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  • World Bank intervention in Nigeria’s agriculture hits $1.5bn

    The World Bank says the worth of its running projects in the Agriculture sector in Nigeria is 1.5 billion dollars. The Senior Chief Agric. Economist of the organisation, Dr Adetunji Oredipe, made this known to newsmen at...

    • Posted October 19, 2016
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  • NSE index falls 0.8% as bears dominate trading

    The Nigerian Equities Market began the week on a bearish as the Nigerian Stock Exchange (NSE) All-Share Index declined by 0.81 per cent to close at 27,634.99, while market capitalisation ended at N9.492 trillion. Bears dominated the...

    • Posted October 19, 2016
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  • Dollar scarcity: Banks suspend ATM card usage abroad

    Deposit Money Banks have begun suspending their Automated Teller Machine cards (debit and credit) from working overseas as dollar scarcity continues to hit the economy badly. Stanbic IBTC Bank, Standard Chartered Bank Nigeria and Guaranty Trust Bank...

    • Posted October 18, 2016
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  • Naira to continue gain on dollar supply to BDCs

    The naira is expected to appreciate further this week following the Central Bank of Nigeria’s approval of dollar sale to Bureau De Change operators. The CBN has given approvals to First Bank of Nigeria Limited and Travelex,...

    • Posted October 18, 2016
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  • SMEDAN, NICON sign MOU on insurance cover for SMEs

    The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has signed a memorandum of understanding (MoU) with NICON Insurance Limited as part of efforts to reinforce the agenda of diversification of the economy through the empowerment...

    • Posted October 18, 2016
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  • Third-quarter results to shape market trend – Analysts

    Financial analysts have said that the release of the third quarter results will determine the outcome of the stock market trading sessions this week. The analysts, said the capital market was likely to experience increased trading activities...

    • Posted October 18, 2016
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  • Dangote buys gas firm in the Netherlands

    As part of its strategy to meet Nigeria’s gas requirements, Dangote Industries Limited (DIL) has recently completed the acquisition of Twister B.V., a company headquartered in the Netherlands. Twister B.V. delivers reliable, high-yield and robust solutions in...

    • Posted October 17, 2016
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  • Direct crude sale saves Nigeria N102.6bn

    By putting an end to the crude-for-products exchange arrangement, popularly known as crude swap, Nigeria was able to save N102.6bn between April and July this year. In February, the Minister of State for Petroleum Resources, Dr. Ibe...

    • Posted October 17, 2016
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  • Releasing funds to contractors will end recession — Fashola

    The Federal Government has said it is investing massively in road construction, public housing and other infrastructure as part of measures to take the country out of recession. It said it had released funds for the payment...

    • Posted October 17, 2016
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  • External reserves hit 11-year low of $24.21bn

    The country’s external reserves have hit an 11-year low of $24.21bn, according to the latest data from the Central Bank of Nigeria. The development means a limited amount of dollars will be available at the official interbank...

    • Posted October 17, 2016
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  • NNPC increases crude exploration in Gongola, others

    The Nigerian National Petroleum Corporation has embarked on a more rigorous exploration of the Gongola and other frontier inland basins as part of efforts to shore up the oil and gas reserve base across the country. The...

    • Posted October 16, 2016
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  • Inflation rate rises to 17.9% – NBS

    In September, the Consumer Price Index, which measures inflation across the country, increased by 17.9 per cent year-on-year, up from the 17.6 per cent recorded the previous month. According to the National Bureau of Statistics, energy and...

    • Posted October 16, 2016
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  • CBN approves special forex sale for airlines, others

    The Central Bank of Nigeria has approved a special secondary market intervention retail sales of foreign exchange for airlines operating in the country. According to a statement from the aviation arm of the Federal Ministry of Transportation...

    • Posted October 16, 2016
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  • Oando, Forte Oil, 25 others get crude lifting contracts

    The Nigerian National Petroleum Corporation has increased the number of companies referred to as off-takers of the country’s crude oil from 21 to 27. Last December, the corporation announced the award of its 2016 crude oil term...

    • Posted October 15, 2016
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