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  • World Bank approves $200m loan for Lagos

    The Board of the World Bank has approved a loan of $200m for Lagos State. A statement issued by the bank in Abuja on Thursday said the $200m was to support reforms pertaining to fiscal sustainability, budget...

    • Posted March 29, 2014
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  • Aviation experts jittery over Cat-1 status retention

    Experts in the Nigerian aviation sector have raised fears that the country may likely not retain the Category One status. The experts said recent occurrences as well as the many uncompleted projects in the sector might count...

    • Posted March 29, 2014
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  • Poor services: Telecoms operators panic over fresh fines

    Mobile telecommunications operators, especially those recently fined by the Nigerian Communications Commission, are apprehensive that the regulator may impose additional fines on them due to the persistent poor quality of services they are offering. The apprehension, our...

    • Posted March 29, 2014
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  • Bauchi to Set up N190m Organic Fertiliser Plant

    The Bauchi State Government said it would set up a N190 million neem based organic fertiliser plant with the capacity to produce 3,600 tonnes of fertiliser annually. The Commissioner for Science and Technology, Alhaji Bala Abdullahi, who...

    • Posted March 29, 2014
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  • NCAA may go bankrupt over poor service charge payments from airlines

    There are indications that the Nigerian Civil Aviation Authority (NCAA) may become financially insolvent because of the failure of airlines to pay their Passenger Service Charge (PSC) and the tendency for the operators to allegedly shortchange the...

    • Posted March 29, 2014
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  • Taleveras clarifies crude oil swaps with NNPC

    Taleveras Group yesterday refuted claims by the Nigeria Extractive Industries  Transparency Initiative (NEITI) in its audit report that it under delivered 152,308,878 litres of petroleum products in 2011. NEITI in its audit report submitted to the National...

    • Posted March 29, 2014
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  • Ashaka Cement faults plan to ban 32.5 cement grade

    Ashaka Cement Plc has faulted the federal government’s plan to ban the production of 32.5 cement grade in the country. The Chairman of the Board, Ashaka Cement Plc, Alhaji Umaru Kwairanga said during a chat with journalists...

    • Posted March 29, 2014
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  • FCMB Capital in $65m office complex finance deal

    FCMB Capital Markets Limited, the investment banking subsidiary of FCMB Group Plc, has announced a finance deal worth $65m of an office complex called the Heritage Place. A statement by the company on Thursday noted that the...

    • Posted March 29, 2014
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  • Blame customs for rice smuggling, revenue loss – Minister

    The Minister of Agriculture, Dr. Akinwumi Adesina, on Thursday blamed the Nigeria Customs Service for the billions of naira the country was losing as a result of the Federal Government’s 100 per cent tariff regime on the...

    • Posted March 29, 2014
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  • Transactions maintain upbeat trend on NSE

    Weekly transactions on the Nigerian Stock Exchange (NSE) on Friday ended on positive note for the fourth consecutive day. The News Agency of Nigeria (NAN) reports that Nestle remained the highest price gainer with N25 to close...

    • Posted March 28, 2014
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  • UBA declares N264.7b gross earnings for 2013

    The United Bank for Africa (UBA) has announced gross earnings of N264.7 billion for the financial year ended Dec. 31, 2013. The earnings showed a 20.3 per cent growth over the N220.1 billion recorded in 2012. The...

    • Posted March 28, 2014
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  • Shell explains use of trucks to transport crude from spill site at Ikarama in Bayelsa

    The Shell Petroleum Development Company (SPDC) says its use of vacuum trucks to convey crude from oil fields in the Ikarama community of Bayelsa is a measure to clean-up an earlier spill incident. An SPDC Spokesman, Mr...

    • Posted March 28, 2014
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  • E-commerce attracts N8.25bn foreign investments

    Following the boom in online and e-commerce transactions in Nigeria, the sector is attracting a significant foreign investments as two of the leading players in the sector, Jumia and Konga  received $50 million (N8.25 billion) investments in...

    • Posted March 28, 2014
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  • Dangote Cement rewards shareholders with N119bn dividend

    Leading cement manufacturing firm, Dangote Cement Plc, Wednesday unveiled a record financial performance for the year ended December 31, 2013. The company reported a revenue of N386.2 billion, up 29.4 per cent from N298 billion in 2012....

    • Posted March 28, 2014
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