All posts by BusinessNews Staff

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  External reserves fall by $2bn in three weeks

  Falling crude oil prices have made the nation’s external reserves to continue its free fall. According to a new data on the Central Bank of Nigeria’s website, the external reserves have dropped by $2bn in three weeks:...

  • Posted December 26, 2014
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  Discount Houses’ assets hit N155.3billion

  The total assets and liabilities of discount houses in the country stood at N155.3 billion at the end of the third quarter of 2014, a report has shown. This, indicated a decline of 10.3 per cent, below...

  • Posted December 26, 2014
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  NERC places six months embargo on electricity tariff hike for domestic consumers

  After its recent review of the Multi Year Tariff Order (MYTO-2) framework, the Nigerian Electricity Regulatory Commission (NERC) has approved new electricity rates that are expected to start running from January 1, 2015 for Nigeria’s Electricity Supply...

  • Posted December 26, 2014
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  Commercial users to pay more for electricity January

  Beginning from January 1, 2015, individuals and organisations that use electricity for commercial purposes will pay more than they are currently doing, the Nigerian Electricity Regulatory Commission has said. According to NERC, the approval for an increase...

  • Posted December 26, 2014
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  Food prices rise in Lagos markets

  As Nigerians join others across the universe to celebrate Christmas and the New Year, the prices of basic staple food items in major markets in Lagos have soared. Investigations by our correspondent showed that traders in the...

  • Posted December 26, 2014
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  BPE, core investor sign NITEL assets sale agreement

  The Bureau of Public Enterprises has signed an Assets Sale Agreement with the preferred bidder for the Nigerian Telecommunications Limited, the NATCOM Consortium. In a statement issued in Abuja on Wednesday, the Head of Public Communications, BPE,...

  • Posted December 26, 2014
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  Oil price decline not a surprise – NACCIMA

  The decline in crude oil prices did not come as a surprise as it had been long predicted but those responsible for managing the nation’s economy to no action to cushion the effect, according to the Nigeria...

  • Posted December 26, 2014
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  SEC, NBA to collaborate on Capital Market development

  As part of efforts to restore investors’ confidence in the Nigerian capital market, the  Securities and Exchange Commission (SEC)  and the Nigeria Bar Association (NBA)  are to collaborate going forward. Part of  the collaboration is the setting...

  • Posted December 26, 2014
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  11 ships laden with petrol arrive Lagos

  The Nigerian Ports Authority (NPA) on Tuesday said 11 ships laden with petrol had arrived in Lagos ports. This was contained in NPA’s daily publication, the ‘Shipping Position,’ made available to the News Agency of Nigeria (NAN)...

  • Posted December 25, 2014
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  FG’s revenue drops to N743.57billion in October

  The federally-collected revenue stood at N743.57 billion in October 2014, lower than both the monthly budget estimate and the receipts in the preceding month by 18 per cent and 10.6 per cent, respectively. The Central Bank of...

  • Posted December 25, 2014
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