No documentation was endorsed between 2013 and 2015 showing Nigeria would be liable to pay $1.2 billion in case it breached the contract for the Azura-Edo...
Courier and logistics businesses in Nigeria are facing a double whammy of coronavirus crisis and license fee hike in a country with a bad name for difficulty...
The Nigerian government Wednesday granted ‘anticipatory approval’ of 18.94 million Euros (N8.648,081,465.2) as counterpart fund for a revamp contract that will enable Munich-based Siemens overhaul the country’s obsolescent...
The equity segment of the Nigerian Stock Exchange rallied on Wednesday as bank stocks dominated trade even though turnover, as it had been in recent time,...
Oil prices climbed up Wednesday following an abrupt fall in U.S. crude storage even though demand fears from unprecedented rises in coronavirus cases limited gains. Brent...
Banks in Nigeria face higher borrowing costs and a monumental threat to revenues as the Central Bank of Nigeria (CBN)’s policies to bolster the naira creates...
The World Bank Wednesday said it had consented to a $500 million credit at the behest of the International Development Association, which provides loans and grants...
The Federal Inland Revenue Service (FIRS) on Tuesday threw more light on the operation of the stamp duty on tenancy in the country. According to Muhammad...
State-owned Nigerian National Petroleum Corporation (NNPC) has signed a $1.5 billion oil prepayment pact midwifed by Standard Chartered and backed by oil traders, Matrix Energy and...
Profit-taking in heavyweight stocks ended Monday’s rebound of the equity market of the Nigerian Stock Exchange (NSE) on Tuesday, with Seplat, Total, MTNN, Julius Berger and...
Oil prices were steady on Tuesday as optimism for further U.S. measures to bolster the economy tempered a demand outlook overshadowed by surge in coronavirus infections...
An independent panel led by one-time Irish president, May Robinson, has cleared the embattled African Development Bank (AfDB) chief, Akinwunmi Adesina of corruption. The AfDB head...
The Value Added Tax (VAT) amassed by the Nigerian government in the first half of 2020 totalled N651.77 billion, 8.5% higher than the figure for the...
Twenty-three per cent of banks’ loan portfolio might put the asset quality and future profitability of the sector in limbo, credit rating agency, Agusto & Co...
The non-performing loans portfolio of banks in Nigeria added up to N1.2 trillion at the end of June, figures obtained from the Central Bank of Nigeria...
The equity segment of the Nigerian Stock Exchange (NSE) rallied on Monday following a largely bearish market last week, with large-cap and mid-cap stocks like Dangote...
Oil prices fell on Monday as uptick in coronavirus infections and escalation of tensions between the United States and China drove investors to commit their capital...
Government’s expenditure on pension and gratuity settlement came to N292.38 billion last year, the Central Bank of Nigeria (CBN) has said. According to a report by...
The Nigerian equity market recorded depreciation four times in the week that just went by and appreciation once, with the developments in the market informing Ripples...
Nigerian states depend on the federal government for over 70 per cent of their survival, raising fears of their stand-alone potential without intervention from the centre,...
The Federal Inland Revenue Service (FIRS) on Saturday made clarifications on categories of stamp duties to be paid by tenants across the country. The Director of...
Dangote Cement Plc Friday announced its pre-tax profit for the first half of 2020 advanced to N126.143 billion, 5.8% higher than the N119.240 billion reported in...
The Minister of Communication and Digital Economy, Dr Isa Pantami has ordered the Nigeria Postal Services (NIPOST) to halt its implementation of an increase in licensing...
The NSE’s transaction size crossed the 1.350 billion shares mark this week on sustained upward momentum in activities in three fortnights of trade. Yet, market the...
Sell pressure on oil and gas and industrial stocks accounted most for the fall by N44 billion in the market value of the equities segment of...
Oil prices rose Friday on the back a weaker dollar although the aggravating feud between the world’s two most advanced economies, United States and China, hurt...
MTNN sees its profit margin dropping by nearly half a percentage point in 2020 as its tower services, which it leased from another company, reel from...
Naira inched higher against the United States dollar on Thursday at the over-the-counter spot market widely used by investors, closing at N388, 0.07% or 17 kobo...
Nigeria’s spending on chemicals from abroad came to $1.4 billion in 2019, the National Research Institute for Chemical Technology said Thursday. Jeffrey Barminas, Director General of...
The Nigerian government hopes to amass income of between N13 and N18 trillion through oil and non-oil means with a view to bolstering its revenue to...
Gains by MTNN and Dangote Cement, Nigeria’s biggest and second biggest companies by market value in that order, lifted the equity market section of the Nigerian...
Confectionery and beverage maker, Cadbury Nigeria Plc, said Thursday it saw a slump in revenue of N3.538 billion in the first half of 2020. The turnover,...
Oil prices hit weaker levels on Thursday following a shock build in United States oil inventories and as low fuel consumption hurt prices. U.S crude and...
The rate of exchange of naira to the United States dollar remained immobile for three days in a row Wednesday at the black market, data from abokiFX.com showed,...
Landlords and property agents in Nigeria now have the backing of the law to charge a 6% stamp duty on every agreement executed with clients for...
Gas flare actions across oil and gas sites in the country cost Nigeria $779 million in the first half of 2020, data from Nigerian Gas Flare...
The Central Bank of Nigeria (CBN) support to agribusiness farmers through the Commercial Agriculture Credit Scheme since the initiative launched totalled N635.39 billion at the end...
The equity segment of the Nigerian Stock Exchange (NSE) closed flat on Wednesday as the forces of demand and supply reached parity and little movement was...
Oil prices weakened on Wednesday, with industry figures of growth in United States’ crude stockpiles confounding analysts’ expectation and a dramatic increase in the country’s coronavirus...
Naira hovered at the rate of 472 to the United States dollar on the parallel market on Tuesday, the same rate it sold for the session...
Italy prosecutors are demanding penalties varying from fines to jail terms for former and current officials of oil supermajors, Eni and Shell including Eni’s CEO Claudio Descalzi,...
Total revenues from income sources into the Nigerian government’s treasury tumbled by N1.46 trillion in the first quarter of this year, 36% below projection, the Central...
The equity segment of the Nigerian Stock Exchange (NSE) diminished by N49.630 billion, continuing days of intense profit-taking as traders scrambled to sell off their holdings...
The total exposure of banks to the economy ballooned by N3.3 trillion at the end of June compared to the corresponding period of May, the Central...
Lagos State Internal Revenue Service (LIRS) Tuesday said it had set in motion the implementation of a tax relief scheme that would deliver further incentives and...
The Nigerian National Petroleum Corporation (NNPC) Monday expanded its export of 4 key crude oil grades for September to 756,000 barrels per day, two per cent...
Access Bank Plc Monday declared it had concluded the takeover process of Kenya’s Transnational Bank Limited, nearly eight months after the deal was brokered. The transaction...
The Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, said on Monday the apex bank had funded about 20 projects valued at ₦26.278 under its...
The equity market of the Nigerian Stock Exchange (NSE) sustained the negative performance seen at the previous session on Monday as sell pressure mounted on bank...
The Central Bank of Nigeria (CBN), rising from its Monetary Policy Committee (MPC) meeting Monday retained its monetary policy rate, which measures the interest rate at...
