The relative improvement of power supply in Nigeria in the past one month may soon be hampered if the federal government fails to assist the power distribution companies (Discos) to pay$325 million and $1.25 billion debts they owe local and foreign institutions respectively. Most of the loans were secured to...
The Nigerian Communications Commission, NCC, has said it has discovered 41 companies providing internet/data services in the country without authorisation. The NCC stated this in its...
In its readiness to return to full operations in Nigeria, Total E&P Nigeria has announced the appointment of Mr. Francois Le-Cocq as Deputy Managing Director, Port Harcourt District. He succeeds Mr. Nicolas...
Records from the statistics unit of the Organisation of Petroleum Exporting Countries (OPEC) has indicated that Nigeria’s crude oil production suffered further drop in the month of August, compared with increased figures among its categories at the same period. OPEC’s monthly oil market report for September, which was...
A former minister of Finance, Dr. Ngozi Okonjo Iweala has proffered suggestions on how African countries, Including Nigeria can overcome the economic challenges they currently face....
Facts have emerged that major and independent marketers in the country are owing the Federal Government about N86.4bn as at July 2016. According to reports, a...
Despite its claim of diversifying its economy, Nigeria still spends about $4.42 billion, yearly, importing foreign fabrics into the country, a situation that has negatively affected the growth of local industries. Shedding more light...
The Central Bank of Nigeria, CBN, has said that customers of Microfinance Banks, MFBs and Primary Mortgage institutions, PMIs, would be required to undergo Bank Verification...
The Nigerian Communications Commission, NCC, said it has issued a final warning to telecom operators over unsolicited text messages and calls to subscribers in the country....
On Wednesday August 31, the National Bureau of Statistics (NBS) released official Gross Domestic Product (GDP) figures for the second quarter of 2016, confirming that the...
Nigerians may be in for worse times in the months to come, as the Minister of State for Agriculture and Rural Development, Senator Heineken Lokpobiri, Saturday,...
The Federal Government has said it would be setting aside another N500bn for its social intervention programs for 2017 budget. The move by the federal government,...
Even if other stakeholders accept government planned concession of its airports, workers of the Federal Airport Authority of Nigeria (FAAN) have vowed to sustain their resistance of the move. The federal government had at the weekend inaugurated the committee to fine...
The Nigeria banking sector suffered more than 50 percent loss in its overnight interbank lending rate on Friday as a result of maturity of Central Bank...
The Federal Government, has, despite protests by aviation workers, kickstarted the process of concessing major airports in the country. The seriousness of government’s decision on the...
Nigeria economic meltdown has seen operators in its telecommunications sector losing more than 60 million lines at the end of second quarter of 2016, according to...
Tension seems to have gripped policy makers and other stakeholders over what might be the position of Nigeria in the next inspection visit of the aviation...
Abundant rainfall in 2015, and early part of 2016, plus other inputs have soared cocoa production level of Ivory Coast over other countries in West Africa....
Downstream oil major, Conoil Plc, on Thursday announced that it would be distributing N2.08 billion as cash dividends to shareholders for the 2015 business year, sending...
The modest recovery that started on Wednesday at the Nigerian stock market widened on Thursday as the release of audited report by oil major, Conoil, enlivened...
Apparently bowing to various pressures, Nigerian government has resolved to shun foreign loans in preference to sourcing about N2.23 trillion through internal sources for funding the...
Domestic airlines in the country are at risk of extinction, unless the federal government urgently pumps intervention funds into them, airline operators have said. The operators...
Following signs that peace will soon return to the Niger Delta region, major oil and gas companies in Nigeria with operations in downstream and upstream activities have begun assessment of the actual cost of the crisis on their damaged faculties, according to an investigation. So far, an...
After three successive negative trading sessions, bargain-hunting transactions for large-cap stocks helped the overall market position at the Nigerian Stock Exchange (NSE) to its first positive...
The Federal Government and oil marketers, Wednesday, said there is no truth in rumours making the round over an imminent increase in the pump price of...
The Vice-President, Yemi Osinbajo has revealed that the nation has been losing about 1 million barrels of crude oil per day in the last six months...
For the third consecutive trading session, Nigerian equities continued on the downtrend on Tuesday as more investors sought to monetize their shareholdings, piling pressure on the...
There is a seeming crack among federal government officials as to the wisdom of repeating the sum of N500 billion in the 2017 budget for feeding...
A fresh condition has been attached to the ongoing efforts aimed at finding lasting solution to the crisis rocking the oil producing region of the Niger...
The Cross River state government is set to float its own airline in November, Governor Ben Ayade has revealed. This is coming at a time the...
The Central Bank of Nigeria, CBN, has threatened to sanction Deposit Money Banks, DMBs, frustrating its intervention in the power sector through the Nigeria Electricity Stabilisation...
Quoted equities reopened on Monday with renewed profit-taking transactions as investors sought to lock in profits from last week’s surge in share prices. The sell-off, especially...
The Nigerian National Petroleum Corporation (NNPC) has raised a fresh alarm, drawing attention to activities of militants in the Niger Delta region of the country. It...
First Nation Airways, one of the local airlines that announced winding down operations in Nigeria, due to economic meltdown, has made a u-turn saying it will now resume operations before September 15, 2016. The airline Monday morning in a statement signed by its Corporate...
Despite government promise, Nigeria has been recording a sharp decline in revenue from the non oil sector between the first and second quarters of 2016. Reports from a nongovernmental organisation, Intelligence Watch, at the weekend said about $1.02billion revenue-loss was...
The inability of Nigeria to put a total stop to gas flaring has seen the country losing an average of $692.66 million annually from flaring an average of 224. 22 billion standard cubic feet (SCF) of the product. For an economy in recession, this...
Nigerian equities brushed through midweek scare of weak macroeconomic data to record net capital gains of N107 billion in the past five-day trading week, broadly in...
The Consumer Protection Council (CPC) is launching investigation into the operations of Resort Savings and Loans (RSL) Plc, a Lagos-headquartered mortgage bank, over several allegations of...
Nigeria may be compelled by the prevailing economic recession to review some capital projects, as listed in the 2016 budget. This is in preference to railways projects, estimated to cost $5.13 billion according to an investigation....
Nigerians may be out for another cycle of fuel scarcity as the shortage of dollars has started having its toll on fuel importation by the Nigerian...
Babatunde Raji Fashola (SAN), Minister of Power, Works and Housing, has said that Federal Government’s expectation to ensure there is inclusion and employment with the N6.6...
Moody’s, the global rating agency, has predicted a further rise in the already historic high in the nation’s inflationary rate to 18 per cent. According to...
The latest report of the National Bureau of Statistics, NBS, has shown that Lagos State is the highest in the list of states with external debts...
The presidency has fully acknowledged that the Nigerian economy is in shambles, but is also optimistic that it can be fixed. The Presidency however warned that...
The Federal Government has intervened in the plight of workers of Aero Contractors who were sent home by the airline on indefinite leave. Minister of State...
The African development Bank (AfDB) is to spend $12 billion in budget support for infrastructure projects on energy in some African countries, including Nigeria in the...
The Peoples Democratic Party (PDP), has refused to be cowed on its position that President Muhammadu Buhari is incompetent and cannot pull Nigeria out of the...
Nigerian equities sustained the third consecutive uptrend on Thursday as increased investors’ appetite pushed the market to its best performance in more than two months. ...
Governor of Jigawa state, Abubakar Badaru has absolved former President Olusegun Obasanjo of any blame over the economic recession that has hit Nigeria. He however declared...
About twenty four hours after a major airline company in Nigeria, Aero Contractors suspended its operations, another one has followed suit. The Nigerian Civil Aviation Authority...
