Latest Nigeria Business News
THE Nigerian Civil Aviation Authority (NCAA) said on Wednesday that it was investigating the circumstances that forced an helicopter belonging to Tropical Arctic Logistics Limited to land on the Lagos – Benin Expressway around Ore, Ondo State. Its spokesman, Sam Adurogboye, in a statement, said the investigation was sequel to a video, which had gone […]
OIL major, Chevron Nigeria Limited (CNL), said it invested N35billion on social development in the country over the last one decade. Its General Manager of Policy, Government and Public Affairs, Esimaje Brikinn, in a presentation titled: Strategic Social Investment: The Chevron Approach, at the Pan Atlantic University, Lagos, explained that about N21.6 billion of the […]
OIL prices ticked up on Tuesday after the United States (U.S.) market opened on anticipation that data due later would show decline in crude stocks. Erasing earlier losses linked to concerns over waning demand, Benchmark Brent crude futures went up 32 cents at $65.18 a barrel. WTI crude futures rose 24 cents to $58.14 a […]
The Chief Executive Officer of the Bank of Industry, Mr Olukayode Pitan, has said there exists a financing gap of about N1tn in the country every year. Pitan, while speaking at the Economic and Business Conference organised by Rand Merchant Bank in Lagos on Tuesday, noted that the BoI had invested over N20bn in the […]
The board of directors of the African Development Bank has approved a proposal to commit $24.7m to finance the South Sudan Strategic Water Supply and Sanitation Improvement Project. The project would support the rehabilitation of approximately 50 kilometre of the Juba town distribution network and related works, including metering and public water collections outlets. It […]
More than 64.3 million Nigerians now have access to broadband Internet, the Nigerian Communications Commission has said. The Executive Vice Chairman of NCC, Prof Umar Danbatta, said this in a presentation at the Digital Africa Conference and Exhibition, which began at Base University, Abuja, on Tuesday. Danbatta, who was represented at the event by a […]
The Emir of Kano, Mallam Muhammad Sanusi II, has warned that Nigeria is on the verge of bankruptcy as fuel and electricity subsidies, as well as debt servicing, continue to eat into government revenue. Sanusi, who is a former governor of the Central Bank of Nigeria, said this while delivering his address at the ongoing […]
The Governor, Central Bank of Nigeria, Mr Godwin Emefiele, has said the discovery of crude oil and the country’s increasing reliance on crude oil revenues have led to a severe downturn in the agriculture and manufacturing sectors. He said the development exposed the economy to vulnerabilities that normally accompanied an increased dependence on a single […]
Mobile Telecommunications company, 9mobile, has offered to provide a toll-free emergency lines for the National Youth Service Corps. Its Executive Director in charge of Regulatory and Corporate Affairs, Abdulrahman Ado, disclosed this during a visit to the NYSC Director-General, Brigadier General Shuaibu Ibrahim, in Abuja. In a statement by NYSC’s Director of Press and Public […]
The Accountant General of the Federation, Alhaji Ahmed Idris on Monday in Kano allayed the fear that servicing the Country’s debt at the rate of 70 percent of the total national income will not destabilized the economy. Ahmed who spoke when he paid a traditional homage on the Emir of Kano,Muhammadu Sanusi II, at his Palace insisted […]