FG facilitates $20m tech fund, N90bn agripreneur loan
To further drive its support for micro, small and medium enterprises (MSMEs), the federal government has facilitated a $20 million…
Category: Business
PoS transactions fall by 16%
Financial sector experts are divided over the 16 percent month-on-month, MoM, decline in the value of Point-of-Sale, PoS, transactions in…
Dangote Cement reports N201bn profit after tax
Dangote Cement Plc has posted a profit after tax of N200.521bn for the financial year ended December 31, 2019 as…
Shoprite selling property to pay for online, store upgrades
Shoprite Holdings Limited’s decision to sell some properties and lease them back is to free up cash to invest in…
Discos deny receiving subsidy from FG
Electricity distribution companies, under the aegis of Association of National Electricity Distributors, has said they had not received any subsidy…
Ondo targets N500bn investment through deep seaport project
ONDO State Governor, Rotimi Akeredolu, has said the development of a deep seaport project in the state will generate more…
Cash-Rich Berkshire Embraces the Idea of Life After Buffett
Warren Buffett waited until the very last page of his annual shareholder letter to reveal a big change: Shareholders will…
CSL Stockbrokers Appointed as New Stockbroker to the Federal Government
CSL Stockbrokers Limited, a subsidiary of FCMB Group Plc, has emerged as the new stockbroker to the Federal Government of Nigeria. The appointment of the firm, as…
Prepare for electricity tariff hike, TCN tells Nigerians
Nigerians should be prepared to pay cost-reflective electricity tariffs in order to enjoy the benefits of the liberalisation of the…
PwC predicts greater success for Nigeria’s entertainment industry
The PricewaterhouseCoopers (PwC) has projected Nigeria to be among the world’s fastest-growing Entertainment and Media (E&M) industry in the next…
SON faces resistance from importers of fake products
The Standards Organisation of Nigeria (SON) may have come under pressure from dealers of fake and sub-standard products following the…
Senate invites Bigi and Pepsi manufacturers, as stiff competition continues
Popular soft drinks manufacturers, Messrs 7-Up Bottling Company, makers of Pepsi, and Rites Foods Limited, makers of Bigi drinks were recently invited by…
Continued border closure not sustainable – MAN
The Manufacturers Association of Nigeria has said that the continued closure of the country’s land borders is unsustainable as many…
ICRC commends Sifax on concession agreement
THE Infrastructure Concession Regulatory Commission has commended the management of SIFAX Group for its level of compliance with the terms…
Shipping industry operators rally support for SON
THE leadership of the Association of Nigeria Licensed Customs Agents, ANLCA, has pledged to partner with the Standard Organisation of…
Petroleum products, bulk wheat dominate cargo throughput
REFINED petroleum products still dominate the nation’s import chart as over 316,247 metric tonnes of different refined petroleum products were…
Nigeria’s GDP forecast for 2020 to drop – IMF
The International Monetary Fund (IMF) has reviewed its projected GDP for Nigeria from 2.5% to 2% in 2020. The global lender…
AfDB to support agro-processing zones with $300m
The African Development Bank is to support the implementation of the Special Agro-Industrial Processing Zones project in Nigeria with $300m.…
Our tariffs up by 50% April 1 –Ikeja Disco
Ikeja Electric Plc says its tariffs will go up by 50 per cent beginning from April. The Disco disclosed this…
Salaries and wages commission develops five-year strategic plan
The National Salaries Incomes and Wages Commission has developed a five -year strategic plan to enable it to achieve its…
Uber, Bolt riders lament over high charges, as Okada ban persists in Lagos
The effect of the ban of commercial motorcycles in some key areas in Lagos is gradually creating holes in the…
Harmattan grounds foreign, domestic flights in Nigeria
Harmattan hays have caused flight cancellation and delay in the Nigerian Aviation sector grounding foreign airlines throughout the week. The harmattan has led…
BPE to raise N267bn from privatization of 20 coys
The Director-General of the Bureau of Public Enterprises, BPE, Mr Alex Okoh, has advised against re-nationalisation of the nation’s electricity…
NLNG achieves 83 percent of its Nigerianisation target
THE Nigerian Liquefied Natural Gas Company, NLNG has said that it has completed about 83 percent of its Nigerianization process…
Shell, NNPC lament over Nigeria’s electricity deficit
Gas producers, Shell and the Nigerian National Petroleum Corporation (NNPC) have lamented over the poor electricity supply in Nigeria despite the abundant…
Quality of local rice improves as food prices drop across major markets
The quality of locally-produced rice in Nigeria has recorded significant improvement in recent weeks, as the latest Nairametrics Household Survey revealed that…
Cargo diversion: Maersk, Safmarine deny dumping Lagos ports
CONTRARY to media reports, the world’s largest container carrier, Maersk and its sister company Safmarine have denied stopping their shipping…
SON shuts 13 steel factories over infractions
The Standards Organisation of Nigeria (SON) National Steel Task Force has sealed 13 steel factories across the country for standards…
Maersk, Safmarine deny dumping Lagos, as port challenges affect operations
Despite challenges affecting their operations in Lagos port, Maersk, the world’s largest container carrier, and Safmarine, a subsidiary of Maersk,…
New VAT regime, upward inflationary pressures are key economic headwinds – Cordros Research
Cordros Research has declared that the new Value Added Tax, VAT regime and persistent upward inflationary pressure are key economic…