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  • Traders recount losses as 2016 Budget awaits passage

    Though the controversial 2016 Budget is making a headway going by latest reports, Nigerian traders are still recounting their losses. The 2016 budget which was initially slated for passage on February 25th has been a subject of...

    • Posted March 6, 2016
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  • Power generation rises to 4387mw, as NERC monitors Discos

    The Nigerian Electricity Regulatory Commission (NERC) last night said that nationwide power generation had again began to rise and was at 4387 megawatts (MW) as at yesterday evening. NERC said that this came about following the successful...

    • Posted March 6, 2016
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  • Manufacturers now spend N9bn daily to generate power – MAN

    The National President of the Manufacturers Association of Nigeria (MAN), Dr. Frank Udemba Jacobs, on Friday put the daily cost incurred by its members in generating electricity to power their industries at over N9 billion. Speaking at...

    • Posted March 6, 2016
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  • Financial inclusion: CBN approves Innovectives as super-agent

    The Central Bank of Nigeria on Wednesday granted an approval-in-principle to Innovectives to operate as a super-agent in the country’s financial services system. Innovectives is a provider of secure and affordable transaction channels for the unbanked and...

    • Posted March 5, 2016
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  • NSE market capitalisation rises by N114bn

    The market capitalisation of the Nigerian Stock Exchange rose by N114bn after the close of trading on the floor of the exchange on Thursday. The NSE All-Share Index hit 25,816.29 basis points from 25,396.83, while the market...

    • Posted March 5, 2016
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  • CBN, Abia Government sign pact on creation of Entrepreneurship Centre in South East

    The Central Bank of Nigeria (CBN) and the Abia State Government have signed a tripartite agreement on the establishment of the Entrepreneurship Development Centre (EDC) for the South-east zone of the country. Abia State had outclassed other...

    • Posted March 5, 2016
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  • MTN sets aside N119bn for NCC fine, mulls NSE listing

    Executive Chairman, MTN Group, South Africa, Phuthuma Nhleko, said on Thursday that the company has set aside N118.8 billion (about $600 million) to cover a potential settlement of the fine imposed on its Nigerian subsidiary by the...

    • Posted March 5, 2016
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  • FG to unbundle NNPC into five operating zones, 30 companies

    The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on Thursday disclosed that the federal government would next week announce the final outcome of its planned major overhaul of the Nigerian National Petroleum Corporation (NNPC). Kachikwu in...

    • Posted March 5, 2016
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  • Aviation expert cautions against establishment of national carrier

    Aviation industry expert and a former Director General of the Nigerian Civil Aviation Authority (NCAA), Dr. Harold Demuren has said establishment of a national carrier will amount to a waste of resources. Demuren said such project could...

    • Posted March 5, 2016
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  • Nigeria loses $21bn oil investment, faces stiff competition

    The Nigerian oil and gas industry, which saw a decline of about $21bn in capital investment in 2015, needs to be repositioned to be able to compete globally for shrinking investment occasioned by the sharp drop in...

    • Posted March 4, 2016
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  • Loading of petrol improves at depots – Marketers

    Petroleum products’ marketers said on Wednesday that loading of Premium Motor Spirit (petrol) had improved in some depots in Lagos. However, many filling stations in the state did not operate, while the few ones that were selling...

    • Posted March 4, 2016
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  • Zuma to meet Buhari over MTN fine

    The Minister of Communications, Mr. Adebayo Shittu, on Wednesday said that the Federal Government had concluded plans to meet with the MTN Group to resolve the dispute over the N1.04tn fine imposed on the telecommunications firm, which...

    • Posted March 4, 2016
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  • Power supply drops by 1,647MW

    Power supply in the country has dropped by 1,647.88 megawatts from 4,447.88MW achieved on February 2, thereby worsening the rationing that the electricity distribution companies have been subjecting consumers to in recent days. The Nigerian Electricity Regulatory...

    • Posted March 4, 2016
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  • USAID trains 2 million Nigerian households in new farming methods

    The United States Agency for International Development (USAID) has disclosed that two million Nigerian households are undergoing training on various farming methods in order to increase productivity in farming and moving small-time farmers to commercial level farmers....

    • Posted March 4, 2016
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