The Nigerian power sector incurred losses totalling N65.56 billion last month owing to challenges ranging from inadequate gas supply to poor distribution and transmission facilities, data...
Capital outflow of more than $4.2bn has been lost by Nigeria and some other sub-Saharan Africa countries since the end of February as a result of...
The bull run entered its fifth day Wednesday in the Nigerian bourse, primarily driven by bargain hunters’ preference for blue-chip equities in the industrial, banking, and...
Global airline passenger revenues will contract by $314 billion in 2020, a 55% plunge relative to the 2019 figure. The International Air Transport Association (IATA) said Tuesday in...
Applications numbering over 80,000 have been received by the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) from individuals and businesses for the central bank’s...
A surplus of Nigerian crude weighed on the international oil market on Tuesday with lower demand from China than in the past couple of weeks. Nigeria...
The Central Bank of Nigeria (CBN) has introduced a number of measures and strategies targeted at building a more resilient and more self-reliant national economy in...
The Ministry of Humanitarian Affairs, Disaster Management and Social Development has said the 500,000 N-Power enrollees across the country would begin getting their monthly entitlements from...
Resuming from a 2-day Easter holiday, the Nigerian stock market appreciated by N258.451 billion on Tuesday, marking the fourth daily gain in a row. Today’s positive...
The International Monetary Fund (IMF) Tuesday forecast that Nigeria’s Gross Domestic Product (GDP) would contract by 3.4% in 2020 after expanding by 2.2% last year. In...
1. Households with verifiable evidence of livelihood adversely impacted by COVID-19 are eligible. 2. The credit is also available to enterprises with verifiable evidence of business...
With the growing cases of the Coronavirus in Nigeria after the first case was reported on February 27, the government started taking measures to combat the...
Bank accounts totalling 300,000 were abandoned by Nigerian bank account holders in the first quarter of 2020, the latest statistics from the Nigerian Interbank Settlement Scheme...
In reaction to the current crisis induced by the COVID-19 pandemic, the Lagos Chamber of Commerce and Industry (LCCI) has expressed worries about economic sustainability and...
The International Monetary Fund (IMF) on Monday granted debt relief to a group of 25 countries largely dominated by African nations. It identified the beneficiaries as...
The Central Bank of Nigeria (CBN) said on Monday it did not charge any fee on COVID-19 loan application as claimed by reports. The CBN’s Director,...
The Nigerian bourse demonstrated signs of recovery last week with the market recording three days of gain in a row out of the four trading sessions....
The Financial Reporting Council (FRC) has issued a directive to external auditors to embrace procedures other than the normal ones in obtaining audit proofs so as...
Rallying from the immediate dip that happened after the historic production cut deal between the Organisation of Petroleum Exporting Companies (OPEC) and its Russia-led allies, oil prices inched...
Operators in the downstream sector have said the pump price of gasoline might fall for the third time in barely three weeks if other operators towed...
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...
There is a massive possibility that 82% of corporate organisations in Nigeria will have their revenues contract in the wake of the coronavirus outbreak. Data gleaned...
Nigeria’s erstwhile Minister of Finance, Ngozi Okonjo-Iweala has been appointed member of the New External Advisory Group of the International Monetary Fund by Kristalina Georgieva, the...
Some local airlines in the country have declared an extension of their flight operations after lockdowns were imposed by many state governments in order to contain...
Micro credits adding up to N5 billion will be disbursed to 500,000 traders in Nigeria in few weeks as government’s financial response against the impact of...
The likelihood is huge that market confidence is gradually increasing with three consecutive days of gain experienced Tuesday through Thursday. There were no activities on Friday...
Nigeria has allied itself with the Organisation of Petroleum Exporting Countries (OPEC) to reduce global crude oil production by 10 million barrels per day (bpd) between...
The hope of Nigerians enjoying two months of free electricity supply may have been dashed, as the Ministry of Power on Friday denied reports making rounds...
Shell Petroleum Development Company of Nigeria has announced that unforeseeable circumstances are threatening its exportation of Forcados crude oil following “a shutdown by the pipeline’s operator,” a...
The banking industry will post lower profits this year due to the ravaging impact of the coronavirus pandemic, business intelligence and rating agency, Agusto & Co, has...
Oil prices plunged Thursday by as much as 12% as the deal to cut global production by 10 million barrels per day (bpd) failed to wow...
Gains in large-cap equities led by Nestle and Seplat ushered the Nigerian bourse into its third day of bull run on Thursday. Bargain hunting has been...
Sub-Saharan Africa’s Gross Domestic Product (GDP) will encounter contraction of between 2.1% and 5.1% in 2020 and slide into recession, its worst show in a quarter...
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has stated that the N457 billion planned for subsidy payment in the 2020...
Nigeria and other regional member nations will get emergency credit of up to $10 billion from the African Development Bank (AfDB) to battle COVID-19. Akinwunmi Adesina,...
The Nigerian government said it would close operations at state-owned refineries temporarily as part of plans to obtain funding and a model to upgrade the facilities....
The Nigerian bourse sustained the fairly positive performance it recorded Tuesday at the end of Wednesday trade with all the key performance indicators ending towards the...
The Nigerian government Wednesday reviewed its proposed capital spending for 2020 downward by N312 billion. The cut in the capital projects figure of the 2020 budget...
The suspension of the subsidy regime on petroleum products announced by the Nigerian National Petroleum Corporation (NNPC) two days ago would not be seamlessly implemented except...
Nigeria’s application for a $3.4 billion credit from the International Monetary Fund (IMF) is currently under review. “We are working hard to respond to this request...
The World Bank Tuesday announced it had given Nigeria medical support in the sum of $82 million, its own bit of global institutions’ assistance to nations...
FBN Holdings Plc – the parent company of Nigeria’s oldest bank, First Bank of Nigeria Limited –Tuesday announced it would pay a dividend of N0.38 per share...
The steep decline in activities that have dominated the market in the last couple of days reached a new low Tuesday with Trade Volume tumbling by...
Cement maker, Lafarge Africa Plc, has declared a Profit After Tax of N115.104 billion for Full Year 2019 relative to a Loss After Tax of N8.802 billion...
American credit rating agency, Fitch Ratings Incorporated, Monday lowered Nigeria’s Foreign Currency Issuer Default Rating (IDR) to ‘B’ from ‘B+’ and consequently assigned a negative outlook to the...
The Nigerian National Petroleum Corporation (NNPC) has declared that the subsidy regime in petroleum products pricing is over. “Subsidy and under-recovery are zero today and it...
The market posted one of its biggest single day losses this year on Monday, shedding about N221.615 billion as negative sentiment remained rife. Profit-taking in industrial...
As a measure to shore up its weakening fiscal base and mitigate shocks from the coronavirus pandemic, the Nigerian Government said Monday afternoon it had approached...
Africa’s largest oil producers, Nigeria and Angola, may lose $65 billion of their income to the harsh, monumental impact of the coronavirus pandemic in 2020, an...
Dangote Cement Plc has declared its intention to generate capital of up to N100 billion from the public through corporate bond. Nigerian largest company by market value...
