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All posts by BusinessNews Staff

  • Union Bank declares N12.4billion profit in Q3 2013

    Union Bank of Nigeria Plc has declared a N12.4 billion profit-after-tax(PAT) for the third quarter nine-month period ended September 30, 2013. The Group’s profit for the same period according to an unaudited financial statement was put at...

    • Posted November 5, 2013
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  • Investors trade 254.64 million shares on Monday

    Transactions on the floor of the Nigerian Stock Exchange, NSE, ended on Monday with investors trading 254.64 million shares worth N3.40 billion in 4,593 deals. This was in contrast to the 226.69 million shares valued at N3.07...

    • Posted November 4, 2013
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  • FG projects: Finance ministry releases N160b 4th quarter capital votes

    The Federal Ministry of Finance has released the sum of N160 billion being fourth quarter capital allocation to Ministries, Departments and Agencies (MDAs). The funds is meant for the execution of capital projects captured in the 2013...

    • Posted November 4, 2013
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  • Sanusi calls for diversification in infrastructure financing

    The Governor of the CBN, Malam Sanusi Lamido Sanusi, on Monday called on the Federal Government to consider diversification in sourcing funds for infrastructure development. Sanusi made the call at the 2nd Biennial Regional Conference of the...

    • Posted November 4, 2013
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  • ASI inches up by 0.81% in 5 days

    The Nigerian Stock Exchange, NSE, All-Share Index, ASI, appreciated by 303.88 points or 0.81 percent within five days to close last Friday at 37,765.82 basis points as against the 37,461.94 basis points closing figure that was recorded...

    • Posted November 4, 2013
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  • Power sector to generate $40bn investment in 10 years – FG

    President Goodluck Jonathan on Friday said that more than $40 billion worth of investment would be generated by the power sector in the next 10 years. Jonathan, who was represented by the Minister of Industry, Trade and...

    • Posted November 2, 2013
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  • FG to give 10-year tax holiday to tyre manufacturers

    President Goodluck Jonathan in Lagos on Friday said that the Federal Government would soon commence a 10-year tax holiday for local tyre manufacturers. Jonathan made the declaration at the opening ceremony of the 2013 Lagos International Trade...

    • Posted November 2, 2013
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  • FG hands over Enugu Electricity Distribution Company to private investor

    The Federal Government on Friday handed over the Enugu Electricity Distribution Company, EEDC, to a private investor, the Interstate Electrics Limited. In his speech at the event, which took place at the corporate headquarters of EEDC in...

    • Posted November 1, 2013
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  • Nnaji wants FG tackle corruption in power sector

    The Immediate past Minister of Power, Prof. Bart Nnaji, on Friday said that adequate infrastructure, sound economic policies, secure environment, rule of law and stable political climate were needed to attract foreign investment to Nigeria. Nnaji, Chairman...

    • Posted November 1, 2013
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  • Market Cap gains N79billion on Thursday

    Transactions on the floor of the Nigerian Stock Exchange, NSE, ended Thursday with the market capitalisation of the listed entities climbing up to N12.020 trillion to gain N79 billion or 0.66 percent from Wednesday’s closing figure of...

    • Posted October 31, 2013
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