The economic shocks of the coronavirus pandemic through lockdowns and eternal vulnerabilities might trigger income loss of around $34 billion in Nigeria and other oil-exporting countries...
The Nigerian government intends to generate around N1 trillion from stamp duties collection every year as a buffer against dwindling oil money, which accounts for nearly 65...
The Federal Inland Revenue Service (FIRS) has generated the sum of N66 billion from stamp duties in five months. The FIRS Director, Communications and Liaison Department,...
Profit-taking in heavyweight stocks including Dangote Cement and BUA Cement (two of the four most capitalised stocks on the Nigerian Stock Exchange) cost investors N198.054 billion...
Oil prices slid on Tuesday as traders embraced profit-taking after sharp gains were recorded in the last session and an imminent rise in supply weighed on...
Businesses that have been severely hit by the coronavirus crisis in the country are requesting a number of palliative measures including government grants, which will cater...
Nigeria and other sub-Saharan African nations require over $110 billion additional financing to deal with the impact of the coronavirus pandemic, the International Monetary Fund (IMF)...
Business owners, who desire to register their businesses with the Corporate Affairs Commission (CAC) will henceforth not need to obtain a Tax Identification Number (TIN) from...
The Nigerian bourse posted further gain on Monday with the market capitalisation rising by N15.579 billion on the back of buy pressure particularly in the shares...
The International Monetary Fund (IMF) has called for a cautious reopening of economies in sub-Saharan Africa considering that the novel coronavirus pandemic still poses a major...
President Muhammadu Buhari will on Tuesday flag off the construction of the $2.8 billion Ajaokuta-Kaduna-Kano (AKK) natural gas pipeline project, proposed to cover 614 kilometres. The event will...
Oil prices dropped on Monday as steep spikes in new global coronavirus cases drove some countries to resume partial lockdowns, heightening fears about the pace of...
The Petroleum Products Pricing Regulatory Agency (PPPRA) on Sunday, insisted that it no longer fixes the price of Premium Motor Spirit (PMS) but would instead develop...
Power distribution companies (Discos) on Sunday revealed that the decision to increase electricity tariffs beginning from 1st July was not a unilateral one made by electricity...
Last week, the Nigerian bourse posted losses Monday through Thursday but managed to turn in a positive performance on Friday. We have selected a group of...
The Nigerian bourse was largely bearish this week, posting losses Monday through Thursday as there were persistent profit-taking efforts among investors, which increasingly weakened the market...
The equity market rallied on Friday with stocks gaining N104.307 billion after 6 days of consecutive losses. Today’s rebound hinged on gains by heavyweight blue-chip stocks...
Oil prices edged up on Friday as the uptrend from signs of fuel demand recovery was kept in check by a spike in the number of...
The Nigerian government has said its post-COVID-19 recovery plan will both save and generate about five million jobs. Richard Adebayo, the Minister of Industry, Trade and...
Electricity distribution companies (Discos) have said they lose more than N30 billion of their monthly income to energy theft, vandalism, meter bypass and unsettled electricity bills...
The Nigerian government Thursday engaged stakeholders from different economic sectors for the implementation of its Highway Development and Management Initiative (HDMI). It declared that the HDMI...
A date for the re-opening of the nation’s airways and commencement of commercial domestic flight will be announced next week by the federal government. This was...
The coronavirus outbreak hindered the running of around 74.2% of Nigerian businesses, the Nigeria Employers’ Consultative Association (NECA) has said. Taiwo Adeniyi, NECA’s acting President, made...
Business operators in various sectors expressed pessimism in Nigeria’s economy in the month of June, a new report by the Central Bank of Nigeria (CBN) revealed...
The total value of Nigeria’s commodity exports to China, India, Spain, Netherlands and South Africa, which were the country’s major trading markets in the first quarter...
Negative sentiment dominated the market on Thursday as market capitalisation shed N65 billion on account of relentless profit-taking. Sell pressure on MTNN, Zenith Bank and FBN...
Nigerian banks are on the verge of restructuring more than a third of their entire loan portfolio after encountering repayment troubles on account of the coronavirus...
Five million Nigerians are at risk of being impoverished as the coronavirus outbreak sparks off the worst recession in Africa’s largest economy since the 1980s, the...
COVID-19 is increasingly wreaking havoc on the health of Nigerians, but its economic impact may well be more devastating. Before the pandemic, the Nigerian economy was...
Oil prices fell further on Thursday after a more than 5% fall the day before as U.S. crude stockpiles hit an unprecedented high and a resurgence...
Nigeria’s Manufacturing Purchasing Managers’ Index (PMI), which measures the prevailing direction of economic trends in the manufacturing sector, stood at 41.1 points in June 2020, indicating...
The Nigerian government will unbundle the Nigerian Postal Service (NIPOST) into three subsidiary companies which will operate on the principle of commercial viability while the core...
The Nigerian National Petroleum Corporation (NNPC ) Wednesday declared a trade deficit of N9.53 billion in its operations for March 2020, translating to a steep fall...
The International Monetary Fund (IMF) has lowered Nigeria’s Gross Domestic Product (GDP) growth forecast for 2020, saying it envisages that the economy will contract by 5.4%....
Large volumes of heavyweight stocks were dumped for sale at Wednesday’s trade session of the Nigerian equity market, heaping great pressure on the market capitalisation, which...
Oil prices slid on Wednesday, obliterating last session’s gains as concerns regarding a second wave of the coronavirus pandemic subdued support from a steady reopening of...
The World Bank has endorsed a $750 million loan through the International Development Association for Nigeria’s Power Sector Recovery Operation to transform the country’s power supply....
The Ministry of Aviation Tuesday received four certificates of compliance or Outline Business Case (OBC) certificates on the concession of four international airports’ terminals in the...
Deutsche Bank Luxembourg S.A. has completed a landmark US$3 billion Export Credit Agency (ECA)-backed hybrid corporate financing for Nigeria LNG Limited (NLNG) to develop the NLNG...
The Nigerian government has inaugurated a committee to review and evaluate the pricing framework of domestic gas in furtherance of its ambition to deepen the penetration...
The Senate on Tuesday blamed the Nigerian government for the insolvency currently witnessed in the nation’s power sector, noting that Ministries, Departments and Agencies (MDAs) owed...
The International Monetary Fund (IMF) has identified the major fiscal challenge faced by Nigeria as “its very low revenue” and not its debt burden. The multilateral...
The Nigerian bourse recorded further loss on Tuesday as investors lost N2 billion to sell-offs. Today’s negative performance hinged on profit-taking in blue-chip equities led by...
Naira strengthened marginally against the U.S. dollar at the Investors and Exporters (I&E) window of the foreign exchange (forex) market on Monday, closing at N386 to...
Thousands of Nigerians are requesting British judges to grant them liberty to sue Royal Dutch Shell Plc in London for environmental degradation caused by oil spills...
Oil prices steadied on Tuesday, following a turbulent session triggered by uncertainty over the fate of U.S.-China deal. Markets were upset by shocking comments from White...
The Nigerian Stock Exchange (NSE) has upgraded its Data Portal (X-DataPortal) to provide better, user-friendly experience and improved services for subscribers. Oscar Onyema, the NSE Chief...
The Federal Government has said it was reviewing the ban on interstate travels and would soon decide on lifting it. This was disclosed by the National...
Virgin Atlantic has unveiled plans to resume flights from Lagos to London’s Heathrow Airport on 24th August, 2020. The international carrier declared in a statement on...
The Nigerian bourse closed in the negative territory on Monday, extending the loss recorded at Friday’s session as investors lost N38 billion on the back of...
