The Central Bank of Nigeria (CBN) has imposed sanctions totalling N5.87 billion on four banks for wrongly assisting MTN Nigeria to repatriate funds. The banks allegedly...
The Minister of State for Petroleum Resources, Ibe Kachikwu, on Tuesday said there were no plans by Federal Government to sell its stakes in the Nigerian...
The Nigerian Electricity Regulatory Commission (NERC) said an average of 1,185 electricity complaints about various electricity services rendered by power distribution companies were made in the...
The nation’s foreign exchange reserves have dropped below $46 billion, available data from the Central Bank of Nigeria (CBN) showed on Wednesday. The reserves, which stood...
The Nigerian National Petroleum Corporation (NNPC) has said it would establish two condensate refineries at Western Forcados Area and Assah North Ohaji South (ANOH) Areas of...
The Federal Government has unveiled eight firms that will begin the exploration of minerals under the Integrated Exploration Project (IEP). The Minister of State for Mines...
No fewer than 40 million Nigerians in 200 communities across the country are being deprived access to the internet, the Nigerian Communications Commission (NCC) said on...
Following the interest rate hike by the United States Federal Reserve and the rising political uncertainties in Nigeria, the total foreign transactions at the Nigerian Stock...
The Federal Government said it was encouraged by the 2.05 percent growth in the non-oil sector for the second quarter of 2018. It noted that the...
The Federal Government has expressed willingness to involve Nigerians in the diaspora in its strides to develop the country’s economy. The effort, which is aimed at...
The Nigerian economy has slowed for the second consecutive quarter this year, indicating the nation may soon be heading for another economic recession. According to the...
Indications have emerged that the nation may soon begin to earn less from crude oil as the monthly volume of Nigerian oil imports into the United...
The Bureau of Public Enterprises (BPE), an agency of the Federal Government, has called for Expressions of Interest from prospective investors who are interested in buying...
The Central Bank of Nigeria (CBN) said the maximum credit issuable to agriculture, manufacturing, and other related sectors that are employment and growth stimulating to the...
Following the two-day holiday declared by the Federal Government to celebrate this year’s Eid-El-Kabir, the stock market resumed on Thursday on a positive note as equities...
Nigeria’s revenue from oil export hit an estimated $26 billion between January and July this year as the price of global oil benchmark, Brent crude, rose...
As part of measures to tackle rising poverty rate in the country, the Federal Governemnt said it had concluded plans to extend its Government Enterprise and...
A foremost African airline, Ethiopian Airlines, has signed an agreement with Zambia’s Industrial Development Corporation (IDC) to invest in the newly established Zambia’s national carrier, Zambia...
The total value of capital importation into Nigeria dropped by $790 million in the second quarter of 2018, the largest decline in more than two years...
President Muhammadu Buhari on Monday signed an Instrument of Accession to the International Cocoa Agreement (ICA), 2010. The pact was the seventh ICA adopted at the United...
A Federal High Court (FHC) sitting in Abuja has ordered Multichoice Nigeria Limited to halt any increase in its subscription tariffs. Three weeks ago, the satellite...
The staff strength in the nation’s banking sector rose by 12 per cent in the first half of 2018 from 90,923 staff recorded at the end...
Eaton Acquisitions Limited on Monday said it had completed the purchase of 130 million shares of NEM Insurance Plc. The cross deal sees Eaton, which was...
The electricity Distribution Companies (DisCos) in the Nigerian Electricity Supply Industry (NESI) have kicked against the Federal Government’s choice to engage the Transmission Company of Nigeria...
The Statistician-General of the National Bureau of Statistics (NBS), Yemi Kale, said the clashes between farmers and herdsmen slowed down the rate of growth in Nigeria’s...
The Central Bank of Nigeria (CBN) said it would support banks that fund projects in agriculture and manufacturing sectors by refunding Cash Reserve Ratio (CRR) at...
The Indian High Commissioner to Nigeria, Nagabhushana Reddy, said the trade value between India and Nigeria rose to $12 billion between April 2017 to March 2018....
Indications of possible blackout in the country have emerged as the electricity Generation Companies (GenCos) threatened to shut down their plants over recurrent directives by the...
The Federal Inland Revenue Service (FIRS) said the state governments have failed to remit Value Added Tax (VAT) worth N41 billion to the Federal Government’s coffers....
The Nigerian National Petroleum Corporation (NNPC) said the funding structure for the proposed Nigerian Petroleum Asset Management Company (NPAMC) in the Petroleum Industry Governance Bill (PIGB)...
Nigerians spend more than $1 billion on about four million medical treatments abroad each year, a new report by Deloitte has revealed. The report, titled “Invest...
The Ethiopian Airlines has faulted media reports that its Chief Executive Officer (CEO), Tewolde Gebremariam, said the airline company was the frontrunner to manage Nigeria’s new...
Nigeria’s dependence on the oil sector as its major source of foreign exchange earnings was responsible for the country’s high unemployment rate, a former United Nations...
The Federal Government bond auction for August 2018 aimed at funding capital expenditure in the 2018 Budget was oversubscribed on Wednesday, the Debt Management Office (DMO)...
Governor Nasir El-Rufai of Kaduna State, has presented the 2019 budget proposal to the state house of assembly, becoming the first governor in the country to...
The Central Bank of Nigeria, CBN, has said importers of substandard products will not be accommodated in the currency swap agreement it signed with the People’s...
A Presidential aspirant of the Abundant Nigeria Renewal Party (ANRP) in the 2019 general elections, Tope Fasua, says he would raise Nigeria’s budget to N20 trillion...
Nigeria’s inflation rate has dropped in July for the 18th consecutive time, the National Bureau of Statistics (NBS) has said. In the July inflation report by...
The headquarters of the Transmission Company of Nigeria, TCN, has been sealed by the Federal Inland Revenue Services (FIRS) over unremitted taxes. Reports say workers of...
The Minister of State for Aviation, Hadi Sirika, has faulted the claim by the Chief Executive Officer (CEO) of Ethiopian Airlines, Tewolde Gebremariam, that the airline...
The Nigerian National Petroleum Corporation (NNPC) has announced plans to relocate a brownfied refinery from Turkey to Nigeria. The refinery, which is expected to be sited...
The nation’s debt profile has risen to N22.38 trillion within the last six months, the Debt Management Office (DMO) has said. The current debt profile indicates...
The Federal Government through the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) said it had disbursed $373 million to farmers in the past year...
The return of oil prospecting giants, Shell to Ogoni land after the renewal of its OML 11, may suffer stiff resistance as the Movement for the...
Contrary to the position of the Executive Director, Research and Advocacy, Association of Nigerian Electricity Distributors (ANED), Sunday Oduntan, on meter supply, the Federal Government has...
Power generation in Nigeria dropped by 777.8 megawatts on Monday, the latest data from the Ministry of Power, Works and Housing has shown. The plunge in...
Following last week’s bearish performance at the Nigerian Stock Exchange (NSE) which saw the benchmark index of the NSE, the All Share Index, decline by 2.85...
In a bid to bridge the projected medium-term gas supply gap expected by 2020, the Nigerian National Petroleum Corporation (NNPC) and Seplat Petroleum Development Company (SPDC)...
The Minister of Power, Works and Housing, Babatunde Raji Fashola, has blamed electricity distribution companies for the poor state of power in the country. The minister,...
The Lagos state Government said its Blue Light Rail project which will run between Mile 2 and Marina would commence operation in the next four years....
