All posts by BusinessNews Staff

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  Nigeria tops list of countries with highest pipeline breaks – Nebo

  Minister of Power, Prof. Chinedu Nebo, has said that Nigeria presently prides itself as the only country in the world with the highest number of breaks and vandalism of key petroleum products pipelines. Nebo who disclosed this...

  • Posted March 4, 2015
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  Nigeria’s trade to rise by N2.43tn – NBS

  The country’s total merchandise trade is expected to rise by N2.43tn from the estimated figure of N25.17tn in December 2014 to N27.6tn by the end of this year, a document obtained from the National Bureau of Statistics...

  • Posted March 4, 2015
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  Nigeria-Ghana ferry service to commence soon

  Transport of passengers and goods between Nigeria and Ghana through the Atlantic Ocean is expected to commence soon. The Lagos Office Area Manager of the National Inland Waterways Authority, Mr. Mu’azu Sambo, told our correspondent in an...

  • Posted March 4, 2015
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  Lack of support by labour stalls refineries’ sale

  The Federal Government may have slowed down the process of selling the nation’s refineries following its failure to secure the support of labour unions. The government had in 2013 announced plans to sell the nation’s four refineries....

  • Posted March 4, 2015
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  Seven years needed for stable electricity – Leynes

  The Managing Director and Chief Executive Officer, Ibadan Electricity Distribution Company, Fortunato Leynes, has stepped down from his position and says it will take at least seven years for Nigerians to enjoy stable power supply. Leynes, who...

  • Posted March 4, 2015
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  Oil price slump: NSIA rules out withdrawal from SWF

  The federal government is unlikely to make withdrawals from Nigeria’s Sovereign Wealth Fund (SWF), even as the price of crude oil declines. The Nigeria Sovereign Investment Authority (NSIA), set up in 2012, isn’t yet large enough to...

  • Posted March 4, 2015
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  Chevron seeks to transfer disputed oil blocks to Seplat

  Contrary to the order by the Supreme Court that the parties in the case before the court in a suit involving Brittania-U Nigeria Limited and Chevron, Seplat Petroleum Development Company and others, on Oil Mining Leases (OMLs)...

  • Posted March 3, 2015
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  Nigeria’s revenue shrinks by 28% amid oil price slump

  The sharp fall in oil prices in the last seven months has resulted in a 28.05 per cent drop in Nigeria’s revenue. The country’s gross receipts fell to a total of N3.676 trillion between July 2014 and...

  • Posted March 3, 2015
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  Nigerian banks lose 24.5% of market value

  Tougher regulation and policies by the Central Bank of Nigeria, the devaluation of the naira and other economic headwinds have changed the fortunes of Deposit Money Banks in the country significantly, it has been gathered. The banks,...

  • Posted March 3, 2015
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  New Shell MD, Okunbor steps in as Sunmonu bows out

  The new Managing Director for Shell Petroleum Development Company (SPDC), Mr. Osagie Okunbor, has assumed office, succeeding Mr. Mutiu Sunmonu who retired on Saturday after 36 years of service. Okunbor’s  appointment had been announced in January while...

  • Posted March 3, 2015
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