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All posts by BusinessNews Staff

  • Eko Disco procures 40 new transformers worth N200m

    The Eko Electricity Distribution Company (EKEDC) says it has acquired 40 new distribution transformers as part of efforts to boost the company’s operations during the yuletide. Principal Manager, Public Affairs Division of the EKEDC, Mr. Ademola Adegoke,...

    • Posted December 22, 2014
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  • Investors shun Nigeria’s cooking gas projects

    Local and international players in the Nigeria’s liquefied petroleum gas (cooking gas) subsector are holding back investments in the storage of the product as they do not consider this a profitable venture. Although the investment opportunities in...

    • Posted December 22, 2014
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  • Non-oil export revenue drops by 34%

    The total earnings from non-oil exports dropped by 34 per cent in just one month, the latest economic report released by the Central Bank of Nigeria has indicated. It put the revenue from the non-oil exports in...

    • Posted December 22, 2014
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  • FAAC Report: NNPC owes Federation Account N3.8tn

    A report by the Post Mortem Sub-committee of the Federation Accounts Allocation Committee (FAAC) has alleged the Nigerian National Petroleum Corporation (NNPC) had outstanding domestic crude sales proceeds due to the Federation Accounts valued at N3.87 trillion...

    • Posted December 22, 2014
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  • FG considers harmonising Nigeria’s renewable energy efforts

    A proposal submitted by the Minister of State for Power, Mohammed Wakil, is seeking to blend Nigeria’s efforts in growing her renewable energy sector. The proposal, Wakil told THISDAY in a recent interview in Abuja, will likely...

    • Posted December 22, 2014
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  • IMF cuts Nigeria’s growth projection to 5%

    The International Monetary Fund (IMF) has forecast that the Nigerian economy will record a lower growth of five per cent in 2015. The Nigerian economy had grown by 6.1 per cent in the third quarter of 2014....

    • Posted December 21, 2014
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  • Okonjo-Iweala faults Civil Servants’ claim on outstanding salaries

    The Coordinating Minister of the Nigerian Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, has carpeted the Association of Senior Civil Servants of Nigeria as peddlers of falsehood for alleging that government owed civil servants salaries. This...

    • Posted December 21, 2014
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  • FAAN suspends cargo operations to MMIA

    The Federal Airports Authority of Nigeria (FAAN) has directed operators of all cargo flights to find alternative entry points for their cargo rather than the Murtala Muhammed International Airport (MMIA), Ikeja, Lagos. This is because the cargo...

    • Posted December 21, 2014
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  • Anambra Government projects $1.5bn investments for 2015

    The investment climate of Anambra State seems bright as the state government projects to attract about $1.5 billion worth of foreign direct investments into the state’s economy by the first quarter of 2015. Already, the  government says,...

    • Posted December 21, 2014
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  • Nigeria attracts $4bn agric investments in two years — Minister

    The Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina, has said that President Goodluck Jonathan’s administration has attracted $4bn private sector investments in agriculture in the last two years. Adesina, who stated this in Abuja on...

    • Posted December 21, 2014
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