All posts by BusinessNews Staff

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  Power, petroleum ministries to fuel generators with N213m

  Despite being the sectors saddled with the responsibility of ensuring adequate power supply for the country, the Federal Ministries of Power and Petroleum Resources and their various agencies will spend a total of N213.64m to fuel and...

  • Posted January 12, 2015
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  FDC: Nigeria to Record 10-12% Inflation in 2015

  Amidst the crisis triggered by the plunge in crude oil prices and the corresponding pressure on the naira, analysts from the financial and investment advisory firm, Financial Derivatives Company, have put Nigeria’s inflation figure at 10-12 per...

  • Posted January 12, 2015
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  State Governments, banks on collision course over peg on withdrawals

  Indications emerged at the weekend that a combination of dwindling revenue of the nation’s money deposit banks on the one hand and a cocktail of measures put in place by the Central Bank of Nigeria (CBN) to...

  • Posted January 12, 2015
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  Nigeria set to achieve self-sufficiency in rice production – Investors

  The Nigerian Rice Investors’ Group has said that the rice import quota policy of the federal government would ensure self-sufficiency in rice production in the country. The group also stated that the import quota allocation given to...

  • Posted January 12, 2015
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  SEC announces exit of Oteh as Director-General

  Lagos, Jan. 11, 2015 (NAN) The Securities and Exchange Commission (SEC) on Sunday announced the exit of Ms Arunma Oteh as the commission’s Director-General. The commission made the disclosure in a statement issued by its management and...

  • Posted January 11, 2015
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  Nigerian stocks record worst year start, down 13% in week

  What shaped the past week Global Markets: Following two consecutive sessions of decline, U.S. and European stocks rebounded mid-week on speculation that Central Banks would continue monetary support even as the looming threat of deflation in the...

  • Posted January 11, 2015
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  Price slump, weak demand reduce oil production

  Nigeria’s crude oil production, which has been going downward in the past few years, looks set to decline further this year amid the weak global demand, reduction in capital investment by oil companies on the back of...

  • Posted January 11, 2015
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  FG can’t account for $14.6bn oil money – Aregbesola

  The Osun State Governor, Rauf Aregbesola, on Friday accussed President Goodluck Jonathan of failing to account for $14.6bn oil proceeds for the period from July 2013 to July 2014. Aregbesola said this when the vice-presidential candidate of...

  • Posted January 11, 2015
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  SON mulls stiffer sanctions against substandard goods

  Standards Organisation of Nigerian, SON, said it is considering imposing additional sanctions on importation of substandard goods. The Director General, Standards Organisation of Nigeria (SON) Dr. Joseph Odumodu disclosed this at a stakeholders’ forum on the maritime industry...

  • Posted January 11, 2015
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  179.7MT of rice imported in December

  Despite efforts by  the federal government to improve the nation’s local rice production, a total of 179,682 metric tones of the staple food were imported into the country last month alone. Another 30,000 metric tones of the product...

  • Posted January 11, 2015
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