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  • Fitch reviews Nigeria’s 2015 economic growth to 5.2%

    Global rating agency, Fitch Ratings, has reviewed downward Nigeria’s 2015 economic growth forecast from 6.4 per cent to 5.2 per cent, following the continued fall in the global oil prices. “Growth in Nigeria, sub-Saharan Africa’s largest economy,...

    • Posted December 19, 2014
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  • Jonathan canvasses speedy diversification of economy

    Following the recent decline in the price of crude oil, President Goodluck Jonathan on Tuesday said it had become imperative to rapidly diversify the nation’s economy away from dependency on crude oil, and focus more on agriculture....

    • Posted December 18, 2014
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  • Stock Market hits new low as bears sustain

    The bench market index of the Nigerian Stock Exchange (NSE) fell below 30,000 threshold points yesterday as the index declined 2.30 per cent   to close at 29,789.59 from 30,492.30 attained on Monday. In the same vein, the...

    • Posted December 18, 2014
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  • Strike: FG to meet oil workers Thursday

    Tuesday’s meeting between the leadership of the Petroleum and Natural Gas Senior Staff Association of Nigeria, the Nigeria Union of Petroleum and Natural Gas Workers, and the Federal Government to resolve the strike by the workers failed...

    • Posted December 18, 2014
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  • Cost of fund rises to record high on huge cash withdrawal

    The overnight lending rate at the interbank market rose sharply further by 20 per cent yesterday to 80 per cent following drop in liquidity on large naira cash withdrawal by the Nigerian National Petroleum Corporation (NNPC), dealers...

    • Posted December 18, 2014
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  • Alison-Madueke emerges president of Gas Exporting Countries Forum

    A few weeks after the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, emerged the first female President of the Organisation of Petroleum Exporting Countries (OPEC), she was Tuesday appointed the President of the Ministerial Meeting of the...

    • Posted December 18, 2014
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  • Oil slump: Govt revenue drops by N36.6bn

    The continuous fall in oil revenue is taking a toll on the nation’s economy as the gross revenue for the federation for November declined by N36.6bn to N500.07bn from N536.69bn in the month of October. The figures...

    • Posted December 18, 2014
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  • Obasanjo commends ANAN over IFA membership

    A former President, Chief Olusegun Obasanjo, has commended the Association of National Accountants of Nigeria for attaining the full membership of the International Federation of Accountants. Obasanjo made the remarks while receiving the President of ANAN, Alhaji...

    • Posted December 18, 2014
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  • Skye Bank, MoneyGram launch outbound money transfer service

    Skye Bank Plc says it has collaborated with MoneyGram to launch outbound funds remittance service in Nigeria. According to a statement by the lender, the partnership is significant to both companies, as it enables customers to send...

    • Posted December 18, 2014
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  • NCP set to meet on NITEL sale

    The National Council on Privatisation chaired by Vice President Namadi Sambo will meet early next week to approve the outcome of the financial bid opening of the Nigeria Telecommunications Limited. Investigation by our correspondent showed that the...

    • Posted December 18, 2014
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  • Kwara sets up agency to access CBN’s MSME fund

    The Kwara State government has established micro-small and medium enterprises agency that would access N2 billion out of the N220 billion Central Bank of Nigeria(CBN’s) micro,  small and medium enterprises funds (MSME) development fund meant for the...

    • Posted December 18, 2014
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  • Dangote to invest additional $2bn in Refinery-Petrochemical Complex

    Aliko Dangote, Africa’s richest businessman, is increasing the size of his investment in an oil refinery, petrochemical and fertilizer plant by more than a fifth to $11 billion despite a looming slowdown in Africa’s biggest economy, reported...

    • Posted December 17, 2014
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  • Mansard moves to acquire Penman Pensions Limited

    Mansard Insurance Plc is to acquire 60 per cent of Penman Pensions Limited, a pension fund administrator. In a notification to the Nigerian Stock Exchange (NSE), Mansard said it intended to acquire the PFA and operate it...

    • Posted December 17, 2014
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  • West African leaders inaugurate common external tariff

    The Heads of State of West African countries on Monday in Abuja inaugurated the Common External Tariff of the Economic Community of West African States, which comes into force on January 1, 2015. By this, same duties...

    • Posted December 17, 2014
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