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  • Electricity drops to zero six times in one month

    The nation’s power generation plunged to zero megawatt six times last month, the highest level since 2009, industry data obtained by our correspondent on Friday showed. Electricity supply to households and businesses across the country dropped significantly...

    • Posted June 6, 2016
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  • Power firms insist on mass disconnection of debtors

    Power distribution companies say they will go ahead with mass disconnection of electricity consumers who fail to pay their bills, especially historic debtors, such as the Ministries, Departments and Agencies of the various levels of government. This...

    • Posted June 6, 2016
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  • Telecoms firms kick against communication tax

    Telecommunications operators and subscribers in the country have raised objection to the proposed bill for the imposition of a tax on electronic communication services. The Global System for Mobile Associations, which represents mobile operators worldwide, also joined...

    • Posted June 6, 2016
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  • Economic recession looms as analysts predict -2.9% GDP growth rate in Q2

    Analysts at FBNQuest Ltd, an investment and asset management subsidiary of FBN Holdings Ltd, have predicted that, in the second quarter of this year, the economy would record a negative GDP growth rate of -2.9 per cent...

    • Posted June 6, 2016
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  • Cautious optimism as oil heads to $60/barrel

    Last week, the United Arab Emirates’ economy minister, Sultan Bin Saeed Al Mansoori, reportedly joined market forecasters, who are looking forward to a $60 per barrel crude oil price by the end of 2016. With crude oil...

    • Posted June 6, 2016
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  • IATA: Airlines may boycott Nigeria, other countries with trapped funds

    The International Air Transport Association (IATA) yesterday hinted that foreign airlines may withdraw services in Nigeria and other countries where their revenues were trapped unless they urgently release the trapped money put at about $5.1 billion. Outgoing...

    • Posted June 5, 2016
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  • FG orders banks, financial institutions to suspend further retrenchment

    As economic downturn hits the nation harder, the federal government, yesterday, directed all banks and financial institutions to suspend staff retrenchment. Minister of Labour and Employment, Chris Ngige issued the directives yesterday. He said: “Following the high...

    • Posted June 5, 2016
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  • Ajibola sworn in as CIBN president

    The Chartered Institute of Bankers of Nigeria at its Annual General Meeting held recently elected Professor Segun Ajibola as its 19th President and Chairman of Council. Ajibola will oversee the affairs of the institute for the next...

    • Posted June 5, 2016
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  • More innovation needed for financial market – CBN

    Operators in the country’s financial market need to leverage technological innovations to drive the growth of the market, while forestalling a possible occurrence of a market failure, the Director, Banking and Payment Systems Department, Central Bank of...

    • Posted June 4, 2016
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  • Cooking gas price rises by 45%, marketers lament

    The price of Liquefied Petroleum Gas, popularly known as cooking gas, has jumped by 45 per cent in less than a week amid scarcity of the product. Our correspondent gathered that the price of 20 metric tonnes...

    • Posted June 4, 2016
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  • Foreign airlines lose Nigeria’s high yield market to economic downturn

    THISDAY investigations have revealed that foreign airlines lose about $200 million monthly to the present economic crunch in Nigeria, which has forced potential travellers to defer their trips due to lack of disposable income. Also, there is...

    • Posted June 4, 2016
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  • Lagos restates commitment to SMEs

    The Deputy Governor of Lagos State, Dr. Idiat Oluranti Adebule, has expressed the commitment of the state to promote the growth of Small Mediums Scale Enterprises (SMEs). This, she said followed the recent inauguration of the N25...

    • Posted June 4, 2016
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  • Pension funds rise to N5.4tn

    Director-General, National Pension Commission,(PenCom), Mrs Chinelo Anohu-Amazu has revealed that Nigeria’s pension funds now stand at about N5.4 trillion with approximately seven million contributors. Anohu –Amazu who spoke Anohu-Amazu said this while speaking on the Role of...

    • Posted June 4, 2016
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  • Again, Nigeria’s Manufacturing Index declines

    Nigeria’s Manufacturing Purchasing Managers’ Index (PMI) rose to 45.8 index points in May 2016, compared to 43.7 in the preceding month. This according to the PMI report for May 2016 posted on the Central Bank of Nigeria’s...

    • Posted June 3, 2016
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