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All posts by BusinessNews Staff

  • Nigeria’s GDP slows to 2.11% in Fourth Quarter as oil sector contracts

    Nigeria’s real Gross Domestic Product (GDP) growth rate declined to 2.11 per cent in the fourth quarter of last year compared to 2.84 per cent in the third quarter, according to the National Bureau of Statistics (NBS)....

    • Posted March 10, 2016
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  • Buhari approves NNPC’s restructuring into seven units, 20 companies

    President Muhammadu Buhari has approved the restructuring of the Nigerian National Petroleum Corporation (NNPC) into seven new divisions, Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, announced on Tuesday at a press briefing in Abuja. He...

    • Posted March 10, 2016
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  • FG will exploit construction sector for economic growth – Fashola

    The Minister of Power, Works and Housing, Babatunde Fashola, has said that the Federal Government will exploit the country’s construction sector to grow its economy. Fashola, who spoke in Abuja during a stakeholders’ workshop organised by the...

    • Posted March 9, 2016
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  • Domestic transactions fall by N18.48bn in one month

    Domestic transactions in Nigeria’s stock market fell from N59.21bn to N40.73bn between December 2015 and January 2016, the Nigerian Stock Exchanged revealed in a report on its website. Total transactions at the nation’s bourse decreased by 23.93...

    • Posted March 9, 2016
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  • Broadband penetration rose by 4% in 2015 – NCC

    Broadband penetration in the country rose by four per cent to 10 per cent last year, the Nigerian Communications Commission has said. The Executive Vice Chairman, NCC, Prof. Umar Danbatta, said this in a welcome address at...

    • Posted March 9, 2016
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  • FBN Holdings directors, advisors to stay off shares for 12 days

    Directors of FBN Holdings Plc have notified the Nigerian Stock Exchange (NSE) of their intention not to deal in the shares of the company from Monday till March 22, 2016. Apart from directors, other advisers to the...

    • Posted March 9, 2016
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  • NNPC reform: GMD to assume direct supervision of NAPIMS

    The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC) is to take over direct control of the Nigeria Petroleum Investment Management Services (NAPIMS) in line with the ongoing restructuring of the corporation. Minister of...

    • Posted March 9, 2016
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  • GTBank Leads in Forex Allocation from CBN

    The exit by foreign portfolio investors from the country, as revealed by bank returns on the utilisation of foreign exchange bought from the Central Bank of Nigeria (CBN), has continued to take its toll on the country’s...

    • Posted March 9, 2016
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  • Crude theft: FG sues IOCs over $12bn missing oil revenue

    In a move interpreted by industry watchers as a major step by the Muhammadu Buhari administration to curb the menace of oil theft in the country, the federal government has instituted civil suits against international oil companies...

    • Posted March 9, 2016
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  • Again, National Assembly pledges speedy passage of PIB

    The National Assembly has restated its commitment to the expeditious passage of the Petroleum Industry Bill (PIB) to ensure the restructuring and deregulation of the downstream sector of the oil and gas industry. Speaking at the recent...

    • Posted March 9, 2016
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