manage countless competing priorities in all aspects of professional and personal life. Staff meetings, pitch meetings, vendor meetings, customer meeting. Then there’s the actual day-to-day work and even (gasp) a personal life. A perpetually packed calendar just comes with the territory. But for up-and-coming entrepreneurs, those at the higher level with said packed calendars are a treasure trove of knowledge and experience -- and maybe even a deal or two. But here’s the thing: busy, experienced entrepreneurs, for the most part, aren’t too keen on speculative meetings. Speculation takes time and time is money. Nine times out of 10, speculative meetings do not yield any ROI, especially in the short-term. So working with the assumption that a busy person (aka, “the target”) isn’t going to take a speculative meeting, the upstart entrepreneur needs to do something remarkable: they need to make the meeting request impossible to decline. They need to identify the target’s favorite spot.
Updated 5 Years ago