Latest Nigeria Business News
The Purchasing Managers’ Index in the month of July stood at 57.6 index points, indicating expansion in the manufacturing sector for the 28th consecutive month. The Central Bank of Nigeria’s statistics department disclosed in its July survey report on Purchasing Managers’ Index on Wednesday. The index grew at a faster rate when compared to the […]
The stock market witnessed a rebound on Thursday, the first trading day in August, as it gained a meagre N14bn. The market, which had recorded a year-to-date loss of -11.8 per cent as of the last day in July, saw its capitalisation increase from N13.508tn on Wednesday to N13.522tn on Thursday. Gains recorded in stocks […]
As Nigeria laments its reported annual loss of $10bn in commodity exports, stakeholders say the country may face a bleak future and lack of competitive edge in the African free trade market unless something is done to improve the situation. Nigeria recently signed the African Continental Free Trade Agreement and there have been talks that […]
The international oil benchmark, Brent crude, dropped for the first time in six days on Thursday after the United States’ Federal Reserve dampened hopes for a string of interest rate cuts and as rising US output helped keep the market well supplied. The Federal Reserve reduced rates on Wednesday, but against expectations, the head of […]
The Nigerian National Petroleum Corporation has said the volume of foreign investment flow into the country will not be as robust as it should be until the petroleum legislation for the oil and gas sector is passed. The NNPC’s Group Managing Director, Mele Kyari, said this during a visit of the national executive officers of […]
MTN Nigeria has received N2.6bn part-payment of interconnect debt from Globacom, sources familiar with the issue confirmed on Thursday. It was gathered that the industry regulator, Nigerian Communications Commission, had intervened in the debt issue, which led to partial disconnection of calls from Glo to MTN subscribers. The source also said discussions were ongoing to […]
The chairman, Peoples Democratic Party, PDP Kano state chapter,Rabiu Suleiman Bichi, before the Kano Governorship Election Petition Tribunal, on Thursday, failed to give evidence against the election of governor Abdullahi Umar Ganduje of the All Progressive Congress, APC, as the executive governor of the state. Rabiu, who is the former Secretary to the state Government […]
Victor Ajidagba, a 400 Level student of the Department of Nursing, University of Ibadan, was on Wednesday confirmed dead after slumping while walking through the department of Physiology around 5:30 pm. Although he was said to have been rushed to the Institution’s clinic, Jaja, by two other students who saw him fell, he was confirmed […]
Kwara High Court sitting in Ilorin, the state capital has ordered the forfeiture of N150 million plaza belonging to a civil servant in the state. Ilorin zonal office of the Economic and Financial Crimes Commission (EFCC) urged the court to give an order of final forfeiture of AsmauPlaza along University of Ilorin road, Tanke area […]
Daughter of Ibraheem El-Zakzaky, leader of the Islamic Movement of Nigeria (IMN), Suhaila Zakzaky has insisted the group will continue its protests till her father is released. Suhaila said this in a video published on Facebook. President of the IMN media forum had on Wednesday announced that the protests have been suspended. However, reacting to […]