All posts by BusinessNews Staff

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  Power sector faces collapse as banks halt loans

  The inefficiencies in the privatised power sector has made the Deposit Money Banks unwilling to provide loans to electricity generation and distribution firms, an investigation by our correspondent has shown. It was learnt that some banks were...

  • Posted August 23, 2016
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  Access Bank’s half-year profit grows by 28% to hit N50billion

  Access Bank Plc’s shares rose 4.8 per cent last Friday as investors reacted positively to its impressive half year audited results to June 30, 2106. Despite the headwinds in the operating environment, Access Bank reported positive top...

  • Posted August 23, 2016
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  FG urged to review policy framework for MSMEs

  The federal government has been advised to review and redefine its policies and regulatory frameworks for the micro, small and medium enterprises (MSMEs) in the country as part of measures to stimulate economic growth. Delivering the report...

  • Posted August 23, 2016
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  NEXIM Bank, AFREXIM Bank, others move to revamp cocoa sector

  In the bid to revive the ailing cocoa Industry in the country, the Afreximbank and the International Cocoa Organisation (ICCO) met with the Bank of Agriculture (BOA) and the Nigerian Export-Import Bank (NEXIM) to discuss possible ways...

  • Posted August 23, 2016
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  Manufacturers worry as profit margin shrinks

  These are not be the best of times for manufacturers in Nigeria as they face high operating costs, scarcity of foreign exchange, low capacity utilisation and a drastic drop in profit margins. Latest figures from the National...

  • Posted August 22, 2016
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  Nigeria may issue visa on arrival to all Africans from 2017

  The Minister of Foreign Affairs, Geoffrey Onyeama, has hinted that African travellers may no longer be required to obtain visas to visit Nigeria from next year. Onyeama made this statement at a Town Hall meeting held in...

  • Posted August 22, 2016
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  Nigeria’s oil output will remain low till 2017 — US

  Nigeria’s crude oil production is expected to remain depressed through 2017 as a result of militant attacks, the Energy International Administration, the statistical arm of the United States’ Energy Department, has said. The EIA, in a statement...

  • Posted August 22, 2016
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  NEPC eyes $12bn informal exports to increase revenue

  The Nigerian Export Promotion Council has concluded plans to establish border markets in six locations across the country as part of efforts aimed by reducing the loss of revenue by the government through informal trade. It was...

  • Posted August 22, 2016
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  Why we reduced wages of Seafarers – NLNG

  The Nigeria Liquefied Natural Gas (NLNG) has given an insight into why it decided to reduce the wages of the seafarers working for one of its subsidiaries, NLNG Shipping Management Limited (NSML). It stated that its decision...

  • Posted August 21, 2016
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  External reserves shed 2.1% in one month

  The nation’s external reserves fell to $25.78bn as of August 16, down by 2.11 per cent from its level a month ago, the Central Bank of Nigeria data showed on Thursday. This came just as the CBN...

  • Posted August 21, 2016
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