All posts by BusinessNews Staff

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  Market records N44bn loss as 25 stocks depreciate

  A total of 25 stocks depreciated at the end of trading on the floor of the Nigerian Stock Exchange on Wednesday. This resulted in the NSE market capitalisation dropping by N44bn. The market capitalisation closed at N9.868tn...

  • Posted July 15, 2016
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  Private equity firms eye Africa for oil investments

  Private equity firms are increasingly looking to deploy more capital into the African oil and gas sector amid rising energy demand on the continent, a global survey of 100 PE firms active in the sector released by...

  • Posted July 15, 2016
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  FG stops remittance of workers’ pension deductions

  The Federal Government has not been remitting the pension contributions of most of its workers into their Retirement Savings Accounts under the Contributory Pension Scheme since October last year. This revelation was contained in the 2016 annual...

  • Posted July 15, 2016
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  MDAs borrowed N178.56bn for infrastructure – DMO

  Federal Ministries, Departments and Agencies are indebted to the Federal Government to the tune of N178.56bn. The Debt Management Office, which disclosed this in a report entitled: ‘Federal Government On-lent Loans to MDAs’, said 11 MDAs benefitted...

  • Posted July 15, 2016
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  FG woos insurers to invest in infrastructural development

  The federal government has solicited the collaboration of insurance industry operators in infrastructural development in the country, just as it has said that henceforth, only contractors with prove of compliance with Workmen Compensation Act would be allowed...

  • Posted July 15, 2016
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  BEDC to install additional 100,000 meters this year

  The Benin Electricity Distribution Plc. (BEDC) has announced plan to install additional 100,000 meters for domestic and commercial customers for the remainder of this year. The company stated this at a press briefing during the 7th monthly...

  • Posted July 15, 2016
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  New airport terminals nearing completion – FAAN

  The Federal Airports Authority of Nigeria has said the new terminals being constructed at four international airports located in Lagos, Port Harcourt, Kano and Abuja are at advanced stages of completion. The General Manager, Corporate Communications, FAAN,...

  • Posted July 14, 2016
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  NCC boss to address stakeholders on IGR

  The Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Professor Umar Garba Danbatta, is billed to make presentation at a two-day retreat on enhancing Internally Generated Revenue (IGR) for Ministries Departments and Agencies (MDAs) of...

  • Posted July 14, 2016
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  Adeosun wants insurance firms to raise capital base

  The is an indication that the insurance industry may embark on another round of recapitalisation as the Minister of Finance, Mrs. Kemi Adeosun, has stated the need for insurance industry operators to increase their capital base and...

  • Posted July 14, 2016
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  No plan to increase electricity tariff – NERC

  The Nigerian Electricity Regulatory Commission (NERC) on Tuesday denied reports that there were plans to increase power tariffs across the country. Six months ago, NERC increased electricity tariffs for different categories of consumers by over 45 per...

  • Posted July 14, 2016
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