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All posts by BusinessNews Staff

  • FG approves low interest funding plan for cotton, textile manufacturers

    The federal government has approved a new funding mechanism that will ensure that cotton, textile and garment companies access long-term, low interest loans to finance their operations. This is part of the new National Cotton, Textile and...

    • Posted January 22, 2015
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  • 29 ships to arrive Lagos

    Twenty-nine ships are to arrive in Lagos ports with foods, petroleum products and other goods from January 20 to February 7. The Nigerian Ports Authority (NPA) disclosed this in its daily publication, the ‘Shipping Position,’ made available...

    • Posted January 22, 2015
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  • FG to insure civil servants for N6bn

    The Federal Government is set to pay N6bn premium to underwriters covering its civil servants for the current fiscal year, investigation has revealed. One of the underwriters of the Group Life Insurance Policy said the insurance would...

    • Posted January 22, 2015
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  • Deepwater projects may be cancelled – NNPC

    With the steep decline in global oil prices, several deepwater projects in the country face delays or outright cancellation, the Nigerian National Petroleum Corporation has said. The global benchmark Brent crude, which peaked at $115 per barrel...

    • Posted January 22, 2015
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  • Unlisted securities: NASD records N2.3bn transactions

    The trading of unlisted securities in the formal over-the-counter market is on the rise as more investors become aware of the benefits of the market, the NASD Plc, which operates the OTC market, has said. According to...

    • Posted January 22, 2015
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  • Naira falls to 189 at interbank market

    The naira fell against the dollar to 189 at the interbank segment of the foreign exchange market on Tuesday, up from 186.90 recorded on Monday. Dealers said the national currency tumbled against the greenback despite the Central...

    • Posted January 22, 2015
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  • Electricity bulk trader plans major cuts in PPA negotiation cycle

    The Nigerian Bulk Electricity Trading Plc (NBET) on Tuesday said it expects to shorten the multi-year negotiations often associated with the closure of Power Purchase Agreements (PPAs) with potential developers of electricity generation plants in Nigeria. NBET...

    • Posted January 22, 2015
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  • Nigeria’s rising debt profile worries industrialists

    The Lagos Chamber of Commerce and Industry (LCCI) has expressed concern over the rising debt profile of Nigeria, noting that the nation can never achieve meaningful economic growth and development if its debt profile is on the...

    • Posted January 21, 2015
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  • Nigeria’s electricity transmission capacity upgraded by 40% – Wakil

    The Minister of State for Power, Mohammed Wakil, has said the federal government has upgraded Nigeria’s electricity transmission capacity by an additional 40 per cent growth ratio within the last couple of years. Wakil noted in a...

    • Posted January 21, 2015
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  • Banks to pay for card frauds abroad – CBN

    The Central Bank of Nigeria on Monday ordered banks in the country to prevent payment cards (debit and credit) issued by them from working in fraud-prone countries, including the United States of America, South Africa and China....

    • Posted January 21, 2015
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