Latest Nigeria Business News
The share price of Oando Plc rebounded on Thursday, the first day of trading after the court granted the firm an injunction restraining the Securities and Exchange Commission from executing sanctions imposed on it. The company emerged the sixth biggest gainer as its share price rose by 5.26 per cent to N4. It lost 9.52 […]
The West Africa Container Terminal (WACT) , Onne Port, Rivers State, has said that it is preparing to take delivery of two new mobile harbour cranes from Liebherr, as part of a $10 million upgrade project. The upgrade will bring WACT, which is not just the biggest but also the most efficient container terminal outside […]
Azuri Technologies plans investing $26 million on production of solar energy in Nigeria, its Chief Executive officer, Simon Bransfield, has said. He said the firm is investing the money in conjunction with Fortune Global 500 Company Marubeni Corporation, FTSE 250 Company IP Group plc and others, adding that the development would help in improving the […]
RISING dollar inflows through the Investors’ and Exporters’ (I&E) Forex Window and foreign reserves accretion have stabilised the naira in the official and parallel markets. The I&E Forex Window has attracted $48 billion to the economy in 24 months, the Central Bank of Nigeria (CBN) showed in its updated report on the dollar inflows. The […]
CRUDE prices trended lower on Thursday after the Energy Information Administration (EIA) reported a weekly build in crude oil inventories at 6.8 million barrels. Brent crude traded at $61.35 a barrel while West Texas Intermediate (WTI) traded at $52.62 a barrel. WTI had fallen to a session low of $50.66 after the report, the lowest […]
Fund laundered by former Nigerian dictator and Army General, Sani Abacha, has been seized from a bank in Jersey, Channels Islands by a British court. The money worth £211,000,000 was put into accounts held in Jersey by Doraville Properties Corporation, a British Virgin Island company. The money will be held by the government until authorities […]
The Nigerian Shippers’ Council may soon end the payment of Container Deposits. Container deposit is a refundable amount charged by a shipping company payable by a shipper for the use of the item but which acts as a guarantee against damage, theft or detention. This charge is often imposed because containers are valuable properties cherished […]
The Niger Delta Development Commission says it will soon complete ongoing pilot power projects built for communities in Rivers State. The commission listed Ubima community and several other unnamed communities in Ikwerre Local Government Area as communities to benefit from the power project, according to the News Agency of Nigeria. NDDC’s Managing Director, Prof. Nelson […]
Stocks climbed on optimism that Mexican tariffs will be avoided, while Treasury yields fell as data bolstered rate-cut wagers. Oil entered a bear market after U.S. supplies jumped the most in almost 30 years, according to Bloomberg. The S&P 500 Index rose a second day as President Donald Trump said Mexico wants to make a […]
Workers of the Revenue Mobilisation Allocation and Fiscal Commission have disagreed with the management of the organisation over the use of consultants to probe banks for failure to remit all they collect on behalf of the government agencies in charge of taxes and levies. The workers had staged protests for two days last week where […]