Latest Nigeria Business News
Crude oil prices varied sharply on Tuesday as Brent recorded a second drop in price for the week, while the commodity in the OPEC basket appreciated marginally. Brent dropped to $58.61 per barrel, based on oil price update as at 2.20pm Eastern Daylight Time on Tuesday, shedding $0.64. On Monday it lost $1.09 to close […]
The Central Bank of Nigeria has raised the Loan to Deposit Ratio of banks to 65 per cent, after the September 30 deadline given to the banks to meet its 60 per cent directive. The apex bank gave its regulated entities December 31, 2019 deadline to meet its new requirement. It noted that the credit […]
FORTY-FIVE per cent of Shell Petroleum Development Company’s (SPDC’s) interest in Oil Mining Lease (OML) 11 in Ejama and other communities in Ogoni have been acquired by the Rivers State government. Governor Nyesom Ezenwo Wike announced the acquisition yesterday in a broadcast titled: “We will continue to advance the state’s interest, security and prosperity of […]
The Ministry of Foreign Affairs said on Monday that the South African government had granted Air Peace’s request to commence commercial flights to Johannesburg, South Africa Mr Ferdinard Nwoye, spokesperson for the ministry made this known in a statement on Monday in Abuja. “The Ministry of Foreign Affairs wishes to inform that the South African […]
CONVENER of the #RevolutionNow protest Omoyele Sowore and a defendant, Olawale Adebayo Bakare (aka Mandate), were on Monday returned to the custody of the Department of State Services (DSS). A Federal High Court in Abuja ordered the remand after Monday’s proceedings and fixed Friday for the hearing of their bail application. The duo had been […]
The Federal Government on Tuesday celebrated the nation’s 59th independence anniversary at the Presidential Villa, Abuja. There was also Presidential change of guard from 177 guard battalion to 7th battalion of the guards brigade, marking the occasion at the forecourt of the State House. It was the highpoint of the week-long activities marking the anniversary. […]
In the spirit of the celebration of the 59th independence anniversary of the country, Oyo state Governor Seyi Makinde has called for a change of orientation on the part of all Nigerians by ensuring they put national interests first and above all what he described as “egocentric concepts” that negates the progress of the country. […]
AFTER announcing the injection of N22 billion seed capital into the creative industry, the Central Bank of Nigeria (CBN) on Monday gave the movie production and distribution a $10.7 billion growth target in the next five years. CBN Governor Godwin Emefiele who broke the news yesterday at the Creative Nigeria Summit in Lagos with theme: […]
THE Independent Petroleum Marketers Association of Nigeria (IPMAN) on Monday raised the alarm over imminent scarcity of petroleum products in the country. It warned that the fresh round of scarcity could only be averted if private depot owners settle the backlog of Petroleum Equalisation Funds (PEF) to the independent marketers. IPMAN Northwest Zone Chairman, Bashir […]
FRESH facts emerged on Monday on why the management of the Nigerian Ports Authority (NPA), decommissioned BUA Ports and Terminals Limited, operator of Terminal B, in Port Harcourt, Rivers State. Speaking at the quarterly stakeholders meeting organised by NPA in Port Harcourt, its Managing Director, Ms Hadiza Bala Usman said the agency, as a responsible […]