All posts by BusinessNews Staff

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  Nigerian $25bn Technical Cooperation Fund is a sacrifice for Africa’s integration, says DG

  Suleiman Shuaibu, Acting Director-General, Directorate of Technical Cooperation in Africa (DTCA) says the $25 billion dollars Nigerian Technical Cooperation Fund (NTCF) has reinforced Nigeria’s sacrifice for the integration of Africa. Speaking on Wednesday, Shuaibu said that the...

  • Posted May 7, 2015
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  FG slashes 2015 fuel subsidy by 90 per cent following oil price slide

  The federal government will slash petrol subsidies by 90 percent this year because government revenues have been hit by the slump in oil prices. The government had said it would gradually phase out fuel subsidies which are...

  • Posted May 7, 2015
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  Dangote Cement production hits 30mmt across Africa

  Aliko Dangote, president, Dangote Group, has disclosed that the Dangote Cement annual production across Africa now stood in the region of 30 million metric tons (mmt), a feat that is earning Nigeria respect among the comity of...

  • Posted May 7, 2015
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  CBN says govt prudence saved N116bn H2 2014

  The Central Bank of Nigeria (CBN) on Tuesday dismissed an earlier report suggesting that the Federal Government overspent the budget by N365.35 billion during the second half of 2014. The bank says its Financial Stability Report from...

  • Posted May 7, 2015
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  Business leaders fear for corporate governance in Nigeria as draft code plans excessive control

  As the May 14, 2015 deadline for public comments on Nigeria’s draft code of corporate governance (NCCG) approaches, business leaders and investors have expressed fears that the policy document could wield excessive powers over Nigeria’s already challenged...

  • Posted May 7, 2015
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  PenOp remits N260bn to retirees

  THE Pension Fund Operators Association of Nigeria, PenOp, says it has remitted N260 billion of the contributory pension fund to retirees from the inception of the scheme till March 2015. The Association made this disclosure at the...

  • Posted May 6, 2015
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  Ekiti proposes austerity measures as wage bill overshoots by N600m

  Indications emerged on Monday that Ekiti State may embark on austerity measure approach to run governance as the state was recently hit by fever of dwindling federal allocation, leaving the state to shop for about N600 million...

  • Posted May 6, 2015
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  Govt borrows N473bn to meet up with recurrent expenditure, says Okonjo-Iweala

  ABUJA — The Minister of Finance and Co-ordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala, yesterday, put to rest fears of immediate removal of fuel subsidy, as she confirmed that N145.2 billion provision was made for it...

  • Posted May 6, 2015
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  Okonjo-Iweala, others have High BP over economy

  The Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi okonjo-Iweal, disclosed, Tuesday, that the task of managing the nation’s economy has given her, the Minister of State, Amb. Bashir Yuguda , the Permanent Secretary...

  • Posted May 6, 2015
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  Transaction fees yield N1.6bn into FMDQ OTC treasury

  Debt capital market dealers on the platform of FMDQ plc boosted the Over-the-Counter (OTC) exchange revenue by about N1.6 billion paid as transaction fees last year, for using the OTC platform. Products traded on the FMDQ platform...

  • Posted May 6, 2015
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