Business news
Nigerian Breweries Plc has boosted the businesses of 32 entrepreneurs operating in Ekiti and Osun states with grants of N300,000 each. The brewer, in a statement on Friday, said it was driving the scheme through the Goldberg’s Isedowo empowerment initiative, which would also be extended to other South-West states. The initiative, which was recently launched […]
The Nigerian National Petroleum Corporation and its joint venture partner, Nigerian Agip Oil Company, on Friday announced their readiness to boost the country’s power generation by 480 megawatts through the completion of the Okpai Phase II independent power project by 2019. This was disclosed during the inauguration of the Okpai Phase II power project by […]
Diamond Bank Plc is set to sell its West African banking operations to Manzi Finances S.A., a Cote d’Ivoire-based financial services holding company, in order to focus on Nigeria’s significant retail banking opportunity. The bank said on Friday that it had agreed to sell its operations in Benin, Togo, Cote d’Ivoire and Senegal. According to […]
Former presidential aspirant, Mr. Donald Duke, has said that should the poor economic viability status of most states in the country persists, then the Lagos economy may no longer support the population growth in the state. Duke, who was governor of Cross River State between 1999 and 2007, blamed the development on most governors, who […]
The Federal Airports Authority of Nigeria (FAAN) has warned the general public not to patronise those people parading themselves as recruitment agents of the authority, and who use the opportunity to extort money from innocent and unsuspecting citizens. The warning was given in an online statement signed by the General Manager, Corporate Affairs,FAAN, Mrs Henrietta […]
Nigeria must use its oil wealth to prepare for a future when the world no longer runs on fossil fuels, Vice-President Yemi Osinbajo has said. Osinbajo said on Thursday that the country, a member of the Organisation of Petroleum Exporting Countries, needed to develop renewable energy and help other businesses flourish to “adjust to the […]
The Minister of Finance, Mrs. Kemi Adeosun, on Thursday said the decision of the Federal Government to refinance its $3bn worth of short-term Treasury Bills into longer tenured international debt was expected to save the country N91.65bn per annum. Adeosun said this in a statement issued by her Media Adviser Mr. Oluyinka Akintunde. The Finance […]
Members of the House of Representatives on Thursday protested as President Muhammadu Buhari requested their permission to present the estimates of the 2018 budget to a joint session of the National Assembly. The President asked to be allowed to lay the estimates on Tuesday, November 7. His request was contained in a letter that the […]
The Federal Government is set to begin strict border controls on the physical movement of dollars and other foreign currencies. This is expected to mitigate foreign exchange scarcity and check money laundering activities, it was learnt. A draft law to ease dollar shortage by restricting movement of hard currencies in and out of Nigeria has […]
After it commenced the search for crude oil at the Nasarawa State end of the Benue Trough last week, the Nigerian National Petroleum Corporation on Thursday announced that it had started mobilising for oil exploration in the Benue State area of the trough. The Group Managing Director, NNPC, Maikanti Baru, led a delegation from the […]