CATEGORY: COMPANIES

All the major economic news from Nigeria in 5 minutes – 23/6/2017

Summary of the top business, economic and political news in Nigeria today.   The Lagos State Government has promised...


All the major economic news in Nigeria in 5 minutes 22/6/2017

Summary of the top business, economic and political news in Nigeria today.   The Acting Chairman, Fiscal Responsibility Commission...


Etisalat claims it owes banks $575million not $1.2 billion

Etisalat Nigeria has revealed that the $1.2 billion widely reported as its indebtedness to about 13 Nigerian banks is...




Travis Kalanick Fall, experts share lessons for Nigerian start-ups

Travis Kalanick founder of ride sharing app Uber, yesterday resigned from his post as Chief Executive Officer (CEO) of...


All the major economic news from Nigeria in 5 minutes – 21/6/2017

Summary of the top business, economic and political news in Nigeria today.   The Central Bank of Nigeria, CBN,...


Akwa Ibom has taken Total Upstream to court over unpaid taxes

In yet another example of why Nigeria is a difficult place to do business, the Akwa Ibom state government...


Alert: Conoil declares N2.8 billion profit (2016 FY)

Conoil today released audited results for the financial year ended 31 December 2016.   Revenue N’million FY 2016| N85,024...


Sequence of events that led to the exit of Etisalat UAE

Nigeria’s fourth largest GSM service provider Etisalat Nigeria announced on Tuesday that its parent company, Etisalat UAE has decided...


All the major economic news from Nigeria in 5 minutes – 20/6/2017

Summary of the top business, economic and political news in Nigeria today.   The federal government has unveiled the...


List of Nigerian banks exposed to Etisalat’s $1.2 billion debt

Etisalat UAE has officially decided to pull out of Nigeria following a series of negotiations with a consortium of...


Official: Etisalat UAE pulls out of Nigeria, may also take back naming rights

Etisalat Nigeria has confirmed changes in its shareholdings structure. Its Abu Dhabi parent company, Etisalat UAE informed the Abu...


It’s over, Etisalat UAE throws in the towel          

The Etisalat Nigeria saga has developed yet another twist, as a press release issued on the Abu Dhabi Stock...


Petralon deal confirms Julius Berger diversifying going into oil and gas industry

In a notice sent yesterday to the Nigerian Stock Exchange (NSE), Julius Berger stated its intention of going into...


All the major economic news from Nigeria in 5 minutes – 19/6/2017

Summary of the top business, economic and political news in Nigeria today.   Barring further economic upheavals or exogenous...


This proves Mike Adenuga is now the largest shareholder in Julius Berger

Nairametrics investigations suggest billionaire investor and owner of Globacom, Mike Adenuga is now the single largest majority shareholder in...


How Safricom’s MPesa plans to enter Nigerian market

Kenyan telecoms giant, Safricom is considering the various options to bring its popular mobile money product to other countries...


Nigerian banks rake in N132.4 billion from E-business Income in 2016

Data from annual report of some top commercial banks in Nigeria reveal they made a combined sum of N132.4 billion...


The FAAN-Air Peace drama explains why foreign investors are still on the run

Late last week, an Air Peace flight scheduled to take off at from the Akanu Ibiam International Airport, Enugu...


Why Forte Oil wants to raise N20 billion from the equity market

One of the top 5 major petroleum marketers, Forte oil has unveiled plans to raise N20 billion in equity...


Investors express disdain over NIPCO/Mobil MTO cut-off date

New owners of Mobil Oil Nigeria Ltd, NIPCO Ltd, launched a Mandatory Take Over Bid for the shares of...


Reports suggest Ethiopia Air may soon run Arik

Reports from Nigeria’s local newspaper, Thisday suggest Ethiopian Airlines is in advanced negotiations with the Asset Management Company of...


Lafarge Africa to run its plants on renewable energy within 5 years

Nigeria’s second largest cement producer, Lafarge Africa is making efforts to run its plants on renewable energy in the...


Dangote Cement factory in Congo to begin operations in July 2017

Nigeria’s richest man, Aliko Dangote has continued with the expansion of Dangote Cement across the continent. The company’s 1.5...


What OAS helicopters stands to gain by partnering Abu Dhabi Aviation

After a two year period of discussions, OAS helicopters has finally signed a partnership agreement with Abu Dhabi Aviation...



Etisalat vs Nigerian banks: Why not try this option?

The intervention by the National Communications Commission (NCC) and the Central Bank of Nigeria (CBN) in negotiations between Etisalat...


MTN may lose millions in bulk sms revenue because of a court judgement

MTN Nigeria, the largest GSM operator in the country, may see a drop in revenues due to a recent...


The Taxify-AIICO-AutoGenius partnership is a win win for all parties     

One of Nigeria’s leading Insurance companies, AIICO has announced a partnership with ride sharing app, Taxify to offer insurance...