All posts by BusinessNews Staff

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  CBN begins stakeholder consultations on flexible exchange rate

  The Central Bank of Nigeria (CBN) wednesday held a meeting with treasurers of banks, one of a series of consultations with critical stakeholders in the financial system, to discuss its planned adoption of a flexible exchange regime....

  • Posted June 3, 2016
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  Buhari to inaugurate Abuja-Kaduna rail line in July

  President Muhammadu Buhari will next month (July) signal the commencement of interstate railway services on the $1bn Abuja-Kaduna rail line project, the Minister of Transportation, Rotimi Amaechi, has said. According to him, the rail line is set...

  • Posted June 3, 2016
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  OPEC members seek joint action on oil output

  Some members of the Organisation of Petroleum Exporting Countries including Saudi Arabia are looking to revive the idea of coordinated oil-output action by major producers when the group meets today (Thursday) in Vienna. A senior OPEC source...

  • Posted June 3, 2016
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  Nigeria risks housing crisis in four years – Buhari

  President Muhammadu Buhari on Wednesday declared that the country might face a housing crisis in the next four years, but stressed that his government had earmarked N40bn to provide affordable homes for Nigerians in the 2016 budget...

  • Posted June 3, 2016
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  FG may raise tax revenue to 18% in next fiscal year

  The federal government plans to increase Nigeria’s tax revenue from the current value of seven per cent to 18 per cent by the next fiscal year, Director General of the Debt Management Office (DMO), Dr. Abraham Nwankwo...

  • Posted June 2, 2016
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  Nigeria remains Africa’s top investment destination – Elumelu

  The Chairman of Heirs Holdings, Mr. Tony Elumelu has urged members of the French business community to always see Nigeria as their first choice investment destination in Africa. Elumelu, who is the Chairman of the United Bank...

  • Posted June 2, 2016
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  Senate slams Fashola over poor power supply

  The Joint Senate Committee on Power, Employment, Labour and Productivity Tuesday lamented the deplorable state of power supply in the country and told the Minister of Power, Works and Housing, Mr. Babatunde Fashola, to live up to his...

  • Posted June 2, 2016
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  Buhari to CBN: No objection to flexible exchange rate

  Faced with an economy nearing recession and inflation at the highest in almost six years, President Muhammadu Buhari has backed down on his refusal to allow the naira to weaken. The President, according to Bloomberg, has given...

  • Posted June 2, 2016
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  Power: NERC bans mass disconnection of consumers

  The Nigerian Electricity Regulatory Commission on Tuesday announced an outright ban on the mass disconnection of electricity consumers by power distribution companies across the country. In May, the power distribution companies commenced what they described as the...

  • Posted June 2, 2016
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  Nigeria’s Barkindo may become OPEC secretary-general

  The Organisation of Petroleum Exporting Countries is likely to choose a former Group Managing Director of the Nigerian National Petroleum Corporation, Mohammed Barkindo, as its next secretary-general. Three sources with knowledge of the matter were quoted by...

  • Posted June 2, 2016
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