FINANCE - 17 JUN 2020

Daily Briefing: NBET director sacked again

Daily Briefing: NBET director sacked again
Daily Briefing via Stears

Marilyn Amobi sacked again
The Minister of Power, Sale Mamman, has sacked the Managing Director of the Nigerian Bulk Electricity Trading Company (NBET), Dr Marilyn Amobi. The Ministry stated that this was in line with a reorganisation in the power sector. Mamman initially sacked Amobi in December 2019, but President Buhari reinstated her. Last month, the House Committee on Power unsuccessfully attempted to fire Amobi for alleged insubordination, incompetence and corruption.



FG suspends ExecuJet for illegal flight operation 

The federal government has suspended ExecuJet, an international business aviation company, which flies jets via Lagos airport. On a flight approved to transport a judge to Abuja for an official assignment, Execujet flew a musician, Azeez Fashola (Naira Marley) and celebrity, Kim Oprah, to host a concert in Jabi Lake Mall (now sealed). Hadi Sirika, Minister of Aviation, announced ExecuJet would also be fined. In May, Flairjet, a UK airline, was charged ₦1 million for similarly violating the commercial flight ban.

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GB Foods completes tomato processing plant

GB Foods, producers of Gino tomato paste, has completed its ₦20 billion tomato processing factory. It claims to be the second-largest in Nigeria and the first backward integrated in West Africa, engaging over 5,000 smallholder farmers. Dangote tomato processing factory, the largest in the country resumed operations in February 2020 after being closed down for over 10 months as a result of low input quantity.


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