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All posts by BusinessNews Staff

  • Shareholders approve Union Bank’s plan to raise N50billion in Tier 1 capital

    Shareholders at the 48th Annual General Meeting  of Union Bank Plc has concluded plan to raise about N50 billion in Tier 1 capital via rights issue in the second quarter of 2017. The plan, according to them,...

    • Posted May 12, 2017
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  • FEC approves creation of trade negotiation office

    The Federal Executive Council on Wednesday approved a memo for the establishment of Nigerian office for trade negotiations. The Minister of Industry, Trade and Investment, Okechukwu Enalemah, later told State House reporters that the office would help...

    • Posted May 12, 2017
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  • Google wants Nigeria to simplify taxes

    Nigeria’s government should simplify taxes and reduce fees involved in laying fibre optic cables to encourage development of infrastructure for the technology industry, Google’s manager in the West African country said on Tuesday. Juliet Ehimuan-Chiazor told Reuters...

    • Posted May 11, 2017
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  • Reps begin probe of insurance covers for agencies

    A House of Representatives ad-hoc panel has commenced probe of insurance covers of some agencies that have questionable claims in their budgets. The agencies include the Nigeria Immigration Service (NIS),  the Nigeria Security and Civil Defence Corps...

    • Posted May 11, 2017
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  • FG directs NEPZA to make Calabar FTZ a pilot industrial city

    President Muhammadu Buhari has asked the Nigeria Export Processing Zone Authority (NEPZA) to make Calabar Free Trade Zone a pilot industrial city in the country, the new managing director Emmanuel Jime announced this in Calabar, capital of...

    • Posted May 11, 2017
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  • IMF raises Nigeria’s growth forecast to 1.9% in 2018

    The International Monetary Fund (IMF) has reviewed upward the economic growth projections for Nigeria from 0.7 percent to 1.9 percent in 2018. If that occurs, Nigeria would have been well out of recession and unto the path...

    • Posted May 11, 2017
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  • NNPC awards Ajaokuta-Kaduna-Kano gas pipeline to Chinese firm

    The Nigerian National Petroleum Corporation (NNPC) has awarded the construction of Ajaokuta- Kaduna-Kano Gas pipeline to a Chinese company-China Petroleum Group Engineering Co., Ltd (CPGE). The company disclosed this yesterday in its project bid announcement to the...

    • Posted May 10, 2017
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  • Railway concession: GE to bring 20 locomotives, 200 wagons – Amaechi

    Ahead of the proposed concession of the Nigeria Railway projects to General Electric (GE), the Minister of Transportation, Mr. Rotimi Amaechi yesterday met with railway workers assuring them of safety of their jobs. The Minister also said...

    • Posted May 10, 2017
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  • Manufacturers raise alarm over influx of substandard drugs in suburbs

    The Pharmaceutical Manufacturers group of Manufacturers Association of Nigeria (PMG-MAN) has raised alarm over the disposal of substandard drugs in hinterlands owing to lack of concern by government authorities. The Chairman, PMG-MAN Committee Forum, Mr. Biola Adebayo...

    • Posted May 10, 2017
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  • World food prices fell by 1.8 % in April – FAO

    World food prices fell 1.8 per cent in April from the month before as values declined for all agricultural commodities except meat, the United Nations food agency said yesterday.  The Food and Agriculture Organisation’s (FAO) food price...

    • Posted May 8, 2017
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