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All posts by BusinessNews Staff

  • Naira rebounds on new Forex rules

    The naira recovered to trade broadly flat after dipping 2.5 per cent in thin trade yesterday as dealers remained reluctant to quote prices owing to central bank moves to crack down on the speculation it blames for...

    • Posted December 24, 2014
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  • Transitional electricity market begins January 1

    The Federal Government has announced that the effective date for the commencement of all contractual obligations in the Nigerian electricity market has been fixed for January 1, 2015. It also said the long awaited Transition Electricity Market...

    • Posted December 24, 2014
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  • BOI, 10 banks partner to enhance SME financing

    Small and Medium Enterprises (SMEs) in the country monday received a major boost following the announcement of the Bank of Industry’s (BOI’s) partnership with 10 banks to tackle their funding  challenges. The banks are Access Bank Plc,...

    • Posted December 24, 2014
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  • FG assures Civil Servants of December salaries

    The federal government monday assured workers that payment of December salaries would take effect soon as it had started processing it since Friday. This is contained in a statement issued by Ministry of Finance, signed by Mr...

    • Posted December 24, 2014
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  • Nigeria records zero oil exploration in four months

    Between July and October this year, there was no single case of crude oil exploration in the country, findings by our correspondent have shown. Between January and June this year, the country recorded five exploration activities in...

    • Posted December 24, 2014
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  • NITEL, M-Tel owe N300bn – BPE

    The Bureau of Public Enterprises has put the debt liabilities of the Nigerian Telecommunications Limited and its mobile subsidiary, the Nigerian Mobile Telecommunications Limited, at over N300bn. In a statement made available to our correspondent in Abuja...

    • Posted December 24, 2014
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  • Power firms to get N213bn loan in January

    The Central Bank of Nigeria on Monday said that the N213bn Nigerian Electricity Market Stabilisation Facility, meant to resolve liquidity challenges in the power supply industry, would be disbursed to the beneficiaries by Deposit Money Banks from...

    • Posted December 24, 2014
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  • World Bank pledges N282bn to Nigerian power sector

    The World Bank has pledged $1.75bn (N282.6bn) to support the Nigerian power sector reform over the next four years, the Bureau of Public Enterprises has said. A statement issued by the Head of Public Communications, BPE, Mr....

    • Posted December 24, 2014
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  • Moody’s: Nigerian economy resilient despite oil plunge

    One of the leading global credit rating agencies, Moody’s Investors Service has said that the Nigerian economy remains resilient in the face of falling oil prices even as the currency slumped to a record low and growth...

    • Posted December 24, 2014
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  • Dangote Cement hits Cameroun market with 1.5mtpa

    The first set of the Dangote Cement bags, the 3x Premium, will hit the market in Cameroun in January 2015, the management of the company has said. Conducting the Cameronian media round the 1.5 million metric tonnes...

    • Posted December 23, 2014
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