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%....
The Federal Executive Council (FEC) on Wednesday approved N2.3 trillion stimulus package to support the Nigerian economy in the face of the disruptions and challenges of...
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 government on Monday declared that it would conduct a simulation trial of domestic flight operations at the Murtala Muhammed Airport in Lagos on Saturday...
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...
The Economic Community of West African States (ECOWAS) on Monday endorsed the candidacy of Nigeria’s former Minister of Finance and Coordinating Minister of the Economy, Dr....
The Nigerian Communications Commission (NCC) will on Tuesday unveil a five-year (2020-2025) Strategic Management Plan (SMP) in line with the objective of creating a seamless strategy...
Last week, equity investors lost about N185.674 billion due to intense profit-taking, raising the year-to-date return of the Nigerian Stock Exchange to -7.51%. We have selected...
Oil prices weakened on Monday over worries that a record increase in coronavirus cases globally might halt a rally in fuel demand, outweighing tighter supplies from...
Power distribution companies (Discos) on Sunday blamed the outrageous import duty on meters, imposed by the Nigerian government, for the low metering of electricity users in...
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 enrolment for a new set (Batch C) of N-Power beneficiaries will kick off on 26th June, the Nigerian government declared Friday. The online portal for the...
The Nigerian equity market contracted further on Friday as profit-taking especially in Dangote Cement, Okomu Oil and Guinness caused investors to lose N55.640 billion. A negative...
The Central Bank of Nigeria (CBN) has mobilised N216 billion ($598 million) from 26 banks with excess cash holdings as part of strategies to shore up...
Oil rose past $42 a barrel on Friday, increasing the gains recorded at the last session, after OPEC producers and allies agreed to meet supply cuts...
Nigeria’s total borrowing from China at the end of March stood at $3.121 billion (N1.127 trillion at N361/$), the Debt Management Office (DMO) has said. In...
The Minister of Mines and Steel Development, Olamilekan Adegbite, has said the Nigerian government has prioritised seven of the country’s strategic minerals to harness the potential...
The Central Bank of Nigeria (CBN) Thursday said it would fund the value chains of nine agricultural commodities with N432 billion during the 2020 wet planting...
The Nigerian equity market closed on a negative note on Thursday as negative sentiment caused investors to lose N20.561 billion. The market posted a negative breadth...
The International Finance Corporation (IFC), a member of the World Bank Group, Thursday announced an investment in the sum of $100 million in Zenith Bank Plc...
Oil prices edged up on Thursday after a drop in U.S. oil product stocks, paving the way for further rises ahead of a meeting between the...
The Lagos State Governor, Sanwo-Olu, has declared that the state is developing measures to mitigate the impact of the coronavirus pandemic on the Micro, Small and...
Naira fell 6.2% lower against the United States dollar on Wednesday at the official market as traders quoted the local currency close to the over-the-counter spot...
