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All posts by BusinessNews Staff

  • FRC tackles NNPC over non-submission of audited accounts

    The Fiscal Responsibility Commission (FRC) tuesday carpeted the Nigerian National Petroleum Corporation (NNPC) for allegedly failing to provide its audited financial statements to the commission since 2011. It also chided the corporation for not submitting its Medium...

    • Posted February 12, 2016
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  • Government moves to privatise Ajaokuta steel plant

    The Federal Government aims to hand over the $4.5bn Ajaokuta steel complex to private operators this year as part of a plan to kick-start its industrial and mining industries, the Minister of Solid Minerals Development, Dr. Kayode...

    • Posted February 11, 2016
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  • Senate committee faults N4.5bn allocation to railway

    The Chairman, Senate Committee on Land Transport, Gbenga Ashafa, has faulted the N4.5bn earmarked for the Nigerian railway in the 2016 budget, describing it as grossly inadequate to meet the immediate needs of the industry. He said...

    • Posted February 11, 2016
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  • Labour ministry, SMEDAN focus on job creation

    The Small and Medium Enterprises Development Agency of Nigeria and the Federal Ministry of Labour and Employment have given credence to the Federal Government’s plans to create jobs in the country. Speaking at the Annual General Meeting...

    • Posted February 11, 2016
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  • FG, World Bank unveil $160m financing, job creation scheme

    The Minister of Trade, Industry and Investment, Dr. Okechukwu Enelamah on Tuesday inaugurated a $160 million (about N49.2 million) World Bank supported initiative to improve access to finance as well as provide technical assistance to small and...

    • Posted February 11, 2016
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  • NNPC clarifies role of NAPIMS in $260m Usan Oilfield contract

    The Nigerian National Petroleum Corporation (NNPC) has provided a clarification on the role of its subsidiary, National Petroleum Investment Services (NAPIMS) in the $260 million contract awarded by ESSO Exploration and Production Nigeria Limited, a subsidiary of...

    • Posted February 11, 2016
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  • Fashola asks Discos to embark on more aggressive metering

    The Minister of Power, Works and Housing, Mr. Babatunde Fashola (SAN), tuesday chaired the second monthly meeting of operators in the power sector in Lagos with the electricity distribution companies, promising more aggressive commitment to metering. The...

    • Posted February 11, 2016
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  • Senate Committee rejects N400m budget for PIB preparation, review of gas masterplan

    The  Senate Committee on Gas Resources tuesday turned down a proposal of N200 million in the budget of the Ministry of Petroleum Resources for the preparation of the Petroleum Industry Bill (PIB). The committee also rejected a...

    • Posted February 11, 2016
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  • 23 million bank customers enrolled for BVN

    A total of 23,345,964 million bank customers had obtained their Bank Verification Numbers (BVN) as at February 7, 2016. The Director, Banking and Payment System Department, Central Bank of Nigeria (CBN), Mr. ‘Dipo Fatokun, who revealed thus...

    • Posted February 11, 2016
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  • Registration for E-Dividend is free – SEC

    The Securities and Exchange Commission (SEC) on Monday said it is free for investors to register for the electronic dividend (e-dividend). Speaking during the first day of sensitisation programme on e-dividend registration in Lagos, Head of Department,...

    • Posted February 10, 2016
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