Economy  »  Headline News

Nigeria is not broke – Okonjo-Iweala

The Coordinating Minister for the Economy and Minister of Finance, Ngozi Okonjo Iweala has said that there is no financial crisis in the country. The minister disclosed this to a delegation of ...

Canadian company Horn Petroleum finds more Oil in Somalia

Horn Petroleum Corp confirmed the presence of oil at its Shabeel well in the Dharoor Valley basin of Somalia’s Puntland. “We are highly encouraged with these early results which indicate oil bearing ...

MTN Says Sabotage, Attacks Hampering Nigerian Services • Doesn’t Plan to List Shares on Stock Market

MTN Group Ltd. (MTN), Africa’s largest mobile-phone operator, said sabotage, terrorist attacks and shutdowns by state agencies seeking undue taxes are hampering efforts to meet service conditions set by Nigeria’s regulator. The Nigerian ...

Fashola Launches Mega Rice Processing Plant in Lagos

Lagos State Government Tuesday inaugurated a rice processing factory, which it said had the capacity to produce 20,000 metric tonnes per annum (equivalent to either 350,000 or 400,000 bags). Governor Babatunde Fashola ...

Expect More M & A Activity in the Banking Sector – Renaissance Capital

Yvonne Ike, CEO of Renaissance Capital West Africa,  has said Nigerians should be on the look out for more consolidation in the banking industry within the next 24 months. She made this ...

SEC NIGERIA SIGNS MOU WITH MAURITIUS

A bilateral Memorandum of Understanding (MoU) was on Tuesday (15th May 2012) signed by the Securities and Exchange Commission of Nigeria and the Financial Services Commission of Mauritius, at the ongoing IOSCO ...

FDI to Nigerian Construction Industry to reach $ 9.4 billion by 2021 – Business Monitor Int’l

INVESTMENT inflow into Nigeria’s construction industry is expected to reach $9.4 billion (N1.5 trillion) by 2021, Business Monitor International, has said in its first quarter report of 2012. In a report released ...

Glo rewards top dealers with 10 SUVs, other prizes

GLOBACOM has recently set new standards in dealership recognition when it presented spectacular prizes including 10 top of the range Special Utility Vehicles (SUVs), special crystal trophies, 43 utility vans, several million ...

Inflation Rises to 12.9% in April

Inflation rose to 12.9% YoY in April driven largely by non-food prices, according to a report from the National Bureau of Statistics. This represents an increase of 0.13% when compared to inflation ...