Thursday, July 28, 2022

Nigeria’s foreign portfolio slides by 21.6%

Foreign portfolio investments (FPI) in Nigeria have continued to dwindle as latest investment report indicates that Nigeria recorded about 21.6 per cent foreign portfolio...

Dangote to generate 12,000MW electricity

The President, Dangote Industries, Aliko Dangote, has said his company should be able to generate about 12,000 megawatts of electricity for the country by...

MTN Group Grows Nigeria’s Economy by 4.5%

The South Africa-based MTN Group said it had invested over $16 billion in Nigeria over the past 15 years of MTN Nigeria’s operations in...

FG mulls construction industry for economic growth

The Federal Government will look at the construction sector to grow its potential, Minister of Power, Works and Housing Babatunde Fashola has said. The minister...

Nigeria Needs Cooperative Lending Model – SMEDAN

Director General ( DG), Small and Medium Enterprises Development Agency of Nigeria ( SMEDAN), Bature Masari has said that until every Nigerian, particularly, the...

NSE gives Companies 19-day deadline to submit annual reports

Companies quoted on the Nigerian Stock Exchange (NSE) have 19 working days to submit their audited report and accounts for the past business year...
NBS National Bureau of Statistics

Investment: IMF, NBS Launch e-GDDS platform 

The International Monetary Fund (IMF) and the National Bureau of Statistics (NBS) have unveiled the Enhanced General Data Dissemination System (e-GDDS) aimed at attracting...

MTN Sets Aside $600m For Nigeria Fine

South Africa’s MTN Group has set aside around 600 million dollars to cover the potential settlement of a fine in Nigeria, it said on...

Nigeria’s crude oil production to decline by 70,000bpd

The International Energy Administration (IEA) expected Nigeria’s oil production to decline by 70,000 barrels per day (bpd) by 2021 to 1.85 million bpd due...

FG using 75% of revenue to service debts – IDB

The Islamic Development Bank (IDB) said Nigeria was using 75 percent of its revenue to service debts incurred over the years. The Resident Representative of...

Dangote Cement Named ‘Most Outstanding Company’ of the year

In recognition of its contribution to the Nigerian economy, the Dangote Cement Plc has won the ‘Most Outstanding Company’ of the year award. The Abuja...
President Muhammadu Buhari

Buhari Promises to Remove Multiple Taxation

President Muhammadu Buhari has assured the business community in Qatar that Nigeria will remove any impediment that hinders investment in the country. His media aide,...

Agric Sector Roadmap Ready in 2 Weeks- Ogbeh

The Federal Ministry of Agriculture and Rural Development says its roadmap for the development of the agricultural sector will be ready in two weeks’...

Nigeria begins move to establish national carrier

Nigeria has commenced discussions on partnerships towards establishing a national airline for the country, according to the Presidency. The Special Adviser to the President on...

NNPC causes fuel scarcity –PTD President

National President, Petroleum Tanker Drivers, PTD, branch of National Union of Petroleum and Natural Gas Workers, NUPENG, Salimon Akanni Oladiti, has accused Nigerian National...
electricity

DISCOs may declare force majeure

Electricity distribution companies (Discos) may soon declare a force majeure, the Chief Executive Officer of one of the companies has confided in the Nigerian...
Naira Dollar

Mobile Money Transaction hits N40bn Monthly

With the growing adoption of the cashless policy and increased patronage of mobile money, the Central bank of Nigeria (CBN) has put the value...

Banks pay N6.2tn via 13.5 million cheques

A total of 13.46 million cheques worth N6.19tn were processed by the banking sector in the 2015 fiscal period, figures obtained from the Nigerian...

FG Charges Private Sector Industrial Growth

The Federal Government on Saturday challenged the Organised Private Sector (OPS) to come up with new ideas to turn Nigeria into an industrial giant. The...
Naira Dollar

CBN reshuffles directors to curb Forex crisis

Central Bank of Nigeria (CBN) Governor Godwin Emefiele has reassigned some of his directors in apparent response to the current foreign exchange (forex) crisis...