Latest Nigeria Business News
The Federal Government has appointed Capt. Mukhtar Muye as the new Director of Airport Operations for the Federal Airports Authority of Nigeria. According to a statement by the General Manager, Corporate Affairs, Henrietta Yakubu, Muye is a trained commercial and multi-engine instruments pilot, who has had a distinguished career in the country’s aviation industry. “Until […]
Shareholders of Union Bank of Nigeria Plc have approved the proposed reduction of N54.4bn from the bank’s share premium account in a bid to restructure its balance sheet for optimal performance. The shareholders endorsed the move during the bank’s Extraordinary General Meeting in Lagos, according to a statement. Union Bank’s financial position as of December […]
Oando Plc has said it stands to lose significant shareholder funds following the suspension of its Annual General Meeting by the Securities and Exchange Commission. The oil firm’s share price fell further at the end of trading on the Nigerian Stock Exchange on Tuesday, dropping by 2.60 per cent to N3.75. SEC announced on Monday […]
Brands from the Nigerian Breweries portfolio – Gulder, Goldberg and Star Lager – were awarded Gold prizes by Monde Selection Awards. The awards were conferred on the three brands on June 3, at the 58th Annual Awards Ceremony of Monde Selection in Rome, Italy. This year, more than 1,000 companies from 90 countries presented no […]
The current recruitment exercise being undertaken by the Nigerian National Petroleum Corporation (NNPC), is seen as a test case on the practice of Good Corporate Governance and enthronement of transparency that leads to accountability and reduction of corruption. According to the World Bank, transparency is about publishing information, but it’s also about inviting people in, […]
The Nigerian Communications Commission (NCC) on Monday said it will extend grants to some universities to boost research and development and encourage the development of innovative solutions to address challenges in the industry. The regulator also said it will inaugurate professorial chairs in some universities across the country as part of its strategy to open […]
THE Federal Government is shopping for $4.7 billion to recapitalise the electricity Distribution Companies (DisCos), Transmission Company of Nigeria (TCN) Managing Director Usman Gur Mohammed said yesterday. The cash will be raised by the Federal Government, shareholders of the DisCos and private investors. It is all to upgrade power distribution facilities. Upon the privatisation of […]
THE Nigerian Electricity Regulatory Commission (NERC) will guard against the misapplication of the $4.7 billion being proposed for the capitalisation of electricity Distribution Companies (DisCos), its Chairman Prof. James Momoh assured yesterday. Speaking with The Nation on the telephone, he said that he was yet to receive any letter on the plan to raise the […]
An official of the Petroleum Authority of Uganda has commended the management of Department of Petroleum Resources (DPR)’s professional conducts in carrying out its regulatory activities in the oil and gas industry. Mrs Betty Namubiru, Manager, National Content, Petroleum Authority of Uganda (PAU), gave the commendation in Lagos, South-West Nigeria, during their official visit to […]
The Federal Government has said that over 392,000 businesses have so far benefited from the Micro, Small and Medium Enterprises clinic. The MSME clinic is one of the strategies of the Federal Government to make it easier to do business in Nigeria. The project brings together key Federal Government agencies to a series of business […]