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  • Steel industry operating at 30% capacity –MAN

    Many steel plants in the country are currently operating below 30 per cent of their production capacity, the Manufacturers Association of Nigeria has said. MAN’s Director-General, Mr. Remi Ogunmefun, at a stakeholders meeting conveyed by steel manufacturing...

    • Posted October 4, 2015
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  • PHED blames technical challenges for blackout in Rivers, others

    The Port Harcourt Electricity Distribution Company has explained the reason for the recent power outage experienced by its customers in Rivers, Bayelsa and Cross Rivers states. The PHED said on Friday that the blackout in Bayelsa, Cross...

    • Posted October 4, 2015
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  • Investors gain N232bn in three days

    Investors in the equities segment of the Nigerian Stock Exchange saw the value of their stocks rise by N232bn in the first three days of this week as increased activities towards the end of the month boosted...

    • Posted October 3, 2015
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  • Weak institutions, bane of Nigerian economy – Utomi

    A professor of political economy and management expert, Pat Utomi, on Thursday said weak institutions had been a drag on the nation’s economic progress, stressing the need to get down to diversifying the base of the economy....

    • Posted October 3, 2015
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  • Stakeholders want standardisation of Nigerian products

    Stakeholders from the organised private sector have called for the standardisation of made-in-Nigeria products in order to make them acceptable outside the country. The stakeholders made the call at a seminar organised by the Nigerian Association of...

    • Posted October 3, 2015
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  • CPC warns farmers against pesticide mishandling

    The Consumer Protection Council has advised farmers and users of pesticides and other agro-allied chemicals against improper handling because of the grave health implications. The Director-General, CPC, Mrs. Dupe Atoki, who gave the advice in an address...

    • Posted October 3, 2015
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  • LCCI to host SMEs at trade fair

    The Lagos Chamber of Commerce and Industry has finalised arrangement to host the 29th edition of the Lagos International Trade Fair. The Chamber has also announced that as part of the fair, it would host a Micro,...

    • Posted October 3, 2015
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  • Discos free to remove fixed charges – NERC

    The Chairman, Nigerian Electricity Regulatory Commission, Dr. Sam Amadi, says power distribution companies in the country are free to abolish fixed electricity charges if they so desire. He said NERC, as the power sector regulator, would not...

    • Posted October 2, 2015
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  • Buyers of pre-registered SIM cards face jail term

    The Nigerian Communications Commission on Wednesday warned telecommunication subscribers against buying preregistered Subscriber Identification Module cards. The Acting Executive Vice Chairman, NCC, Prof. Umaru Danbatta, who spoke at the ongoing Abuja International Trade Fair, said selling, buying...

    • Posted October 2, 2015
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  • Shell stops crude export from Forcados

    The Shell Petroleum Development Company of Nigeria Limited operated Joint Venture has declared force majeure on exports from the Forcados Terminal effective 15:00hrs on Wednesday (following a leak on the Trans Forcados Pipeline. The TFP is operated...

    • Posted October 2, 2015
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  • CBN concerned about growth as nation awaits cabinet

    The Central Bank of Nigeria (CBN) will retain foreign currency controls because of concerns about slowing growth, a senior bank official said on Wednesday as the nation awaited a new cabinet. President Muhammadu Buhari submitted the list...

    • Posted October 2, 2015
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  • Nigeria’s Forex reserves fall by $1bn

    Nigeria’s foreign exchange reserves fell 3.14 per cent to $30.48 billion by September 23 from $31.47 billion a month ago, data published by Central Bank of Nigeria showed on Wednesday.cbn The reserves were down 23.03 per cent...

    • Posted October 2, 2015
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  • Claims settlement: Insurers face sanctions as September 30 deadline elapses

    The National Insurance Commission (NAICOM) may soon reel out sanctions against insurance operators who failed to comply with the directive to settle all claims in their books by 5pm on Wednesday. A source told THISDAY last night...

    • Posted October 2, 2015
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  • NDIC develops deposit insurance for non-interest banking

    The Nigeria Deposit Insurance Corporation on Wednesday said it had developed a non-interest deposit insurance framework for that segment of the banking sector. It said the framework was designed to create a level playing field and provide...

    • Posted October 2, 2015
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