Latest Nigeria Business News
THE acting Director-General of the National Pension Commission, Aisha Dahir-Umar, says the total pension assets in Nigeria rose from N7.44tn in January to over N9tn as of March. Dahir-Umar attributed the boost in the pension assets to the support of the organised private sector and labour. The Pencom DG, who was represented by Salihu Bwala, […]
The nation’s equities market sustained its gaining streak as the All Share Index advanced by 1.01 per cent to settle at 27,426.64 basis points while the market capitalisation increased from N13.210tn to N13.351tn. The year-to-date loss further eased to –12.7 per cent. Activity level waned as volume and value traded fell by 45.5 per cent […]
Minister of State for Petroleum Resources, Timipre Sylva, says that Nigeria will cut down on its crude oil production to comply with the targets set by the Organisation of Petroleum Exporting Countries. Slyva gave the assurance at the 16th Joint Ministerial Monitoring Committee (JMMC), meeting in Abu Dhabi, United Arab Emirates. The Minister, in a statement […]
Kwara state Governor AbdulRahman AbdulRazaq has congratulated President Muhammadu Buhari on his well-deserved victory at the presidential election tribunal. “Given the unprecedented margin of victory that Mr. President recorded in our state, Kwara, and the very glaring acceptability of his candidature across the country, I have always known that any legal challenge to his victory […]
A Federal High Court in Lagos on Wednesday cleared a former Cross River State Governor Donald Duke of his N537,334,360.77 debt to Asset Management Corporation of Nigeria (AMCON). This followed the payment of N350 million as final settlement to the Federal Government agency. The court discharged its August 21 interim order, which permitted AMCON and […]
President of the Senate, Ahmad Lawan, has congratulated President Muhammadu Buhari and the All Progressives Congress (APC) on the president’s victory at the Presidential Election Petition Tribunal. The tribunal on Wednesday dismissed the petition by the Peoples Democratic Party and its candidate, Atiku Abubakar, in its entirety. Lawan in a statement on Wednesday by his […]
The Cross River Governorship Elections Petition Tribunal sitting in Calabar has affirmed the victory of Ben Ayade of the Peoples Democratic Party (PDP). Ayade described the tribunal judgement as a mere reaffirmation of his resounding victory at the March 9, 2019 governorship poll. The governor, who spoke through his Special Adviser on Media and Publicity, […]
The Organization of Petroleum Exporting Countries, OPEC on Wednesday cut its forecast for growth in world oil demand in 2020 due to an economic slowdown. In a monthly report, OPEC said oil demand worldwide would expand by 1.08 million barrels per day, 60,000 bpd less than previously estimated, and indicated the market would be in […]
THE Central Bank of Nigeria (CBN) has warned would-be beneficiaries of the N600billion power sector intervention fund that the disbursement of the fund will be based on the accountability system of distribution companies (DisCos) which is driven by their performance through revenue remittance. The apex bank, according to the Nigerian Electricity Regulatory Commission (NERC), has […]
Ikeja Electric Plc (IE) has introduced electronic billing (e-billing) platform, which enables customers to receive electricity bills promptly and conveniently, via channels, such as SMS, USSD, email, IE Bill portal and IE mobile Application. The e-billing initiative is part of the firm’s desire to leverage innovation and technology to improve customer experience. It is designed […]