Business news
Patients and members of staff of the University College Hospital, Ibadan, experienced difficulty in gaining entry into the hospital premises on Monday morning after security men and cleaners at the facility embarked on strike, locking the two gates leading to the hospital. Our correspondent learnt that the workers were protesting against the non-payment of their […]
The global airline industry has $1.2bn blocked in nine dollar-strapped African countries, the International Air Transport Association said on Monday. The global commodities price crash that began in 2014 hit economies across Africa hard, particularly big resource exporters such as Angola and Nigeria. An IATA official, Adefunke Adeyemi, told Reuters in Kigali, Rwanda, during an […]
The Securities and Exchange Commission has expressed concern over the bloating domestic bond market, which appears to be crowding the investment space and hampering growth of other investment instruments. As at August 2017, the market capitalisation of Nigeria’s domestic bonds market stood at N7.4tn, representing a growth of 11.5 per cent from August 2016, when […]
The Federal Government on Monday announced that it had recovered $64.63m electricity debt from the Republics of Benin and Niger. According to the Minister of Power, Works and Housing, Babatunde Fashola, the Nigerian Bulk Electricity Trading Company has been directed to work out the modalities for the distribution of the money to power producing firms […]
More than two dozen Nigerian crude oil cargoes were left unsold on Monday amid a supply glut of light sweet crude in the market. Reuters reported that tenders to buy oil from companies in India and Indonesia helped to absorb some excess, but there were roughly 30 unsold Nigerian cargoes and a handful from Angola. While […]