Latest Nigeria Business News
The value of stocks traded on the floor of the Nigerian Stock Exchange dropped by 10.95 per cent to N16.69bn at the end of last week as market activity for the week saw a decrease. The market recorded a turnover of 1.097 billion shares worth N16.693bn traded in 14,717 deals last week, compared to the […]
The joint venture partners in the 35,000 barrels per day Oil Mining Lease 25 are to evaluate the damage done on OML 25, the Group Managing Director, Nigerian National Petroleum Corporation, Mele Kyari, has said. JV partners in OML 25 include NNPC and Shell Petroleum Development Company. NNPC’s boss recently brokered a peace deal on […]
The total non-performing loans in the banking sector stood at N1.44tn at the end of the second quarter of 2019. This is about 9.3 per cent of the total loans in the sector. Latest statistics revealed that the gross loans in the banking sector stood at N15.48tn in the period under review. The National Bureau […]
THE leadership of the Christian Association of Nigeria (CAN) on Friday threw its weight behind Vice President Yemi Osinbajo over the N90 billion allegations levelled against him by a former spokesman of the All Progressive Congress (APC), Timi Frank. National President of CAN, Rev. Supo Ayokunle, and its members yesterday visited Vice President (VP) Yemi […]
FOURTEEN of the candidates whose names were submitted to the Independent National Electoral Commission (INEC) for the November 16 governorship elections in Kogi and Bayelsa states were on Friday disqualified by the commission. The electoral umpire said their nominations were invalid. Nineteen other parties willingly withdrew from the polls, INEC National Commissioner and Chairman, Information […]
The Kano State Police Command, on Friday, quizzed three chieftains of the Peoples Democratic Party (PDP), over the alleged assault meted, on the Minister of Communications, Dr Ali Isa Pantami, at the Mallam Aminu Kano International Airport (MAKIA), by supporters, believed to be Senator Rabiu Musa Kwankwso’s loyalists. Pantami, who was in Kano for a […]
THE Federal Government has approved a N600 billion assurance facility for the power sector until June next year. The amount, which is contained in the 2020 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP), is as a result of the failure of the Power Sector Recovery Programme (PSRP). The document added that additionally, an […]
There were indications last night that the federal government was contemplating reporting Justice Taiwo Taiwo, to the National Judicial Council (NJC) on account of his decision to grant bail to the convener of #RevolutionNow protest, Mr. Omoyele Sowore. Justice Taiwo of the Federal High Court in Abuja admitted Sowore to bail on Tuesday and dismissed […]
The Infrastructure Concession Regulatory Commission has granted compliance certificates to 107 Public-Private Partnership projects in the country since the inception of the commission in 2008. The Director-General, ICRC, Chidi Izuwah, said this on Friday in Abuja during a press briefing on the forthcoming conference on strengthening women’s involvement in the PPP projects. Giving a breakdown […]
The Nigeria Union of Petroleum and Natural Gas Workers has frowned on the practice by international oil companies and their labour contractors to place workers on contract for three to 12 months and then keep rolling the contract over for many years. Addressing journalists in Lagos on Friday, the National President of the union, Williams […]