Mr Dokun Olatunde, the Executive Director of Self Reliance Economic Advancement Programme (SEAP), has urged the…
Category: Business
Read the recent business news in Nigeria and across the globe from Guardian Newspaper including analysis on financial market
Nigeria Banks to increase CBN deposit as MPC raises CRR to 27.5%
Deposit money banks in the country would have to increase their cash reserves with the Central…
Fuel Subsidy May Rise As Marketers Demand Higher Margins
The Federal Government may have to spend more on petrol subsidy as oil marketers in the…
IMF Holds Nigeria’s 2020 Growth Projection at 2.5%
The International Monetary Fund (IMF) in its World Economic Outlook (WEO) released yesterday, has projected that…
Global FDI declines to $1.39 trillion, says UN
United Nations Conference on Trade and Development (UNCTAD), has said global foreign direct investment (FDI) remained…
Fuel supply: FG pleads with border communities
The Federal Government has pleaded with residents of border communities in Ogun State to have patience …
Nigeria debt has risen to ₦26.215 trillion
The Debt Management Office says Nigeria’s total public debt as of September 2019 stood at N26.215…
New VAT kicks off February 1
Minsiter of Finance, Budget and National Planning, Mrs Zainab Ahmed on Thursday disclosed that the implementation of…
Aliko Dangote Plans U.S. Office to Help Diversify Wealth
Aliko Dangote, Africa’s richest man, plans to take office space in New York to help diversify…
FG withdraws $2bn tax claim against MTN
MTN Nigeria yesterday disclosed its legal counsel has received a letter dated January 8, 2020 from the…
NNPC, Russia partner on gas, power projects
Efforts to deepen investments in upstream gas and power sectors crystallized on Friday as the Russian Federation…
No Light For A Month Yet PHEDC Brings Bill Of Zero Naira
Today, I was shocked to receive regular electricity bill for the month of December 2020 despite…
Growth in developing economies, emerging markets to hit 4.1%
Growth in emerging market and developing economies is expected to accelerate this year to 4.1 per cent.…
Market cap gets N1.18trn boost as BUA Cement lists shares
Following the listing of BUA Cement shares, the market capitalisation of the Nigerian Stock Exchange (NSE) rose…
UBA Recruits 4000 New Staff, Promotes Over 5,000 Staff members; increases Salaries Up to 170%.
The staff and management of one of the biggest and most successful bank in Africa, United…
Transactions on NSE up by 66%
The volume of transactions on the floor of the Nigerian Stock Exchange (NSE) rose by 66.2 per…
Oil Price: FG Revenue Shrinks As Petrol Subsidy Rises
Lower amounts of revenue might be available for sharing by the three tiers of government through…
PENGASSAN, Chevron disagree over welfare issues
Members of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Chevron Branch, yesterday…
AIB Probes Turkish Airlines’ Incident At Port Harcourt Airport
The Accident Investigation Bureau (AIB) has commenced investigation into the serious incident involving Turkish Airlines, which…
Aliko Dangote’s Net Worth Grows To $14.8bn
It has been revealed that the net worth of Africa’s richest man, Mr Aliko Dangote, grew…
Nigerians’ Incomes Will Shrink In 2020 – Rewane
The disposable incomes of Nigerian consumers will be squeezed by the proposed increase of Value Added…
58 US Companies in Nigeria Spent N1.9bn on CSR in 2018
The American Business Council (ABC) has revealed that over 58 US companies operating in Nigeria spent…
Why NNPC will not go public despite losses
At a time when national oil companies across the world are launching Initial Public Offerings (IPOs)…
Longrich Store, Longrich Mart Launches in Nigeria
Online store selling exclusively Longrich products, Longrich Mart has announced its launch in Nigeria. Nigerians can…
$600m Steel Plant Will Be Nigeria’s Highest Non-oil FDI – Gupta
√ 5.4m tones of Iron Ore √ 36 megawatt powerplant All part of the $600m steel…
Minister asks Amobi, NBET MD, to step down
Sale Mamman, minister of power, has asked Marilyn Amobi, managing director of the Nigerian Bulk Electricity…
FG stops N50 charge on POS transactions
The Federal Competition and Consumer Protection Commission on Tuesday stopped the additional N50 charge being imposed…
Nigeria’s economy under siege over bad government choices
The country’s quest to overcome growth and development challenges will remain a mirage as government continues…
CBN slashes ATM withdrawal fee to N35
In an effort to deepen financial services accessibility to various stakeholders, the Central Bank of Nigeria (CBN)…
West African nations to reform and rename joint currency
The French-backed West African CFA franc currency will be reformed and renamed the “eco,” in what…
Afrexim Bank pledges to support Southeast development
The pan-African multilateral trade finance institution, African Export-Import Bank (Afreximbank) has said it would support the implementation…
Border closure: Fuel consumption has dropped by 70% in Adamawa, says DPR
Ibrahim Ciroma, Adamawa state operations controller of the Department of Petroleum Resources (DPR), says the number…
Allocation to FG, states, LGs drops by N66bn
The Federation Account Allocation Committee on Wednesday allocated the sum of N635.82bn to the three tiers…
Recapitalisation: SEC urges insurers to exploit opportunities in capital market
With six months left for the insurance sector 2020 recapitalisation deadline, the Securities and Exchange Commission (SEC)…
Hyundai Manufacturing Plant Proposal: What Happened To Innoson Motors?
Nigeria custom service(NCS) closed Nigeria borders for goods not to enter the country hoping we can…
Fiat Chrysler, Peugeot finalise merger deal
Fiat Chrysler and Peugeot maker have reached a binding agreement of roughly $50 billion merger that will reshape…
Turkish Airlines Fixes Tomorrow as Deadline to Return Passengers’ Baggage
Following the threat to suspend its operations to Nigeria by the Nigerian Civil Aviation Authority (NCAA),…
Workers’ Strike Cuts Power Supply to 2,828MW
As businesses and individuals count the cost of last week’s strike by electricity workers, records obtained…
Dangote Petroleum Refinery to save Nigeria in excess of $11b
Minister of Finance, Budget & National Planning, Zainab Ahmed said Dangote Petroleum Refinery will stablise the…
Turkish Airlines’ pledge to NCAA
Turkish Airline has pledged to commence immediately freight of all leftover passengers’ baggage in Turkey to…
Bankers to renovate National Theatre with N20b – Emefiele
The Governor of the Central Bank of Nigeria (CBN), Dr Godwin Emefiele said on Saturday that…
Our Financial Status Healthy, Claims Stallion Group
The Group Chief Executive Officer of Stallion Motors, Mr. Anant Badjatya has said that the group’s…
FG to audit spectrum licences issued in last two decades
The Federal Government is planning to carry out frequency audit on all the spectrum licences issued…
CBN: Banks Refund N76.7bn, $20.9m to Customers over Transaction Issues
The Central Bank of Nigeria (CBN) has put banks’ refunds to customers as of November 30,…
Nigeria needs $22.7bn loan to fix infrastructure – FG
In order to bridge the infrastructural deficit in the country, the Federal Government has declared that…
Breaking: 2 Global Banks Dump Nigeria
The Central Bank of Nigeria (CBN) has revealed that two global banks – HSBC and UBS…
Lagosians To Obtain Licence To Drill Borehole From 2020
Lagos State government has said by the first quarter of next year, it would begin to…
6 Million Nigerians join rice producers, says FG
Over three months after the closure of the nation’s borders, about six million Nigerians, including youths,…
NNPC subsidiary, IDSL’s revenues hit N32.133bn in 3 years
The revenues of Integrated Data Services Limited (IDSL), a subsidiary of the Nigerian National Petroleum Corporation…
Nigeria Earned $54.5bn From Crude Oil, Spent $54.6bn To Import Petroleum Products In 2018
Nigeria’s value of petroleum products imports was more than its exports in 2018, according to data…
An Umpire and Drive for Ports Efficiency
The nation’s shipping industry is one of conflict of interests. There is the interest of government,…
South Africa’s Rand Flat Aahead Of GDP Figures
South Africa’s rand was flat in early trade on Monday ahead of third quarter growth data…
Reform now to stop further slide into extreme poverty – World Bank to FG
The World Bank has said the number of Nigerians living in extreme poverty may increase by…
Dangote receives largest single-train crude refining equipment
The Dangote Oil Refinery Company, yesterday, took delivery of what it described as the world’s largest…
Banks’ capital adequacy ratio hits 15.5% – Emefiele
The Capital Adequacy Ratio(CAR)of the nation’s banks increased from 10.2 percent in December 2017 to 15.5…
Banks earned N180m to deposit N546b with CBN
The nation’s Deposit Money Banks (DMBs) opted to deposit a whopping N545.71 billion in the tills…
USSD: Telcos threaten to disconnect banks
Telecommunications operators in the country said they may be forced to disconnect the links that allow…
Nigeria Owes N25.7 Trillion – DMO
The Debt Management Office (DMO) says that Nigerian’s total debt profile is N25.7 trillion. The Director-General…
Higher Revenue, Reduced Fuel Usage, Rice Production Are Gains Of Border Closure
The Federal Government has listed higher import revenue, lower domestic fuel consumption and increased rice production…
12 govs apply for $750m World Bank’s sustainability grant
Twelve state governors have forwarded their concurrence in respect of Draft Subsidiary Grant Agreement (SGA) to…