France’s largest telecom operator, Orange, plans to extend its presence in Africa and will give itself a few months to make a potential move, Reuters said on...
The Lagos Chamber of Commerce and Industry (LCCI) has declared that the total credit granted to the private sector rose to N26.69 trillion in 2019, up...
Total power generation in the country dropped to 2,943.4 megawatts on Sunday from 3,585.6MW on Saturday as 10 power plants went idle, data obtained from the...
In the week that just went by, the Nigerian bourse posted gains on Monday and Tuesday, losses on Wednesday and Thursday while the market did not...
A Benin City Federal High Court has issued a restraining order against Dangote Industries and the Nigerian Police Force, stopping them from interfering with the operations...
The Securities and Exchange Commission (SEC) on Sunday dismissed reports that its Acting Director-General, Ms. Mary Uduk, had resigned from the commission. The Head of Corporate...
Nigeria’s West African neighbours – Togo, Benin and Niger – received a total invoice of N32.04 billion for the electricity supplied to them by the country...
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market, mainstream business activities...
Africa’s biggest multilateral lender, African Development Bank (AfDB) said it had responded to the needs of its member nations in an effort to contain the spread...
The Federal Government’s third Sovereign Sukuk bond of N150 billion was oversubscribed by N519.12 billion, the Debt Management Office (DMO) has said. The debt office disclosed...
The Nigerian bourse saw limited trading sessions this week as a result of the public holiday observed on Friday in commemoration of the 2020 Democracy Day....
Nigeria’s public transport sector lost an estimated N200 billion in three months due to the lockdowns imposed to contain the spread of the novel coronavirus pandemic,...
The failure to fix Nigeria’s refineries over the years is essentially a strategy problem, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele...
Oil prices dropped on Friday, extending huge losses from overnight as the coronavirus cases in the U.S. soared this week, raising fears that a new wave...
President Muhammadu Buhari has said the country’s external reserves, which expanded from $33.42 billion on 29th April 2020 to around $36 billion in May 2020, is sufficient...
The Department of Petroleum Resources (DPR) on Thursday extended the deadline to register to bid for Nigeria’s marginal oilfields by one week. The DPR had on...
The Senate President, Ahmad Lawan, said on Thursday the 9th Senate had approved foreign loans in excess of $28 billion for the Executive in the last...
The lockdown imposed by government as a measure for containing the coronavirus spread across the country impacted the demand for Premium Motor Spirit (PMS) in Nigeria,...
The Nigerian bourse extended the previous session’s loss on Thursday, depreciating by N16.885 billion amidst negative sentiment triggered by heavy sell pressure. Thursday’s downward drift was...
Ahead of the June 21 resumption of domestic flight operations in five airports across the country, the Federal Airports Authority of Nigeria (FAAN) has met with...
Oil prices dropped by nearly 4% on Thursday over concerns about weak demand growth as coronavirus cases rise with U.S. crude inventories touching an all-time high...
Nigeria’s currency, the Naira advanced against the U.S. dollar at the Investors and Exporters (I&E) window of the foreign exchange (forex) market on Wednesday, rising to...
The Nigerian National Petroleum Corporation (NNPC) has said it will end its crude sales discount regime next month. Mele Kyari, the Group Managing Director, made the...
The United Nations World Food Programme (WFP) is seeking $182 million as financial support for Nigeria’s worst hit by the coronavirus pandemic, including communities in North-East...
The Department of Petroleum Resources (DPR) has shut down a number of filling stations in the country, selling petrol above the new price band of between...
The Nigerian National Petroleum Corporation (NNPC) has revealed that a number of its partners are producing oil in Nigeria at $93 per barrel. Mele Kyari, the...
Profit-taking in a number of blue-chip equities dragged the Nigerian bourse down on Wednesday by N62.621 billion. The Industrial Index posted the biggest loss across the...
The African Development Bank (AfDB)’s Vice President for Agriculture, Human and Social Development, Dr. Jennifer Blanke, has resigned from the position. AfDB, which disclosed this in...
The House of Representatives Wednesday passed the revised 2020 Appropriation Bill, increasing the national budget from the planned N10.5 trillion to N10.8 trillion. Earlier, the executive...
The Minister of Power, Sale Mamman, has said that Nigerians currently enjoy between 18 and 24 hours of power supply every day. Mamman made the disclosure...
Oil prices fell more than 1% towards $40 per barrel on Wednesday after a report revealed a surge in United States’ oil storage, reigniting worries over...
Naira made a rally against the U.S. dollar at the parallel market segment of the foreign exchange (forex) market on Tuesday. Market data obtained from exchange...
Telecom giant, MTN Nigeria PLC Tuesday said it had completed the issuance of N100 billion Series I and II notes under the debut N100 billion Commercial...
The shareholders of Dangote Sugar Refinery PLC and Savannah Sugar Company Limited will on 9th July meet to consummate a merger deal. Dangote Sugar said in...
A total of 1.6 million farmers will receive the financial support of the Central Bank of Nigeria (CBN) in the wet planting season this year. The...
The Nigerian bourse added N44.442 billion on Tuesday on the back of strong positive sentiment from investors. The Industrial Index posted the biggest gain across the...
Lagos State Governor, Babajide Sanwo-Olu, has approved the appointment of Mr. Babalola Obilana as the new Director-General of the Lagos State Pension Commission (LASPEC). The Public...
The Nigerian Electricity Regulatory Commission (NERC) on Tuesday threatened to sanction seven electricity Distribution Companies (DisCos) for failing to comply with its order on capping of...
Nigeria recorded a total trade deficit of N138.98 billion between January and March this year, the statistics office said on Tuesday in its Foreign Trade in...
Oil prices appreciated on Tuesday over optimism of a rapid rebound in fuel demand as coronavirus lockdown curbs are lifted around the world, but gains are...
Naira weakened against the U.S. dollar on Monday at the Investors and Exporters (I&E) window of the foreign exchange (forex) market, crumbling to N387.33 at the...
Nigeria’s immediate past Minister of State for Petroleum Resources, Ibe Kachikwu, has said that crude oil’s contribution to the mation’s economy will fall rapidly. Currently, oil...
Nigeria and Israel are on the verge of endorsing a bilateral deal aimed at developing methanol fuel production technology in the country. The Federal Ministry of...
Successful applicants, who meet the preconditions for the Central Bank of Nigeria’s (CBN) COVID-19 Targeted Credit Facility, will be in receipt of their funds 48 hours...
The Nigerian bourse rebounded on Monday on the back of buy pressure on blue-chip stocks led by MTNN, BUA Cement, UACN and Nigerian Breweries. All the...
Electricity consumers in the country would henceforth pay more for pre-paid meters following the hike in the price of the items by the Nigerian Electricity Regulatory...
Last week, the Nigerian bourse posted a negative growth, depreciating by N118 billion as the bear was dominant in the market. We have selected a group...
BUA Cement Plc has reported a N4.1 billion leap in earnings for the first quarter of 2020 on the back of improvement in turnover by 25.1%. The...
Oil prices strengthened on Monday, two days after world major producers consented to sustain a deal on historic production cuts to the end of July just...
The Central Bank of Nigeria (CBN) has released guidelines for its novel Healthcare Sector Research and Development Intervention Scheme, targeting scholars, scientists and other stakeholders who...
