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All posts by BusinessNews Staff

  • Kachikwu recommissions 46km Escravos-Warri crude pipeline

    Minister of State for Petroleum, Ibe Kachikwu, has said the lingering fuel shortages in major cities across the country would gradually ease off with coming on stream of refineries, which require about $700 million to upgrade and...

    • Posted April 25, 2016
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  • Transfer of $1.8bn oil blocks to NPDC not transparent – NNPC

    The Nigerian National Petroleum Corporation (NNPC) yesterday finally accepted that the transfer of oil blocks to its subsidiary, the Nigerian Petroleum Development Company (NPDC) valued at the cost of $1.8 billion but for which only $100 million...

    • Posted April 24, 2016
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  • AFC launches Africa Project Developers Initiative

    The Africa Finance Corporation (AFC) alongside its development partners has announced the launch of the Africa Project Developers Initiative (APDI). APDI is a think tank and network to promote and enable project development in Africa. It creates...

    • Posted April 24, 2016
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  • Yields on Nigeria’s treasury bills rise across board

    Yields on Nigerian short-dated treasury bills rose significantly at an auction on Wednesday where the central bank sold a total of N167.51 billion worth of debt with maturities ranging between three months and one year. The central...

    • Posted April 23, 2016
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  • MTN’s subscriber base falls 1.4% in First Quarter

    MTN Group Limited’s subscriber numbers fell during the first quarter as disconnections ordered by the government in Nigeria, its biggest market, curbed the growth of Africa’s largest wireless operator. MTN’s customer base decreased by 1.4 per cent...

    • Posted April 23, 2016
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  • Workers’ welfare remains priority – FG

    The federal government, has said that the welfare of workers remains its priority. The Head of the  Service of the Federation (HoSF), Mrs. Winifred Ekanem Oyo-Ita, made the position of the federal government on civil servants known...

    • Posted April 23, 2016
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  • FG defers N10.9bn loan repayment by States, rules out another bailout

    The Finance Minister, Mrs. Kemi Adeosun has said that the federal government would not make deductions from states’ Federation Account allocations for the month of March on their restructured loans so as to allow them pay their...

    • Posted April 23, 2016
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  • Economic crunch: Airlines adopt new strategies to sustain operation

    Foreign airlines and Nigerian carriers operating international destinations are adopting various strategies that will help them remain in business as the number of people that travel out of the country has scaled down owing to the economic...

    • Posted April 23, 2016
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  • Shell defies order to halt production at facility

    Royal Dutch Shell has failed to halt production at the Gbaran Ubie oil and gas facility in Bayelsa State, contravening a court order for the site to be sealed and raising the prospect of legal action, government...

    • Posted April 22, 2016
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  • Economy: Governors’ meeting ends in deadlock

    A meeting of the Nigeria Governors’ Forum held on Wednesday to discuss the state of the nation’s economy ended in a deadlock. The meeting which was held inside the old Banquet Hall of the Presidential Villa, Abuja,...

    • Posted April 22, 2016
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