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  • Nigerian Stock Market records 3.4% in six months

    The Nigerian Stock Exchange (NSE) All-Share Index, which  measures the aggregate growth of the stock market declined by 3.46 per cent  in the first half of the year as investors maintained cautious trading. The ASI, which opened...

    • Posted July 2, 2015
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  • Oando sells downstream business for $276m

    A consortium of investors on Tuesday announced the acquisition of 60 per cent of the economic rights and 51 per cent of the voting rights in the downstream business of Oando Plc, an integrated oil and gas...

    • Posted July 2, 2015
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  • NNPC says there’s enough petrol

    The Nigerian National Petroleum Corporation (NNPC) Tuesday said it had stepped up efforts to maintain stability in the supply and distribution of petroleum products nationwide. The corporation disclosed in statement that it has enough stock of petrol...

    • Posted July 2, 2015
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  • Atiku’s firm objects to N1.3bn suit

    A firm, Ports and Terminal Operators Nigeria Limited (PTOL), has accused the federal government of breaching a concession agreement they signed on May 11, 2006 over a terminal at Onne Port in Rivers State. It sued the...

    • Posted July 2, 2015
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  • MainOne aims to double $300m investment

    MainOne said on Tuesday it was looking at doubling its current investment of over $300m in infrastructure to improve broadband connectivity and data centre services in West Africa in the next five years. The company stated that...

    • Posted July 2, 2015
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  • Nigeria’s total debt rises to N12.1tn – DMO

    The nation’s total debt rose to N12.1tn ($60.8bn) as of March 2015, up from N11.2tn at the end of December 2014, data obtained from the Debt Management Office’s website showed on Tuesday. The statistics also showed that...

    • Posted July 2, 2015
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  • Fuel queues resurface in Abuja

    Fuel queues have resurfaced in filling stations across the Federal Capital Territory as a number of the stations have stopped dispensing the product. It was not certain as of press time why some of the filling stations...

    • Posted July 2, 2015
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  • Electricity consumers on estimated billing to pay less

    Electricity consumers across the country who are on estimated billing are to pay lesser than their counterparts who have been provided with meters, the Nigerian Electricity Regulatory Commission has said. The Chairman of NERC, Dr. Sam Amadi,...

    • Posted July 2, 2015
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  • NSE targets sale of Apple, LVMH, other foreign shares on local bourse

    Nigerians will soon be able to invest in companies such as Apple Inc, LVMH Moet Hennessy and Louis Vuitton SE in their local currency at their local bourse. Although these global companies are looking to sell shares...

    • Posted July 2, 2015
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  • EU targets improved access to power in Nigeria with €150m

    The European Union (EU) has disclosed its intention to plough about €150 million into Nigeria’s power sector, which it said would improve access to use of electricity across the country through various sources. EU representatives told reporters...

    • Posted July 1, 2015
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  • Stakeholders allege manipulations in PPPRA template

    Oil and gas industry stakeholders that gathered at a Roundtable organised at the weekend in Lagos by NewsDirect Newspaper have alleged that the current template used by the Petroleum Products Pricing Regulatory Agency (PPPRA) to determine the...

    • Posted July 1, 2015
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  • FG to borrow N240bn in third quarter

    The Federal Government is planning to borrow between N180bn and N240bn through the sale of government bonds in the third quarter, the Debt Management Office has said. According to the DMO, the amount will be borrowed through...

    • Posted July 1, 2015
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  • Fear grips oil industry operators over probes

    There is palpable fear in the Nigeria’s oil and gas industry as strong indications emerged that the ongoing probe will not be restricted to Offshore Processing Agreements (OPAs) and crude oil swaps contracts but will cover other...

    • Posted July 1, 2015
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  • NNPC spent N3.8tn in three years without approval

    The National Economic Council (NEC) has revealed that the Nigerian National Petroleum Corporation (NNPC) spent N3.8 trillion in three years without approval. The latest indictment of NNPC, confirmed the forensic audit report by PricewaterhouseCoopers (PwC) and the...

    • Posted July 1, 2015
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