American Firm Will Invest $50m Modular Refinery In Warri

If all indications are right, an American firm is set to construct a $50 million modular refinery in Nigeria. This will be situated in...

Customs: Here Is How Much Seme Area Command Generated For FG In February

Nigeria Customs Service (NCS) has announced that its Seme-Badagry Area Command made N 1.072 billion for the Federal Government in the month of...

Niger-Delta Militants Blow Up A Seawater Pipeline, 15% of Nigeria’s Crude Output At Risk

A sub-sea pipeline in the Niger-Delta has been attacked by militants which could threaten Nigeria's crude oil output. According to Reuters, the attack was branded...

Former Brazilian President Detained In Petrobras Scandal

Former Brazilian President Luiz Inacio Lula da Silva was earlier today detained at his home for questioning for his role in state oil company...

See How Nigeria Loses $2.9bn Annually To Tax incentives Granted To Multinational Companies

The Action Aid Policy Advocacy and Campaigns Manager, Mr. Tunde Aremu, has said that Nigeria loses $2.9 billion annually to tax incentives granted to...

CBN Approves What Could Make Interswitch The Single Largest Agent Network In Nigeria

The Central Bank of Nigeria (CBN) has just given a go ahead to a subsidiary of Interswitch Group, Interswitch Financial Inclusion Services (IFIS) with...

Budget Benchmark Of $38 Per Barrel Price Of Crude Oil Is Not Sacrosanct –...

Minister of budget and planning, Udoma Udo Udoma, has said that the government may reduce the oil benchmark of $38 per barrel proposed for...

Statistician General Says Nigeria’s Population Can’t Be 170 million

The Statistician General of the Federation Dr Yemi Kale has in one fell swoop discredited Nigeria's population figure. The erudite Kale,  in an interview...

FG Wants To Replace Oil As No. 1 Forex Earner By Increasing Non-Oil Export...

Plans by the President Muhammadu Buhari administration to diversify the revenue base of the economy is on course as the Nigeria Export Promotion Council...

CBN Deputy Governor Says $20bn Idle Funds In Banks Is Killing The Naira

Deputy Governor, Financial System Surveillance, of the Central Bank of Nigeria (CBN), Dr. Joseph Nnana, has lamented that about $20bn (N3.94tn) lying idle in...

Business Round Up (March 4): 53% of Nigerians Are in The Banking System,...

Punch CFAO NIPEN raises shareholders’ funds to N2.27bn: The Nigerian Ball-Point Pen Industries’ arm of the CFAO Group says it has increased its revenue from N4.453bn...

MTN CEO Predicts Nigeria Will Devalue The Naira By 22% This Year

The Chief financial officer of South Africa's MTN Group, Brett Goschen, said that he expects Nigeria to devalue by 22% at some point this...

[$3.9 billion Fine] MTN May List On The Nigerian Stock Exchange

MTN Group may finally get to list its Nigerian unit on the Nigerian Stock Exchange (NSE) once the issue over the $3.9 billion fine...

NNPC To Carry Out Major Shake-Up Next Week, First In 20 Years- Kachikwu

The Nigerian National Petroleum Corporation (NNPC) will undergo a major restructuring next week, according to the Minister of State for Petroleum Resources, Dr, Ibe...

Nigerian Stocks Are UP, Diamond Bank Gains 10%

Nigerian stocks ended in a positive today as the All Share Index (ASI) gained 1.65% to close at 25,816.29. The gain was abit lower...

Jumia’s Owners Just Raised $245million At An Incredible Valuation $1billion

Africa Internet Group, the company behind the continent’s biggest ecommerce company Jumia, has raised €225m ($245 m) in one of the biggest fundraising rounds...

NERC Explains Why Electricity Output Is On The Decline

Nigerian Electricity Regulatory Commission (NERC) has announced that the power grid dropped more than 40% from its record breaking 5000mw in the past two...

DSTV: Why MultiChoice May Increase Prices In Nigeria After Doing So In South Africa

MultiChoice announced new prices for its DStv services in South Africa recently, which will result in increases for many subscribers. The new prices will...

These 3 Nigerian Companies Want A Share Of Uganda’s Oil Blocks

Three Nigerian oil and gas exploration and production (E&P) companies are bidding for the maiden oil licensing round for oil blocks approved by the...

MTN Says It Has Set Aside $600 million For Nigerian Fines

MTN Group has announced that it is setting aside a sum of  9.3 billion rand ($600 million) to cover payments for the fine imposed...

National Assembly To Pass 2016 Budget On March 17th

The 2016 revised budget will be passed in on March 17, according to lawmakers who disclosed this on Wednesday. The controversial 2016 Budget of N6.07...

MTN Blames Nigeria For Its Poor 2015 Financial Performance

MTN Group released its 2015 financial results, which showed the company's profits dropped by 50%, as the company has also set aside $600 million...

[Nigerian Stocks] Dangote’s Companies Are Soaring

Nigerian stocks ended in a positive today as the All Share Index gained 2.25% to close at 25,396.83, which was a seven-week high. The...

Forbes Richests: Here Are The 5 Nigerians On The Latest List

Forbes released its 2016 World's richest billionaires list on Tuesday. Not surprising was the fact that the President of the Dangote Group, Aliko Dangote...

Meet The Profs That Will Transform Nigeria’s Solid Minerals Sector

A 17-man committee has been set up to develop a blueprint for the transformation of the solid minerals sector in Nigeria. This plan was disclosed...
Crude Oil prices, oil

Nigeria Lost $21bn Of Investment Over Low Oil Prices – Chevron MD

Managing Director, Chevron Nigeria Limited, Clay Neff has disclosed that Nigeria had lost about $21 billion investment as a result of the dwindling oil...

Kennedy Uzoka: 5 Key Things You Should Know About UBA’s New GMD

Kennedy Uzoka, holds a B.Sc. in Mechanical Engineering from the University of Benin and an MBA from the University of Lagos. A multiple awards...

[DEAL] Bayelsa State, Shell To Improve Power Supply

The Bayelsa State Government has signed a deal in the hydrocarbon value chain with the Shell Petroleum Development Company of Nigeria (SPDC) by entering...

SEC DG Says FG Should Encourage Listing By Giving Contract To Only Quoted Companies

An advice has gone out to the Federal Government to woe multinational firms doing business in Nigeria to list on the floor of the...

This South African Company Is Exiting Nigeria Due To The Currency Crisis

South African Company, Clover Industries (Clover) has announced that it will no longer invest in Nigeria due to the financial crisis caused by the...