Business News

Business and economic news from Nigeria and around the world.

Occupancy rates spike for Union Homes REIT

Union Homes Real Estate Investment Trust (REITs) recorded a spike in occupancy rates for its…

NCC moves to regulate infrastructure sharing regulations

Prof. Umar Danbatta, Executive Vice Chairman of the Nigerian Communications Commission has announced that the…

$9 billion case: Nigeria files new lawsuit against P&ID after new evidence emerges

The management of British Virgin Island firm, Process and Industrial Development (P&ID) will again have to defend the…

ECOWAS economy grows by 3.1%, expected to hit 3.3% by end of 2019

The economy of ECOWAS grew by 3.1% as at the end of the second quarter…

ECOWAS: Single currency regime not kicking off in 2020

The single currency regime for West Africa Countries might not kick off next year as…

Girdlock: FG shuts Apapa-Tin Can road for repairs

Apapa-Tin Can road would be shut for repairs by the Federal Government for 72 hours…

Inflation may rise if borders are not opened – LCCI

Nigeria’s inflationary trend may move higher in the coming months if the nation continues to…

Bitcoin users rise in Nigeria despite Senate, CBN campaign against it

The use of Bitcoin is rising in Nigeria despite the warnings given by the Nigerian…

ABEDC’s investors divided over $41 million contract breach

CEC Africa Investments Limited has accused Xerxes Global Investment Limited of breaching its agreement that…

NSE aids financial literacy, rewards students with equity, edufund

The NSE has continued to drive financial literacy among the young population with its annual Essay Competition on capital…

Nigeria may fall into recession if…, World Bank warns

The World Bank has warned that Nigeria may fall back into recession, highlighting conditions that…

PenCom boss queried for spending N5 billion on 380 staff in 8 months

The Acting DG of PenCom, Aisha Dahir-Umar has been queried by the House of Representatives for…

2020 Budget: An end to Nigeria’s budget cycle conundrum?

The Senate and the House of Representatives in a joint session passed the 2020 Appropriation…

Lagos offers tech founders N250 million seed fund, cuts stringent access

Entrepreneurs and innovators in the tech space in Lagos State now have new fund support…

Again, Finance Minister argues that Nigeria is not in debt distress

Nigeria’s Finance Minister, Zainab Ahmed, has once again argued that Nigeria does not have a…

CBN gets a new Director for Currency Operations

Ahmed Bello Umar has been appointed by the Central Bank of Nigeria (CBN) for the…

Nigeria’s Entertainment & Media industry to hit $10 billion by 2023 – PwC

Nigeria’s Entertainment and Media industry is expected to rise from $4.46 billion in 2018 to…

SON concludes partnership with UK to stop rejection of Nigerian products

The Standard Organization of Nigeria (SON) has signed a Memorandum of Understanding (MoU) with the United…

Saudi Aramco surpasses Alibaba in world’s largest IPO, raises $25.6 billion

Saudi Arabia’s state-controlled oil firm, Aramco has raised $25.6 billion in the largest Initial Public Offering…

El-Rufai: How Vodafone recorded its ‘biggest’ investment mistake in Nigeria

Governor Nasir El-Rufai has disclosed how Vodafone failed to invest in Nigeria despite having the…

Cotton producers move to recover N4 billion CBN loan

COPMA has announced that it is set to recover the N4 billion loan disbursed by…

Why more African countries need to offer dual citizenship opportunities to African-Americans

For many years, black people in the diaspora, particularly black Americans always found the African…

New oil discovery to facilitate massive job creation – NNPC

The NNPC has disclosed that the discovery of oil in the Upper Gongola Basin of Benue…

FG takes over Yola DisCo, investors to get N26.9 billion refund

The Federal Government of Nigeria is set to take over Yola Electricity Distribution Company (Yola…

Yaw Nsarkoh is leaving Unilever Nigeria Plc

Unilever Nigeria Plc has announced the resignation of Yaw Nsarkoh who was, until now, a…

Nigerian Senate passes 2020 National budget

The Nigerian Senate, on Thursday, December 5th, 2019, passed the 2020 National Budget of N10.59 trillion.

FG battles 6 oil firms for failure to remit N20 trillion

The FGN has initiated moves to recover $62.2 billion from 6 oil firms that defaulted…

How the CBN’s OMO restriction is affecting the market

The Nigerian treasury market has been characterised by bearish sentiment. This has particularly been affecting…

CBN holds N30 billion NHIS funds in spite poor coverage of scheme

The NHIS has over N30 billion with the Central Bank of Nigeria (CBN), after 14…

CBN issues N847.4 billion treasury bills for Q1 2020

CBN has published its Treasury Bills programme for January–March 2020, indicating that it planned to…

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