Business

Fresh statistics released by National Bureau Of Statistics (NBS) on Monday revealed that the bulk of capital importation into Nigeria declined by 7.7% The report shows that total value of capital importation into Nigeria stood at $5,367.56 million in 2019 third quarter (July to September). This represents a decrease of -7.78% compared to Q2 2019 […]

The National Industrial Court sitting in Lagos has fixed December 17 and 18 to try the suit initiated by over 1,000 former bank workers affected by the recapitalisation exercise in 2006. The defendants in the suit are the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC). At the proceedings on Tuesday, […]

The Central Bank of Nigeria has signed a memorandum of understanding MoU with the Uniformed Services, Textile and Garment Factory Association in a bid to promote locally made fabrics and encourage Nigerian cotton farmers. The agreement was sealed on Tuesday under the Cotton, Textile and Garment Industry Resuscitation Project. Other beneficiaries of the project include […]

Former Head of State, General Abdulsalami Abubakar, has called on the Federal Government to review Nigeria’s foreign policy in the interest of the nation. He made the appeal on Tuesday, at the maiden edition of the annual Foreign Policy Public Lecture by the Association of Retired Career Ambassadors of Nigeria (ARCAN) at the Ministry of […]

Nigeria and Russia Thursday in Sochi, Russia, signed an important Memorandum of Understanding (MoU), which will enable both countries’ oil giants, Nigerian National Petroleum Corporation (NNPC) and Russia’s Lukeoil to elevate commercial relationship to a government-to-government backed partnership. With the signing of the MoU, NNPC and Lukeoil will work together in upstream operations and revamp […]

Minister of Finance, Mrs Zainab Ahmed says the Federal Government has secured a $3bn loan from the World Bank. According to the Finance Minister, the loan is to be used for reforming the nation’s power sector. Mrs Ahmed who announced the approval of the loan at a news conference to wrap up the World Bank/IMF […]

Vice President Yemi Osinbajo has reiterated Federal Government’s commitment to provide Micro, Small and Medium Enterprises (MSMEs) with the needed support to grow.   OSINBAJO said this at the opening of the 2019 Abuja International Trade Fair organised by Abuja Chamber of Commerce and Industry.   OSINBAJO whowas represented by Minister of State Federal Ministry […]

The nation’s refineries, located in Port Harcourt, Warri and Kaduna, will roar to live to refine crude oil at optimum capacity come 2022, the Nigerian National Petroleum Corporation (NNPC), has assured. NNPC Group Managing Director, Mallam Mele Kyari, who disclosed this Saturday during a facilities tour of the Port-Harcourt Refining and Petrochemical Company (PHRC), stated […]