Latest Nigeria Business News
NO fewer than 35 saloon cars worth N350m were said to have been won out of the 43 on offer in the extended on-going Dangote Cement national consumer promotion tagged “Bag of Goodies.’ The Group Managing Director of Dangote Cement Plc,Joseph Makoju, said this in Makurdi while presenting the star prize to a mason, Clement […]
The Federal Executive Council has approved N5.4bn for the construction of oil and gas parks and indoor shooting range for aviation security. The Minister of State for Petroleum, Chief Timipre Sylva, spoke on the oil and gas project while the Minister of Aviation, Hadi Sirika, talked about the aviation security projects. They spoke to State […]
Dangote Petroleum Refinery and Petrochemicals Company has empowered 200 youths from Ibeju-Lekki community in Lagos State with vocational skills. The beneficiaries have undergone various skills acquisition programmes organised by the firm and facilitated by the National Directorate of Employment and the Nigerian Content Development and Monitoring Board. According to a statement, the skills acquisition programmes […]
AIICO Insurance Plc says it has received shareholders’ approval to increase its authorised share capital from N10bn to N18bn. A statement from AIICO said this was in line with the company’s preparedness to meet the new minimum capital requirement for the insurance industry. It stated that at its extra-ordinary general meeting, the shareholders supported the […]
Ikeja Electric Plc and Ikeja GRA Residents Association have signed a power purchase agreement that will enable the estate to have up to 24 hours of supply daily. The contract entails that the IE will invest in electricity infrastructure in the estate as well as provide reliable and quality electricity supply to the residents, while […]
Access Bank says its expanded digital lending portfolio has given Nigerians quick and 24/7 access to funds for emergencies without any collateral, and has hit N1bn daily in loan value. The Executive Director, Retail Banking, Access Bank Plc, Victor Etuokwu, said in a statement, “We are at the forefront of digital lending across the continent. […]
Oil rose about 1.4 per cent on Wednesday, gaining support due to signs that the Organisation of Petroleum Exporting Countries and allied producers will continue to curb supplies in December, a weaker United States dollar and as traders covered short positions ahead of an industry report on US crude inventories. Brent crude LCOc1, the global […]
Immediate past governor of Lagos State, Mr. Akinwunmi Ambode, on Tuesday failed again to appear before the State House of Assembly Ad-hoc Committee probing the activities of the last administration, especially the purchase of the 820 buses for its mass transit programme. The 16-man committee is chaired by Hon. Fatai Mojeed. Also absent was the […]
THE foreign exchange restrictions placed on 43 items by the Central Bank of Nigeria (CBN) on Tuesday drew criticism from the International Monetary Fund (IMF). The policy is holding back Foreign Direct Investments (FDIs) into the local economy, IMF’s Divisional Chief, Research Department, Oya Celasun, told a news conference on the World Economic Outlook at […]
President Muhammadu Buhari has received the International Civil Aviation Organisation (ICAO) certificate for improved aviation security in the country. The Minister of Aviation, Hadi Sirika, briefed State House correspondents yesterday after presenting the certificate to the President at the Presidential Villa in Abuja. The minister said Nigeria was among 16 countries, which had recorded improved […]