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  • Nigeria’s foreign trade drops further to N5.74trn in Q4

    Nigeria’s total external merchandise trade further decreased to N5.74 trillion in the fourth quarter of  2014 compared to N6.29 trillion in the previous quarter, according to the National Bureau of Statistics (NBS). Nevertheless, the country’s overall external...

    • Posted March 12, 2015
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  • Stock Market sustains upward momentum

    The Nigerian equities market remained positive on Tuesday as it closed firmer on the back of renewed optimism. At close of business, the Nigerian STOCK EXCHANGE (NSE) All-Share Index or ASI went up by 0.51 per cent...

    • Posted March 12, 2015
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  • Canadian firm welcomes Nigerian High Court decision on Shell Oil block

    A Canadian firm and member of Crestar Consortium that won the bid for Shell’s Oil Mining Lease (OML) 25, James Bay Resources Limited, has welcomed the decision of a Federal High Court restraining the Nigerian National Petroleum...

    • Posted March 12, 2015
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  • PHCN retirees lament non-payment of pensions

    Retired workers under the National Electric Power Authority and the Power Holding Company of Nigeria have asked the Federal Government to intervene in the alleged non-payment of their pensions. Some of the pensioners who visited The Punch...

    • Posted March 12, 2015
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  • FirstBank partners NAPSS on financial literacy

    As part of efforts to boost financial literacy and empower entrepreneurs in the private sector, FirstBank of Nigeria Limited has partnered the National Association of Proprietors of Private Schools (NAPPS) to provide financial management education for proprietors...

    • Posted March 12, 2015
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  • MultiChoice defends hike in tariff

    MultiChoice Nigeria has defended the latest DStv tariff increase in Nigeria, saying the company has taken into account many factors. Its Public Relations Manager, Ms. Caroline Oghuma, said in a statement in Lagos that such factors included...

    • Posted March 12, 2015
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  • N50bn debt owed by Discos cripples power sector

    The over N50bn debt owed the owners of the National Integrated Power Project plants by 11 electricity distribution companies has become a heavy burden threatening the power supply industry in the country, investigation has shown. Our correspondent...

    • Posted March 12, 2015
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  • Why we discourage states from borrowing – FG

    The Federal Government on Tuesday explained that it was discouraging state governments from borrowing because most of them were experiencing difficulties in servicing their existing debts. The Federal Government had last year directed that Deposit Money Banks...

    • Posted March 12, 2015
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  • Currency fall puts $11bn Eurobonds at risk

    The Chief Executive Officer, Financial Derivatives Company Limited, Mr. Bismarck Rewane, says the continued currency depreciation in Nigeria and sub-Saharan African countries is putting $11bn foreign loan in the region at risk of repayment. He said the...

    • Posted March 12, 2015
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  • NSE index rises by 0.51%

    The equities segment of the Nigerian Stock Exchange witnessed a strong bargain on Tuesday, closing on a positive note for the second day this week. The NSE All-Share Index rose by 159.35 basis points or 0.51 per...

    • Posted March 12, 2015
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  • FX crisis takes toll on food prices

    Despite the marginal recovery in the crude oil price from its January lows, Nigeria has continued to feel the downside impact of a weaker oil-price environment as prices of staples increased significantly in February. Specifically, the price...

    • Posted March 12, 2015
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  • Analysts remain bullish as Market extends gains

    Financial analysts at Afrinvest (West Africa) Limited on Tuesday expressed confidence that the positive sentiments the stock market has witnessed in  recent weeks would be sustained in the days ahead. The stock market appreciated by 0.47 per...

    • Posted March 11, 2015
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  • Devaluation of naira further increases landing cost of petrol

    The recent relief enjoyed in subsidy payment by the federal government as a result of the drop in the international price of crude oil has further been eroded as the recent devaluation of the naira by the...

    • Posted March 11, 2015
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  • External reserves fall by $3bn in four weeks

    The external reserves have started dropping at a faster pace due to low demand for the nation’s crude oil and its falling prices globally. Nigeria derives 70 per cent of its revenue and 90 per cent of...

    • Posted March 11, 2015
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