All posts by BusinessNews Staff

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  Tokunbo dealers to sell Nigeria-made cars

  Used car dealers may soon begin to sell made-in-Nigeria vehicles as part of measures to incorporate them into the new automotive policy of the Federal Government. Already, the Tokunbo or used car dealers are holding talks with the National...

  • Posted November 14, 2014
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  NERC accuses electricity firms of inflating bills

  Electricity distribution companies in the country are enriching themselves corruptly through the issuance of estimated bills to consumers, according to the Nigerian Electricity Regulatory Commission. This is following complaints by consumers who decried the over 100 per...

  • Posted November 14, 2014
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  Oando, PZ, others raise NSE index by 0.9%

  Gains by Oando Plc and PZ Cussons Nigeria Plc and 34 other stocks on Wednesday helped the Nigerian Stock Exchange to close on a positive note, with the NSE All Share Index rising for the third straight...

  • Posted November 14, 2014
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  Nigerian airlines earn N73bn from ticket sales

  Nigerian owned airlines realised N73bn from ticket sales in 2013, while international counterparts operating in the country made over N231bn in the same period. The Director, Consumer Protection, Nigerian Civil Aviation Authority, Mr. Adamu Abdulahi, disclosed these...

  • Posted November 14, 2014
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  Oil slide echoes 2008 pressure for Nigeria, Saudi to defend currency

  The sharpest drop in oil prices since 2008, coupled with a surge in the dollar, are testing the  capacity of energy-producing nations to defend their currency pegs. Even Saudi Arabia, whose $745 billion reserves may allow it...

  • Posted November 14, 2014
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  NNPC halts sale of Shell’s oil block to Creststar

  The year-long process by Shell Petroleum Development Company (SPDC) and its joint venture partners to divest some of their onshore assets has run into a hitch, as the Nigerian National Petroleum Corporation (NNPC) has moved to stop...

  • Posted November 13, 2014
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  Nigeria’s Forex reserves hit 4-month low

  Nigeria’s foreign exchange reserves fell to a 4-month low of $37.9 billion as of November 7, down by 3.99 per cent month-on-month after the Central Bank of Nigeria (CBN) sold dollars to banks to prop up the...

  • Posted November 13, 2014
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  Falling oil prices threaten budget implementation

  There is a likelihood that the Federal Government will record a 36 per cent drop in budget implementation if oil prices do not surpass the $80 mark, with analysts saying that the nation may need the commodity...

  • Posted November 13, 2014
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  Manufacturers lose N22bn through Shell Gas Cut

  The cut in gas supply to about 87 manufacturing companies in the Agbara and Ota industrial belts of Lagos and Ogun States has cost manufacturers about N22 billion in the past 16 days of the crisis. Four...

  • Posted November 13, 2014
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  Nigeria records improved Business Confidence

  The first Standard Chartered and MNI Business Statement Indicators (BSI) have revealed robust business confidence in Nigeria last month. It also stated that demand and output in the country have been increasing at the fastest pace since...

  • Posted November 13, 2014
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