Latest Nigeria Business News
Skyway Aviation Handling Company (SAHCO) Plc recorded a net loss of N665.65 million in 2018 despite almost a quarter increase in the aviation handling company’s turnover. Key extracts from the audited report and accounts SAHCO for the year ended December 31, 2018 showed that the company recorded a net loss of N665.65 million in 2018 […]
Access Bank has emerged winner of the Karlsruhe Sustainable Finance Awards for “Outstanding Business Sustainability Achievement”. It received the award at a ceremony held at the City Hall, Karlsruhe, Germany. This is the fourth time the bank would win the award. The award was presented to the Bank’s Group Managing Director/CEO, Herbert Wigwe, with top […]
The nation’s external debt stock rose by 148 per cent in almost four years of the President Muhammadu Buhari administration, data from the Debt Management Office showed. The external debt soared to $25.61bn on March 31, 2019 from $10.32bn on June 30, 2015, according to the DMO. Eurobonds worth $10.87bn accounted for the largest chunk […]
A total of 720,000 small-holder farmers have received credit facility totalling N120.6bn through the Central Bank of Nigeria’s Anchor Borrowers’ Programme, Vice-President Yemi Osinbajo has said. The Vice President also hinted about the government’s plans to extend more agricultural credit to farmers in the South to encourage more people to engage in mechanised farming. He […]
Lutoyilex Construct Limited, a construction company registered in Nigeria, has joined the list of firms debarred for fraudulent practices by the African Development Bank Group and other international bodies. The AfDB, on Tuesday, announced the debarment of Lutoyilex Construct Limited and its Managing Director, Mr Bamidele Obiniyi (also known as Mr Bamidele Abayomi) for a […]
The Department of Petroleum Resources (DPR) has lifted sanctions placed on Petrocam Trading Nigeria Limited, a downstream marketing company, for violating the agency’s rules and regulations. This is coming after Petrocam’s operation nationwide was suspended for 10 days. The Acting Director of DPR, Ahmed Shakur, said Petrocam committed an infraction against DPR in one of […]
About 131,085.06 barrels of crude oil and 29,612,202 litres of illegally refined products valued at about N8.4 billion have been destroyed by the Nigerian Navy (NN) between January and June 19, it was learnt. Also destroyed were 227 illegal refineries, 2,688 storage facilities and 364 wooden boats while 11 barges and 32 vessels were impounded. […]
First City Monument Bank (FCMB) in partnership with MOD Education is supporting customers aspiring to study in foreign tertiary institutions. Both institutions also organised a two-day International English Language Testing System (IELTS) training in Lagos to help candidates seeking globally recognised and approved language skills. It is required to pursue and fulfill academic aspirations in […]
Tin Can Island Command of the Nigeria Customs Service has processed a total of 150,930 metric tons of export with free on board (FOB) value of N68.88 billion from the port between January and June. This is compared to 118,452mt of goods exported through the port with FOB of N63.10 billion within corresponding period of […]
Nigerian equities reopened yesterday on the negative side as continuing sell pressure shaved off N110 billion in investors’ worth. Benchmark indices at the Nigerian Stock Exchange (NSE) showed a market-wide sell pressure with average price decline closing the trading session at 0.79 per cent. The continuing depreciation in share prices further worsened the negative average […]