Latest Nigeria Business News
The Nigerian National Petroleum Corporation said on Monday that it had become increasingly difficult to make investment decisions in oil and gas projects in Nigeria. The Group Managing Director of NNPC, Mr Mele Kyari, said issues associated with fiscal regime would have to be addressed in order to accelerate investment across the value chain. Kyari […]
The equities market opened the week on a positive note as gains in Dangote Flour Mills Plc and 17 other stocks pushed the market higher. Investors gained N19bn as the market capitalisation of equities increased from N13.465tn on Friday to N13.484tn on Monday. Analysts said the positive performance could be attributed to major price appreciation […]
The international oil benchmark, Brent crude, extended its decline on Monday, trading below Nigeria’s $60 per barrel budget benchmark. Brent, against which Nigerian crude oil is priced, dipped by $2.10 to settle at $59.79 per barrel as of 7.45pm Nigerian time. It plunged to around $61 per barrel last Thursday from $65 on Wednesday. The […]
Four men have been arraigned before two Magistrates’ Courts in Lagos for an alleged N1.758,000 theft. Two were arraigned before an Ikorodu Magistrates’ Court for allegedly stealing 17 prepaid meters worth N850,000. They are Ogunsola Caleb, 51, and Ovie Clifford, 40. Two traders, Sikiru Oladunmoye, 43, and Isah Mohammed, 40, appeared separately, before an Ikeja […]
President of Ekitiparapo Association, Lagos State Chapter Mr. Dare Ojo has urged the state government to tackle insecurity headlong. In a statement, titled: “Security emergency in Ekitiland: The need for commensurate action”, he said the issue of insecurity had been brought into the front-burner with the incessant cases of kidnapping, killings, arson, and other crimes.” […]
The revolution march tagged: #RevolutionNow being spearheaded by the presidential candidate of the African Action Congress (AAC) Omoyele Sowore drew reactions on Sunday from notable Nigerians and groups. Prof Wole Soyinka disagreed with security agencies that the planned march amounted to treason. He said there was nothing treasonable in it. The literary giant accused the security agencies […]
Ahead of Monday’s ruling on Sheikh Ibrahim El-Zakzaky’s application for medical leave by a Kaduna High Court, the Kaduna State Government has assured citizens of security and free movement. This was contained in a statement by Samuel Aruwan, the Commissioner, Internal Security and Home Affairs, made available to the News Agency of Nigeria (NAN) on […]
The Pension Transitional Arrangement Directorate says it has paid a total of N3.37bn to pensioners that worked in187 agencies. It also announced that it paid the sum of N1.02bn outstanding severance benefits to 1,596 verified eligible ex-workers and next of kin of deceased ex-workers of Savannah Sugar Company Limited. According to PTAD, the development was […]
The Asset Management Corporation of Nigeria has taken over Bao Yao Futurlex Iron & Steel Company Limited in Abuja and Bao Yao Huan Jian Iron & Steel, Calabar, Cross River State. This follows an order by Justice B.F.M. Nyako of the Federal High Court. “The order therefore mandates AMCON to take over all the assets […]
The Nigerian National Petroleum Corporation (NNPC) has attributed the increased in the price of household Kerosene in the country to the pressure of demand and supply. The NNPC Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, told the News Agency of Nigeria (NAN) on Sunday in Abuja that the price of the product […]