Latest Nigeria Business News
The new majority core investor in Forte Oil Plc may soon launch a mandatory tender offer (MTO) to take over ordinary shares held by minority shareholders in line with extant rules at the Nigerian capital market. Sources in the know at the weekend told The Nation that the new core investor in Forte Oil, Ignite Investments and […]
A firm, the Tulip Cocoa Processing Company, has called on the banks and other financial institutions in the country to offer single-digit Interest loans to cocoa farmers in the country in order to boost their productivity. The firm identified finance as one of the major challenges confronting cocoa farmers in the country, saying financial institutions […]
The Port Harcourt International Airport has been reopened for scheduled flight operations. The airport was shut down on Saturday, following an incident involving an Air Peace flight with registration number 5N BRN, from Abuja to Port Harcourt. An Air Peace Boeing 737-500 aircraft with about 94 passengers and crew members on board, on Saturday afternoon, […]
The Revenue Mobilisation Allocation and Fiscal Commission on Sunday said there was no going back on the on-going probing of Money Deposit Banks to ascertain the amount of money they collected on behalf of revenue generating agencies of the government. The revenues accruals being probed by RMAFC through consulting auditors include Withholding Tax, Value Added […]
Airtel Nigeria has signed a five-year loan agreement with a number of Nigerian banks. The telecommunication company, which is set to list its shares on the Nigerian Stock Exchange by July 4 and its African unit on the London Stock Exchange, disclosed this in its offer prospectus. It added that the loan agreement signed on […]
The National Pension Commission and operators under the Contributory Pension Scheme are preaching the relevance of micro- pension scheme to the informal sector, NIKE POPOOLA reports Micro pension plan targets the significant majority of Nigeria’s working population, who operate in the informal sector, according to the National Pension commission. Participants were expected from various informal sector workers’ […]
The Nigerian Ports Authority has cancelled the contract for the $2.6bn Badagry deep seaport project, stating that the deep seaport master plan was wrongly done. This is even as the agency explained that it had begun the process for fresh bids for the approval of a new port master plan for the Badagry deep seaport […]
Deposit Money Banks have given about N241.87tn loans to manufacturing, agriculture, oil and gas firms and companies operating in 15 other sectors of the economy in the last four years, IFEANYI ONUBA reports The total credit of Deposit Money Banks to the manufacturing, agriculture, oil and gas firms and companies operating in15 other sectors of […]
The Lagos State Branch of the Pharmaceutical Society of Nigeria has warned that there will soon be at least 100 per cent increase in drug prices across the country. The Chairman of PSN in the state, Mrs Bolanle Adeniran, who spoke at an event organised by the Lagos Chamber of Commerce and Industries on Thursday, […]
The Executive Director/Chief Executive Officer of Nigerian Export Promotion Council, Mr Olusegun Awolowo, has said the council’s partnership with Africa’s retail giant, Shoprite, will boost exports of Nigerian products in Africa and beyond. He disclosed this to journalists in Abuja while receiving in his office a delegation from Shoprite. With 75 stores expected to be […]