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  • Power output seen at 20% of 2016 peak after attacks

    Power output in Nigeria plunged to a fifth of this year’s peak after attacks on natural gas pipelines cut supplies of the fuel to electricity producers, according to Egbin Power Plc, the country’s largest generator. Total generation...

    • Posted May 26, 2016
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  • Foreign airlines’ $575m trapped in Nigeria — IATA

    The International Air Transport Association said that funds belonging to foreign airlines, which had been trapped in the country due to the Federal Government’s policy on foreign exchange, stood at $575m (N113.28bn) as of March this year....

    • Posted May 25, 2016
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  • Government opens up airport concession to foreign investors

    The Federal Government on Monday said foreign investors were free to take part in the planned concession of the nation’s four major airports. According to the government, the four airports up for concession are the Nnamdi Azikiwe...

    • Posted May 25, 2016
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  • NNPC didn’t remit N1.1tn in 2013 – NEITI

    The Nigeria Extractive Industries Transparency Initiative has accused the Nigerian National Petroleum Corporation of not remitting $3.8bn (about N748.6bn at the current official rate of N197 to a dollar) and N358.3bn to the Federation Account in 2013...

    • Posted May 25, 2016
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  • MPC may review exchange rate policy

    The Central Bank of Nigeria’s Monetary Policy Committee will likely review the naira exchange rate regime by adopting a more flexible and market-determined rate as economic recession looms over the country, it has been learnt. Vice President...

    • Posted May 25, 2016
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  • FG to build 30,000 housing units in four states

    The Federal Mortgage Bank of Nigeria (FMBN) and the Federal Housing Authority (FHA), have been directed by the federal government to synergise their skills and capabilities to build 30,000 housing units in Abuja, Lagos, Port Harcourt and...

    • Posted May 25, 2016
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  • Market sheds N35bn on profit taking as trading resumes

    Trading at the Nigerian stock market began the week on negative note as some investors locked in profit while others await the outcome of the Central Bank of Nigeria(CBN)’s Monetary Policy Committee (MPC). The market has recorded...

    • Posted May 25, 2016
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  • Senate urged to pass Audit Bill

    Members of the Senate have been advised to ensure the passage into law, the Audit Bill 2014. THISDAY learnt that the lawmakers are expected to deliberate on the bill this week. The bill seeks to repeal the...

    • Posted May 25, 2016
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  • NERC, SON may ban importation of high energy appliances

    The Nigerian Electricity Regulatory Commission (NERC) is considering a ban on importation of electrical appliances that consume huge volumes of electricity into the country, the agency’s acting head, Dr. Anthony Akah has said. Akah said in an...

    • Posted May 25, 2016
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  • FG plans economic strategy review to avert recession

    The Federal Government will soon commence a review of its economic strategies following the poor growth, which the economy recorded in the first quarter of the year. The move, a Presidency source said, became imperative in order...

    • Posted May 24, 2016
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  • More indigenous investors keen on insurance market

    As more foreign investors venture into the insurance sector, some local firms with huge potential have also shown readiness to add value to the growth of the industry. About 18 insurance broking firms and one underwriting company...

    • Posted May 24, 2016
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  • FG to revoke unused refinery licences – Kachikwu

    About 25 licences that were given to private operators between 2002 and 2014 to build refinery complexes in Nigeria will be revewed at again and those that have remained inactive will be  revoked, the Minister of State...

    • Posted May 24, 2016
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  • Oil producing areas demand Presidential Derivation Commission

    Oil-bearing communities drawn from the 10 oil and gas producing states and seven impacted areas yesterday demanded a Presidential Derivation Commission to effectively manage the 13 per cent accruing to the states every month. The fresh call,...

    • Posted May 24, 2016
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  • FG suspends talks with MTN

    Nigeria has reportedly suspended discussions with MTN over the record US$3.9billion fine imposed on the mobile operator’s subsidiary there while the country’s parliament investigates the size of the penalty and the way in which it was imposed....

    • Posted May 24, 2016
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