All business, markets and economics news
The unorganised informal business sector has bounced back after the federal and Lagos State governments took steps to rid the major seaport road and Oshodi-Apapa Expressway of trucks and tankers, which have been causing traffic congestion on the road i...
The telecoms industry has been in the eye of the storm since its inception in 2001, as Nigerians have been bearing the brunt of high call tariff and poor quality service, NCC after a long silence wielded the big stick on the network operators. Uche Udu...
Following the under-performance of indigenous airlines and the need to develop a virile airline industry in Nigeria, the Federal Government has said that, it is evolving guidelines that will make for the growth of the domestic airlines. The government ...
The Minister of Communication Technology, Mrs. Omobola Johnson has said that, her ministry is working tirelessly to create an enabling environment that will attract more investors into the sector. Johnson who stated this in Abuja recently, notes that c...
The Federal Ministry of Environment has reiterated its commitment to the Abidjan Convention on Marine and Coastal Environment, saying, it intends to participate actively in the 10th Conference of the parties, holding in Pointe Noire, Congo Brazzaville ...
A few large companies dominate export markets in developing and developed countries, with the top one percent often accounting for more than half, sometimes nearly 80 percent , of total exports, according to a new World Bank database with a wealth of d...
The National Bureau of Statistics last week announced that inflation rate rose to 12.9 per cent in April, year-on-year, driven largely by non-food items, sending interest rates on bonds and interbank borrowing on an upswing. The figure compared with a ...
The delay in the release of funds to the three tiers of government by the Federation Account Allocation Committee (FAAC) has further worsened the liquidity situation in the financial system, further increasing inter-bank lending rates last ...
The Nigeria National Petroleum Corporation (NNPC) has said that the volume of gas currently flared in the country has dropped from 19 per cent in December, 2011 to 14 per cent in January. This is contained in the latest edition of its online Mont...
The Federal Government has abolished payment for electricity metres by consumers, Chairman of the Nigerian Electricity Regulatory Commission (NERC), Dr. Sam Amadi, has disclosed. Amadi who disclosed this in Abuja yesterday said provision has been made ...
The Senate yesterday mandated the Nigeria Communication Commission(NCC) to recover over N1.17billion fine imposed on MTN, Etisalat ,Airtel and Globacom for poor service delivery. Nonetheless, NCC demanded N2billion to enable it monitor quality of...
Following her 12-month emergency time line to correct the misalignments in gas to power aspirations, the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has directed a team of gas experts to commence a one-week tour of all gas installatio...
Nigeria’s foreign exchange reserves rose to their highest in 21-months to $37.02 billion by May 14, from $36.66 billion at the end of last month, the latest figures from the central bank showed yesterday. Forex reserves in Africa’s biggest ...
Lagos State Governor, Mr. Babatunde Fashola yesterday lamented the failure of the nation’s textile industries, urging the Federal Government to revive the sector as way of boosting jobs creation and expanding the country’s economy. The gove...
The federal government yesterday in Abuja signed Memoranda of Understanding (MoU) on power projects with the French and Japanese governments, worth $200 million (N31.4 billion) and N2 billion respectively bringing it to a total of N33.4 billion. The Mo...