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All posts by BusinessNews Staff

  • fb
    Facebook opens first Africa office

    Facebook on Monday announced it had opened its first African office. Locate in Johannesburg, South Africa, the company said it was part of its efforts “to help people and businesses connect”. The office will be headed by...

    • Posted June 29, 2015
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  • President-Muhammadu-Buhari2-360x242
    Buhari’s government incurs N57bn petrol subsidy debt

    The Federal Government has incurred a total sum of N56.784bn in petrol subsidy arrears since Muhammadu Buhari took over as President of the country on May 29, this year. According to data from the Petroleum Products Pricing...

    • Posted June 29, 2015
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  • Oyetunji-CEO
    Naira devaluation discourages savings — Oyetunji

    In this interview with NIKE POPOOLA, the Group Managing Director, Continental Reinsurance Plc, Dr. Femi Oyetunji, speaks on the development of insurance and reinsurance business in Africa What are local insurers doing to curb capital flight via...

    • Posted June 29, 2015
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  • Cars-on-display
    Car-owners to pay more for motor insurance — Investigation

    Premium being paid by motorists on the compulsory third party insurance will soon be increased, investigation by our correspondent has revealed. For over a decade, underwriting firms had been selling the third party motor insurance for N5,000....

    • Posted June 29, 2015
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  • B311212-Oscar-Onyema
    Nigerian Capital Market ready for burden of project funding – Onyema

    Director-General The Nigerian Stock Exchange, Mr. Oscar Onyema, in this interview with Festus Akanbi, speaks on the impressive performance of the exchange for the 2014 financial year and the role of the capital market in an austere...

    • Posted June 29, 2015
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  • electricity
    DPR, NEMSA move to avert fire disaster in hazardous areas

    Following a recent huge fire that burnt through a gas station in Ghana’s capital city of Accra, leaving scores of people dead, the Department of Petroleum Resources (DPR) and newly constituted Nigerian Electricity Management Services Authority (NEMSA)...

    • Posted June 29, 2015
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  • Skye Bank logo
    Skye Bank launches new retail banking road-map

    In a quest to reposition its Retail Banking business and make it the centre-piece of its business focus, Skye Bank Plc. has embarked on a comprehensive transformation of its retail offerings, focusing essentially on the needs of...

    • Posted June 28, 2015
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  • Seidu-Mohammed-1008
    UK firm to invest $250m in Nigeria’s satellite programme

    The Managing Director of Menasat  Group, a United Kingdom (UK) space satellite firm, Mr. Hani Salem, on Friday said the company had sealed a partnership venture with the federal government to invest $250 million into its space...

    • Posted June 28, 2015
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  • 070-Oseni-Elamah(1)
    Edo bans use of revenue collectors, begins presumptive tax regime

    In order to shore up its revenue base amidst dwindling revenue from oil, Edo State government has announced the commencement and implementation of Presumptive Tax regime which targets the informal sector. With this, it said that henceforth...

    • Posted June 28, 2015
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  • 170812N-Power-Plant
    IBDEC records N2.4bn loss from energy theft

    The Regional Manager, Ibadan Electricity Distribution Company, Mr. Waheed Salami, has decried the spate of energy theft by consumers in its areas of operations in the western part of the country. He stated that while electricity consumers...

    • Posted June 28, 2015
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  • Buhari1
    SSANU threatens strike over FG’s privatisation plan

    The Senior Staff Association of Nigerian Universities has threatened to withdraw its services from Nigerian universities should the Federal Government go ahead with its plan to stop paying the salaries of teachers of University Demonstration Primary Schools....

    • Posted June 28, 2015
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  • energy-bulbs-
    Groups move to boost renewable energy projects

    A Memorandum of Understanding has been signed between the Africa Leadership Forum and Privida Energy to facilitate the development of renewable energy projects in order to reduce the cost of electricity for entrepreneurs in the country. Representatives...

    • Posted June 28, 2015
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