Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market, mainstream business activities...
Mr Roland Ewubare, the Chief Operating Officer, Joint Ventures and Business Development, Nigerian National Petroleum Corporation (NNPC) has resigned from the national oil company. Although, the...
Shell and Eni knew that a portion of the fund used to acquire a Nigerian oilfield in 2011 would be set aside for corrupt payments to...
Higher sell pressure was evident in market activities this week with investors taking several profit-making moves that weighed on the value of stocks. The bourse recorded...
For the second straight day running, the Nigerian stock market recorded loss on Friday as the volume of equities put up for sale, particularly mid-cap stocks,...
Pan Ocean Oil Corporation Limited, whose entire assets have been confiscated amidst a stormy dispute over a N240 billion accumulated debt, has condemned the Asset Management...
Nigeria’s monumental debt burden hardly seems to ease, not only because the nation’s inclination to borrow for virtually every reason has risen with the passage of...
The Nigerian government committed N609.135 billion to servicing its debts in the first quarter of this year, the debt office has said. The debt status statistics released by...
Nigeria’s foreign reserves slumped from $36.57 billion to $36.2 billion in the period between 1st and 29th June, equivalent to a depletion of $373.23 million, data...
The International Air Transport Association (IATA) Thursday declared that Airlines in Nigeria suffered $2.09 billion slump in revenue in April and June as carriers in the...
The Nigerian stock market slid into loss Thursday after recording modest gain in the previous session due to profit taking actions in some mid-cap and large-cap...
Chinese-backed fintech player OPay has reportedly shut down its venture across all verticals in Nigeria, given the notorious effect of the covid-19 pandemic. The company though,...
The Nigerian National Petroleum Corporation (NNPC) might end up being the major importer of fuel in the country as petroleum products marketers in the country confront...
Oil prices climbed further on Thursday, cancelling losses recorded early in the session as a steep fall in crude stockpiles overrode fears that an upsurge in...
The African Development Bank (AfDB) said it had commissioned a body of three people to undertake an independent assessment of the report of the ethics committee...
South African petrochemical firm, Sasol, Wednesday declared its intention to sell off its indirect interest in the Escravos Gas-To-Liquids (EGTL) asset in Nigeria to Chevron. The...
U.S. International Development Finance Corporation (DFC) Wednesday announced it had committed $530 million to projects in the Nigerian financial, agriculture and health sectors as well as...
Nigerian banks face a foreign exchange funding gap that could reach up to $5 billion on account of currency shortages from dwindling oil revenue, poor remittances...
The Minister of Aviation, Hadi Sirika, said on Wednesday domestic flight operations would resume at the various airports across the country on July 8. Sirika, who...
The equity market recovered on Wednesday after slipping into the negative territory at the previous session as surging interest in industrial stocks aided improvement in the...
The Petroleum Products Pricing Regulatory Agency (PPPRA) on Wednesday announced a new price band for Premium Motor Spirit (PMS) also known as petrol. In a circular...
The quality of fuel imported into Nigeria is so dirty that it cannot be sold in countries with “higher and better-implemented standards,” a report has claimed....
Oil prices edged up on Wednesday, buoyed by higher industrial activities in China and notable reduction in U.S. oil storage, consecutively pointing to an economic rebound...
Aviation unions on Tuesday resisted the proposal by the Federal Ministry of Aviation to concession four internatiobal airports in the country namely the Murtala Muhammed International...
The Presidential Economic Advisory Council (PEAC) has urged the Nigerian government against the continued implementation of multiple exchange rates by adopting a unified currency rate regime...
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...
Renowned investment banker, Atedo Peterside, has resigned as Chairman of the Board of Directors, Cadbury Nigeria Plc. The Company Secretary, Mr. Fola Akande, disclosed this in...
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...
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market, mainstream business activities...
The Nnamdi Azikwe International Airport, Abuja reopened for business on Saturday after closing down for nearly three months with passengers carefully screened in accordance with COVID-19...
The Nigeria Customs Service (NCS) has destroyed 10,000 kilograms of cannabis valued at over N1 billion in Lagos. Olugboyega Peters, the Comptroller I of the Western...
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 Federal Airports Authority of Nigeria (FAAN) said on Friday it would increase the passenger service charges on domestic and international flight tickets by 100 percent...
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...
