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All posts by BusinessNews Staff

  • Kwara sets up agency to access CBN’s MSME fund

    The Kwara State government has established micro-small and medium enterprises agency that would access N2 billion out of the N220 billion Central Bank of Nigeria(CBN’s) micro,  small and medium enterprises funds (MSME) development fund meant for the...

    • Posted December 18, 2014
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  • Dangote to invest additional $2bn in Refinery-Petrochemical Complex

    Aliko Dangote, Africa’s richest businessman, is increasing the size of his investment in an oil refinery, petrochemical and fertilizer plant by more than a fifth to $11 billion despite a looming slowdown in Africa’s biggest economy, reported...

    • Posted December 17, 2014
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  • Mansard moves to acquire Penman Pensions Limited

    Mansard Insurance Plc is to acquire 60 per cent of Penman Pensions Limited, a pension fund administrator. In a notification to the Nigerian Stock Exchange (NSE), Mansard said it intended to acquire the PFA and operate it...

    • Posted December 17, 2014
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  • West African leaders inaugurate common external tariff

    The Heads of State of West African countries on Monday in Abuja inaugurated the Common External Tariff of the Economic Community of West African States, which comes into force on January 1, 2015. By this, same duties...

    • Posted December 17, 2014
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  • CBN, banks pledge increased funding to Agric Sector

    The Central Bank of Nigeria (CBN) and deposit money banks in Nigeria, under the aegis of the bankers’ committee have restated their commitment to expanding bank lending in agro-business in order to discourage importation in the country....

    • Posted December 17, 2014
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  • FG hands over 51% stake in Stallion Properties to NNPC Pension Fund

    The federal government on Monday formally handed over its 51 per cent shares (161,814,000 shares) in the residual assets of Stallion Property and Development Company (SPDC) to the Nigerian National Petroleum Corporation Pension Fund Limited (NNPC PFL),...

    • Posted December 17, 2014
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  • Oil: Brent drops to five-year low at $61

    The average price of crude oil from the Organisation of Petroleum Exporting Countries fell below $60 for the first time since July 2009, according to data from the 12-member cartel. However, the global benchmark Brent, against which...

    • Posted December 17, 2014
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  • Metering: NERC begins monitoring of power firms

    The Nigerian Electricity Regulatory Commission has commenced a nationwide monitoring of power distribution companies in order to determine those that have failed to provide meters to electricity consumers who have paid for the device under the Credited...

    • Posted December 17, 2014
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  • Nigeria, Mexico to increase trade, investment

    The Federal Government, in a bid to improve bilateral relations with Mexico, has inaugurated the Nigeria/Mexico Chamber of Commerce and Industry. The move, according to the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, will help...

    • Posted December 17, 2014
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  • Telecoms industry attracted N1tn in two years – FG

    The Nigerian Telecommunications industry attracted $6bn (N1.08tn) in Foreign Direct Investment between 2011 and 2013, the Federal Government has said. The Minister of Communications Technology, Dr. Omobola Johnson, who said this at the 2014 Ministerial Platform held...

    • Posted December 17, 2014
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