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  • FG announces plan for new refineries

    The Group Managing Director, Nigerian National Petroleum Corporation, Dr. Emmanuel Ibe- Kachikwu, on Wednesday said the Federal Government would consider establishing new refineries for optimal performance of the oil sector. Kachikwu stated this while speaking to journalists...

    • Posted September 11, 2015
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  • JPMorgan: Investors lose N311bn in 24 hours

    Investors in the equities segment of the Nigerian Stock Exchange recorded heavy losses as stocks plunged on Wednesday, a day after JP Morgan said it would remove Nigeria from its government bond index. A sell-off in the...

    • Posted September 11, 2015
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  • NNPC opens new oil swap contracts

    The Nigerian National Petroleum Corporation may have set up four new crude oil swap contracts to replace those cancelled last month vital for bringing in about half of the country’s domestic fuel demand, industry sources have said....

    • Posted September 11, 2015
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  • Oil price fall stalls funding of SWF

    The continued fall in the prices of crude oil globally has stalled the Federal Government’s contribution to the country’s sovereign wealth fund. The Managing Director/Chief Executive, Nigeria Sovereign Investment Authority, Mr. Uche Orji, disclosed this to State...

    • Posted September 11, 2015
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  • Discos dump local meter makers for foreign firms

    Some electricity distribution companies have finally dumped the idea of sourcing their meters from indigenous manufacturers, and have resorted to buying from foreign firms like Huawei, ZTE, and others, findings by our correspondent on Tuesday showed. Some...

    • Posted September 11, 2015
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  • Agric Ministry introduces new measures for fertiliser allocation

    Bauchi State Director in the Federal Ministry of Agriculture, Alhaji Mohammed Yusuf, has described as successful the 2013/14 E-Wallet System of fertiliser allocation and distribution in the country. To this end, he said, the Federal Ministry of...

    • Posted September 11, 2015
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  • 50,000 companies to be struck off CAC register

    The Corporate Affairs Commission (CAC) on Wednesday said 50,000 companies would soon be delisted for failing to file their annual returns. The Registrar General of the CAC, Mr. Bello Mahmud, disclosed this in an interview with the...

    • Posted September 11, 2015
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  • LCCI predicts further crash in oil price, heightened fiscal challenges

    The Lagos Chamber of Commerce and Industry (LCCI) has predicted a further crash in crude oil price currently trending at a six-year low of $40 per barrel, noting that prices may crash further when Iran begins to...

    • Posted September 11, 2015
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  • EU denies ban on Nigerian agricultural products

    The European Union Delegation to Nigeria and ECOWAS has refuted reports that the EU has banned the import of agricultural products from Nigeria. It however noted that the import suspension measure, which has been misconstrued, affected only...

    • Posted September 10, 2015
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  • CBN to sanction banks for non-compliance with TSA deadline

    The Central Bank of Nigeria (CBN) on Tuesday warned that commercial banks that fail to comply with the September 15 deadline for compliance with remittance of federal government revenue to the treasury single account (TSA) will face...

    • Posted September 10, 2015
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  • Mixed reactions trail JP Morgan’s threat on Nigerian bonds

    Some financial experts on Wednesday in Lagos expressed mixed reactions on JP Morgan ‘ s decision to phase out Nigeria from its Government Bond Index for Emerging Markets (GBI-EM) by the end of September. They expressed their...

    • Posted September 10, 2015
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  • NSE index extends gains as 36 stocks rise

    The Nigeria Stock Exchange All-Share Index rose for a third straight day on Tuesday as equities closed higher. Specifically, the NSE ASI rose by 1.01 per cent or 306.67 basis points to close at 30,358.87 basis points....

    • Posted September 10, 2015
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  • FRC wants Buhari to set borrowing limits for all tiers of government

    Notwithstanding the sustainability of the country’s current public debt to Gross Domestic Product (GDP) ratio, the acting Chairman of the Fiscal Responsibility Commission (FRC), Mr. Victor Muruako, on Tuesday called on President Muhammadu Buhari to set borrowing...

    • Posted September 10, 2015
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  • FG will help SMEs to access funds – Osinbajo

    The federal government will help operators of Small and Medium Scale Enterprises (SMEs) access needed funds, the Vice President, Professor Yemi Osinbajo, SAN has said. A statement by the Senior Special Assistant to the Vice-President on Media...

    • Posted September 10, 2015
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