Latest Nigeria Business News
The Minister of Aviation, Senator Hadi Sirika, says the liberalisation of Nigeria’s airspace has led to an annual traffic growth of eight per cent. The minister said the goal of the liberalisation was to make Nigeria the hub of West African sub-region. Sirika said the Federal Government planned to make air travel the preferred mode […]
The Transmission Company of Nigeria has asked the Nigerian Electricity Regulatory Commission to reset the books of power distribution companies in order to help clear the N270bn debt which the Discos owe the TCN. The TCN also declared on Friday in Abuja that it now had capacity to offset the $1.6bn loans it received from […]
Flood has displaced over 5,000 families in Ibaji Local Government Area of Kogi State. It destroyed property worth millions of naira. Mostly affected are communities close to the River Niger and Analo River, which overflowed their banks, submerging houses, schools and farmlands. Residents were forced to vacate their homes. Some of the victims raised wooden […]
Educated youths under the auspices of the Bayelsa Forward Movement (BFM) have declared support for the candidate of the Peoples Democratic Party (PDP) in the November 16 governorship elections, Douye Diri. BFM Coordinator Alfred Kemepado, and other leaders of the group, also promised to work against the candidate of the All Progressives Congress (APC), Chief […]
The Minister of Information and Culture, Alhaji Lai Mohammed has expressed optimism that the entire arbitration decisions and judgment debt of N9.6 billion against Nigeria by a UK court over a botched gas contract would be set aside. The Minister stated this in London while reacting to Thursday’s ruling by a UK commercial court staying […]
Authorities of the Ahmadu Bello University (ABU) in Zaria, Kaduna State have fired 15 lecturers over offences involving sexual harassment, negligence of duty and corruption in the institution. It was gathered that the lecturers were from different departments and faculties in the institution. A source, who prefers anonymity, said: “It is true that the Ahmadu […]
President Muhammadu Buhari has said Nigeria lost an estimated $157.5 billion to illicit financial flows between 2003 and 2012. He quoted the figure from the 2014 Global Financial Integrity Report in his address to the High-Level National Side-Event organised by the African Union Development Agency and New Partnership for Africa’s Development (AUDA-NEPAD) and the Economic […]
The Manufacturers Resource Centre, an arm of the Manufacturers Association of Nigeria, has said that it is not enough for manufacturers to produce products but there must be effective distribution and supply chain for the products to get to the market. This was the kernel of a stakeholders’ interactive session in an event organised by […]
President Muhammadu Buhari has said that $157.5bn was stolen from the country between 2003 and 2012. He blamed the illicit financial flows on corruption. Buhari spoke in New York at the high-level national side-event organised by the African Union Development Agency, New Partnership for Africa’s Development and the Economic and Financial Crimes Commission on the […]
The Central Bank of Nigeria has said that competition is expected to increase in the banking sector with entrance of the Payment Service Banks. The Director, Payments System Department, CBN, Mr Ademola Adeleke, said this while speaking on, ‘The implications of payments service bank in Nigeria,’ at the Chartered Institute of Bankers’ forum in Lagos […]