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  • Kerosene: Dubious sales outlets risk closure – DPR

    Filling stations selling kerosene above the N50 per litre official price as well as those adjusting their pumps in a bid to defraud customers risk a 90-day closure if caught, the Department of Petroleum Resources has said....

    • Posted October 2, 2015
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  • BoI secures CBN license, repositions for service

    Having met the requirements set by the apex bank for all existing Development Finance Institutions (DFIs) in the country, the Bank of Industry (BoI) has secured Central Bank of Nigeria’s (CBN) license. A statement from BoI explained...

    • Posted October 1, 2015
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  • Nigeria, other commodity exporters facing difficulty – IMF

    With a weak outlook for commodity prices, particularly for energy and metals, growth in Nigeria and other commodity-exporting emerging and developing economies could slow further over the next few years, a new study has stated. The study,...

    • Posted October 1, 2015
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  • Buyers stop loading Nigerian crude

    The measures introduced by the Federal Government to monitor crude transit and check oil theft are said to be threatening income lifeline, compounding the damage the crude price fall has done to Nigeria’s finances, access to dollars...

    • Posted October 1, 2015
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  • UNIDO to spend $2.6bn on small hydro power projects in Nigeria

    In line with its mandate to promote, and accelerate inclusive and sustainable industrial development in developing countries, the United Nations Industrial Develop (UNIDO) has budgeted the sum of $2.6 billion for the development of Small Hydro Power...

    • Posted October 1, 2015
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  • Konga to boost logistics business with mercury software

    Konga.com, Nigeria’s online mall, has announced the launch of Mercury, a software-as-a-service (SaaS) logistics management system that will enable logistics, courier companies and their customers to track the exact location and status of their orders online. Chief...

    • Posted October 1, 2015
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  • Nigeria, others’ Eurobonds hit new lows

    Prices for Eurobonds from Nigeria and many commodity-exporting emerging markets have fallen sharply this week on fears that the latest metals price reversal will hit the ability to repay debt, especially in some African countries. According to...

    • Posted October 1, 2015
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  • Recapitalisation: Over 60 market operators may lose licences

    As the deadline set by the Securities and Exchange Commission for capital market operators in the country expires on Wednesday (today), it is expected that more than 60 operators will lose their operating licences. As of Tuesday,...

    • Posted October 1, 2015
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  • Approve Lagos’ N39.4bn World Bank loan – Buhari writes Senate

    President Muhammadu Buhari on Tuesday sought the approval of the Senate for a $200m (N39.4bn) World Bank loan for Lagos State. Buhari, in a letter addressed to the Senate President, Bukola Saraki, and read on the floor...

    • Posted October 1, 2015
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  • We will ensure banking system stability – NDIC

    The Nigerian Deposit Insurance Corporation on Monday said it had put in place an effective risk-based supervision framework to enable it protect depositors against unethical practices and other infractions in the banking sector. It also said that...

    • Posted October 1, 2015
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  • MAN, stakeholders seek N50bn intervention fund for steel industry

    Stakeholders in the manufacturing sector have called on the federal government to urgently intervene in the steel sector to avert its imminent collapse. Chief Executive Officer of African Industries Group, Sanjay Kumar made the appeal on behalf...

    • Posted October 1, 2015
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  • FG woos Chinese investors on agric, infrastructure development

    The Federal Ministry of Agriculture and Rural Development has called on Chinese investors to take advantage of the investment opportunities in Nigeria’s agricultural sector, stating the ministry’s readiness to partner the Chinese government. Permanent Secretary FMARD, Sonny...

    • Posted September 30, 2015
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  • Poor electricity distribution infrastructure threatens NERC’s 6,000MW target

    Poor electricity distribution facilities across the country may jeopardise plan by the Nigerian Electricity Regulatory Commission (NERC) to see on-grid electricity generation hit 6, 000 megawatts by the end of 2015, the regulatory agency has revealed. NERC...

    • Posted September 30, 2015
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  • Dangote bags Clinton’s business leadership award

    The President, Dangote Group, Alhaji Aliko Dangote, has been honoured with the 2015 Clinton Global Citizen Award for leadership in the private sector for his contributions to the development of the African society and the world at...

    • Posted September 30, 2015
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