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Business news

Month: December 2016

Nigerian Stock Exchange: transactions upbeat, up by 0.98%

Amaka Obiefuna. The Nigerian equity market on Tuesday re-opened transactions after the public holiday to mark Eid-el-Maulud celebration on a positive trend as market indices grow by 0.98 per cent. The All-Share Index gained 253.47 points to close at 26,071.16 compared with 25,817.69 achieved on Friday. Similarly, the market capitalisation rose by N87.21 billion to […]

Study shows Agriculture as biggest employer of labour in Nigeria

Fidelia Okafor. A General Household Survey of Nigeria shows that the agriculture sector is the largest employer of labour and income-generating activity in Nigeria. The study, which contains information on household socio- economics in the country, was launched by the World Bank Living Standards Measurement Study in collaboration with the National Bureau of Statistics on […]

Dubai woman delivers baby after frozen ovary retored

Winifred Bosa. A woman has given birth after surgeons restored her fertility by implanting ovary tissue taken when she was a child. The 24-year-old is thought to be the first in the world to have a baby after having an ovary frozen before the onset of puberty. Moaza Al Matrooshi, who gave birth in London, […]

Kano: Bird Flu resurfaces –State Government

Winifred Bosa. Avian influenza, popularly known as Bird flu has resurfaced in Kano state, the state government announced on Wednesday. Dr Shehu Bawa, the Director Veterinary Services, Ministry of Agriculture and Natural Resources, disclosed this to our correspondent in Kano. Bawa said the outbreak was recorded in one of the poultry farms in the state. […]

WHO says 247 health centers destroyed in Borno, Nigeria

Winifred Bosa. About 247 health centers in Boko Haram-hit state of Borno have been totally destroyed, the World Health Organisation reports. The number represents a third of all the 743 health facilities in the state prior to the advent of activities by the insurgent group. The insurgent group had also partially destroyed another third of […]

Zenith bank to reopen Gov. Fayose’s bank account on court judgment

Amaka Obiefuna. Ekiti State Governor Ayodele Fayose has described the judgment of the Ado-Ekiti Federal High Court declaring as illegal the freezing of his bank accounts by the Economic and Financial Crimes Commission (EFCC) as a welcome development. The governor, who stated this in Ado-Ekiti on Wednesday through his Chief Press Secretary, Idowu Adelusi, said […]

‘Enugu to improve education through radio programme’

Winifred Bosa. The Enugu State Government says it has leveraged on the ‘Radio School’ programme of the South Saharan Social Development Organisation (SSDO) to improve education in the state. The state Commissioner of Education, Prof. Uche Eze, said this in Enugu on Wednesday during a town hall meeting. The radio school programme of SSDO involves […]

President says he wants oil output to return to 2.2 mln bpd

Fidelia Okafor. Nigeria’s President Muhammadu Buhari told lawmakers in his 2017 budget presentation on Wednesday that he wants to restore oil output to 2.2 million barrels per day. A series of attacks since January on energy facilities in the southern Niger Delta cut oil production in the OPEC member, which stood at around 2.1 million […]

Nigerian Customs Seals Up Rice Warehouse in Lagos

Fidelia Okafor. The Nigeria Customs Service has sealed up about six warehouses in Lagos used by suspected smugglers. One of the warehouses sealed up is said to contain over 20,000 bags of rice that were smuggled into the country. The NCS also disclosed that it collected the sum of N286.623 million as revenue from seized […]

Buhari says drop in oil prices led to low implementation of 2016 budget

Amaka Obiefuna. President Muhammadu Buhari has explained that global drop in oil prices has affected implementation of 2016 budget. In his speech to the joint session of the federal legislators which just ended, he explained that the current administration was confronting challenges it did not create, while noting that they remain focused on the development […]

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