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  • Why FG can’t sanction Discos, Gencos over inefficiencies – Fashola

    The Minister of Power, Works and Housing, Mr. Babatunde Fashola has said it would be difficult for the federal government to randomly punish the operational inefficiencies of electricity generating and distribution companies in the country because the...

    • Posted June 8, 2016
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  • Cooking gas crisis to ease as marketers await arrival of NLNG vessel

    Barring any unforeseen circumstances, the Nigeria LNG Limited will bring a vessel of Liquefied Petroleum Gas (LPG, better known as Cooking Gas, to Lagos this week, thus effectively resolving the supply crisis that created a monopoly situation...

    • Posted June 8, 2016
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  • FG, Banks eye N5tn pension fund as National Assembly promises speedy legislation

    The federal government and commercial banks are targeting the whopping N5 trillion pension fund being managed by pension administrators as a means of revitalising the dwindling economy. This hint was dropped monday at the opening session of...

    • Posted June 8, 2016
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  • Stumbling dollar, Nigeria’s militancy push oil prices above $50

    Stumbling dollar and attacks on Nigeria’s oil and gas facilities by the Niger Delta Avengers (NDA), which also tightened crude oil supplies to the international market, pushed up Brent crude oil prices yesterday above $50 per barrel,...

    • Posted June 8, 2016
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  • NSE cautions against relegation of engineers in NNPC’s restructuring

    The Nigerian Society of Engineers (NSE) has said it would not take lightly any case of relegating to the background, standard engineering practices and norms, which result to competent results in the federal government’s ongoing restructuring of...

    • Posted June 8, 2016
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  • Adeosun meets bond investors in London

    Indications have emerged that Nigeria may issue another Eurobond any time soon as a Federal Government delegation led by the Minister of Finance, Mrs. Kemi Adeosun, meets bond investors in London on Tuesday. The Federal Government has...

    • Posted June 8, 2016
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  • Forex policy uncertainty pushes naira to 357/dollar

    The naira dropped against the United States dollar at the parallel market from 355 on Friday to 357 on Monday, foreign exchange traders said. Analysts and traders linked the drop to the mounting fears among traders and...

    • Posted June 8, 2016
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  • NLNG denies link with $3.1bn fund recovery

    The Nigerian LNG Limited has said none of its accounts is being investigated by the Economic and Financial Crimes Commission or any other anti-graft agency. The NLNG said this on Monday in a statement signed by its...

    • Posted June 8, 2016
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  • IATA: Member airlines to earn $39.4bn in 2016

    The outgoing Director General and CEO of the International Air Transport Association (IATA), Tony Tyler has announced that member airlines would earn about $39.4 billion this year. Speaking at the opening of the 72nd IATA Annual General...

    • Posted June 7, 2016
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  • Equities Market loses N2tn to policy inconsistency, delays

    Policy flip-flops   by the government, dwindling poor corporate results by quoted companies and general downturn in the economy have led to a fall of N2 trillion in the value of the Nigerian equities market within the last...

    • Posted June 7, 2016
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  • CBN sells $2.188bn to banks in three months

    As the Central Bank of Nigeria (CBN) continues with its demand management policy in foreign exchange (forex) allocation to financial institutions, the returns on foreign exchange utilisation have shown that it sold a total of $2,177,999,996 to...

    • Posted June 7, 2016
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  • Another 140,000 bpd shut in as Agip, AITEO close operations in Bayelsa

    Nigeria’s crude oil production capacity has again dropped by 140,000 barrels per day (bpd) from the renewed activities of the Niger Delta Avengers (NDA), a new militant group in the country’s Delta region. The News Agency of...

    • Posted June 7, 2016
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  • We have refunded N27bn illegally charged bank customers – CBN

    In continuation of its consultation with major stakeholders in the economy, the Central Bank of Nigeria (CBN) at the weekend met with members of the Nigeria Labour Congress (NLC). At the meeting, the Consumer Protection Department of...

    • Posted June 7, 2016
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  • Lagos pays N1bn to 257 retirees

    The Lagos State Government has issued retirement benefit bond certificates to the tune of N1.002bn to a set of 275 retirees from the Mainstream, Local Government, Lagos State Universal Basic Education Board, Teachers Establishment and Pension Office...

    • Posted June 7, 2016
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