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  • 145 textile firms lost to economic downturn — FG

    The Federal Government on Monday said that a total of 145 textile companies had shut down operations between 1980 and now due to harsh economic climate. The Minister of State for Industry, Trade and Investment, Aisha Abubakar,...

    • Posted April 6, 2016
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  • 24 firms lose, market capitalisation sheds N54bn

    Losses in 24 firms at the close of trading on the floor of the Nigerian Stock Exchange crashed market capitalisation by N54bn. The NSE All-Share Index also dropped to 25,349.07 basis points from 25,507.09 basis points. On...

    • Posted April 6, 2016
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  • NCC boosts Federation Account by N70bn

    The Nigerian Communications Commission has boosted the Federation Account by N70bn in the last six months, its executive vice chairman, Prof. Umar Danbatta, has said. Danbatta said this in a lecture entitled: ‘Mainstreaming ICT for Poverty Reduction...

    • Posted April 5, 2016
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  • NSIA records N10.58bn growth in income

    The Nigerian Sovereign Investment Authority, the agency managing the Sovereign Wealth Fund, said it recorded an increase of N10.58bn in total comprehensive income from N15.77bn in 2014 to N26.35bn in 2015. The Managing Director, NSIA, Mr. Uche...

    • Posted April 5, 2016
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  • Dollar scarcity: Firms struggle to repay foreign loans

    Although foreign loans are attractive for their single digit and low interest rates, the continued depreciation in value of the naira against major foreign currencies has turned them into a huge burden for borrowers in Nigeria. The...

    • Posted April 5, 2016
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  • NCAA directs privately owned jets registered as commercial

    The Nigerian Civil Aviation Authority (NCAA) has issued a directive that privately owned jets should now be registered as commercial aircraft because many of them are used for charter services whereas they were registered as privately owned....

    • Posted April 5, 2016
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  • Fuel crisis: NNPC, major marketers’ filling stations engage in racketeering

    Despite the efforts by the Minister of State for Petroleum, Dr. Ibe Kachikwu to end the current shortages of petrol across the country, some retail outlets owned by the Nigerian National Petroleum Corporation (NNPC) and the major...

    • Posted April 5, 2016
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  • NSIA closes in on signing concession contract for Second Niger Bridge

    The process for the construction of the Second Niger Bridge remains on course with the signing of the concession agreement expected to be consummated in the second half of this year, the Managing Director, Nigerian Sovereign Investment...

    • Posted April 5, 2016
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  • IOCs to support oil marketers’ demand for forex – NNPC

    The Chief Operating Officer, Downstream Division of the Nigerian National Corporation, Mr. Ikem Obih, has disclosed that the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has negotiated a workable solution to address the challenges of...

    • Posted April 5, 2016
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  • CBN allocates $921m to banks in one month

    As the Central Bank of Nigeria (CBN) continues with its rationing of the greenback, bank returns on foreign exchange utilisation bought from the central bank and compiled by THISDAY have shown that it allocated $921,352,549 to 17...

    • Posted April 5, 2016
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  • FG returns petrol subsidy, retains official pump prices

    The Federal Government on Saturday recommenced the payment of subsidy on petrol as it subsidised the commodity by N5.84 for every litre of premium motor spirit consumed in Nigeria. Subsidy on petrol was stopped in January after...

    • Posted April 4, 2016
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  • Nigeria, China to improve food security in Africa

    The International Institute of Tropical Agriculture and China’s Academy of Tropical Agricultural Sciences have begun a partnership to improve food security and create jobs for the growing youth population in Africa. The new partnership is part of...

    • Posted April 4, 2016
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  • New IMO rule threatens Nigeria’s exports

    Come July 1, Nigeria’s export products may be rejected if they or the containers in which they are loaded are not weighed before being loaded onto ships. The rule, which is a convention of the International Maritime...

    • Posted April 4, 2016
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  • ntel gets NCC approval to roll out 4G services

    The Nigerian Communications Commission has given the management of ntel permission to proceed with the roll out of its fourth generation Long Term Evolution network for commercial use in Lagos and Abuja. The go-ahead order was subsequent...

    • Posted April 4, 2016
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