The Federal Government and the Organized Labour, on the completion of the two weeks suspension of electricity tariff have resolved to provide tariff relief of N10.20 per kilowatt hour for Nigerians for... Read more »
The index in Tuesday’s report revealed that the IGR of Lagos State, put at N204 billion, is higher than that of at least 29 states put together. The quartet of Lagos, Rivers,... Read more »
A former President of the Nigerian Bar Association (NBA), Olisa Agbakoba (SAN) has disclosed that Nigeria is losing N20b daily at the nation’s ports, which amounts to N7.2tr yearly. He said a... Read more »
The pump price of petrol may reduce marginally this month, going by the fall in global crude oil prices, oil marketers said on Sunday. According to them, since the cost of petrol... Read more »
Oil prices slumped by about three per cent yesterday, hours after the President of the United States, Donald Trump announced that he tested positive for COVID-19. Trump tweeted news of his positive... Read more »
As Nigerians grapple with the recent increase in electricity tariff, the Federal Government, Tuesday, in Abuja, said a coordinated approach is being planned to de-risk and optimize renewable energy investment, especially for... Read more »
First Bank of Nigeria Limited, a leading financial inclusion services provider, recently announced that loans in excess of N17 billion had been disbursed to individuals, across the country. The loan disbursement is carried-out... Read more »
The stock market sustained its bullish trend yesterday as buying interest in bellwethers such as Dangote Cement Plc, MTN Nigeria Communications Plc and Guaranty Trust Bank Plc drove indicators to new highs.... Read more »
Citing the over 33 fertiliser blending plants across the country, currently producing about five million metric tonnes (MT) of fertilizer annually, with many more underway, the Minister of Agriculture, Sabo Nanono, has... Read more »
President Muhammadu Buhari has ordered the reduction of the cost of fertilizer from N5,500 to N5,000 naira per bag. The reduction was announced by the Vice Chairman of the National Food Security... Read more »
The Central Bank of Nigeria (CBN), yesterday, lowered the Monetary Policy Rate (MPR) by 100 basis points from 12.5 per cent to 11.5 per cent. It, however, retained the Cash Reserve Ratio... Read more »
Although the Nigerian National Petroleum Corporation (NNPC) and Department of State Services (DSS) intervention has forestalled the tanker owners warning strike, stakeholders have raised concerns over the policy on haulage of petroleum... Read more »
The Livestock Industry Foundation for Africa (LIFA), a non-profit organisation whose obejectives are geared towards rural development and transformation amongst rural farmers, has been called upon to collaborate with stakeholders on animal... Read more »
The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mele Kolo Kyari, said yesterday that the federal government removed subsidy on Premium Motor Spirit (PMS) also known as petrol... Read more »
The Organisation of Petroleum Exporting Countries (OPEC) has said oil demand growth in China is currently the only certainty for rebound, with consumption in the country rising through the remainder of 2020,... Read more »
Oil and gas marketers as well as fuel users were on Monday excited at the move by the Federal Government to convert cars and generators in the country to run on gas.The... Read more »
World Bank on Monday said the Nigerian central bank needs to step up efforts to ease pressure on the foreign exchange market to meet the high demand for hard currency in the... Read more »
The Nigerian Electricity Regulatory Commission has said the power distribution companies will be liable to capacity charge for failure to take their entire load allocation caused by constraints in their networks. NERC... Read more »
Production of cocoa as cash crop has dropped due to inadequate financing, among other factors. This is despite that cocoa is the nation’s leading cash crop in terms of export and second... Read more »
Nigeria’s total public debt stock increased from N28.628 trillion ($79.303 billion) as at March 31, 2020 to N31.009 trillion ($85.897 Billion) by June 30, 2020, according to latest statistics released by the... Read more »
The attention of the Central Bank of Nigeria (CBN), has been drawn to a recent press release titled “Matters of Urgent Attention” by the Nigerian Economic Summit Group (NESG), which calls into... Read more »
Traders associations in Abuja have said the recent hike in the two major facilitators of economic activities will greatly impact on the family with serious consequences. National President, Association of Women in... Read more »
The Naira on Thursday gained one point to appreciate against the dollar at the parallel market in Lagos. Akelicious reports that the Naira exchanged at N439 to a dollar at the parallel... Read more »
The Board of Polaris Bank Limited and Asset Management Corporation of Nigeria (AMCON), the Bank’s shareholder, have announced the appointment of Mr Innocent Ike, as the Acting Managing Director/CEO of Polaris Bank Limited,... Read more »
The leading pan-African banking group, Ecobank, has announced that it has won the Award for Innovation in Financial Services at the 2020 edition of the prestigious African Banker magazine Awards. The Awards,... Read more »
The Central Bank of Nigeria (CBN) yesterday, announced that it will commence sales of dollars to Bureau de Change (BDC) operators next week to enable travellers have more access to foreign exchange ... Read more »
The domestic bourse halted its bullish run on Thursday to record first loss in six consecutive trading sessions. Consequently, market capitalisation shed N13 billion to close N13.201 trillion against N13.214 trillion achieved... Read more »
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), has appealed to the Federal Government to ensure urgent passage of the Petroleum Industrial Bill (PIB). Mr Ndukaku Ohaeri, PENGASSAN President, who made... Read more »
Following the directive by the Central Bank of Nigeria’s (CBN) to authorized dealers to only open Forms M (a mandatory statutory document to be completed by all importers in Nigeria) for payments... Read more »
Analysts yesterday called on the federal government to urgently introduce measures to reflate the economy. With the 6.10 per cent contraction in the GDP for Q2 2020, compared to a growth rate... Read more »
Nigeria’s Gross Domestic Product (GDP) growth rate contracted by –6.10 per cent in the second quarter of 2020, a report by the National Bureau of Statistics (NBS) said on Monday. Details of the Nigerian... Read more »
This development was coming as NNPC, Akwa Ibom State Government and an American private equity investor have secured investment commitments worth more than $10 billion with the potential to create more than... Read more »
ForSage is a smart contract platform built on an Ethereum Blockchain. It’s a global community that has turned poor people into Millionaires and the Millionaires into billionaires. What is Forsage in Nigeria... Read more »
The Standards Organisation of Nigeria (SON) says it has developed new standards for animal and livestock feeds value chain to support Federal Government efforts in achieving food security. Mr Osita Aboloma, Director-... Read more »
The GSI, whose implementation commenced this month, gives banks the power to debit loan and accrued interest due from bank accounts of loan defaulters across the Nigerian banking system. The Nigerian Interbank... Read more »
Japan’s economy shrank a record 7.8 percent in the April-June quarter, the worst contraction in the nation’s modern history, data showed Monday, as the coronavirus deepens the country’s economic woes. The contraction... Read more »
Ikeja Hotel Plc has recorded revenue of N7.327 billion in its 2019 operations, against of N7.249 billion achieved in the corresponding period in 2018. Addressing shareholders at the 43rd yearly general meeting... Read more »
ExxonMobil has announced the appointment of Richard Laing, as the new chairman and managing director of the company in Nigeria with effect from August 1, 2020. The disclosure was made in a... Read more »
The attention of Stanbic IBTC Bank PLC (“the Bank”) has been drawn to a publication by various online media, which purports to indicate that Ascon Oil Limited (“Ascon”) ‘retook possession’ of a... Read more »
The devastating effect of COVID-19 on critical sectors of the economy may shrink profit of quoted companies and negatively impact dividend pay-out by as much as 60 per cent. In Nigeria, lockdowns... Read more »
The four refineries owned by the Federal Government made a total loss of N406.62bn in two years, the latest audited financial statements of the plants have shown. The refineries, which are located... Read more »
The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has directed petroleum tanker drivers in Lagos State to withdraw services indefinitely from Monday, August 10 over failure of state government to... Read more »
Fuel scarcity is imminent, as the Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, has ordered fuel tanker drivers to withdraw their services in Lagos beginning from Monday. According to the... Read more »
Financial Institutions, especially the banks, currently owed telecommunications operators about N17 billion in unpaid Unstructured Supplementary Service Data (USSD) rendered by them on the service providers network platforms. This was made known... Read more »
The Independent Petroleum Marketers Association of Nigeria (IPMAN) is awaiting signals from thePetroleum Products Pricing Regulatory Agency (PPPRA) to jack up the pump price of petrol from the present N143.80. IPMAN warned... Read more »
Less than 24 hours after Air Peace disengaged about 75 pilots, another aviation company, Bristow Helicopters has also disengaged over 100 of its pilots and Engineers. On Monday, Air Peace Airline, sacked... Read more »
The United Bank for Africa Plc (UBA) has acted as the lead arranger of a consortium of Nigerian commercial and international banks in a $1.5 billion Pre-export Finance Facility for the Nigerian... Read more »
American tech company, Apple has become the most valuable company in the world on Friday after posting blockbuster quarterly earnings that sent shares of the technology company up as much as 7%.... Read more »
MTN Nigeria Plc has recorded a profit after tax of N94.88bn for the half-year ended June 30, 2020 as against N99.537bn reported in 2019, accounting for a drop of 4.7 per cent.... Read more »
The federal government has signed a $1.5 billion prepayment deal with Standard Chartered and backed by oil traders Vitol Group and Matrix Energy. The Nigerian National Petroleum Corporation (NNPC) signed on behalf... Read more »
The NNPC has signed a $1.5 billion prepayment deal led by Standard Chartered and backed by oil traders Vitol Group and Matrix Energy. It was the first such agreement since the COVID-19... Read more »
Following price gains by most blue-chip stocks, especially Unity Bank, and Guaranty Trust Bank (GTB), transactions on the equities sector of the Nigerian Stock Exchange (NSE), reopened upbeat yesterday, as market capitalisation... Read more »
The Nigerian High Commission in the UK has announced the closure of Air Peace evacuation flight from UK scheduled for August 8, as all seats on the aircraft are fully booked. The... Read more »
Five million Nigerian youths have so far applied for 400,000 N-Power jobs, with the deadline for the current Batch C online application extended to August 8. The Minister of Humanitarian Affairs, Disaster... Read more »
The Naira on Monday gained marginally to the dollar at the Investors and Exporters (I &E) window closing at N389.25 to a dollar as against N389.50 posted on Friday. Trading at the... Read more »
The federal government thursday dismissed insinuations that political consideration was inhibiting it from determining electricity tariffs. It noted that rather, Distribution Companies (Discos) were responsible for setting the tariffs after consultations with... Read more »
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has said the federal government has identified new revenue initiatives that could fetch it between N13 trillion and N18 trillion from... Read more »
Guaranty Trust Bank (GTBank) Plc has won the Euromoney Excellence in Leadership Africa Award, a premier award category set up to recognise Banks around the world who are playing pivotal role in... Read more »
The Lower Anambra Irrigation project sponsored by the Africa Development Bank (AfDB) under the Agricultural Transformation Agenda support Programme of the Federal Government at Ifite Ogwari, Ayamelum Council Area of the state... Read more »
The monetary policy committee of the Central Bank of Nigeria (CBN) has announced its decision to retain the monetary policy rate (MPR) at 12.5 percent. Godwin Emefiele, governor of the apex bank,... Read more »