External debt servicing gulps $1.08bn in nine months — DMO
The Federal Government spent a total of $1.08bn (N400.90bn) on external debt servicing between January and September 2019. Data obtained…
Month: February 2020
Non-oil export earnings fall by 37.8%
Earnings from non-oil exporters fell by 37.8 per cent in the last quarter of 2019, the Central Bank of Nigeria…
Ministers, agencies working at cross purposes, advisers tell Buhari
The Economic Advisory Council of the President, Major General Muhammadu Buhari (retd.), has identified the lack of “synergy” between Ministries,…
FCMB Deepens Empowerment of SMEs in Ogun State, as First Lady Commends Bank
First City Monument Bank (FCMB) has restated its commitment to the productivity and profitability of Small and Medium Scale Enterprises…
Warner Music set for US stock market flotation
Warner Music Group, home to a host of stars including Ed Sheeran and Katy Perry, plans to sell shares in…
Ghana goes after former Finance Minister over bank collapse, industry crisis
Ghana is coming after its former Finance Minister, Kwabena Duffuor, for his role in the activities that led to the…
Fidelity Bank appoints new Non-Executive Director
Fidelity Bank Plc has appointed Alhaji Isa Mohammed Inuwa as an Independent Non-Executive Director. The appointment, which has been approved…
Apple watch outsells entire Swiss watch industry
The Apple Watch wasn’t just the best-selling smartwatch last year, but also put the Swiss watch industry to shame, according…
US tasked to buy stakes in Nokia, Ericsson to battle Huawei
The tenuous relationship between the United States and the Chinese telecommunication giant, Huawei is about to take a new turn.…
Okada ban: Gokada plans to offer logistics, boat services
Ride-hailing service, Gokada doesn’t look at ditching its brand, even after being banned from operating alongside other commercial motorcycles (Okada)…
7.5% VAT on voice calls, SMS: Direct your anger to FIRS ― Pantami
The Minister of Communications and Digital Economy, Dr Isa Ibrahim Pantami says the issues of VAT, does not fall under…
Nigeria’s revenue problem worries foreign investors — Khan
Foreign investors are worried about the low level of government revenue in Nigeria and the implication for the country’s ability…
FG plans clampdown on illegal LPG marketers
The Federal Government, yesterday, set a two-month deadline for marketers and dealers of liquefied petroleum gas, LPG, also known as…
Mining to contribute 3.0% to GDP by 2025
Yesterday, at the Mining Indaba conference held in Cape Town, the Nigerian Minister for Mines and Steel Development, Olamilekan Adegbite…
Debt exceeds revenue in 36 states, FCT, says FRC
All the 36 states of the federation contravened the guidelines of the Debt Management Office by contracting debts exceeding their…
N1.5tn revenue target for Customs too high — Stakeholders
Stakeholders have faulted the government for setting revenue target of N1.5tn for the Nigeria Customs Service this year. They insisted…
Berger Paints, Lagos govt in partnership talks
Berger Paints Plc has revealed plans to enter into a strategic partnership with the Lagos State Government on infrastructural projects.…
FG to reform business, land registration processes
The Presidential Enabling Business Environment Council has introduced its fifth National Action Plan aimed at rapid implementation of reforms for…
Elon Musk’s wealth rises by $13bn as Tesla hits stock boom
Elon Musk is charging up his fortune. The Tesla chief’s net worth has grown more than any other billionaire’s so…
Subscribers may no longer have access to more than three phone lines
An individual may no longer be able to own more than three phone lines going by a directive handed down…
Fish importation to stop in 2022 – FG
Fish importation will stop in 2020, the Federal Government has assured. It said it would encourage local fish production to…
Coronavirus: Ethiopian undertaking all China flights, Nigeria issues advisory
The air travel impact of the raging corona virus is hitting home here in Africa with two major developments from…
How some experts are explaining Tesla’s insane stock
Tesla (TSLA) shares continued their mind-bending rally on Tuesday. After gaining almost 20% on Monday, the stock rallied another 13.73%…
Wall Street recovery continues on China stimulus measures
The Nasdaq hit a record high on Tuesday and the S&P 500 posted its biggest one-day gain in about six…
Dangote tomato company resumes production in Kano
The Dangote Tomato Processing Company, Kadawa, says it has recruited no fewer than 100 skilled and casual workers ahead of…
Nigerian Breweries to raise N45bn from commercial papers
Nigerian Breweries has revealed plans to raise N45bn from its commercial paper issuance. The company announced the launch of Series…
Nasdaq cuts gains as Tesla shares plunge
A plunge in Tesla shares spoiled some of the market’s comeback rally on Wednesday, pushing the Nasdaq Composite well off…
Fund of funds, missing link in Nigeria’s mutual fund industry
The Nigerian mutual fund industry has come a long way. From one fund with less than N20 million in 1991…
NAHCO reacts to $8.06 million intercepted by Customs at Lagos Airport
The Nigeria Customs Service disclosed on Tuesday that it intercepted $8.06 million at the Murtala Muhammed International Airport, Lagos from…
Currency in circulation increases by N240 billion in one month
The currency in circulation increased by N240 billion between November and December 2019. This was stated in the Central Bank…