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The Nigeria Electricity Regulatory Commission (NERC) says Eko Distribution Company has refunded N8 million to residents of Victoria Garden City Estate in Lagos. Dr Sam Amadi, NERC chairman, told newsmen in Abuja on Friday that the money was the excess ...
World Bank Vice President for Africa, Dr Oby Ezekwesili, has charged African Leaders to make policies that would boost economic growth and reduce poverty in the region. Ezekwesili said this at the on-going Spring Meeting of the World Bank and Int...
The Central Bank of Nigeria (CBN) has concluded plans to introduce a new risk management framework known as the macro-prudential risk framework for effective management of risk in the financial sector, particularly in the banking industry, this year. C...
The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has admitted the shortage of gas to power sector, declaring a 12-month gas supply emergency plan to address the situation. The minister in a statement issued in Abuja yesterday, said the...
Nigeria and Saudi Arabia are to earn about $341 billion or 32.3 per cent of the total 12-member nations Organisation of Petroleum Exporting Countries (OPEC) $1.171 trillion expected oil income this year. According to United States Energy Informat...
United Bank for Africa (UBA) Plc, one of the largest financial services groups in Africa with operations in 19 African countries and three global financial centres, has posted a profit of N16 billion in the first quarter (Q1) of 2012, surpassing the N1...
The Nigerian Stock Exchange (NSE) will be signing on the trading system of the multinational financial services powerhouse, NASDAQ OMX System. This is part of plans to upgrade its current trading platform to the cutting-edge NASDAQ X-Stream - a high pe...
The Nigerian Ports Authority says it has removed 24 critical wrecks from Lagos channels. Chief Micheal Ajayi, NPA General Manager (Public Affairs), disclosed this to the News Agency of Nigeria (NAN) on Wednesday in Lagos. Ajayi said that the draught of...
In this interview with JULIET ALOHAN, the Executive Secretary of the Petroleum Technology Development Fund (PTDF) Engr. Muttaqha Rabe Darma, says he took over the helm of affairs of the Fund at a time when it enjoyed little or no popularity from Nigeri...
The Apapa and Tin-Can Island ports in Lagos are to receive 3,643 vehicles on board 10 ships in the next 13 days, the News Agency of Nigeria (NAN) reports. The “Shipping Position”, a document of the Nigerian Ports Authority (NPA), issued in ...
Dr Ngozi Okonjo-Iweala, Coordinating Minister for the Economy, yesterday in Abuja said the growth collectible revenue estimated in 2012 budget was N9.692 trillion. Okonjo-Iweala, who gave the figure at the 2012 budget presentation organised by the Budg...
Despite the fact that $72/per barrel (pb) oil price benchmark was used for the 2012 budget, the Governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi, said that a decline in oil price to around $85 or $90 a barrel portends problem for the...
In its efforts at implementing programmes in line with the transformation agenda of President Goodluck Jonathan, the Directors-General of the Nigerian Tourism Development Corporation and the Nigerian Television Authority have decided to explore new way...
The country’s foreign exchange reserves jumped by 3.63 per cent on to $36.08 billion on April 13, the highest in more than one year, the latest central bank data showed on Monday. The forex reserves of Africa’s biggest crude exporter stood ...
Minister of State, Finance Dr. Yerima Ngama, said in Abuja yesterday that Ministries, Departments and Agencies (MDA) achieved 80 per cent implementation of the 2011 budget. Yerima made the observation on the occasion of the public presentation of...