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  • Telecoms sector adds N1.4tn to GDP in Q3

    The Nigerian Communications Commission (NCC) yesterday said the telecommunications sector, contributed N1.398 trillion, or 1.11 per cent in the real terms to the Gross Domestic Product (GDP) in the third quarter of 2016. In a statement signed by NCC’s Director...

    • Posted November 29, 2016
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  • FG told to introduce routine maintenance for Lagos-Ibadan road

    The House of Representatives Committee on Works has said that the Lagos-Ibadan Expressway should be given routine maintenance after its rehabilitation in order to avoid it reconstruction in a few years to come. The Chairman of the...

    • Posted November 29, 2016
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  • Recession: Nigeria’s biggest pipe factory may be shut

    After several months of staying idle, the country’s biggest pipe factory owned by SCC Nigeria Limited may be shut down soon as it grapples with lack of patronage amid the recession rocking the country. The company had...

    • Posted November 29, 2016
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  • NNPC rehabilitates gas pipeline supplying northern industries

    The Nigerian National Petroleum Corporation on Sunday said it would complete the Ajaokuta-Abuja-Kaduna-Kano gas pipeline in order to drive energy supply projects needed to power industries in the northern part of the country, particularly those in Kaduna....

    • Posted November 29, 2016
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  • Refineries get N162bn crude oil in eight months

    Three of the four refineries in Nigeria have continued to receive high volumes of crude oil valued at billions of naira every month since the beginning of this year, despite their abysmal performance either individually or collectively....

    • Posted November 28, 2016
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  • Oil price may fall to $44 – Kachikwu

    The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said crude oil price may fall to $44 per barrel if the Organisation of Petroleum Exporting Countries fails to reach a consensus this week. The Federal...

    • Posted November 28, 2016
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  • FG gets states’ input into economic recovery plan

    Top officials of the Federal Government on Thursday met with the Commissioners of Budget and Economic Development and Permanent Secretaries of related departments in states of the federation to get their inputs into the National Economic Recovery...

    • Posted November 26, 2016
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  • Forte Oil, MRS, 222 others bid for crude lifting contracts

    Forte Oil, MRS Oil, British Petroleum Oil International, Glencore Energy Services Limited and 220 other foreign and local oil companies on Thursday in Abuja submitted bids for the sale and purchase of Nigeria’s crude oil grades. This...

    • Posted November 26, 2016
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  • FG defies court as banks continue stamp duty collection

    The Federal Government and its agencies have continued to defy the ruling of the Court of Appeal that the deduction of stamp duty on bank deposits is illegal. Investigation by our correspondent showed that the Technical Committee...

    • Posted November 26, 2016
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  • Black market currency dealers go undergound

    On the teeming streets of Lagos, the Nigerian mega-city of 15 million people, the once omnipresent money-changers are going underground. They’ve become the latest target of authorities desperate to bolster the naira and crush a black market...

    • Posted November 26, 2016
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  • Recession: FG plans tax relief for manufacturers

    The Federal Government, in a bid to ease the burden of the current economic recession on the manufacturing sector, is planning some form of tax relief for the sector. The Minister of Finance, Mrs. Kemi Adeosun, dropped...

    • Posted November 25, 2016
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  • Cargo examination: Regulators, operators blame corrupt importers

    Regulatory agents and terminal operators have blamed corrupt practices by importers for their presence and high level of physical examination of cargo at the nation’s seaports. Multiple agencies and physical cargo examinations waste time and are reportedly...

    • Posted November 25, 2016
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  • Senate condemns 2017 draft budget, says assumptions unrealistic

    The 2017-2019 Medium Term Expenditure Framework and Fiscal Strategy Paper sent to the National Assembly by President Muhammadu Buhari for legislative approval narrowly escaped being rejected again at the Senate on Wednesday. The upper chamber of the...

    • Posted November 25, 2016
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  • NSE ends eight-day loss, 19 stocks gain

    Trading on the floor of the Nigerian Stock Exchange ended on a positive note on Wednesday as 19 stocks recorded gains with market capitalisation appreciating by N20bn. The NSE All-Share Index snapped its eight-day losing streak as...

    • Posted November 25, 2016
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