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  • Nigeria’s external reserves fall to $27.840billion

    Nigeria’s external reserves stood at $27.840 billion as at last Thursday. The latest position of the reserves showed that it has depreciated by $251 million this month, compared with the $28.091 billion it was at the beginning...

    • Posted February 18, 2016
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  • Budget: FG’s planned borrowings to increase debt stock to 12.8% of GDP

    The projected net borrowings in the federal government’s 2016 budget proposals will increase the government’s debt stock by a further 1.8 per cent, taking Nigeria’s total debt to 12.8 of gross domestic products (GDP), THISDAY checks have...

    • Posted February 18, 2016
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  • Profit-taking halts six-day gaining streak at Stock Market

    The Nigerian stock market shed 1.26 per cent on Tuesday as profit taking by  some investors halted  its six-day gaining streak. The market has been bullish for the past few days as investors reacted to corporate earnings...

    • Posted February 18, 2016
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  • Kachikwu’s shuttle diplomacy may pay off, Russia, Saudi Arabia agree to freeze oil output

    The push by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, to get major oil producers such as Saudi Arabia and Russia to agree to production cuts in order to shore up oil prices, may...

    • Posted February 18, 2016
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  • FirstBank boss seeks increased financial inclusion

    As part of efforts to drive financial inclusion, the Deputy Managing Director -designate, FirstBank Nigeria Limited, Mr. Gbenga Shobo will be delivering a lecture themed: “Financial Inclusion: Unleashing the Potential in the Informal Sector, at a  session...

    • Posted February 18, 2016
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  • Customs release new guidelines on seized goods disposal

    The Nigeria Customs Service has approved a new procedure for the disposal of seized and overtime goods in its bid to address some of the perceived irregularities relating to the system, including fake online auctions. The NCS...

    • Posted February 18, 2016
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  • Nigeria struggling to find buyers for N159bn oil

    Nigeria’s March crude programme is struggling to find outlets, with some 25 million barrels still unsold even as the April loading programme is expected to start arriving this week, traders have said. Despite this, offers for the...

    • Posted February 18, 2016
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  • Stamp duty: NIPOST to become FAAC member

    Following the implementation of the Stamp Duty Act by banks operating in the country, the Nigerian Postal Service is to be classified as a revenue-generating agency, investigation has shown. By this classification, NIPOST will join the elite...

    • Posted February 18, 2016
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  • Seven Energy secures $100m of additional equity capital

    Seven Energy International Limited (“Seven Energy” or the “Group”), the leading integrated gas company in south east Nigeria, with oil and gas interests in the region, is pleased to announce that it has secured US$100 million of...

    • Posted February 17, 2016
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  • BoI posts N12bn profit in one year

    The Bank of Industry has announced a profit after tax of N12bn for the financial year ended December 31, 2015 and an income of N37bn from the disposal of West African Milk Company’s shares. The bank, which...

    • Posted February 17, 2016
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  • NSE all-share index rises further as bullish trend persists

    The Nigerian stock market continued its positive run on Monday, recording its sixth appreciation in a row. The Nigerian Stock Exchange (NSE) All-Share Index (ASI) rose by 0.6 per cent to close at 24,827.50. Similarly, market capitalisation...

    • Posted February 17, 2016
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  • NNPC in talks with IOCs, banks to finance new drilling, repay debt

    The Nigerian National Petroleum Corporation (NNPC) is in talks with oil majors and banks to raise capital for new drilling and to repay up to $4 billion in debt that the state oil company has accumulated over...

    • Posted February 17, 2016
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  • Electricity tariffs: Court warns NERC against disobeying order

    Justice Mohammed Idris of the Federal High Court in Lagos yesterday warned the Nigerian Electricity Regulatory Commission (NERC) and Distribution Companies (Discos) against disobeying subsisting court orders on electricity tariffs. He said the NERC must not act...

    • Posted February 17, 2016
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  • FG mobilises Military to stop sabotage of oil facilities

    President Muhammadu Buhari monay in Abuja said  the federal government had begun mobilising the military and task forces to stop the sabotage of oil facilities and kidnapping  of citizens for ransom in the coastal areas of the...

    • Posted February 17, 2016
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