Latest Nigeria Business News
NIGERIA’S apex capital market regulator, Securities and Exchange Commission (SEC) has come under pressure to review the process of its investigation, adjudication and conclusions on the alleged corporate governance abuses at Oando Plc. SEC had on May 31, 2019 released a statement indicting the management and board of Oando of sundry corporate governance abuses and […]
The Debt Management Office has said the Federal Government will auction N100bn worth of bonds by subscription on June 26. A circular by the DMO on Tuesday showed the breakdown of the figure to include a N30bn five-year reopening bond that would mature in April 2023 and be offered at 12.75 per cent; another N40bn […]
The European Union on Tuesday announced that it had committed over €156.3m (N53.9bn at N344.88 to one euro) in different financing instruments in Nigeria’s power sector. It, however, regretted that the country’s power sector was losing N1.3bn daily despite efforts by stakeholders to address the challenges in the industry. Speaking at the Second Seminar for […]
The National Information Technology Development Agency says that Nigeria can get a fair share of the global data economy valued at more than $1.7tn, if it adopts and faithfully implements the National Smart Initiative Policy Framework. In a draft copy of the policy obtained by our correspondent in Abuja on Tuesday, NITDA said that the […]
Smugglers of Premium Motor Spirit, popularly called petrol, are stealing about 10 million litres of the commodity daily and selling it to neighbouring countries, the Nigerian National Petroleum Corporation has declared on Tuesday. NNPC also stated that the smuggling of the product was costing Nigeria’s economy about N2bn daily, as it urged the Nigerian Union […]
The Nigerian National Petroleum Corporation has said a team from the corporation is currently in London negotiating deals that will attract Foreign Direct Investments valued at about $7bn into Nigeria’s oil and gas sector. The nation’s crude oil and condensate production had risen to 2.32 million barrels per day, the NNPC announced on Tuesday. The […]
Airtel Nigeria has officially filed an application with the Securities and Exchange Commission for the listing of its shares on the Nigerian Stock Exchange. It was gathered from top sources at the commission on Tuesday that the telecom company’s application was filed two weeks ago. It was learnt that SEC was presently examining the application […]
Shareholders of Dangote Sugar Refining Plc, on Tuesday at the annual general meeting (AGM) of the firm lauded it for its performance last year. National Coordinator, Pragmatic Shareholders Association of Nigeria (PSAN) Mrs. Bisi Bakare said some companies are struggling with the payment of dividends, Dangote Sugar Refinery has been consistent in taking care of […]
The Nigerian Civil Aviation Authority (NCAA) on Tuesday said it will demolish 8,805 masts belonging to Globacom Nigeria Limited, banks and other financial institutions. Its spokesman Sam Adurogboye in a statement, said the demolition will also affect some banks and other financial institutions which discountenanced NCAA’s regulatory requirements on clearance to erect any high structure […]
Nigeria’s crude oil and condensates production has risen to 2.323 million barrels per day (bpd), exceeding the 2019 budget benchmark of 2.3 million bpd. The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, who spoke in Abuja on Tuesday while receiving in audience, the national officials of the Nigerian Union of Journalists […]