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All posts by BusinessNews Staff

  • NERC_160905022
    FG directs customers to buy electricity from GenCos

    The Federal Government has directed that certain customers can now buy electricity directly from Generation Companies (GenCos). The Minister of Power, Works and Housing, Babatunde Fashola declared the Customers Eligibility in a statement issued by the Nigerian...

    • Posted May 20, 2017
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  • Yemi-Osinbajo-0305-696x522
    Senate gives Osinbajo two weeks to submit CBN, NNPC budgets

    The Senate yesterday issued a two-week ultimatum to Acting President Yemi Osinbajo to submit the budgets of the Central Bank of Nigeria (CBN), Nigerian National Petroleum Corporation (NNPC), Federal Inland Revenue Service (FIRS) and 35 other federal...

    • Posted May 19, 2017
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  • Senate
    Senate proposes compulsory health insurance

    All countries that have made substantial progress towards universal health coverage have done so because they have made it mandatory,” he said. Tejuosho, however said making health insurance compulsory without sufficient arrangements for subsidization will not work....

    • Posted May 19, 2017
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  • crude-oil
    U.S increases import of Nigerian crude

    US crude imports from Nigeria rose by 13.6 per cent to 325,000 barrels per day from 286,000 b/d the most since March, preliminary data released by the US Energy Information Administration (EIA) for week ended May 12,...

    • Posted May 19, 2017
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  • NCC_065029812
    One million telecom consumers activate 2442 code – NCC

    Prof. Umar Danbatta, the Executive Vice Chairman, the Nigerian Communications Commission (NCC), has said more than one million consumers activated the 2442 Do-Not-Disturb code within two months. Danbatta made this known during the Lagos Launch of 2017...

    • Posted May 18, 2017
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  • Osinbajo_012452437
    I will sign 2017 budget – Osinbajo

    Acting President Yemi Osinbajo said last night that he would assent to the 2017 budget. Information Minister Lai Mohammed had earlier told State House reporters after the Federal Executive Council meeting chaired by Osinbajo that the decision...

    • Posted May 18, 2017
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  • Power-transmission-lines
    Grid loses 2,424mw to gas, transmission constraints

    The Nigerian electricity grid lost 2,424 megawatts (mw) to gas, water and transmission line constraints across the Generation Companies (GenCos) last Friday, the Daily Trust reports. Industry statistics revealed that 1,962mw was lost due to gas supply...

    • Posted May 17, 2017
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  • stock-market-quotes NSE
    Equities lose N235bn to profit-taking

    The Nigerian equities market yesterday ran bearish to a tune of N235 billion after many stocks witnessed profit-taking by investors, which was triggered by the recent bullish market trend. The profit-taking trend commenced on Friday when the...

    • Posted May 17, 2017
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  • Reps_205305210
    Crude oil pre-shipment inspection contracts breach due process – Reps

    A House of Representatives panel yesterday uncovered several breaches in the procurement processes in the contracts for the pre-shipment inspection  of Nigeria’s crude oil. The committee on public procurement, chaired by Rep Wole Oke (PDP, Osun), established...

    • Posted May 17, 2017
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  • CBN
    Nigeria interbank rate jumps after CBN liquidity mop-up

    Nigeria’s overnight interbank lending rate rose sharply to 29.5 percent on Friday, up from 19 percent last week, after the Central Bank of Nigeria (CBN) sold treasury bills to soak up liquidity from the banking system in...

    • Posted May 15, 2017
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