Despite directives from the Federal Government yesterday to suspend its plan to charge its customers for…
Category: Business
Read the recent business news in Nigeria and across the globe from Guardian Newspaper including analysis on financial market
Nigeria attracted $14bn foreign investments in H1 2019
Foreign investments inflows into Nigeria climbed to $14billion in half year 2019, signalling upswing in investors’ confidence,…
FG earmarks $1.61bn for 24-hour power supply
The Federal Government in collaboration with international donor agencies has set aside over $1.61 billion to ensure…
NNPC reiterates commitment to deliver value in oil and gas sector
The Nigerian National Petroleum Corporation (NNPC) has reiterated its commitment to deliver value across the entire…
GTBank posts N147bn Q3’19 PAT
Guaranty Trust Bank Plc has reported profit after tax of N147.989 billion for the nine months…
Nigeria owed N25.7 trn debt as at June 30 — DMO
The Debt Management Office (DMO), says as at June 30, Nigeria owes N25.7 trillion in debt both domestically…
Nigerians happy with border closure -Buhari
President Muhammadu Buhari has said Nigerians were happy with the decision of the government to close all…
See How border closure can benefit Nigeria’s economy
A Professor of Rural Sociology, Kolawole Adebayo, says Nigeria will benefit from the recent border closure…
South East traders renew call on Buhari for partial border closure
South East Amalgamated Markets Traders Association (SEAMATA) yesterday renewed its appeal on President Muhammadu Buhari to…
Air India becomes first airline to use Taxibot
India’s official carrier Air India on Tuesday became the first airline in the world to use…
NSE Market Indices Rebound by 0.09%
The Nigerian Stock Exchange (NSE) crucial market indicators rebounded by 0.09 per cent on renewed bargain…
Nigeria’s current condition shameful,unacceptable –Anambra farmer
Renowned multipurpose farmer in Anambra State, Prince Ugochukwu Okpalaeke, has said the failure of a country like Nigeria…
Govt receives 19 applications for tax holiday
The Federal Government has received 19 applications for tax incentive under the Industrial Development Income Tax…
Vodacom Scoops Multiple Awards
Vodacom Business Nigeria received multiple awards at the just concluded 3rd Nigeria Tech Innovation and Telecom…
Fuel supply figures: NNPC mulls end to secrecy
The Nigerian National Petroleum Corporation (NNPC) has declared plans to break the 42-year-old jinx of shielding…
Dollar steady as U.S-China trade talks spur caution
The dollar found support on Tuesday while investors awaited the outcome from crucial Sino-U.S. trade talks…
NCC makes NIN mandatory for new SIM registration
The Nigerian Communications Commission (NCC) has said that registration of new Subscriber Identity Module (SIM) cards…
DBN Advocates for More Women Entrepreneurs
With Nigeria’s 43.3 per cent unemployment rate, the Development Bank of Nigeria has urged Nigerian women…
CBN raises banks’ LDR to 65%
The Central Bank of Nigeria has raised the Loan to Deposit Ratio of banks to 65…
World Bank appoints new country director for Nigeria
The World Bank has appointed Shubham Chaudhuri as country director for Nigeria. Chaudhuri joined the Nigeria…
Absence of bid rounds in 12 years worsens revenue — Stakeholders
Except urgent steps are taken, indications are that the country could lose its place as a…
Why Vessels Avoid Eastern Ports — NPA Boss
The Nigerian Ports Authority, NPA, has said that the key reasons why vessels avoid using ports…
Cashless policy: NANS writes Emefiele, demand reversal within 72 hours
National Association of Nigerian Students (NANS) has joined the list of Nigerians that have condemned the…
GenCos threaten to shut down operations over FG’s 0.75% administrative charge
POWER Generation Companies of Nigeria (GenCos), at the weekend, vowed to declare force majeure on their operations …
OML 65: FG targets fresh $6.35bn taxes, royalties
The Federal Government, yesterday, declared its plan to increase royalty and taxes from the oil sector…
Saudi Arabia unveils damage done to its oil facilities
Saudi Arabia on Friday revealed extensive damage to key oil facilities following last Saturday’s aerial strikes…
Deposit Charge Only On Excess Limit – CBN
The Central Bank of Nigeria (CBN) says the charges on deposit and withdrawal on the savings…
Nigerian Naira Fast Becoming The Weakest Currency In Africa
South Africa: Rand 1= 79 Naira Angola: 1 kwanza = 12 Naira Botswana: 1 Pula =…
Nigeria Banks begin charges on deposits, withdrawals today
The Central Bank of Nigeria (CBN) has announced that it would begin to charge bank customers…
VAT increase, threat to Nigerian entrepreneurs, says Alakija
Executive vice Chairman of Famfa oil has described the planned increased of the Value Added Tax…
U.S. stocks edge lower as FedEx profit warning drags
U.S. stocks came under pressure on Wednesday after FedEx issued a profit warning, while investors waited…
Domestic interest in Nigerian bourse wanes
Domestic transactions in the Nigerian Stock Exchange (NSE) has declined by 66.68 per cent compared with…
Nigerians To Start Paying For Bank Deposits In 2020
The charges will attract three per cent processing fees for withdrawals and two per cent processing…
FG constitutes inter-agency taskforce on recovery of N5trn AMCON debt
The Federal Government has inaugurated an inter-agency committee to speedily resolve the challenges in recovering over N5…
Inflation Eases To 11.02% In August From 11.08%
The National Bureau of Statistics (NBS) on Tuesday said inflation rate in Nigeria has dropped to…
NNPC agrees to $2.5bn financing with Chinese lender
The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, says NNPC has agreed…
Dangote shuts Kano tomato plant again
Dangote Tomato plant in Kano has been shut again, six months after it resumed operations from…
FG to make N2 trillion in 2020 from increased VAT
When the Value Added Tax (VAT) recently increased to 7.2 per cent is implemented, it is…
$9.6bn gas deal: Nigeria goes for broke
Fresh indications emerged, yesterday, that the Federal Government is set to explore a loophole in the controversial…
LPG usage hit 78,000mt in July – PPPRA
The Petroleum Products Pricing Regulatory Agency (PPPRA) says that the utilisation of liquefied petroleum gas (LPG), also known…
South Africa likely to miss 1.5% growth target – Minister
because conditions have changed and the country is facing increasing headwinds, Finance Minister, Tito Mboweni, said…
Next Level. Nigeria’s Total Foreign Trade Rose To N8.603 Trillion
Nigeria’s total trade with its foreign trade partners rose to N8.603 trillion in the second quarter…
RoW, electricity challenges account for 70% of operators’ costs
Challenges posed by hike in Right of Way (RoW) remain unabated as 70 per cent of…
NSE market capitalisation rises by N142bn on post-election ruling
The Nigerian Stock Exchange (NSE) on Thursday, posted some positive trends on the back of last Wednesday’s…
The effect of 7.2% VAT on Nigeria economy
Some financial experts on Thursday said that Value Added Tax (VAT) increment by the Federal Government…
Oil prices fall after OPEC+ talks, ECB rate cut
Oil prices fell on Thursday after a meeting of the OPEC+ alliance yielded no decision on…
Buhari vows to tackle 77% rise in crude oil theft
President Muhammadu Buhari, has vowed to bring crude oil theft to its kneels by looking at…
Invest in agriculture rather than sports betting, group urges youths
The Nigeria Farmers Group and Cooperative Society (NFCGS) on Tuesday urged youths in Nigeria to invest…
Mobile network operators’ assets in Nigeria hit N1.95 trillion
Total assets base of mobile operators in Nigeria increased by 130 per cent between 2017, and…
2019 Abuja Int’l trade fair to feature 45 foreign companies – Chamber
The Abuja Chamber of Commerce and Industry (ACCI) says the forthcoming 2019 Abuja International Trade Fair…
NSE opens trading with 0.21%
The Nigerian Stock Exchange (NSE) reopened for the week on Monday still on a bearish trend,…
Banks borrowed N1.4trn from CBN in July
Deposit Money Banks (DMBs) in the country borrowed the sum of N1.4 trillion from the Central…
CBN to ABCON: Play greater role in BDC sub-sector
The Central Bank of Nigeria (CBN) has advised the Association of Bureaux De Change Operators of…
Revelation of a millionaire fish farmer
A 50-year old civil servant, Mrs Magdalene Suleiman, on Saturday, said she had made millions of…
MNOs’ investments in base stations hit N1.2trn
Mobile Network Operators (MNOs) in the country have so far invested approximately N1.2 trillion in building…
NSE reclassifies Oando shares as Low-Priced Stock
The Nigerian Stock Exchange on Thursday announced the reclassification of Oando Plc from Medium Priced Stock…
CBN to give N1.5bn loan to Plateau under agric. development scheme
The Central Bank of Nigeria is to give a loan of N1.5 billion to Plateau under the Accelerated Agriculture Development…
Good News For Glo: MTN closes shops in Nigeria
Telecommunications giant, MTN, has announced the closure of all its shops in Nigeria. This may not…
Economy still in bad shape as GDP growth grinds to 1.94%
The nation’s Gross Domestic Product (GDP) lost steam in the second quarter (Q2) of 2019, against…
Nigeria’s economic growth slows down in second quarter
Nigeria’s economy grew year-on-year in the second quarter of 2019 by 1.94%, riding on the back…