All business, markets and economics news
The Naira strengthened against the dollar, heading for the highest in more than seven weeks, as investors prepared for an inflow of the dollar yesterday. The naira closed at N155.69 and N155.80 to the dollar at the official and inter-bank market respec...
All eyes would beam on the Senate Committee on Aviation today as it commences probe on the anti-competive practices allegedly perpetrated by foreign airlines within nation’s aviation sector. The public hearing which will hold at the Senate would ...
Nigeria’s main focus during this year’s edition of the Arabian Travel Market is to woo investors from around the world to invest in the tourism sub-sector of the economy, the Director-General, NTDC, Otunba Segun Runsewe, has said. Nigeria w...
The epileptic power supply currently being experienced in some parts of the country, particularly in Lagos State is to witness an improvement by the end of this month. Two power plants Egbin and Olorunsogo which are the major power sources to Lagos and...
French energy group Total has shut down a gas plant in southern Nigeria because of a technical fault during a drilling operation at an oil facility, the company said on its website. “On April 3rd, Total E&P Nigeria Limited (TEPNG) was alerted...
A renowned environmentalist, Mr Nnimo Bassey, has called on the Federal Government to impose stiffer penalties on oil firms that pollute the environment in the Niger Delta area. Bassey said in an interview with the News Agency of Nigeria (NAN) in Eket,...
Mines and Steel Development Minister Mohammed Sada says the quality of Maiganga coal deposit in Akko Local Government Area of Gombe State is good for power generation Sada told newsmen on Friday that ``the quality has been already proven to be good en...
Burdened by myriads of challenges in the manufacturing sector, a delegation of the Ikeja and Apapa chapters of the Manufacturers Association of Nigeria (MAN) yesterday visited the state governor Babatunde Fashola SAN to seek greater support to manufact...
About 14 ships laden with petroleum products are waiting to berth at Apapa and Tin-Can Island ports in Lagos at the weekend. This was contained in the "Shipping Position", a document of the NPA, released in Lagos on Friday. It indicated that ...
Power generation in the country has dropped below 2,000 megawatts due to system collapse at Egbin Power Station. An official of the Ministry of Power, who pleaded anonymity, told our correspondent on Friday in Lagos that power supply had worsened in ma...
An increase in electricity tariff is imminent as the federal government has said it cannot privatise the Power Holding Company of Nigeria (PHCN) unless the Cost Reflective Tariff (CTF) for electricity is fixed. Minister of Finance and Coordinating Mini...
The Senate Committee on Aviation has invited the Ministers of Aviation, Stella Oduah-Ogiemwonyi, and her Foreign Affairs counterpart, Mr Gbenga Ashiru, to explain the prevalence of violation of aviation laws by foreign airlines as well as the lapses in...
The Federal Government of Nigeria has explained why the country should continue to partner with investors from the United States in the area of agriculture. In his keynote address at the on-going Nigerian Investors Forum on Agriculture in Washington DC...
Accusations by foreign airlines that fares from Nigeria are higher than other countries with the same equidistant because of high taxes has been debunked by the Nigerian Civil Aviation Authority (NCAA), saying some of the taxes in Britain are even high...
The management of Olokola Free Trade Zone (OKFTZ) Enterprise has said the investment would attract N30 billion dollars (N4.73 trillion) in the next three years. Mr. Luk Haelterman, Managing Director, OKFTZ, who disclosed this to newsmen in Lagos, said ...