All posts by BusinessNews Staff

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  NERC appeals court ruling on electricity tariff

  The Nigerian Electricity Regulatory Commission has directed its lawyers to file an appeal against the court ruling that mandated it to reverse the 45 per cent increase in electricity tariff across the country. The NERC had earlier...

  • Posted July 17, 2016
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  Emefiele woos US, British investors

  The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele flew to Britain and the United States this week to try to lure back investors scared off by the plunge in oil prices and resulting financial turmoil,...

  • Posted July 17, 2016
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  80MW solar plant deal signed in Jigawa State

  A major milestone in the power sector has been recorded as Nova Scotia Power Development Limited (NSPDL) has signed a Power Purchase Agreement (PPA) with the Nigerian Bulk Electricity Trading Plc (NBET) for the development of one...

  • Posted July 17, 2016
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  Arik warns scarcity of aviation fuel may cripple flight operations

  Nigeria’s major carrier, Arik Air has warned that air travel may be crippled by the increasing prices of aviation fuel, known as Jet A1, which has recorded over 35 per cent increase in the last four weeks....

  • Posted July 17, 2016
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  RMAFC wants VAT raised to 10%

  The Revenue Mobilisation Allocation and Fiscal Commission on Thursday called on the Federal Government to raise the rate of the Value Added Tax from the current five per cent to between 7.5 per cent and 10 per...

  • Posted July 16, 2016
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  Why electricity crisis lingers – Minister

  The electricity crisis in the country is lingering because of the overreliance on gas for power generation and hydroelectricity, the Minister of Science and Technology, Dr. Ogbonnaya Onu, has said. Onu said this at the opening of...

  • Posted July 16, 2016
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  Power: NERC to reverse 45% tariff hike

  The Nigerian Electricity Regulatory Commission on Thursday said it would uphold the court ruling mandating it to reverse the 45 per cent increase in electricity tariffs across the country, six months after implementing the Multi Year Tariff...

  • Posted July 16, 2016
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  Government revenue profile rising – Udoma

  The Federal Government on Thursday said that the nation’s revenue profile had started rising due to increased oil production and improved access of manufacturers to foreign exchange for the importation of goods into the country. The Minister...

  • Posted July 16, 2016
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  Nigerian Breweries records 11% profit decline

  Nigerian Breweries Plc has recorded a profit after tax (PAT) of N19.06 billion for the half year ended June 30, 2016. The performance showed a decline of 11 per cent compared to N21.477 billion recorded in the...

  • Posted July 16, 2016
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  Fitch affirms FirstBank’s stable outlook on viability ratings

  ……As The Bank targets expansion with Agency Banking Fitch, a global leader in credit ratings and research on Monday affirmed the Viability Ratings (VR) for FirstBank of Nigeria Limited at “B” even as the lender ranks above...

  • Posted July 15, 2016
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