All posts by BusinessNews Staff

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  Markets watch CBN for direction as MPC meets

  As the Central Bank of Nigeria (CBN) commences its 252nd Monetary Policy Committee (MPC) meeting today, investors would been looking up to the committee for favourable rate decisions that would spur investments as well as stimulate the...

  • Posted September 20, 2016
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  Minister assures workers won’t lose jobs over concession

  The Minister of State, Aviation, Senator Hadi Sirika, has assured the unions in the aviation industry that no worker will be sacked in the proposed concession programme of the federal government.  The government has set out plan...

  • Posted September 20, 2016
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  Recession: Investment inflow shrinks by N642bn under Buhari

  The Nigerian economy recorded a total decline of $2.1bn in investment inflow in the first 12 months of the administration of President Muhammadu Buhari. The $2.1bn, when converted based on the N305.5 per dollar official exchange rate...

  • Posted September 19, 2016
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  BPE advises IBEDC on metering

  The Acting Director-General, Bureau of Public Enterprises, Dr. Vincent Akpotaire, has called on the management of the Ibadan Electricity Distribution Company to source for long-term funds from diverse sources in order to solve the metering challenge and...

  • Posted September 19, 2016
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  Nigeria drops to seventh position as cocoa producer

  Nigeria has dropped to the seventh position from fourth as a top cocoa producer in the world, according to data made available by the International Cocoa Organisation. The President, Cocoa Association of Nigeria, Mr. Sayina Riman, said...

  • Posted September 19, 2016
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  Oil hits one-month low, Nigeria plans higher output

  Oil fell to a one-month low in New York on speculation that the resumption of shipments from Libya and Nigeria might add to the global surplus. Futures dropped as much as 2.7 per cent on the New...

  • Posted September 18, 2016
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  Interbank lending rate rises on cash shortage

  The overnight naira interbank lending rate rose sharply to an average of 40 per cent on Friday, up from 15 per cent last Friday after the Central Bank of Nigeria debited bank accounts for Treasury bills and...

  • Posted September 18, 2016
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  Inflation rate increases to 17.6%

  The National Bureau of Statistics on Friday said that the Consumer Price Index which measures inflation increased year-on-year from 17.1 per cent in July to 17.6 per cent in the month of August. The bureau in the...

  • Posted September 18, 2016
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  Economic downturn: More airlines may close shop

  There is an indication that more Nigerian airlines may close shop as the current economic downturn has hampered airlines operations. Industry experts have expressed concern that the forex scarcity is taking a huge toll on the aviation...

  • Posted September 17, 2016
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  Economic recession: FG urged to focus on N5trn maritime industry

  The federal government has been urged to shift attention to the maritime sector to revive the ailing Nigerian economy. The Nigerian maritime industry is valued at over N5trillion in terms of annual revenue. Experts have over the...

  • Posted September 17, 2016
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