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  • Budget: FG to save less on oil revenue, deficit falls to 1.85% of GDP

    Nigeria’s budget deficit is set to fall to 1.85 percent of gross domestic product in 2013, the budget office said on Thursday, as government opted to save less of its oil revenue. A finance ministry document circulated...

    • Posted March 7, 2013
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  • Senators protest allocation of 83% of oil blocs to Northerners

    Senators from the oil-rich South-South region, on Wednesday, alleged that there was an imbalance in the allocation of oil blocs in the country, saying wealthy individuals from the North own 83 per cent of oil wells that...

    • Posted March 7, 2013
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  • FG to establish 18 cassava processing industries

    The federal government is to collaborate with the private sector to establish 18 cassava processing industries with machines that can process 240 tonnes of cassava per day. Olusegun Adewunmi, the President, Nigeria Cassava Growers Association (NCGA), stated this in...

    • Posted March 7, 2013
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  • PHCN abandons surveillance helicopters at Lagos airport

    Indications emerged on Wednesday that the Power Holding Company of Nigeria had abandoned four helicopters worth millions of dollars at the Murtala Muhammed Airport, Lagos. Investigations by our correspondent revealed that the German-made Bolkow 105 helicopters had...

    • Posted March 7, 2013
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  • 195,534 jobs created through contracts in 2012 – FG

    The Federal Government generated a total of 195,534 jobs through the various contracts awarded by the Federal Executive Council in 2012. The Minister of Information, Mr. Labaran Maku, disclosed this to State House correspondents at the end...

    • Posted March 7, 2013
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  • International investors focusing on Nigeria, three others for growth and investment – KPMG boss

    The Chairman, KPMG global, Mr. Andrew Michael has said that Nigeria is one of the four countries that International investors would want to invest in. Andrew said this while addressing newsmen in Lagos on his working visit...

    • Posted March 7, 2013
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  • NSE Market Capitalisation Losses N17bn

    Trading on the Nigerian Stock Exchange (NSE) maintained the depressed note on Wednesday with the market capitalisation dropping by N17 billion. The News Agency of Nigeria (NAN) reports that the market capitalisation, which opened at N10.490 trillion,...

    • Posted March 6, 2013
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  • Airtel unveils data plans for BlackBerry 10

    Shortly after becoming the first operator to sell the flagship BlackBerry 10 in its shops nation-wide, leading telecommunications service provider, Airtel Nigeria has unveiled special data bundled packages exclusively for the top notch smartphone device. The Airtel’s...

    • Posted March 6, 2013
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  • Lagos economy rated above Ghana, UK – Fashola

    Lagos State Governor Babatunde Fashola has said the economy of the state is rated above Ghana and the United Kingdom. He also said his administration is currently executing about 1,966 projects across the state. He said the...

    • Posted March 6, 2013
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  • Manchester United Champions League exit to cost at least £22m

    Manchester United’s elimination from the Champions League by Real Madrid, who won at Old Trafford, could cost them at least £22 million. Sir Alex Ferguson’s side had looked set to progress as they led the Spanish side...

    • Posted March 6, 2013
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  • “Nigeria never had $67bn in foreign reserves” – Sanusi

    Contrary to the claims by former Minister of Education, Mrs. Oby Ezekwesili that the country had $67bn in foreign reserve, the Governor, Central Bank of Nigeria, Mr. Lamido Sanusi on Tuesday said such amount never existed. Sanusi...

    • Posted March 6, 2013
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  • Ilasa-Ekiti robbery: Former bank manager, four others arraigned

    A former bank manager, Ayokunle Asaba (36), and four others were yesterday arraigned before an Ekiti State Magistrate’s Court for allegedly robbing a first generation bank in Ilasa-Ekiti on May 24, last year. The others are Dele...

    • Posted March 6, 2013
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  • Jumia, Nigeria’s largest e-commerce retailer, receives 20m Euros funding from Summit Partners

    Jumia, Africa’s largest and fastest-growing e-commerce retailer with websites in Nigeria and in Egypt and Morocco, announced today that it has received an investment of €20 million from leading growth equity investor Summit Partners. Summit Partners will...

    • Posted March 6, 2013
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  • Financial advisers recommend sale of Keystone, Enterprise, Mainstreet Banks

    The three nationalised banks whose status were assessed by Assets Management Corporation of Nigeria, AMCON, have been recommended for outright sale. The banks include former Bank PHB, Spring Bank and AfriBank, presently known as Keystone Bank, Enterprise...

    • Posted March 6, 2013
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