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All posts by BusinessNews Staff

  • Customs impound N54m expired poultry products

    The Federal Operations Unit Zone A of the Nigeria Customs Service has impounded over 10,000 cartons of frozen poultry products, with a duty paid value of N54m. The seizures were said to have been made in two...

    • Posted December 21, 2014
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  • 2015 budget proposal threatens infrastructure projects

    The Federal Government may find it difficult to implement key infrastructure projects next year going by the details of the 2015 budget proposal, which was presented to the National Assembly on Wednesday, findings have shown. This came...

    • Posted December 21, 2014
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  • Telecom operators bemoan multiple taxation

    Nigeria’s telecommunications operators face multiple taxes and fees at local, state and federal level, with service disruptions related to tax claims costing the sector millions of dollars annually,two of the country’s mobile operators told Reuters. Mobile phone...

    • Posted December 20, 2014
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  • Shell resumes Nigeria EA oil production

    Royal Dutch Shell on Thursday said it had resumed production of Nigerian EA crude oil and lifted its force majeure on the grade after completing repairs to a mooring platform. Shell shut down output on June 12...

    • Posted December 20, 2014
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  • CBN bars banks from holding funds in dollars

    The Central Bank of Nigeria has barred commercial banks from holding any part of their funds in United State dollars as it steps up efforts to reduce pressure on the naira. The CBN, in a circulated dated...

    • Posted December 20, 2014
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  • FG moves to stop Maritime workers strike

    Maritime Workers of Nigeria (MWUN) Wednesday shut the nation’s ports operations nationwide in protest against federal government refusal to resolve lingering industrial dispute in the sector. It was gathered that as early as 7 am, workers were...

    • Posted December 20, 2014
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  • Air connectivity: IATA calls for action among African states

    The Director-General and Chief Executive Officer of the International Air Transport Association (IATA), Tony Tyler has urged African states to implement the Yamoussoukro Decision (YD), which was a declaration that African countries should open their skies to...

    • Posted December 20, 2014
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  • Naira devaluation: Manufacturers consider price hike

    Manufacturers in the country who are currently battling to come to terms with the devaluation of the naira, say the cost of production has risen and will impact on the cost of goods and services in the...

    • Posted December 20, 2014
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  • NSE index gains 1.21% as equities stop decline

    Bargain hunting outweighed selling pressure on Thursday, enabling equities to stop an eight-day drop. This was achieved on the back of gains by 24 stocks, led by Lafarge Africa Plc, which rose by 7.25 per cent or...

    • Posted December 20, 2014
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  • FG begins construction of 100,000 houses for workers

    The Federal Government on Tuesday officially commenced the construction of 100,000 mass housing units for workers across the country. According to the government, the houses will be for workers in all states of the federation, adding that...

    • Posted December 20, 2014
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