Latest Nigeria Business News
The Federal Government has kick-started activities to mark Nigeria’s 59th Independence Day celebrations on October 1. Nigeria got independence from Britain on October 1 in 1960. Addressing reporters yesterday to announce activities form the celebration at the Radio House in Abuja, the Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, thanked God […]
The Independent National Electoral Commission (INEC) and Enough is Enough Nigeria (EiE) have partnered with the producers of political thriller, ‘4th Republic’ to screen the movie in communities and universities across Nigeria. News Agency of Nigeria (NAN) reports that the movie features Nollywood heavyweights Kate Henshaw, Eyinna Nwigwe, Bimbo Manuel, Linda Ejiofor, Yakubu Mohammed and […]
Oil prices eased on Tuesday as weak manufacturing data from Europe and Japan focused market attention on the gloomy outlook for demand and away from uncertainty around supply disruptions in Saudi Arabia. Brent crude futures LCOc1 fell 40 cents to 64.37 dollars a barrel by 0624 GMT, while U.S. West Texas Intermediate (WTI) futures CLc1 […]
The World Bank Group and the International Finance Corporation (IFC), have promised to continue to support Nigeria in bridging its infrastructure gap. The two organisations gave the commitment in a statement issued by the World Bank’s Senior Communications Office in Nigeria on Monday in Abuja. The World Bank Vice President for Africa, Mr Hafez Ghanem, […]
The anchor investor in the Benin Enterprise and Industrial Park would soon be moving into the facility. This is because Edo State government has finalised plans to invest the N2.1 billion that will accrue from its divestment of 50 per cent of its equity in Edo-Azura Power Project, into the park. In a statement, Special […]
Jumia has unveiled an online store in partnership with other top brands in Lagos. Speaking during the launch, Jumia Nigeria Chief Executive Officer (CEO), Juliet Anammah, said the Jumia Mall is dedicated to various brands on the website. She said: “This website helps consumers to find products that are 100 per cent authentic, to enjoy […]
Production and employment levels and raw materials inventories grew at a slower rate, while new orders and supplier delivery time grew at a faster rate in September 2019. The Central Bank of Nigeria disclosed this in its Purchasing Managers’ Index survey report for the month of September. The Manufacturing PMI in the month of September […]
The Federal Government will require about $100bn annually for the next 30 years to affectively tackle Nigeria’s infrastructure challenges, the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has said. A statement from the ministry on Monday reported the minister to have said this at a workshop on ‘Maximizing finance for development of […]
The banking sector recorded an increase of N82.35tn in electronic transaction from N56.31tn in 2015 to N138.66tn in 2018, figures obtained from the Central Bank of Nigeria have revealed. The cashless policy was first inaugurated in 2012, but was suspended in 2014 to allow more payment channels to be developed by Deposit Money Banks. But […]
NSIA Insurance Limited said that it paid over N3bn claims to its clients between the 2017 and 2018 financial period. A statement said it placed high value on integrity and professionalism, and paying claims promptly was part of its commitment to its customers. “Proof of this is the payment of N2.4bn in claims settlement to […]