Business news
The World Health Organisation (WHO) said it had taken measures to effectively respond to the recent outbreak of Ebola in the Democratic Republic of Congo (DRC). Regional Director of WHO for Africa, Dr Matshidiso Moeti, said in a statement on Sunday in Abuja, that the organisation would work with the UN and other partners to […]
Amaka Obiefuna. Last year’s report of Union Bank Plc, show the bank made a profit after tax (PAT) of N15.4billion on gross earnings of ₦126.6 billion for the financial year ended December 31, 2016. Cyril Odu, the Chairman of the bank, who presented the report to shareholders at the 48th Annual General Meeting in Lagos, […]
Amaka Obiefuna. Mr. Wale Tinubu, Oando Plc’s MD says the oil giant plants to seek the approval of the Federal Government to refurbish one or two refineries as part of measures to end fuel importation. He was speaking during the company’s facts behind the figure at the Nigerian Stock Exchange (NSE). Mr. Tinubu explained that […]
Amaka Obiefuna Nigeria’s Security and Exchange Commission’s DG, Mr Mounir Gwarzo, has revealed that 2.2 million investors have so far registered for the e-dividend payment platform. The e- dividend is an electronic means of posting shareholders dividend directly into their bank accounts. SEC in 2016 formally inaugurated the e-Dividend Mandate Management System (e-DMMS) in conjunction […]
The Managing Director/Chief Executive of Nigeria Deposit Insurance Corporation (NDIC),Alhaji Umaru Ibrahim has called on members of the public to ignore rumours of financial distress in some banks that are being circulated through text messages and social media to de-marketthose banks and destabilisedepositors’ confidence in the banking system. Alhaji Ibrahim made this call during a […]
The Federal Government has released N30 billion for the development of the solid minerals sector, a top official of the Solid Minerals Development Fund has announced. Hajiya Hadiza Goni, Acting Secretary of the fund, made the announcement in Sokoto. She made the disclosure in an interview with journalists on the sidelines of a workshop on […]
In a bid to realize the Federal Government’s mandate to deploy the nation’s gas resources to stimulate economic growth, the Nigerian National Petroleum Corporation (NNPC) and its partners have evolved a scheme to grow gas supply for domestic consumption by 285% from1.3billion standard cubic feet per day to 5bscf/d by 2020. This was disclosed at […]
A Bill for an Act to repeal and re-enact the Oil and Gas Free Zone Authority Act has passed second reading at the House of Representatives. The bill, which was sponsored by Rep. Emmanuel Orker-Jev and four other legislators, seeks to liberalise oil and gas free zone and make the authority more responsive to its […]
The NSE All Share Index as well as the NSE Market Capitalisation have continued to rise with both appreciating on Wednesday by 2.95 per cent. The NSE All Share Index rose by 790.47 basis points to close at 27,546.68 basis points. While the NSE Market Capitalisation appreciated by 273 billion Naira when it closed at […]
The Federal Government of Nigeria and Italian oil giant, Agip, have reached an agreement for the building of a 150,000 capacity new refinery in Rivers State, South South Nigeria. Minister of State for Petroleum, Ibe Kachikwu, stated this while briefing State House Correspondents on the outcome of a meeting between the Ministry of Petroleum, the […]