Latest Nigeria Business News
The Bureau of Public Enterprises has denied any link with the purported ongoing verification of former workers of the defunct Power Holding Company of Nigeria. In a statement issued in Abuja on Thursday, Head of Public Communications at the privatisation agency, Amina Othman, said that BPE did not have anything to do with the communication […]
Pension Funds Administrators have invested about N29.4bn of the growing assets under the Contributory Pension Scheme in infrastructure projects as of the end of March 2019. Figures obtained from the National Pension Commission revealed that the operators raised the funds invested in infrastructure to N18.5bn as of the end of 2018 from N6.8bn at the […]
A Federal High Court in Lagos has adjourned until June 19 hearing in a debt recovery suit filed by the Federal Government against Shell Western Supply and Trading Ltd over an alleged $406.7m shortfall in crude oil shipment. The suit numbered FHC/L/CS/336/16, was filed by Fabian Ajogwu, the counsel to the Federal Government. It has […]
Akwa Ibom State’s carrier, Ibom Air, has been given the Nigerian Civil Aviation Authority’s Air Operator Certificate to begin commercial flight services. The AOC was issued to the airline in Lagos, on Thursday. The airline, in a statement on its website on Thursday, said it would commence flight operations on Friday (today). It added, “Ibom […]
The inability of the Federal Government to generate enough revenue to finance its operations had resulted in a N2.18tn financing gap of the 2018 budget. The 2018 budget, signed by President Muhammadu Buhari on June 20 last year, had total spending of N9.1tn. The capital expenditure was to gulp 31.5 per cent of the total […]
More calls are coming in support of the African Continental free Trade Area agreement, with one of the most recent calls emanating from the African Export and Import Bank. The Chairman and President, Afrieximbank, Benedict Oramah, made the call recently while addressing stakeholders in Kigali, Rwanda. He noted that although the major complaint about trading […]
The Federal Government has revoked the oil block licences of five companies, including a firm founded by late Chief Moshood Abiola. The Department of Petroleum Resources, in a public notice on Thursday, indicated that the licences were revoked as a result of legacy debts owed the federation by the affected firms. According to the DPR, […]
London’s main index rose as investors bet central banks would soon ease policy in response to concerns about global growth, though the rally was dampened after the European Central Bank delayed any potential interest rate hike to next year. The FTSE 100 rose 0.6 per cent. The mid-cap FTSE 250 gave up its earlier gains […]
An indigenous fashion business development agency, Style House Files, has announced collaboration with the SheTrades Commonwealth Project of the International Trade Centre to host X-Retail: SheTrades Edition. SheTrades is an initiative of the ITC that recognises the importance of women-owned businesses and aims to connect three million women to the market by 2021. X -Retail […]
Ecobank Transnational Incorporated, ETI, the parent company of the Ecobank Group,announced on Thursday that it had successfully tapped the international capital markets for an additional $50m in Eurobonds due April 2024. It said in a statement that the bonds would be consolidated and form a single series with the $450m 9.5 per cent issued in […]