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All posts by BusinessNews Staff

  • We have to deal with foreign exchange challenges to end fuel shortages – Ibe Kachikwu

    Nigeria’s oil sector reforms Czar and Group Managing director of the Nigerian National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu, is facing, perhaps, the toughest test of his glittering career as fuel scarcity persists across the country, threatening...

    • Posted December 20, 2015
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  • FIRS widens tax net, targets .5m corporate organisations, 27m individuals

    As Nigerian banks grapple with various challenges in recent times, perhaps, one of the lessons learnt is the need to think beyond the box in seeking answers to various questions raised by a raft of regulatory headwinds...

    • Posted December 20, 2015
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  • Petrol may sell below N87 per litre next year – NNPC

    Following recent disclosure by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu that government would review and present new cost-reflective pricing template for domestic petrol sales and consumption, the Nigerian National Petroleum Corporation (NNPC) and...

    • Posted December 20, 2015
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  • SON to penalise sellers of substandard products

    The Standards Organisation of Nigeria says it will by the first quarter of 2016 begin to penalise retailers and wholesalers of substandard products in the country. The Director-General, SON, Dr. Joseph Odumodu, said this at the SON-China...

    • Posted December 20, 2015
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  • NUPENG warns NNPC against sacking 1,100 workers

    The Nigeria Union of Petroleum and Natural Gas Workers has warned the management of the Nigerian National Petroleum Corporation against the plan to sack about 1,100 employees of the corporation. The oil workers’ union, in a statement...

    • Posted December 20, 2015
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  • Nigeria’s trade balance weakens as oil prices bite

    Nigerian exports plunged in the third quarter from a year ago and imports also fell, the National Bureau of Statistics said, as currency controls introduced by the Central Bank of Nigeria this year to support the economy...

    • Posted December 20, 2015
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  • Sterling Bank to raise N35bn in fresh capital

    Sterling Bank Plc will raise N35bn ($177m) in Tier II capital between January and February to expand its loan book next year, its Chief Executive Officer, Mr. Yemi Adeola, has said. He said the mid-tier lender saw...

    • Posted December 19, 2015
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  • BVN: Beware of fraudsters – CBN warns bank customers

    Following repeated complaints from bank customers over unsolicited mails and text messages, alerting them of deactivation or suspension of their bank  accounts due to   uncompleted   Bank   Verification Number (BVN) registration, the Central Bank of Nigeria (CBN) has...

    • Posted December 19, 2015
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  • NERC approves eight new licensees to generate 1,648MW of electricity

    The Nigerian Electricity Regulatory Commission (NERC) has stated that it has given eight new companies with a combined capacity to generate 1,648.25 megawatts (MW) of electricity, operational licenses to begin developing their respective projects. A statement from...

    • Posted December 19, 2015
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  • Buhari approves NNPC’s unbundling into four autonomous units

    President Muhammadu Buhari has approved the next restructuring phase of the Nigerian National Petroleum Corporation (NNPC), the Minister of State for Petroleum Resources and the corporation’s group managing director, Dr. Ibe Kachikwu, disclosed on Thursday. Kachikwu said...

    • Posted December 19, 2015
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