Latest Nigeria Business News
Red Star Express Plc has asked its shareholders to update their records with the registrars to ensure accuracy before dividends are declared at its Annual General Meeting, which is scheduled to hold next month. The company said in a statement that the AGM was expected to handle issues such as presentation of audited financial statement […]
An Abraka Delta State-based cement retailer, Benjamin Igherighe, has emerged as the first grand prize winner in the ongoing Dangote bag of goodies promo, winning a brand new saloon car. The Group Managing Director, Dangote Cement plc, Joe Makoju, was said to have congratulated the winner for becoming the first to emerge as the star […]
French carmaker Renault and Nigerian conglomerate, Coscharis Group, have formed a partnership to assemble and distribute Renault vehicles in Nigeria beginning from October, the companies said on Thursday. A report by Reuters indicated that the Coscharis Group plant would start assembling Renault Logan and Renault Duster vehicles and would distribute the cars through their sales […]
The Nigeria Incentive-Based Risk-Sharing System for Agricultural Lending has signed a memorandum of understanding with Ecobank on N70bn portfolio commitment to agribusiness projects initiated by NIRSAL. The facility will be drawn down in series, with the pact effectively kicking off with an initial N15bn agribusiness financing provision by Ecobank. The commitment by Ecobank is the […]
United Bank for Africa Plc says it is committed to the development of the private sector by promoting entrepreneurship in the country. As part of its efforts, the bank said it would host over 20,000 visitors, 100 small and medium enterprises and leading private and public sector players from across Africa, at its entrepreneurial fair […]
The Federal Government through the Nigerian National Petroleum Corporation has expressed its readiness to supply 10 per cent of India’s crude oil demand in the face of competing demand for the product from other countries. NNPC’s Group Managing Director, Mele Kyari, announced the country’s commitment to continue the supply of crude to the foreign country […]
The stock market extended its losing streak on Thursday as it shed N87bn, bringing the total losses to N708bn in seven days. The market lost N110bn on Monday, N68bn on Tuesday and N77bn on Wednesday. On Thursday, the market capitalisation of equities listed on the floor of the Nigerian Stock Exchange dropped from N13.667tn on […]
The Nigeria Employers’ Consultative Association said on Wednesday that Nigeria took great risks by signing the controversial African Continental Free Trade Area Agreement. The Director-General, NECA, Mr Timothy Olawale, said this on Wednesday while fielding questions from the State House correspondents after the leadership of the association had met with President Muhammadu Buhari at the […]
What I will say is that obviously, energy security for any country is a laudable goal. You have to be energy-secured because at any time, anything can happen. I will not say we are fully there as a country yet but a lot is being done to take us to where we need to be, […]
Cabotage, otherwise known as coastal trade, involves carriage of goods (and passengers) within the territorial and inland waters of any nation by ships and any other means of transportation from one place to the other in the same country. As part of maritime reforms, Nigeria enacted the Cabotage Act 2003, which was designed to restrict […]