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  • Dangote’s oil refinery to process 650,000bpd

    Africa’s richest man and President, Dangote Group, Alhaji Aliko Dangote, has said his oil refinery will process 650,000 barrels of crude oil per day. The completion of the plant, expected to come on stream in 2017, will...

    • Posted March 24, 2015
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  • Customs issues ultimatum on clearance of 2014 consignments

    The Nigeria Customs Service (NCS) has directed importers to clear vehicles and other goods imported into the country between January and December last year within two weeks. Both Tin Can Island and PTML Commands of the Customs...

    • Posted March 24, 2015
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  • FG set to begin disbursement of N220bn MSME Fund

    The federal government has commenced screening of Nigerian youths for entrepreneurship training with the launch at the weekend of the Youths Entrepreneurship Strategy (YES) in Oil and Gas Industry. Part of the N220 billion set aside for...

    • Posted March 24, 2015
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  • Expert faults electricity tariff cut

    The 50 per cent reduction in electricity tariff by the Nigerian Electricity Regulatory Commission is politically wise but makes no business sense, economists and power sector experts have said. According to them, the decision will result in...

    • Posted March 24, 2015
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  • Fidelity Bank set to boost ATM revenue

    Fidelity Bank Plc says it has made fresh investment in its Automated Teller Machine platforms as part of the efforts to improve on its service delivery. The bank said the investment in the upgrade of its ATMs...

    • Posted March 24, 2015
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  • Income tax windfall boosts public finances

    A pick-up in income tax receipts for the second month in a row meant Government borrowing fell by more than expected in February. Official figures from the Office for National Statistics showed that public sector net borrowing...

    • Posted March 24, 2015
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  • Banks to conclude Lekki seaport financing in September

    The financial arrangements for the Lekki Deep Seaport will be concluded in September, the promoter of the project, the Tolaram Group, has said. The Chairman of the group, Mr. Mohan Vaswani, said this in Lagos while receiving...

    • Posted March 24, 2015
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  • NNPC mulls longer term crude sale contracts

    As part of its new business strategies to overcome extant disruptions in the international crude oil market especially with regards to hydro-fracking technology and loss of patronage from the United States, Nigeria could resort to longer term...

    • Posted March 24, 2015
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  • FEC approved N1.43tn contracts in 2014

    The Federal Executive Council in 2014 approved a total of N1.43tn for various contracts in 12 government agencies. The amount is about N900m or 6.72 per cent higher than N1.35tn which the council approved in the 2013...

    • Posted March 23, 2015
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  • Government releases N995m for agric insurance

    The Federal Government has released N995.2m ($5m) to the Nigerian Agricultural Insurance Corporation for the development agricultural insurance in the country. The Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina, disclosed this at the inauguration of...

    • Posted March 23, 2015
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  • MPC: Falling oil prices, inflation, election spending to top agenda

    As the Central Bank of Nigeria (CBN) begins its 243rd Monetary Policy Committee (MPC) meeting tomorrow, some of the issues that will top the agenda include the sinking oil prices, marginal increase in the nation’s inflation figure...

    • Posted March 23, 2015
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  • African mega projects surge 46% to $326billion in 2014

    INVESTMENT in African mega projects surged 46 per cent to US$326 billion last year led by heavy INVESTMENT in transport, energy and power, according to the third annual Deloitte African Construction Trends report, which monitors progress on...

    • Posted March 23, 2015
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  • Nigeria has achieved 100 per cent teledensity – NCC

    The Executive Vice Chairman of the Nigeria Communication Commission (NCC), Dr Eugene Juwah, says that Nigeria has achieved a teledensity of 100 per cent as at January 2015. Juwah, who was represented by the NCC’s Director of...

    • Posted March 22, 2015
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  • Bond yields to rise on election worries

    Nigerian bonds yields could rise next week on a possible sell off by some offshore investors due to uncertainty around the presidential elections on March 28, economic and financial analysts have said. The described the March 28...

    • Posted March 22, 2015
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