All business, markets and economics news
Thirty-four ships laden with various food items and 17 others carrying petroleum products have arrived at Lagos ports. Also, 70 others carrying various cargoes, including fish, rice, bulk salt, sugar, old and new vehicles, petroleum products and genera...
The Debt Management Office (DMO) is offering for sale Federal Government bonds worth N83.91 billion, the News Agency of Nigeria (NAN) reports. The DMO, which posted details of the bonds on its Website, said the bids for the bonds opened on Wednes...
The Bureau of Public Enterprises (BPE) says over N200 billion will be realised from the privatisation of the 18 successor companies created from the unbundling of the Power Holding Company of Nigeria (PHCN). The information is contained in a stat...
Minister of State for Finance Yerima Ngama said on Wednesday that the Federal Government had spent N518 billion so far on fuel subsidy out of the N888 billion appropriated in the 2012 budget. The Minister disclosed this to the State House Corresp...
The Petroleum Technology Development Fund (PTDF) says it will soon start sending drilling engineers for training at the French Institute of Petroleum in France. Mr Kalu Otisi, PTDF, Head of Media, told the News Agency of Nigeria (NAN) in Abuja on Monda...
Former Minister of Interior and Chairman Genesis Worldwide Shipping, parent company of Integrated Oil & Gas Ltd, Capt. Emmanuel Ihenacho (retd.) has foretold that oil subsidy budget by the federal government for 2013 fiscal year will surpass the N8...
Arik Air has begun a partnership with Lufthansa of Germany for the local maintenance of Arik aircraft to ensure flight safety. Capt. Ado Sanusi, Arik Air Vice President for Flight Operations, confirmed this to journalists in Lagos after their tour of t...
Participants on Monday converged on Lagos ahead of a conference by 20 African countries to discuss ways of ridding the continent of substandard products. The News Agency of Nigeria (NAN) reports that as a prelude to the meeting, some of the participati...
Dr Olusegun Aganaga, the Minister of Trade and Investment, says that the Federal Government is partnering with the private sector to establish industrial parks to facilitate industrial development. Aganga said this in Abuja on Monday at the opening of ...
Managing Director of Hortigragh Nig. Ltd., Arc. Ahmed Goringo, in this interview with JULIET ALOHAN says estate developers peg the cost of house rent to the housing allowances of government officials. He also says that local manufacture of building mat...
Transactions on the Nigerian Stock Exchange appreciated for third consecutive day on Wednesday as the investing public weigh the implication of the suspension of the Director General of SEC, Ms Arunma Oteh. The News Agency Nigeria (NAN) rep...
Nigerian naira eased further against the U.S. dollar on the interbank on Wednesday despite the central bank's direct intervention to calm the market and an increase in supply of the greenback at its bi-weekly foreign exchange auction. The naira end...
Some financial experts on Saturday commended the Central Bank of Nigeria (CBN) over the N75 billion approved for the commencement of Nigerian Incentive-Sharing in Agricultural Lending (NIRSAL) to farmers. They told the News Agency of Nigeria (NAN...
The recent banking sector reform is targeted at stabilising the Nigerian economy, the Governor of Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi, said. Sanusi made the statement in Lagos on Thursday at the 4th stakeholders’ forum...
The First Lady, Dame Patience Jonathan on Thursday in Abuja said that the arts and crafts industry would promote economic emancipation of Africa, if developed. She said this at the opening of the 5th edition of African Arts and Crafts Expo (AFAC), orga...