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All posts by BusinessNews Staff

  • Dangote WEF
    Dangote to invest additional $2bn in Refinery-Petrochemical Complex

    Aliko Dangote, Africa’s richest businessman, is increasing the size of his investment in an oil refinery, petrochemical and fertilizer plant by more than a fifth to $11 billion despite a looming slowdown in Africa’s biggest economy, reported...

    • Posted December 17, 2014
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  • Mansard-Insurance-2511
    Mansard moves to acquire Penman Pensions Limited

    Mansard Insurance Plc is to acquire 60 per cent of Penman Pensions Limited, a pension fund administrator. In a notification to the Nigerian Stock Exchange (NSE), Mansard said it intended to acquire the PFA and operate it...

    • Posted December 17, 2014
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  • GEJ 3
    West African leaders inaugurate common external tariff

    The Heads of State of West African countries on Monday in Abuja inaugurated the Common External Tariff of the Economic Community of West African States, which comes into force on January 1, 2015. By this, same duties...

    • Posted December 17, 2014
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  • CBN
    CBN, banks pledge increased funding to Agric Sector

    The Central Bank of Nigeria (CBN) and deposit money banks in Nigeria, under the aegis of the bankers’ committee have restated their commitment to expanding bank lending in agro-business in order to discourage importation in the country....

    • Posted December 17, 2014
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  • DG-BPE-Benjamin-Dikki
    FG hands over 51% stake in Stallion Properties to NNPC Pension Fund

    The federal government on Monday formally handed over its 51 per cent shares (161,814,000 shares) in the residual assets of Stallion Property and Development Company (SPDC) to the Nigerian National Petroleum Corporation Pension Fund Limited (NNPC PFL),...

    • Posted December 17, 2014
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  • Madueke-
    Oil: Brent drops to five-year low at $61

    The average price of crude oil from the Organisation of Petroleum Exporting Countries fell below $60 for the first time since July 2009, according to data from the 12-member cartel. However, the global benchmark Brent, against which...

    • Posted December 17, 2014
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  • 030614F.Sam-Amadi
    Metering: NERC begins monitoring of power firms

    The Nigerian Electricity Regulatory Commission has commenced a nationwide monitoring of power distribution companies in order to determine those that have failed to provide meters to electricity consumers who have paid for the device under the Credited...

    • Posted December 17, 2014
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  • Olusegun-Aganga
    Nigeria, Mexico to increase trade, investment

    The Federal Government, in a bid to improve bilateral relations with Mexico, has inaugurated the Nigeria/Mexico Chamber of Commerce and Industry. The move, according to the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, will help...

    • Posted December 17, 2014
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  • Telecoms-masts-
    Telecoms industry attracted N1tn in two years – FG

    The Nigerian Telecommunications industry attracted $6bn (N1.08tn) in Foreign Direct Investment between 2011 and 2013, the Federal Government has said. The Minister of Communications Technology, Dr. Omobola Johnson, who said this at the 2014 Ministerial Platform held...

    • Posted December 17, 2014
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  • B311212-Oscar-Onyema
    Value of transactions on NASD OTC hits N2billion

    The value of trading on the NASD OTC market  last week hit N2 billion,    three months after it  hit N2 billion. The NASD OTC is licensed platform for the trading of unlisted securities. Prior to 2013, holders...

    • Posted December 17, 2014
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  • Jim-Obazee
    FRC to probe sale of Mainstreet, Enterprise Banks

    The Financial Reporting Council (FRC) has indicated plans to investigate the sale of the bridged banks by the Asset Management Corporation of Nigeria (AMCON) next year. The Chief Executive Officer of the FRC, Mr. Jim Obazee, gave...

    • Posted December 16, 2014
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  • NSE-Building-Lagos
    NSE all-share index plunges to two-year low

    The Nigerian equities market dipped to a two-year low last Friday as investors intensified dumping of shares causing the Nigerian Stock Exchange (NSE) to close at 30,763.38.  Also, market capitalisation ended at N10.156 trillion.  Bears have been...

    • Posted December 16, 2014
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