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  • Market sheds 1.4% in two days on profit taking

    The Nigerian equities market has shed 1.41 per cent in the first two trading days of 2017r as some investors lock in profits while others await government’s economic policy direction for year. The market was highly bullish...

    • Posted January 6, 2017
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  • CBN to punish violators of Anchor Borrowers’ Scheme

    The Central Bank of Nigeria (CBN) yesterday issued guidelines for the implementation of its Anchor Borrowers’ Programme (ABP), listing far-reaching sanctions for any violations by all stakeholders. The ABP, a brainchild of the apex bank was launched...

    • Posted January 6, 2017
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  • Nigeria’s Manufacturing Index expands first time in 11 months

    The Manufacturing Purchasing Managers’ Index (PMI) stood at 52 index points in December 2016, indicating expansion in the manufacturing sector during the review period. The index had recorded decline in the preceding 11 months. The report showed...

    • Posted January 6, 2017
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  • NNPC names Oando, Sahara, 37 others winners of 2017 crude term contracts

    The Nigerian National Petroleum Corporation (NNPC) has announced the list of successful bidders for the 2017/2018 crude oil term contracts. The list consists of 39 winners comprising 18 Nigerian companies, 11 international traders, five foreign refineries, three...

    • Posted January 5, 2017
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  • Nigeria exported more lead, zinc ore in 2014 – NEITI

    The Nigeria Extractive Industries Transparency Initiative (NEITI) has said that Nigeria exported more lead and zinc ore in 2014 than any other solid minerals mined and extracted in the country for export. NEITI said this in the...

    • Posted January 4, 2017
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  • SON tasks technical partners on quality imports

    Nigeria’s economic and industrial growth depends on the standard and quality of products in circulation either locally made or imported. Again, it is critical to ensure that imported products meet high quality benchmarks which would in turn...

    • Posted January 4, 2017
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  • Production from Nigeria’s OML 18 excites San Leon

    Africa and Europe-focused San Leon Energy Plc, a partner of the Erotron consortium that acquired Oil Mining Lease (OML) 18 from Shell Petroleum Development Company (SPDC), has stated that production from the Nigerian oilfield has been encouraging....

    • Posted January 4, 2017
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  • Investment Banks disagree on oil price recovery in 2017

    Global investment banks have differed on their forecasts on the recovery of crude oil prices in 2017, a recent survey on the projections of 12 banks has shown. Crude prices dropped from a peak of $115 per...

    • Posted January 4, 2017
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  • Chinese steel manufacturer restates commitment to Nigeria

    The management of HongXing Steel Company, a Chinese steel manufacturing company based in Lagos, has expressed confidence in the ability of the Nigerian economy to overcome its present challenges. Speaking to journalists on the sidelines of the...

    • Posted January 3, 2017
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  • SON drives standardisation to boost investment in LPG cylinder manufacturing

    There is a huge potential for stimulating multi-million dollar investments into Liquefied Petroleum Gas (LPG) cylinder manufacturing in Nigeria using the instruments of standardisation and quality assurance, the Director General of the Standards Organisation of Nigeria (SON),...

    • Posted January 3, 2017
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  • Another negative year as Stock Market sheds 6.2% in 2016

    The Nigerian stock market went down by 6.17 per cent in 2016, making it the third consecutive decline as economic headwinds affected investors’ participation in the market. However, the decline in 2016 is lower that what was...

    • Posted January 3, 2017
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  • FG extends 2016 budget implementation to March 2017

    The Federal Government has extended the execution of the N1.58tn capital component of the 2016 budget to the end of March 2017. The development was confirmed by the Accountant-General of the Federation, Alhaji Ahmed Idris, via a...

    • Posted January 2, 2017
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  • Naira faces further decline on continued dollar scarcity

    The naira is set to witness another round of decline against the dollar in the days ahead as expected increase in dollar flows from Nigerians living abroad coming home for holidays fell short of expectations. The local...

    • Posted January 2, 2017
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  • NNPC says airlines can’t pay for aviation fuel

    The Nigerian National Petroleum Corporation on Thursday said the hardship in the aviation sector was not due to the scarcity of Jet-A1, but was partly because of the inability of the airlines to pay for the product....

    • Posted January 1, 2017
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