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All posts by BusinessNews Staff

  • FG unfolds budget details, implementation plan Thursday

    The Federal Government will on Thursday make public the details of the 2016 budget signed into law by President Muhammadu Buhari last Friday. Also to be made public is the budget’s strategic and implementation plan. According to...

    • Posted May 11, 2016
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  • Stock market gains N44bn

    The Nigerian capital market on Monday continued its gaining spree two sessions into the signing of the budget into law by President Muhammadu Buhari. The Nigerian Stock Exchange market capaitalisation rose by N44bn to close at N8.884tn...

    • Posted May 11, 2016
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  • Transcorp completes N30bn bond issuance for expansion

    Transcorp Hotels Plc says it has completed tranches 1 and 2 of its N30bn bond issuance programme, which is intended to fund the upgrade of Transcorp Hilton Abuja and the development of a multipurpose banquet centre. According...

    • Posted May 11, 2016
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  • Marketers stockpile petrol over possible price increase

    Oil marketers resorted to stockpiling Premium Motor Spirit, otherwise known as petrol, as rumours of an imminent increase in the pump price of the commodity spread on Monday. Our correspondent gathered that many of the marketers doubled...

    • Posted May 11, 2016
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  • Oando increases gas footprint via Ajaokuta LNG Project

    Oando Gas and Power Limited (OGP), the foremost indigenous developer and provider of gas and power solutions, and a fully-owned entity of Oando Plc, has commenced development of a mini Liquefied Natural Gas (LNG) facility through its...

    • Posted May 11, 2016
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  • We’re carefully studying Labour’s demand for new minimum wage – FG

    The federal government monday said it was carefully studying demands by organised labour for a new minimum wage pegged at N56,000 for Nigerian workers. The position of the government is the first official statement in line with...

    • Posted May 11, 2016
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  • Shell to continue operations, denies plan to evacuate workers

    Shell Companies in Nigeria have restated their long-term commitment to the Niger Delta, saying they would continue operations in the oil-rich region despite the spate of militant attacks in recent days. Shell has also denied evacuating its...

    • Posted May 11, 2016
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  • Lagos issues N1bn pension bonds to 260 retirees

    The Lagos State Government has issued retirement benefit bond certificates for a total sum of N1.08bn to 260 retirees. A statement said the beneficiaries were from local governments, the State Universal Basic Education Board, Teachers’ Establishment and...

    • Posted May 10, 2016
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  • N93bn debt: Power firms to disconnect MDAs, military

    Electricity distribution companies are poised for a showdown with their major debtors as the latter face mass disconnection of supply in the days ahead. The firms said for months, they had been groaning under severe liquidity constraints...

    • Posted May 10, 2016
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  • Unsolicited SMS to attract N5m fine – NCC

    A document from the Legal and Regulatory Services Department of the Nigerian Communications Commission indicates that the NCC has barred mobile number operators from sending out unsolicited text messages to subscribers. The failure by any of the...

    • Posted May 10, 2016
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