All posts by BusinessNews Staff

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  Stocks: Investors lose N426bn in one session

  Equity investors in the country’s capital market lost over N426bn in just one session of trading after activities resumed on the floor of the Nigerian Stock Exchange on Tuesday. The NSE market capitalisation declined to N9.5tn from...

  • Posted June 2, 2016
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  Stock market lost N1.732tn in one year under Buhari

  The Nigerian stock market crashed by N1.732tn within one year of the Muhammadu Buhari-led Federal Government. The Nigerian Stock Exchange data showed that the NSE market capitalisation on May 28, 2015 was N11.658tn, while that of May...

  • Posted June 1, 2016
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  Nigeria risks losing oil buyers to Iran, Saudi Arabia

  Nigeria, which recently lost its Africa’s top oil producer status to Angola on the back of huge decline in its output, stands a chance of losing some of its traditional buyers to rival producers such as Iran...

  • Posted June 1, 2016
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  Power sector loses N2bn daily, more turbines pack up

  The power sector has been losing an average of N2bn daily since the resurgence of pipeline bombings by militants in the Niger Delta, latest electricity supply statistics have shown. This is coming as the number of functional...

  • Posted June 1, 2016
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  Nigeria to refine 1.3mbpd of oil for consumption by 2023

  The International Institute for Petroleum Energy Law and Policy (IIPELP) has said Nigeria would refine up to 1.3 million barrels of crude oil daily (mbpd) by 2023 to meet the fuel demand of her growing population. IIPELP,...

  • Posted June 1, 2016
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  FG constitutes committee to recover AMCON loans

  A Presidential Inter-Agency Committee on recovery of loans granted to commercial banks and corporate organisations by Asset Management Corporation of Nigeria (AMCON) has been set up by the federal government. This was revealed in a statement made...

  • Posted June 1, 2016
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  FirstBank gets $13.745m Forex allocation from CBN

  The latest returns on forex utilisation for FirstBank Nigeria Limited have shown that the bank was allocated $13,745,768.19 by the Central Bank of Nigeria (CBN) last week. The returns published in THISDAY monday showed that FirstBank sold...

  • Posted June 1, 2016
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  Marketers defy FG, sell petrol above official ex-depot price

  Despite federal government’s recent increase of the price of petrol to reflect the high cost of foreign exchange used in the importation of the product, some marketers and depot owners have defied government’s directive by selling above...

  • Posted June 1, 2016
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  Nigerians traumatised by adverse economy – Ambode

  Lagos State Governor, Mr. Akniwunmi Ambode, has said that Nigerians are being traumatised by the adverse economic situation in the country. Ambode made this observation in an address at the 2016 edition of the African Product Forum...

  • Posted May 31, 2016
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  NCC wins Africa Regulator of the Year Award

  The Nigerian Communications Commission (NCC) has won the African Regulator Award for 2015. The Africa Information Technology and Telecoms Award (AITTA), which took place recently at the Kempinski Hotel, Gold Coast City, Accra, Ghana was the climax...

  • Posted May 31, 2016
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