Latest News

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  NPDC targets 600mmscf/d of gas by end of 2015

  The Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC) targets to raise its gas production from 420 million standard cubic feet per day (mmscf/d) to 600 mmscf/d in the Oil Mining...

  • Posted June 10, 2015
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  Naira faces further pressure as US rate hike looms

  The naira and the Nigerian stock market, which have taken a pinch from the fall in global crude oil prices, are further threatened as the United States looks set to raise its interest rate. The US Federal...

  • Posted June 10, 2015
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  FG targets speedy rural electrification using renewable power sources

  Nigeria is seeking to make speedy inroad in the supply of stable electricity to her rural and semi-urban communities using renewable energy sources such as solar. To this end, the federal government has embarked on a massive...

  • Posted June 10, 2015
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  CBN: NIRSAL guarantees 224 projects for farmers worth N53bn in two years

  The Nigeria Incentive-Based Risk Sharing Agricultural Lending (NIRSAL) of the Central Bank of Nigeria, Tuesday said it had guaranteed 224 projects worth N53 billion with commercial banks for farmers in the country in the last two and...

  • Posted June 10, 2015
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  Domestic transactions in stock market rise by N88.87bn

  Transactions by domestic investors in the equities segment of the Nigerian Stock Exchange rose by 37.55 per cent or N88.87bn in the first four months of this year when compared to the same period of 2014, a...

  • Posted June 10, 2015
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  Lagos oilfield to begin production this year

  With the award of a rig contract to carry out the drilling and completion programme for the Aje shallow-water field offshore Lagos, the first oil production is expected to begin in the state by December this year....

  • Posted June 10, 2015
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  Recover $7.5bn from oil firms – NEITI tells Buhari

  The Nigeria Extractive Industries Transparency Initiative has called on President Muhammadu Buhari to consider the recovery of over $7.5bn (N1.4trn) from oil and gas companies operating in Nigeria as a major priority in his economic policy agenda...

  • Posted June 10, 2015
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  Banks may deny telecoms, electricity debtors credit facilities

  There are indications that individuals and organisations that have enjoyed post-paid services from electricity distribution companies and telecommunication firms may be denied future credit facilities from financial and non-financial institutions. This is because the utility companies have...

  • Posted June 10, 2015
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  BoI to expand operations to Kano, Niger, Gombe

  The Managing Director of Bank of Industry (BoI), Mr. Rasheed Olaoluwa, has said that  in order to get closer to the ‎Micro Small and Medium Enterprises (MSMEs), the bank is planning to expand operations to the Northern...

  • Posted June 10, 2015
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  CBN scam: Court reserves ruling on bail till June 15

  The Federal High Court in Ibadan on Tuesday reserved ruling till June 15 on bail application for 10 bank officials involved in the N8 billion CBN currency scam. The Economic and Financial Crimes Commission (EFCC) had on...

  • Posted June 9, 2015
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  Customers seek end to excessive bank charges

  Customers of commercial banks in the Federal Capital Territory (FCT) have called for an end to excessive charges levied on them by commercial banks. A cross section of the customers, who spoke to the News Agency of...

  • Posted June 9, 2015
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  Unemployment rate rose to 7.5% in Q1 – NBS

  The National Bureau of Statistics on Sunday released the country’s labour statistics report for the first quarter of this year, stating that the unemployment rate had increased from 6.4 per cent at the end of the fourth...

  • Posted June 9, 2015
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  Dangote to expand Ethiopian cement plant

  The President, Dangote Group, Alhaji Aliko Dangote, has said that plans are afoot to double the capacity of the newly opened 2.5 million-metric-tonne per annum cement plant in Ethiopia. Dangote, who stated this at the inauguration of...

  • Posted June 9, 2015
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  JPMorgan may eject Nigeria from Key Bond Index by December

  JPMorgan will eject Nigeria from its Government Bond Index (GBI-EM) by the year-end unless the country restores liquidity to its currency market in a way that will allow foreign investors tracking the benchmark to transact with minimal...

  • Posted June 9, 2015
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