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All posts by BusinessNews Staff

  • Operators proffer solutions to challenges in power, gas sectors

    Experts in Nigeria’s power and gas sectors have proposed solutions to the problems of the sectors, saying that ongoing projects should be pursued vigorously to completion, while the new electricity tariffs should be implemented. Immediate past Group...

    • Posted April 6, 2016
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  • Independent Marketers accept blame for fuel scarcity

    The Independent Petroleum Marketers Association of Nigeria (IPMAN) has exonerated the federal government of any blames associated with the current lingering fuel shortages across the country, clarifying that Nigerians should rather blame the prolonged leadership crisis that...

    • Posted April 6, 2016
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  • African producers mull survival options amid low oil prices

    Since the prices of crude oil in the international market took an uncertain path, the economies of some key African oil producing countries have received some significant battering, especially those that rely heavily on crude oil export...

    • Posted April 6, 2016
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  • Terrorism: Nigerian airports 96% secure – ICAO

    Nigerian airports are 96 per cent secure, the International Civil Aviation Organisation has said. This is coming as the organisation announced that it had commenced high-level discussions with African countries on measures to address and counter the...

    • Posted April 6, 2016
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  • 145 textile firms lost to economic downturn — FG

    The Federal Government on Monday said that a total of 145 textile companies had shut down operations between 1980 and now due to harsh economic climate. The Minister of State for Industry, Trade and Investment, Aisha Abubakar,...

    • Posted April 6, 2016
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  • 24 firms lose, market capitalisation sheds N54bn

    Losses in 24 firms at the close of trading on the floor of the Nigerian Stock Exchange crashed market capitalisation by N54bn. The NSE All-Share Index also dropped to 25,349.07 basis points from 25,507.09 basis points. On...

    • Posted April 6, 2016
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  • NCC boosts Federation Account by N70bn

    The Nigerian Communications Commission has boosted the Federation Account by N70bn in the last six months, its executive vice chairman, Prof. Umar Danbatta, has said. Danbatta said this in a lecture entitled: ‘Mainstreaming ICT for Poverty Reduction...

    • Posted April 5, 2016
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  • NSIA records N10.58bn growth in income

    The Nigerian Sovereign Investment Authority, the agency managing the Sovereign Wealth Fund, said it recorded an increase of N10.58bn in total comprehensive income from N15.77bn in 2014 to N26.35bn in 2015. The Managing Director, NSIA, Mr. Uche...

    • Posted April 5, 2016
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  • Dollar scarcity: Firms struggle to repay foreign loans

    Although foreign loans are attractive for their single digit and low interest rates, the continued depreciation in value of the naira against major foreign currencies has turned them into a huge burden for borrowers in Nigeria. The...

    • Posted April 5, 2016
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  • NCAA directs privately owned jets registered as commercial

    The Nigerian Civil Aviation Authority (NCAA) has issued a directive that privately owned jets should now be registered as commercial aircraft because many of them are used for charter services whereas they were registered as privately owned....

    • Posted April 5, 2016
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