Latest Nigeria Business News
Oando Plc, an indigenous energy group, has said its crude oil production increased by 15 per cent to 16,876 barrels per day in the first half of 2019. The group, while announcing its unaudited results for the six months period ended June 30, 2019, said its natural gas production increased by eight per cent from […]
Nigeria’s four refineries under the management of the Nigerian National Petroleum Corporation have not made any profit since May 2018. Instead, the refineries posted losses consecutively between May last year and May this year. The country’s refineries comprise Warri Refining and Petrochemical Company, two plants at Port Harcourt Refining Company and Kaduna Refining and Petrochemical […]
The World Bank loan portfolio in Nigeria increased by $2.19bn in the last three years, investigation has shown. Data obtained from the Debt Management Office in Abuja on Monday showed that the country’s loan commitment to the bank as of March 31, 2016 stood at $6.72bn. However, as of March 31, 2019, the loan commitment […]
The police in Kaduna on Sunday said that they had beefed up security ahead of today’s ruling of the application filed by the embattled leader of the Islamic Movement of Nigeria, Ibraheem El-Zakzaky. Justice Darius Khobo of the Kaduna State High Court will rule on the application filed by El-Zakzaky, who is seeking permission to […]
An anti-corruption advocacy group, Socio-Economic Rights and Accountability Project, has urged governors to emulate Oyo State Governor, Seyi Makinde, who declared his assets publicly. Describing Makinde as a good example, SERAP said it was important for 35 other governors to follow him because Nigerians ought to know the worth of their governors. SERAP said in […]
The Nigeria Labour Congress has warned President Muhammadu Buhari not to return Dr Chris Ngige as the Minister of Labour and Productivity in the next cabinet. It warned that returning the former Anambra State governor as minister would create industrial crisis, adding that Ngige lacked the approach to lead workers. Towards the end of Ngige’s […]
LAGOS State Governor Babajide Sanwo-Olu has said his administration will partner with the United Arab Emirates (UAE) in the areas of traffic management and security. The governor spoke at the weekend when he received the Consul-General of the UAE Consulate in Nigeria, Dr. Abdulla Al-Mandoos, at the Lagos House, Alausa, Ikeja. He noted that in […]
Intending Hajj pilgrims have been warned against trafficking illegal and contraband drugs, such as cocaine, Tramadol, heroin and cannabis to Saudi Arabia. Alhaji Mahlum Musa, from the National Drug Law Enforcement Agency (NDLEA), spoke at a Hajj seminar organised by Hajj Mabrur Ventures Limited (HMVL) in Lagos. Alhaji Mahlum said kolanuts was forbidden by the […]
To ensure that Lagos State remains safe, LASACO Assurance Plc has donated N10 million to Lagos State Security Trust Fund (LSSTF). LASACO Managing Director Mr Segun Balogun said the company iwas donating to the fund to help the organisation to continue providing the basic equipment to the security agencies in and around the state. He […]
The National Insurance Commission (NAICOM) has directed insurance and reinsurance firms to submit their recapitalisation plans to the Commission by August 20. This is coming as the deadline for firms to meet up with the commission’s directive to increase their capital narrows from 13 months to nine months. In May, NAICOM increased the minimum paid-up […]