Latest Nigeria Business News
The Nigerian Sovereign Investment Authority (NSIA), also known as the Sovereign Wealth Fund, has resuscitated 11 fertilizer blending plants across the country, which substantially brought down the price of fertilizer, ended fertilizer subsidy and ensured the availability of the commodity. The Fund’s Managing Director Uche Orji disclosed this in Abuja, while receiving the Minister of […]
Acting President, Professor Yemi Osinbajo has unveiled five Super Mushshak trainer aircraft acquired by the Government from to boost the capacity of Nigeria Air Force, NAF, personnel. The five aircraft are among the 10 acquired by the government from Pakistan. Professor Osinbajo said Nigeria would welcome more support from friendly Nations in its efforts to defeat Boko […]
Stock markets across the globe are set for a devastating crash as a “supervolcano” is ready to erupt, a major investment expert has said. The expert, Barry James, said the global market was “upside down” and in the “latter stages” of an economic meltdown. In a flashing red warning, share valuations have soared to their […]
The Nigerian Export Promotion Council is seeking the support of Nigerians in the Diaspora to boost the country’s non-oil exports. The Executive Director, NEPC, Mr. Segun Awolowo, stated this on Monday in Abuja during a meeting with members of the Nigerian Initiative Economic Development. The NIED is made up of Nigerian-Americans who are currently in […]
The Nigerian Meteorological Agency has signed a memorandum of understanding with Trans-African Hydro-Meteorological Observatory of Netherlands to develop a network of automatic weather stations across the country. It said the collaboration would be for five years in the first instance, adding that it was aimed at advancing TAHMO’s vision to improve sub-Saharan Africa’s capacity for […]
The Central Bank of Nigeria on Monday boosted the Foreign Exchange market by $195m intervention in three segments of the market. The Acting Director, Corporate Communications Department of CBN, Mr Isaac Okorafor, in a statement on Monday said, “In the wholesale segment of the inter-bank foreign exchange market, the bank auctioned $100m and also intervened […]
The Federal Government on Monday announced that commercial activities will begin on the Itakpe-Ajaokuta-Warri rail line in June next year. According to the government, the rail line connecting about five states has been abandoned for over 30 years. The Minister of Transportation, Rotimi Amaechi, told journalists during an inspection tour of rail lines that the […]
As part of an effort to improve digital literacy among children, Sterling Bank Plc says it has opened a summer camp in Lagos to expose kids to coding language during the summer holidays. The fun-filled summer camp, which is being organised in collaboration with Audax Code School, is aimed at improving digital literacy through coding […]
Lafarge Africa is consolidating its operations on the continent to simplify its ownership structure and activities, the Head of Strategy, Wole Adeleke, has said. He said on Monday that the decision was made three years ago after Lafarge combined its Nigerian business with its South African operations and listed the combined entity, which it renamed […]
May & Baker Nigeria Plc said its profit before tax rose by 215 per cent to N139.5m in its half-year financial result of 2017, from N44.2m recorded in the corresponding period of 2016. According to a statement obtained from the firm on Monday, the firm’s operating profit also rose by 57 per cent. The firm […]