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  • NNPC gets 30% discount on contracts after renegotiations

    The Nigerian National Petroleum Corporation on Sunday said it realised between five per cent and 30 per cent discounts on existing contracts after several renegotiations. According to the corporation, this arrangement has led to substantial savings for...

    • Posted December 27, 2016
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  • Nigeria loses N115bn to crude terminal shutdown

    With global oil prices trading above the $50 per barrel mark since November 30, the shutdown of the Forcados terminal, through which the nation’s largest crude oil grade is exported, has led to a loss of at...

    • Posted December 26, 2016
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  • CBN sells N40bn treasury bills

    The Central Bank of Nigeria said it had raised N39.72bn ($130.57m) at a Treasury bill sale, with yields unchanged on the previous auction. The central bank sold N13.17bn of three-month paper at 14 per cent, the same...

    • Posted December 26, 2016
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  • 1.7 million Nigerians became jobless in nine months — NBS

    The harsh economic situation in the country has thrown 1.7 million Nigerians into the job market in nine months, a report from the National Bureau of Statistics has indicated. The unemployment report, which was obtained by SUNDAY...

    • Posted December 26, 2016
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  • FG trains 400 graduates in agribusiness

    Over 400 unemployed graduates are currently undergoing training in various fields of agricultural business in a bid to reduce the rate of unemployment in the country. The training programme was organised by the Federal Government, through the...

    • Posted December 26, 2016
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  • NACC seeks cordial business relations between Nigeria, US

    The President and Chairman, Board of Directors, Nigerian American Chamber of Commerce, Chief Olabintan Famutimi, has reiterated the association’s commitment towards promoting cordial business relationship between Nigeria and the United States. According to Famutimi, cordial business relations...

    • Posted December 25, 2016
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  • Interbank rate jumps to 50% on CBN forex sales

    The overnight lending rate rose sharply to around 50 per cent on Friday, from an average of 4.5 per cent on Thursday, after the Central Bank of Nigeria debited commercial banks’ accounts for special foreign exchange sales....

    • Posted December 25, 2016
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  • Forex scarcity: Naira may hit N500/dollar next week

    The naira is seen depreciating further and may hit the 500 mark to the United States dollar at the parallel market next week as the greenback scarcity persists and the Central Bank of Nigeria cuts supply to...

    • Posted December 25, 2016
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  • Capital market achieves 100% electronic share certification

    The Nigerian capital market has finally achieved full dematerialisation of share certificates, 10 years after the move was initiated. Dematerialisation is the conversion of physical share certificates of investors in the capital market to electronic forms to...

    • Posted December 24, 2016
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  • NACCIMA worries over increased recurrent expenditure

    The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture has expressed worry over the significant rise in the recurrent expenditure in the proposed 2017 budget, which was recently presented to the National Assembly by President...

    • Posted December 24, 2016
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  • N6bn power transmission projects stall amid funding challenge

    Power transmission projects worth about N6bn have remained stalled in the past few years due to lack of government funding, even as the nation seeks to achieve incremental power supply. The nation’s power generation and distribution companies...

    • Posted December 23, 2016
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  • Recession: Investment inflow into Nigeria shrinks by $4.5bn

    The level of investment inflow into the country recorded a huge decline of $4.51bn from the $8.08bn in the first nine months of 2015 to $3.57bn in the same period of 2016, an analysis of the capital...

    • Posted December 23, 2016
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  • $30bn loan rejection won’t affect 2017 budget – Presidency

    The Presidency on Wednesday said the rejection of the proposed $29.96bn external borrowing plan of President Muhammadu Buhari-led administration by the Senate would not affect the implementation of the 2017 budget. The Special Assistant to the President...

    • Posted December 23, 2016
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  • Our ports are ready for full utilisation – NPA

    Nigeria’s main ports, Apapa Port and Tin Can Island Port as well as other four ports (Onne, Rivers, Warri, Calabar) are to set to witness full capacity utilisation, the Nigerian Ports Authority has said. This is coming...

    • Posted December 23, 2016
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