Connect with us

Business

FG To Complete PH-Maiduguri Rail Lines In 2013

Published

on

The on-going Port Harcourt – Maiduguri corridor rail lines will be completed by the end of 2013.

The president, Dr Goodluck Jonathan disclosed this during his Democracy Day broadcast last Tuesday in Abuja.

President Jonathan said the project is among the 3,000 kms of existing narrow gauge rail lines across the country that the government is currently rehabilitating.

According to him, the Lagos – Kano corridor would be completed this year, while work had commenced on the Abuja – Kaduna segment of the Lagos – Kano standard gauge rail lines.

He hinted that contract for the Lagos – Ibadan segment of the rail lines would be awarded this year as the Itekpe – Ajaokuta – Warri rail line is nearing completion with the entire tracks completely laid.

The president also stated that to enhance sustainability in the rail transport system, his administration has signed a Memorandum of Understanding (MoU) with General Electrical (GE) to establish a locomotive assembly plant in Nigeria, adding that “our goal is to  make Nigeria a major hub in West and Central Africa”.

He noted that in efficient and affordable public transport system remains a priority to the administration and stressed that the transformation agenda in the road sector which seeks to deliver better and safer roads to all Nigerians, as well as to link the six geo–political zones in the country with due carriageways is on course.

President Jonathan, however, regretted that work on the East – West Road had been slow due o budgetary constraints, but assured that government would discharge all liabilities to contractors before the end of this month, as well as funds for the remaining part of the year would be provided to accelerate the pace of work.

He stated that about 21 other road projects in other parts of the country were at different stages of completion, and assured Nigerians of his administration’s desire to improve the transport sector.

 

Collins Barasimeye

Continue Reading

Business

“FCCPC Approves Sale Of Chivita|Hollandia To UAC Nigeria PLC 

Published

on

UAC of Nigeria PLC (UAC) has announced the completion of it’s in a press release on October 3, 2025, that it has completed the acquisition of Chivita|Hollandia (CHI Limited), following approval from the Federal Competition and Consumer Protection Commission (FCCPC).
Revealing this in a Press Release, at the Weekend, UAC said the transaction, first disclosed on July 30, 2025, involved the transfer of ownership of CHI Limited, a leading Nigerian food and beverage company best known for its market-dominant Chivita juice and Hollandia dairy brands, to UAC.
Commenting on the development, the Managing Director, CHI Limited, Eelco Weber, expressed optimism in the company’s future under UAC’s ownership.
“We are pleased to have received regulatory approval for this transaction. We look forward to a smooth transition and to seeing Chivita|Hollandia thrive under UAC’s ownership,” he said.
Group Managing Director of UAC, Fola Aiyesimoju, highlighted the strategic importance of the acquisition saying “We are excited to officially welcome the Chivita|Hollandia team and brands into the UAC family, and we are eager to work together to build on their strong legacy and market leadership”.
The acquisition is expected to strengthen UAC’s position in Nigeria’s fast-moving consumer goods (FMCG) sector, expanding its footprint into the growing juice and dairy markets.
UAC further said that the acquisition aligned with its growth agenda by adding two market-leading brands and a well-established distribution network to its por.
Continue Reading

Business

PenCom Reintroduces Gratuity For Federal Civil Servants

Published

on

The National Pension Commission has said it has deployed a framework to restore gratuity for Federal Civil Service under the Contributory Pension Scheme.
Director-General of PenCom, Omolola Oloworaran, disclosed this at a Stakeholders’ Conference on the Workings of the Contributory Pension Scheme (CPS) for Employees and Pensioners of Federal Government Treasury-Funded Ministries, Departments and Agencies, in Abuja, last Thursday.
Represented by the Acting Commissioner, Technical, PenCom, Hon. Hafiz Kawu Ibrahim, Oloworaran said, “Working with the office of the Head of the Civil Service, a framework has been developed to restore gratuity benefits for federal workers under CPS, in line with Section 4(4) of the PRA 2014.”
The PenCom DG added that “PenCom has enhanced pensions for over 241,000 retirees, representing 80% of those under Programmed Withdrawal. Monthly pensions rose from N12.157 billion to N14.837 billion, effective June 2025.
“Also, since July 2025, no retiree waits to access their pensions. Payments are now immediate, aligned with monthly salary releases from the Federal Ministry of Finance”.
Also speaking, the Chairman of the National Salaries, Income and Wages Commission, Ekpo Nta, stated that the Commission would partner PenCom to examine the current rate of retirement benefits and recommend appropriate mechanisms for periodic reviews of retirement benefits.
Continue Reading

Business

CAC, SMEDAN To Register 250,000 MSMEs Free ……..As CAC Forfeits ?3b In Fees Nationwide

Published

on

The Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have announced a joint initiative to register 250,000 Micro, Small, and Medium Enterprises (MSMEs) free of charge across the country, with CAC foregoing about ?3 billion in registration fees
The initiative, announced during the signing of a Memorandum of Understanding (MoU) in Abuja, at the Weekend, seeks to remove barriers such as high costs and bureaucratic challenges that have long kept many small businesses in the informal sector.
The Registrar-General, CAC, Hussaini Ishaq Magaji, SAN, explained that the scheme would eliminate the registration fee, helping entrepreneurs access official recognition and grow their businesses.
SMEDAN Director-General, Dr. Charles Odii, added that registration is just the first step, noting that registered businesses will benefit from continuous aftercare such as grants, training, and market access.
Together, the two agencies noted that CAC will forgo approximately ?3 billion in registration fees, while SMEDAN will provide continuous support to help these businesses thrive.
They added that this partnership supports the Federal Government’s Renewed Hope vision to boost Nigeria’s economy by empowering entrepreneurs.
CAC further disclosed measures to ease company registration with the steps as follows: 1. Visit the SMEDAN portal: http://portal.smedan.gov.ng., 2 Sign up and complete your registration on the portal., 3. When asked if you have a CAC number, select “No”., 4. Submit your details to complete the process., 5. Once registration is completed, you will be contacted with the next steps to finalise your free CAC registration.
It further clarified that MSMEs already on SMEDAN’s database without CAC registration automatically qualify for this free registration drive.
Continue Reading

Trending