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  • BPE to select new concessionaire for Trade Fair Complex

    The National Council on Privatisation (NCP) has mandated the Bureau of Public Enterprises (BPE) to immediately initiate fresh processes for a new concession transaction on the Lagos International Trade Fair Complex (LITFC) which it recently withdrew from...

    • Posted September 7, 2017
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  • CBN spends $9bn to defend naira in 7 months

    Central Bank of Nigeria (CBN) sold $9 billion to forex dealers through the interbank market between February 21 and August 31 Daily Trust reports. The figure was arrived at following a 0review by this newspaper of all...

    • Posted September 6, 2017
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  • FIRS collects N2.5tr in 8 months

    The Federal Inland Revenue Service (FIRS) has collected N2.5 trillion as total revenue in the last eight months. A document available to Daily Trust indicated that the highest source of revenue collected was petroleum profit tax which...

    • Posted September 6, 2017
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  • States raised N791.2bn bonds in 40 years

    States in the federation have raised N791.2 billion through issuance of bonds in 40 years to carry out infrastructural development projects or service loans. A bond is a debt investment in which an investor loans money to...

    • Posted September 5, 2017
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  • IMF endorses economic reforms, extends programme in Ghana

    The International Monetary Fund (IMF) after an assessment of the Ghanaian economy; tacitly endorsed the new government’ economic policies and reforms, which are aimed at fostering high growth and job creation. The Bretton Wood Institution, which approved...

    • Posted September 5, 2017
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  • Petrol now N130/ltr at depots, N142/ltr at stations – NNPC

    The Nigerian National Petroleum Corporation (NNPC) has said the ex-depot price of petrol has dropped from N138 to N133.28 per litre in most of its depots, indicating a gain of N4.72 for marketers. The drop is even...

    • Posted September 4, 2017
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  • Government owes Egbin power plant N125bn

    Egbin power plant, the biggest in Nigeria, is owed N125bn ($352m) by the Federal Government and half of its output is wasted because of inadequate transmission infrastructure, its Chief Executive Officer, Dallas Peavey Jr., has said. Out...

    • Posted September 4, 2017
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  • FG’s annual pension liabilities may exceed N474.12bn

    The Federal Government’s annual pension liabilities will rise above N474.12bn if the Nigeria Police Force and other paramilitary organisations are allowed to exit the Contributory Pension Scheme, findings have revealed. A bill to amend the Pension Reform...

    • Posted September 4, 2017
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  • Petrol shortage hits America, fuel prices go up

    Retail U.S. gasoline prices rose 2.8 percent from Friday to Saturday as refineries warned customers about the fuel-supply shortage. They were at $2.59 a gallon, according to motorists advocacy group AAA. It represents a 16.7 percent rise...

    • Posted September 4, 2017
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  • India slashes import of Nigeria crude oil

    Nigeria’s oil supply to India has hit its lowest level for this year, with the Asian country intensifying effort to diversify its sources of the commodity. India has remained the single largest buyer of Nigerian crude oil...

    • Posted September 2, 2017
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  • Union Bank gets SEC nod on N50bn rights issue

    Union Bank Plc has received approval from the Securities and Exchange Commission (SEC) to float a N50 billion rights issue. The lender, in a statement, said it anticipated that the rights issue would be open for subscription...

    • Posted September 1, 2017
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  • FIRS seals 20 shops in Onitsha over tax defaults

    No fewer than twenty business facilities were on Friday sealed off in Onitsha and environs by the special enforcement unit of the Federal Inland Revenue Service (FIRS) over default in tax payment to the federal government. The...

    • Posted September 1, 2017
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  • Nigerians spend N197bn monthly on Internet data

    Telecoms subscribers in Nigeria spend over N197 billion on internet data every month, Daily Trust’s analysis of mobile users’ average data usage per month has shown. The big four GSM operators – MTN, Glo, Airtel and 9mobile...

    • Posted September 1, 2017
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  • FG, BOI launch N5bn fund for artisanal, small scale miners

    The Ministry of Mines and Steel Development, in collaboration with the Bank of Industry (BOI), has launched a N5 billion fund in support of artisanal and small scale miners in the country. Under the arrangement, the ministry...

    • Posted August 31, 2017
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