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All posts by BusinessNews Staff

  • Sugar master plan implementation below average – Busari

    Nigeria has achieved only 40.3 per cent of the target set for attainment by the first half of the 10-year lifespan of her sugar master plan. Speaking at the mid-term implementation review of the Nigerian Sugar Master...

    • Posted June 3, 2017
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  • Electricity: Gas suppliers demand cash before delivery

    The Association of Power Generation Companies (APGC) has said the gas-fired Generation Companies (GenCos) owe gas suppliers about N200billion debt which has cut further credit supply from the firms. The Executive Secretary, Dr Joy Ogaji at a...

    • Posted June 2, 2017
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  • External reserves fall to $30.49bn – CBN

    Nigeria’s foreign exchange reserves fell to $30.49 billion as of May 25, the lowest level since April 18 and down 0.87 percent from a month ago, central bank data showed on Wednesday. The forex reserves were up...

    • Posted June 2, 2017
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  • No date for budget assent – Presidency

    The Presidency yesterday said no date has been fixed for the assent to this year’s budget transmitted to it by the National Assembly about two weeks ago. Daily Trust reports that there were reports last night that...

    • Posted June 2, 2017
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  • Customs CG to face Senate confirmation

    The Senate yesterday amended the Customs and Excise Management Act CAP C.45 of 2004, subjecting the appointment of the Comptroller-General of the Customs to its confirmation. This followed the approval of the report of the Senate Committee...

    • Posted June 2, 2017
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  • Benue Assembly passes N176.6bn 2017 budget

    The Benue State House of Assembly yesterday passed the budget of N176.6bn for the 2017 fiscal year. Governor Samuel Ortom had earlier presented a budget draft of N163.9bn to the assembly in December, but, the House made...

    • Posted June 1, 2017
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  • Osinbajo, Dangote, others in industrial policy council

    Acting President Yemi Osinbajo yesterday at the State House in Abuja inaugurated the Nigerian Industrial Policy and Competitiveness Advisory Council. The council is chaired by Osinbajo and has the Minister of Industry Trade and Investment, Okechukwu Enelamah...

    • Posted June 1, 2017
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  • N2.19bn lost to payment fraud in 2016 – Report

    The electronic payment space transaction fraud rose by 82 percent in 2016 with an estimated N2.19 billion lost to cyber criminals. This is contained in the Nigeria Electronic Fraud Forum (NeFF) annual report 2016 released yesterday. The...

    • Posted June 1, 2017
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  • High dividend payouts fail to attract more investors to capital market

    Attempts by quoted companies to woo investors with high dividend payouts have not yielded the desired result, as capital market investors blame investment apathy and illiquidity for the poor performance and low share prices and market capitalisation...

    • Posted May 31, 2017
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  • 35 electricity turbines down in 15 GenCos

    About 2,514mw of electricity cannot be utilised due to 35 idle generation turbines across 15 Generation Companies (GenCos), even as the national grid peaked at 4,464 megawatts (mw) last Sunday shortly before the Democracy Day celebration. The...

    • Posted May 31, 2017
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