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All posts by BusinessNews Staff

  • Nigeria imports 1.25 million barrels of kerosene from US

    Nigeria emerged as the second-largest importer of kerosene from the United States last year, according to a new report released by the Energy Information Administration, the statistical arm of the US Energy Department. The country, which is...

    • Posted March 7, 2016
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  • Nigeria can’t afford Forex demand for students studying abroad – Buhari

    President Muhammadu Buhari has said that Nigeria cannot afford to sell forex to parents seeking to fund their children education abroad. Buhari said his position on the forex allocation issue followed a discovery that the high demand...

    • Posted March 7, 2016
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  • Value of total trade will retard in 2016 – NBS

    Even though it has been estimated to increase by 2.1 per cent, the value of total trade is expected to slow in 2016, the Nigerian Bureau of Statistics has said. NBS, which made this prediction in its...

    • Posted March 7, 2016
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  • Oil price rises above Nigeria’s $38 oil benchmark

    The global benchmark, Brent crude, on Friday rose above Nigeria’s proposed benchmark oil price of $38 per barrel for this year’s budget. Brent had since mid-December 2015 continued to trade below the $38 per barrel mark. In...

    • Posted March 6, 2016
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  • We cannot sell petrol at N86.50k – IPMAN

    The Chairman, Independent Petroleum Marketers Association of Nigeria, Kwara State Chapter, Mr. Olanrewaju Okanlawon, says members of the association in the state can no longer sell premium motor spirit popularly called petrol at the approved price of...

    • Posted March 6, 2016
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  • NBCC advises Nigerians on economic opportunities

    The President of Nigerian-British Chamber of Commerce (NBCC), Prince Dapo Adelegan has advised Nigerians to look beyond the limitations created by the present economic situation and see opportunities for growth and inventions. The president stated this during...

    • Posted March 6, 2016
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  • Traders recount losses as 2016 Budget awaits passage

    Though the controversial 2016 Budget is making a headway going by latest reports, Nigerian traders are still recounting their losses. The 2016 budget which was initially slated for passage on February 25th has been a subject of...

    • Posted March 6, 2016
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  • Power generation rises to 4387mw, as NERC monitors Discos

    The Nigerian Electricity Regulatory Commission (NERC) last night said that nationwide power generation had again began to rise and was at 4387 megawatts (MW) as at yesterday evening. NERC said that this came about following the successful...

    • Posted March 6, 2016
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  • Manufacturers now spend N9bn daily to generate power – MAN

    The National President of the Manufacturers Association of Nigeria (MAN), Dr. Frank Udemba Jacobs, on Friday put the daily cost incurred by its members in generating electricity to power their industries at over N9 billion. Speaking at...

    • Posted March 6, 2016
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  • Financial inclusion: CBN approves Innovectives as super-agent

    The Central Bank of Nigeria on Wednesday granted an approval-in-principle to Innovectives to operate as a super-agent in the country’s financial services system. Innovectives is a provider of secure and affordable transaction channels for the unbanked and...

    • Posted March 5, 2016
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