Don't Miss


Latest News

  • Domestic debt servicing gulped N2.95tn in five years

    The Federal Government spent a total of N2.95tn to service domestic debts for a period of five years from 2010 to 2014, investigation has shown. Statistics obtained from the Debt Management Office in Abuja on Thursday showed...

    • Posted January 23, 2016
    • 0
  • Market gains N121bn despite losses by 14 firms

    The value of equities in the Nigerian Stock Exchange appreciated by N121bn on Thursday in a second-day gain after straight losses for 10 days. This feat was realised despite the fall in the share prices of 14...

    • Posted January 23, 2016
    • 0
  • Fuel subsidy removal will save government N985bn – Osinbajo

    Vice President Yemi Osinbajo has said the Federal Government, which relies on crude oil for about two-thirds of its revenue, is seeing a silver lining to the plunge in crude prices because it will no longer have...

    • Posted January 23, 2016
    • 0
  • FG sells N195bn treasury bills at higher rate

    The country sold N195.95bn ($975m) in Treasury bills with maturities from three months to one year in its second auction of the year on Wednesday, at higher yields than previously, the Central Bank of Nigeria said on...

    • Posted January 23, 2016
    • 0
  • Oil firm to sack 700 workers

    The Shoreline Group, a Nigerian oil producer, has halted plans to issue $500m worth of Eurobonds and will sack 700 of its employees amid the sustained drop in global oil prices, the Chief Executive Officer of the...

    • Posted January 23, 2016
    • 0
  • Stock market rebounds after 10-day loss

    Trading on the floor of the Nigerian Stock Exchange on Wednesday closed on a positive note after recording losses for 10 straight days. Shares appreciation in 39 companies pushed up the NSE market capitalisation to N8.025tn from...

    • Posted January 22, 2016
    • 1
  • Senate demands NNPC, DPR, others’ audited accounts

    The Senate Committee on Gas Resources on Wednesday directed the Nigerian National Petroleum Corporation and its subsidiaries to submit to it their detailed audited accounts for the past three years. Apart from the NNPC, other agencies affected...

    • Posted January 22, 2016
    • 1
  • Trafigura, Duke lifted $24bn crude without contracts – PPMC

    Investigation into the crude exchange deals of the Nigerian National Petroleum Corporation has revealed that two trading firms, Trafigura and Duke Oil, lifted $24bn worth of crude oil out of the country before formal contracts were signed....

    • Posted January 22, 2016
    • 1
  • N470m lost daily to gas pipeline attacks – FG

    Last weekend’s attack on the Nigeria Gas Company’s pipeline connected to Chevron Nigeria Limited’s facility at Escravos in Delta State is costing the economy a daily loss of N470m and has also resulted in the shutdown of...

    • Posted January 22, 2016
    • 1
  • FCMB anticipates lower profit for third quarter of 2015

    FCMB Group Plc on Monday sent a profit warning to the stock market community, saying earnings and profitability for the third quarter ended September 30, 2015 will be lower than the figures of same period in corresponding...

    • Posted January 21, 2016
    • 1
  • DMO to raise $1.75bn from bond market in first quarter

    The Debt Management Office (DMO) is to raise between N260 billion ($1.30 billion) and N350 billion ($1.75 billion) from primary issue in the first quarter of 2016, according to its provisional issuance calendar for Q1 2016. It...

    • Posted January 21, 2016
    • 1
  • Stocks decline: FG may summon stakeholders meeting

    There is a strong indication that the federal government may summon a meeting of capital market stakeholders over the consistent decline in the stock market. A combination of factors, such as political risk, currency volatility, and uncertainty...

    • Posted January 21, 2016
    • 1
  • CBN unveils N300bn fund for non-oil exporters

    The Central Bank of Nigeria on Tuesday unveiled a N300bn special intervention fund to boost non-oil exports in the country. The announcement was contained in a communique issued at the end of a non-oil export conference conveyed...

    • Posted January 21, 2016
    • 0
  • Nigeria loses N571bn annually to tax waivers – Report

    About $2.9bn (N571bn) is being lost annually by the Federal Government to tax incentives given to some companies operating in the oil and gas sector under the Nigerian Liquefied Natural Gas consortium. The figure was released by...

    • Posted January 21, 2016
    • 0