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All posts by BusinessNews Staff

  • Aviation fuel didn’t cause crashes – Marketers

    Sahara Group has absolved itself and other petroleum product marketers of the accusation that the aviation fuel they supplied to airline operators caused majority of the crashes experienced in the country in recent times. The firm, on...

    • Posted September 12, 2015
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  • Rice sellers blame low patronage on smuggling

    The volume of rice entering Nigeria from Cotonou, Republic of Benin, has increased and local dealers are complaining about their inability to compete. According to a dealer who spoke with our correspondent, rice that comes in from...

    • Posted September 12, 2015
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  • SON seizes fake phones worth N150m

    The Standards Organisation of Nigeria has impounded over 1000 cartons of phones in Kano and arrested a Chinese woman, owner of the fake phone warehouse, Yi Fang Communication. According to a statement from the organisation, the state’s...

    • Posted September 12, 2015
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  • Our revenue will double with RIMS introduction – NPA boss

    The Managing Director of Nigerian Ports Authority (NPA), Habib Abdullahi has said revenue generated revenue is set to double in the months ahead following the introduction of “Integrated Revenue Invoicing Management System (RIMS)” by the Authority. RIMS,...

    • Posted September 12, 2015
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  • FG announces plan for new refineries

    The Group Managing Director, Nigerian National Petroleum Corporation, Dr. Emmanuel Ibe- Kachikwu, on Wednesday said the Federal Government would consider establishing new refineries for optimal performance of the oil sector. Kachikwu stated this while speaking to journalists...

    • Posted September 11, 2015
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  • JPMorgan: Investors lose N311bn in 24 hours

    Investors in the equities segment of the Nigerian Stock Exchange recorded heavy losses as stocks plunged on Wednesday, a day after JP Morgan said it would remove Nigeria from its government bond index. A sell-off in the...

    • Posted September 11, 2015
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  • NNPC opens new oil swap contracts

    The Nigerian National Petroleum Corporation may have set up four new crude oil swap contracts to replace those cancelled last month vital for bringing in about half of the country’s domestic fuel demand, industry sources have said....

    • Posted September 11, 2015
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  • Oil price fall stalls funding of SWF

    The continued fall in the prices of crude oil globally has stalled the Federal Government’s contribution to the country’s sovereign wealth fund. The Managing Director/Chief Executive, Nigeria Sovereign Investment Authority, Mr. Uche Orji, disclosed this to State...

    • Posted September 11, 2015
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  • Discos dump local meter makers for foreign firms

    Some electricity distribution companies have finally dumped the idea of sourcing their meters from indigenous manufacturers, and have resorted to buying from foreign firms like Huawei, ZTE, and others, findings by our correspondent on Tuesday showed. Some...

    • Posted September 11, 2015
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  • Agric Ministry introduces new measures for fertiliser allocation

    Bauchi State Director in the Federal Ministry of Agriculture, Alhaji Mohammed Yusuf, has described as successful the 2013/14 E-Wallet System of fertiliser allocation and distribution in the country. To this end, he said, the Federal Ministry of...

    • Posted September 11, 2015
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