Indications emerged on Thursday that the new petrol price of N125 per litre announced on Wednesday might be reconsidered in less than two weeks. The Petroleum...
The International Air Transport Association (IATA) has noted that the far-reaching economic impact of COVID-19 could cost the aviation industry as much as $434 million (around N159.278...
The House of Representatives Thursday issued a notice, inviting the Chief Executive Officers (CEOs) of some telecommunication firms in the country to appear before it in...
Profit-taking efforts in bellwether stocks across the banking, industrial, telecoms and ICT sectors Thursday caused the market to record tremendous loss, easily reversing the modest gain...
The House of Representatives said on Thursday it would investigate the Central Bank of Nigeria (CBN) Anchor Borrowers Programme over non-recovery of N81.5 billion from companies....
After more than three and a half hours of intense deliberations Wednesday, the monthly Federal Account Allocation Committee (FAAC) meeting came to a halt without resolution...
The Federal Government, through its National Electrification Project (NEP), has brokered a deal with the African Development Bank (AfDB) intended at curbing severe power generation challenges...
One of Nigeria’s foremost airlines, Arik Air, on Wednesday, suspended its flight services to all West African destinations following the continued spread of coronavirus. According to...
The Federal Government on Wednesday cut the 2020 Budget by N1.5 trillion. President Muhammadu Buhari presented the 2020 budget of N10. 59 trillion to the National...
The Central Bank of Nigeria on Wednesday announced a N1.1trillion intervention fund to support critical sectors of the economy. The CBN Governor, Godwin Emefiele, who disclosed...
Following days of losing spell, the Nigerian Stock Exchange (NSE) rallied on Wednesday, posting gains in the neighbourhood of N128.494 billion. Only the Banking Index and...
President Muhammadu Buhari on Wednesday approved the reduction in pump price of Premium Motor Spirit (PMS) from N145 per liter to N125. The President gave the...
The latest quarterly report of the Nigerian Electricity Regulatory Commission (NERC) has revealed a wide metering gap among electricity users with 59.74% of the consumer population...
The exchange rates of the US Dollar hovered between N365 and N369 at the Bureau de Change segment of the market on Tuesday. Owing to the...
The Presidential Economic Advisory Council (PEAC) on Tuesday at its meeting with President Muhammadu Buhari recommended reduction in budget size and widening of the nation’s revenue...
Investors lost about N84.487 billion on the Nigerian equity market today, largely due to heavy sell pressure on industrial goods stocks, which outweighed the volume buyers...
Nigeria’s annual inflation rose to 12.20% in February, making it the sixth month in a row the figure would escalate, the National Bureau of Statistics declared...
The Nigerian Electricity Regulatory Commission (NERC) has declared that the accumulated bill of the power supplied by Nigeria to its West African neighbours – Benin, Togo...
Gas flaring activities among oil and gas firms cost Nigeria N521.9 billion (around $1.7 billion) in 2019, the latest statistics by the National Oil Spill Detection...
The global oil market may be right at its darkest hour as oil prices plunged below $30 per barrel on Monday. Governments around the world are...
The Minister of Finance, Zainab Ahmed, said on Monday the Federal Government may suspend its $22.7 billion external borrowing plans due to current realities in the...
The Central Bank of Nigeria (CBN) on Monday reduced the interest rates in all its intervention facilities from 9 percent to 5 percent per annum for...
Today’s trade ended on the Nigerian Stock Exchange (NSE) with the market reversing nearly all the gain it made last Friday and slipping back to the...
The downturn in the equity market has not yet abated with stocks losing 13.49% in value and the All Share Index (ASI) declining at the same...
The Central Bank of Nigeria (CBN) is contemplating a downward review of the lending rate as a buffer against the current economic austerity and as a...
The latest audit report on the Nigerian solid mineral sector, released on Sunday, puts the revenue generated from the industry at N69.47 billion in 2018. According...
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...
Between 20th January and 13 March 2020, the Nigerian stock market shed N3.457 trillion, shedding an incredible 22.6% of its value in less than 8 weeks. Specifically,...
Between 1st January and 12th March this year, Nigeria’s external reserves shed the sum of $2.43 billion (about N888.165 billion) in value, data from the Central Bank of...
Nigeria-based Jet Motor Company has announced an ambitious plan to radically alter the country’s mobility space with its soon-to-be launched all-electric cars. Ripples Nigeria can authoritatively...
The Nigerian bourse rallied marginally today after successive days of heavy losses running into trillions of Naira. There has been massive trading in bank stocks in...
The downtrend in the international oil market deepened early Friday with oil prices falling for the third straight day, setting in motion the biggest weekly drop...
The Naira slumped in value against the dollar on Thursday, exchanging for between N405 and N420 at Bureaux De Change (BDC) in the country. The persistent...
The Central Bank of Nigeria (CBN) on Thursday dismissed reports on the impending devaluation of Naira, saying the speculation by unscrupulous players in the foreign exchange...
The bear run in the Nigerian bourse continued today as sell pressure on blue-chip equities caused key performance indicators to close in the negative territory. A...
Billionaire mogul, Aliko Dangote, will launch a foray into crude oil production come July this year, a feat that will mark the latest addition to an expanding...
Panic selling on a large scale not only caused the market capitalisation of the Nigerian equity market to go slimmer today, setting in motion a total...
The contribution of the telecommunications industry to the Nigerian economy is above N6 trillion on quarterly basis, Umar Dambatta, the Executive Vice Chairman of the Nigerian...
A total of 697 illegal migrants have been apprehended while smuggled goods estimated at N7.4 billion have been confiscated seven months after the partial closure of...
The nation’s spending on importation of petrol plummeted to N1.713 trillion in 2019, data released by the National Bureau of Statistics (NBS) on Tuesday have shown....
The Ministry of Industry, Trade and Investment in conjunction with the National Automotive Design and Development Council (NADDC) has commissioned has commissioned $1 billion (about N360...
The Naira is currently at the mercy of two economic catastrophes: the ceaseless plunge in oil prices triggered by the untameable COVID-19, and the nation’s shrinking...
Indications emerged on Monday that the African Development Bank (AfDB) had endorsed an outlay of $200 million (around N61.2 billion) for Nigeria to develop its decrepit...
Massive profit-taking especially in blue chip equities led investors to dump large volumes of shares for sale today as the market shed N328 billion. A negative...
President Muhammadu Buhari on Monday set up a committee headed by the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, to assess the impact...
Last week, the Nigerian bourse rallied on Wednesday and Thursday after maintaining a losing streak for days. However, all the key market performance indicators closed in...
Global ratings agency, Moody’s, has in its latest review of the 2020 economic outlook for South Africa slashed its growth forecast from 0.7% to 0.4%. The...
Dangote Industries Limited on Sunday promised that its ongoing subsea gas pipeline project would on completion, cut the amount of flared gas in the country considerably...
Nigeria may be heading for its second recession in nearly four years after crude oil prices crashed to $30 per barrel in the international market. The...
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...
