Latest Nigeria Business News
THE electricity generation companies (Gencos) said power generation which was 3,183.2megawatts (Mw) on Saturday dipped to 2,970.3Mw Sunday. The System Operation of the Transmission Company of Nigeria (TCN) from which The Nation got the hint, said the lowest generation on Saturday was 2,991.3Mw. While peak generation was 4,439.8Mw on Saturday, it declined to 4,321Mw. The […]
Minister of Finance, Zainab Ahmed, has said that Nigeria does not have a debt problem, despite misgivings amongst experts over the country’s rising debt profile. Ahmed, who decried what she termed ‘insensitivity’ concerning the country’s debt situation, said what Nigeria had at the moment was a revenue problem rather than debt challenge. She spoke at […]
The Central Bank of Nigeria and other lending institutions have agreed to seize the bank savings of customers that borrow money and refuse to pay back. They agreed that the deposits in the customers’ other banks’ accounts should be used to service the unpaid loans. This was part of the resolution at the 345th Bankers […]
Zenith Bank Plc has proposed an interim dividend of 30 kobo per share for the half-year ended June 30, 2019. The bank, in its half-year financial statement made available to the Nigerian Stock Exchange, reported an increase in its profit before tax to N111.68bn, compared to the N107.36bn recorded in the same period in 2018. […]
Equity investors have regained confidence in the nation’s stock market as they recorded gains totalling N351bn in five trading days. The market maintained a bullish trend for the three consecutive days last week, a turnaround from the persistent bearish performance observed for the past two to three months. The market capitalisation of equities increased to […]
Electricity distribution companies are expected to repay this year N34.05bn of the loan disbursed under the Central Bank of Nigeria-Nigeria Electricity Market Stabilisation Facility programme. The Nigerian Electricity Regulatory Commission disclosed this in its 2016-2018 Minor Review of Multi-Year Tariff Order 2015 and Minimum Remittance Order for Year 2019 for the Discos. In November 2014, […]
Academic activities began fully on Monday at the Ondo State University of Science and Technology, Okitipupa after a week-long nationwide warning strike. The News Agency of Nigeria reports that the week-long warning strike by Non-Academic Staff Union and the Senior Staff Association of Nigerian Universities had grounded activities in public universities nationwide from August 19 to […]
The Federal High Court, Abuja, on Monday, summoned the Attorney General of the Federation and the Economic and Financial Crimes Commission, to appear before it over plans to seize the property of the immediate past Governor of Zamfara State, Mr Abdulaziz Yari. Justice Nkeonye Maha, who gave the order after listening to the arguments canvassed […]
The Nigerian National Petroleum Corporation (NNPC) has said it recorded 77 per cent rise in cases of oil pipeline vandalism across the country in June. The corporation’s Monthly Financial and Operations Report (MFOR) for June said 106 pipeline points were breached, an increase from the 60 points vandalised in May. A statement yesterday in Abuja […]
The Kano state Government has spent over N300m within two months of the second term administration of Governor Abdullahi Umar Ganduje to boost water supply in the state. The new Managing director of Kano state Water Board, Engr. Garba Ahmed Kofar Wambai who revealed this to journalists said the Board is also targeting N300 million […]