All posts by BusinessNews Staff

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  Nigeria’s oil sector contribution to GDP lowest in OPEC

  The contribution of Nigeria’s oil sector to the Gross Domestic Product is lower than that of many of the other members of the Organisation of Petroleum Exporting Countries, analysis of data obtained from the 12-member oil cartel...

  • Posted December 25, 2014
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  Falling oil prices may push banks’ cost of risk to 4.4% in 2015

  Banks’ exposure to the oil and gas sector in the face of tumbling oil prices may raise the industry’s cost of risk (COR) to an aggregate of 4.4 per cent in 2015, a report has shown. According...

  • Posted December 25, 2014
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  Nigeria to strengthen trade relations with other nations – Jonathan

  President Goodluck Jonathan on Tuesday pledged that his administration would continue to effectively encourage and support the development of more mutually beneficial trade and economic relations between Nigeria and other developing nations. The president dropped the assurance...

  • Posted December 25, 2014
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  Banks move to cut non-performing loans

  Weighed down by rising non-performing loans, Deposit Money Banks have begun aggressive loan recovery exercises aimed at cutting down their NPLs. It was learnt on Tuesday that the NPLS of many DMBs had risen above the regulatory...

  • Posted December 25, 2014
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  Importers condemn suspension of cargo flights to MMIA

  Importers who receive their goods at the Murtala Muhammed International Airport, Lagos have lamented the suspension of cargo flights into the airport. The Federal Airport Authority of Nigeria had on Friday suspended cargo flights into the MMIA...

  • Posted December 25, 2014
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  Budget: FG slashes projected oil revenue by N1tn

  The intense pressure on oil global oil prices may have forced the Federal Government to scale down the projected oil and gas revenue for 2015 by N1.1tn to N6.05tn from N7.16tn approved in this year’s budget. The...

  • Posted December 25, 2014
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  Jonathan to inaugurate 40MW Kashimbila Dam in February

  President Goodluck Jonathan will inaugurate the 40 megawatts Kashimbila multipurpose dam in February next year, the Minister of Water Resources, Mrs. Sarah Ochekpe, has said. According to her, the Federal Government will maximise opportunities such as potable...

  • Posted December 25, 2014
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  NACCIMA predicts tough times for foreign, local investors

  The Nigerian Association of Chambers of Commerce and Industry, Mines and Agriculture (NACCIMA) on Tuesday stated that local and foreign investors in the country must brace up for an extremely turbulent  operating environment in the coming year,...

  • Posted December 25, 2014
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  NSE moves 581.902m shares worth N3.21bn

  Investors on the Nigerian Stock Exchange (NSE) on Wednesday staked N3.21 billion on 581.902 million shares in 3,448 deals. The News Agency of Nigeria (NAN) reports that the volume of transactions represented 32.01 per cent increase over...

  • Posted December 24, 2014
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  Nigeria International Debt Fund gets ‘A’ Rating

  The Nigeria International Debt Fund (NIDF), an NSE listed mutual fund that invests in fixed income securities of federal and state governments, has been rated “A-” by Global Credit Rating Company (GCR). GCR was quoted to have...

  • Posted December 24, 2014
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