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  • Nigeria faces further revenue slump as Iran returns to oil market

    Nigeria’s dwindling oil revenue is expected to fall further as Iran is set to commence immediate exports of at least 500,00 barrels of crude oil per day (bpd) following the lifting of international sanctions against the country...

    • Posted January 19, 2016
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  • New owners inject $1bn in NITEL to revive telecoms firm

    About $1 billion has already been expended on the revival of Nigerian Telecommunication Limited (NITEL) and its sister company, Mobile Telecommunication Limited (Mtel), which were recently acquired by NATCOM Development and Investment Limited from the Nigeria Telecommunications...

    • Posted January 19, 2016
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  • Nigeria’s oil fields face shutdown amid price slump

    With crude oil trading around $30 per barrel in the international market from a peak of $114 in June 2014, production from Nigeria now faces a decline as some fields face an imminent shutdown if the low...

    • Posted January 19, 2016
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  • NDIC unveils protection measure for mobile money subscribers

    The Nigeria Deposit Insurance Corporation has released deposit insurance guidelines on the mobile payment system, known as ‘Pass-Through Deposit Insurance scheme’. The NDIC said the move followed the introduction of mobile banking in Nigeria by the Central...

    • Posted January 19, 2016
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  • Abuja-Kaduna train begins operation in March

    Nigeria’s first high speed train moving from Abuja to Kaduna will commence operation in March this year, the Managing Director, Nigerian Railway Corporation, Mr. Adeseyi Sijuwade, has said. Already, he said the corporation would take delivery of...

    • Posted January 19, 2016
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  • FG slashes Lagos-Ibadan Expressway budget to N50bn

    The Federal Government has cut its budget for the Lagos-Ibadan Expressway from N66bn to N50bn in the 2016 Appropriation Bill, representing a drop of 24 per cent. Currently undergoing reconstruction, the two contractors handling the project, Julius...

    • Posted January 18, 2016
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  • SMEDAN begins delivery of empowerment programme nationwide

    The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has commenced the delivery of the 2015/2016 Zonal Intervention programmes of the National Assembly domiciled in the agency to various senatorial districts and federal constituencies across the...

    • Posted January 18, 2016
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  • FG appeals to private sector against mass job cuts

    The federal government on Saturday solicited the understanding of Nigeria’s organised private sector against massive workers’ lay off at the moment, stating that the country’s economy is rather unstable and unable to take the likely shock from...

    • Posted January 18, 2016
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  • IPMAN refutes report on purported nationwide strike

    The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Saturday debunked an alleged report that some of its members had threatened to embark on a nation-wide strike. The rebuttal was contained in a statement issued by the...

    • Posted January 18, 2016
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  • Current massive sell-off beyond market makers’ capacity – Onyema

    Amidst the collapse of sentiment for equities resulting in a sustained bearish trading on the floor of the Nigerian Stock Exchange (NSE) in the first two weeks of the year, the management of the exchange has exonerated...

    • Posted January 17, 2016
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  • Poor telecoms service: NCC to partner ITU for improved quality, standardisation

    The Executive Vice Chairman, Nigerian Communications Commission (NCC) Mr. Umar Danbatta, on Friday said the commission had concluded partnership deal with the International Telecommunication Union (ITU), through the African Telecommunication Union (ATU), aimed at improving the poor...

    • Posted January 17, 2016
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  • Adokwe cautions FG against following IMF’s directives

    Senator Suleiman Adokwe representing Nasarawa South Senatorial district in the Senate, has called on the federal government to be wary of the guidelines and directives given to it on the nation’s economy by Chief Executive, International Monetary...

    • Posted January 17, 2016
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  • NSE capitalisation drops by N297bn

    Trading on Thursday on the floor of the Nigerian Stock Exchange ended on a negative note with losses in the shares of Seplat Petroleum Development Company Limited, Oando Plc, Guaranty Trust Bank Plc, FBN Holdings Plc and...

    • Posted January 16, 2016
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  • AfDB invests $12.5m in women-owned SMEs

    The Africa Development Bank said it had approved the sum of $12.5m equity investment in Alitheia Identity Fund to invest in Small and Medium Enterprises being driven by women. AIF is a private equity fund managed by...

    • Posted January 16, 2016
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