NNPC remits N69.544bn into Federation Account
The Nigerian National Petroleum Corporation (NNPC) has announced an N18.89 billion loss from its oil and gas operations in March 2016.
The NNPC, in its...
Electricity: MDAs debt hits N78.6bn
The total electricity debt owed to Distribution companies Discos by Ministries Departments Agencies and parastatals MDAs as at April ending, 2016 is (78,676,366,684.22) N78.6...
Lekki Free Zone: LASG releases N1.6bn, woos investors
The Lagos State Government said it had released the sum of N1.6 billion as part of its equity contribution to the Lekki Free Zone...
Minister seeks review of business laws to attract investment
Industry, Trade and Investment Minister, Dr Okey Enelamah, has urged the National Assembly to review some of the existing business laws to provide the...
Ukraine vow to revive Ajaokuta Steel with $1bn
The Ukrainian Ambassador to Nigeria, Valeriy Aleksandruk, has disclosed that his country is ready to invest $1 billion into the Ajaokuta Steel Company in...
African Central Bank Governors Meet in Nigeria on Financial Stability
Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele last night began the hosting of several central bank governors across Africa to discuss the...
Lagos joins oil-producing states as Aje field begins production
Twenty years after it was discovered, the Aje field located in Oil Mining Lease 113 has achieved its first oil, putting Lagos on the...
Fed Govt subsidises petrol with N12.88 per litre
The Federal Government has said it would pay subsidy on petrol from the recoveries made in the first quarter of this year.
This is contained...
First Bank leads as CBN sells $669m to banks in April
As the Central Bank of Nigeria (CBN) continues with its demand management in the allocation of foreign exchange (forex) to end users in the...
World Bank praises Nigeria on Doing business
The World Bank Group has commended recent efforts by Nigeria to improve her ease of doing business climate.
Although in the latest report published in...
2016 Tourism, Culture Summit: Experts give tips for development
Experts at the 2016 National Summit on Culture and Tourism have recommended ways to reposition the sector to achieve the needed benefits.They made the...
NASC launches $800,000 Rice Seed Up-Scaling Project
The Director-General, National Agricultural Seed Council (NASC), Mr Olusegun Ojo, said the launching of 800,000 US dollar Rice Seed Up-Scaling Project would boost local...
First Bank to sack 1,000 workers
FBN Holdings Plc, the parent company of First Bank Nigeria Limited, is planning to cut about 1000 jobs and focus less on providing loans...
FG plans mass housing in 6 geopolitical zones
The Federal Government has completed plans to begin mass housing units in all the six geo-political zones of the country.
Speaking while declaring open the...
Fuel scarcity: KRPC begins 2m litres daily supply of PMS
Alhaji Idi Mukhtar, Managing Director, Kaduna Refining and Petrochemical Company (KRPC), says the company will begin daily release of 2 million litres of Premium...
Dangote Cement records N140.5bn revenue in Q1 2016
Dangote Cement has recorded a revenue of N140.5 billion in the first quarter ended March 31, 2016.
The News Agency of Nigeria (NAN) reports that...
90 power turbines not working-Fashola
The Minister of Power, Works and Housing, Babatunde Fashola, stated that only 50 out of the 140 power generating turbines in the country were...
NNPC: oil revenue declines by N1.1trn in one year
Nigeria's earnings from the petroleum sector dropped sharply, as revenue from the sale of crude oil dipped by N1.114 trillion to N1.86 trillion in...
Forex demands: Reserves deplet by $20m in 1 week
Petroluem products and school fees accounted for over $20 million of the $45 million obtained from the Central Bank of Nigeria (CBN) by four...
Consumers groan as food prices rise by 50%
Following the persistent shortage in fuel supply and the harsh economic climate, there has been an average of 50 per cent hike in the...
