All posts by BusinessNews Staff

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  Budget: Saraki, Dogara meet over clean copy

  The Senate leadership met for many hours on Tuesday to consider the preview copy of the grey areas contained in the 2016 budget. The meeting lasted for about five hours but the spokesperson for the Senate, Senator...

  • Posted May 5, 2016
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  External reserves fall by $753m

  Nigeria’s external reserves diminished by a total of $753 million to close at $27.123 billion as at April 28th, compared with the $27.859 billion it was as at April 1. The current position of the reserves, which...

  • Posted May 5, 2016
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  Investors stake N183bn on 47bn shares in four months

  Investors invested about N182.845 billion in 46.758 billion between January and April 2016. Statistics obtained by THISDAY showed that investors staked N99 billion on 18.336 billion shares in January and February and N83.845 billion on 28.433 billion...

  • Posted May 5, 2016
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  Moody’s downgrades Nigeria’s Sovereign Issuer Rating to ‘B1’

  Moody’s Investors Service has downgraded Nigeria’s long-term issuer ratings to B1 from Ba3 and has assigned a stable outlook, concluding the review for the downgrade that was initiated on March 4th 2016. The key drivers of the...

  • Posted May 5, 2016
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  Policy reset urgently needed in Nigeria, others to secure growth – IMF

  In order for Nigeria and other economies in Africa to harness their strong potential, the International Monetary Fund (IMF) has stressed the “critical need” for a substantial policy reset by policy makers in the countries, adding that...

  • Posted May 5, 2016
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  Nigeria’s Manufacturing Index declines in April

  The Manufacturing Purchasing Managers’ Index (PMI) dropped to 43.7 per cent in April 2016, compared to 45.9 per cent in the preceding month. This implies that the manufacturing sector declined at a faster rate during the review...

  • Posted May 5, 2016
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  Ikoyi, Lekki, VI, others face one-month power rationing

  The Eko Electricity Distribution Company has said it will begin power rationing today (Tuesday) in Lekki, Ikoyi, Victoria Island and some parts of Ajah, Lagos State. The company made the announcement on Monday in a statement signed...

  • Posted May 4, 2016
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  Mining can earn N5trn for Nigeria yearly – Fayemi

  The Minister of Solid Minerals Development, Dr. Kayode Fayemi, has said that Nigeria can generate about N5tn annually if it opens up the sector. He also said that the solid minerals sector had the potential to generate...

  • Posted May 4, 2016
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  Delayed FIDs threaten Nigeria’s LNG projects

  The gradual shift away from long-term contracts in the global Liquefied Natural Gas market has been described as a threat to Nigeria’s LNG projects, which have over the years been stalled by a lack of Final Investment...

  • Posted May 4, 2016
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  Capital market needs further expansion – Stanbic IBTC

  A stockbroking firm and member of Stanbic IBTC Holdings Plc, Stanbic IBTC Stockbrokers Limited, says there is a need to further deepen the Nigerian capital market with a view to providing investors with real-time trading information. This,...

  • Posted May 4, 2016
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