Business

Latest and Trending Business News All Across The Globe

Africa, Nigeria now best investment destination, says AfDB

Africa, Nigeria now best investment destination, says AfDB

Africa, and in particular Nigeria, has become the best place for investment following the consummation of the about $3 trillion African market in the...
Research group rallies stakeholders on new energy crisis’ study

Research group rallies stakeholders on new energy crisis’ study

To seek sustainable solutions beyond protests to Nigeria’s energy crisis, stakeholders, including members of the academia, civil society groups, and development agencies, have unveiled...
PEF monitors petrol distribution to check sharp practices

PEF monitors petrol distribution to check sharp practices

Petroleum Equalisation Fund (PEF), said it has commenced strict monitoring of Premium Motor Spirit (PSM), popularly called petrol across the country. Speaking yesterday, in Abuja,...
Stakeholders rally support for dangerous goods awareness

Stakeholders rally support for dangerous goods awareness

Stakeholders in the transport sector have stressed the need for government and private entities to raise awareness on dangerous goods.The stakeholders, who gathered at...
Sell-off persists, as investors lose N265 billion more

Sell-off persists, as investors lose N265 billion more

•Analysts urge shareholders to leverage low stock prices Following sell pressure on the shares of  major blue-chip stocks , trading on the equities sector of...
Online business school debuts, targets 100,000 entrepreneurs by 2022

Online business school debuts, targets 100,000 entrepreneurs by 2022

To improve the capacity of small businesses and enhance their contributions to Nigeria’s Gross Domestic Product (GDP), Business Lab Africa, (BLA), an online business...
Investments in OGFTZ exceeds $2bn, says management

Investments in OGFTZ exceeds $2bn, says management

• Employs 6,000 locals Investments in the Ogun Guangdong Free Trade Zone, in Igesa Ota Local Government Area of Ogun State, is said to have...
NSIA is a profitable social enterprise, says Uche Orji

NSIA is a profitable social enterprise, says Uche Orji

The management of the country’s sovereign wealth fund in relation to other climes recently threw up some issues in terms of its effectiveness, investment...
GTBank named ‘Best Bank in Africa’ at Euromoney awards

GTBank named ‘Best Bank in Africa’ at Euromoney awards

…Also emerges Best Bank in Nigeria for a record 9th time Foremost African financial institution, Guaranty Trust Bank Plc, has been named the Best Bank...
TCN to boost transmission capacity to 10,000MW this year

TCN to boost transmission capacity to 10,000MW this year

The Transmission Company of Nigeria (TCN), yesterday, in Abuja, said electricity wheeling capacity in the country will hit 10,000 megawatts (MW) by year end. With the development,...
Firm launches new marketing tool

Firm launches new marketing tool

Retrosoft Solutions Limited, one of the fastest growing and leading digital marketing agencies in Lagos, has launched a new product,  Ruby, which serves the...
NCDMB, firm stake N610m to improve geosciences

NCDMB, firm stake N610m to improve geosciences

Nigerian Content Development Monitoring Board (NCDMB), and Danvic Petroleum International, has staked N610 million to improve seismic interpretation and geosciences in Nigeria. NCDMB is expected...

Customs generates N203.3 billion in Apapa

The Nigeria Customs Service (NCS), Apapa Area Command, has racked in revenue of N203.26 billion for the half-year (H1) period January 1 to June...
Amidst concerns DMO puts Nigeria’s public debt at N25trn

Amidst concerns DMO puts Nigeria’s public debt at N25trn

• LCCI urges govt to explore alternative revenue Amidst concerns by the Bretton Woods Institutions, including the International Monetary Fund (IMF), and World Bank over...
NUBIFIE to challenge Ecobank’s sacking of 1,200 workers

NUBIFIE to challenge Ecobank’s sacking of 1,200 workers

•They’re not our staff, Bank defends Bank workers under the auspices of the National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE), are preparing...
CBN limits daily standing deposit facility to N2 billion

CBN limits daily standing deposit facility to N2 billion

Effective from today, Thursday, banks and discount houses operating in the country are to limit their daily access to the Central Bank of Nigeria...
DBI, Cisco canvass investments in securities to combat cybercrime menace

DBI, Cisco canvass investments in securities to combat cybercrime menace

Fresh investments, coupled with increased capacity building have become strategic to curbing the growing influence of cybercrime in Nigeria. The need for these emanated at...
NDLEA, Shippers’ Council flay smuggling of illicit drugs into Nigeria

NDLEA, Shippers’ Council flay smuggling of illicit drugs into Nigeria

The National Drug Law Enforcement Agency (NDLEA), and the Nigerian Shippers’ Council (NSC), have reviewed their synergy to halt smuggling of Tramadol and other...
AfCFTA’s success hinged on poverty reduction, economic development

AfCFTA’s success hinged on poverty reduction, economic development

Though the African Continental Free Trade Area (AfCFTA) aspires towards deepening the integration of the African continent beyond merely a free trade area, latest...
Troubled Calabar port and survival strategies for terminal operators

Troubled Calabar port and survival strategies for terminal operators

In the last couple of years, the Calabar Port Complex has been inundated with several challenges that have withered its fortunes, thus causing pains...
Airtel listing pushes market capitalisation by N1.34 trillion

Airtel listing pushes market capitalisation by N1.34 trillion

Despite price losses that outweighed gains, transactions in the equities sector of the Nigerian Stock Exchange (NSE), sustained rising profile as market capitalisation rose...
Tax Tribunal receives N71.7billion-worth new appeals, resolves 42

Tax Tribunal receives N71.7billion-worth new appeals, resolves 42

The Coordinating Secretary, Tax Appeal Tribunal (TAT), Muhammad Lawal Abubakar, has said that between November 2018 and June 2019, 62 new appeals with disputed...
Group tasks government on prosecution, recovery of assets under PEF investigations

Group tasks government on prosecution, recovery of assets under PEF investigations

Petroleum Equalisation Fund (PEF) Worried that corruption cases against public officials, especially those related to the Petroleum Equalisation Fund (PEF), may not be properly handled,...

Alleged illegal suspension: Court fixes Nov. 11 for suit against PENGASSAN

The National Industrial Court on Tuesday fixed Nov. 11 for hearing in a suit filed by two members of Petroleum and Natural Gas Senior...
Global passenger traffic remains stable amid slow trend

Global passenger traffic remains stable amid slow trend

The International Air Transport Association (IATA), has announced global passenger traffic results for May, showing a 4.5 per cent surge in demand compared to...
Nigeria’s 1.97mbpd June volume highest since 2015, says survey

Nigeria’s 1.97mbpd June volume highest since 2015, says survey

’Compliance pressures expected in coming months’ Organisation of the Petroleum Exporting Countries (OPEC’s) compliance with its production quotas fell sharply in June, as output gains...
GEIL invests $350 million in new wells, field development

GEIL invests $350 million in new wells, field development

Green Energy International Limited (GEIL), operator of the Otakikpo Marginal Field, in oil mining lease (OML) 11, Rivers State, said it has secured a...
SON seizes N38m substandard aluminium roofing sheets

SON seizes N38m substandard aluminium roofing sheets

The Standards Organisation of Nigeria (SON) has seized sub-standard aluminium roofing sheets worth over N38 million in a move to ensure that only goods...
ABCON urges Nigeria to gain from U.S., China, Russia trade war

ABCON urges Nigeria to gain from U.S., China, Russia trade war

• Seeks more Naira-Yuan swap deal, derivatives market support Nigeria must make the best from the growing tensions between the United States of America and Russia/Asian...
Afreximbank’s $1b adjustment facility for AfCFTA debuts

Afreximbank’s $1b adjustment facility for AfCFTA debuts

Following the official take off of the African Continental Free Trade Area (AfCFTA) last weekend, the region’s largest trade bank – African Export-Import Bank...
CIOTA to build world-class transport administration institute

CIOTA to build world-class transport administration institute

• Articulates road map for growth The Chartered Institute of Transport Administration of Nigeria (CIOTA), has said it will build a reputation as a world...
Honeywell Flour Mills grows revenue to N74.4 billion

Honeywell Flour Mills grows revenue to N74.4 billion

Honeywell Flour Mills Plc (HFMP), a leading foods manufacturer in Nigeria, has grown its revenue by 4 per cent to N74.4 billion recording its...

NSE halts losing streak, as Flourmills, others lift index by N7b

Investors’ renewed interest in some bluechip stocks especially Flourmills, and Unity Bank, halted the negative sentiments that had gripped the equities sector of the...

Firm adopts Google flutter to build productive apps for professionals

Nigeria’s based mobile app building company, Weprototype Technologies has adopted the Google Flutter Software Development Kit and App Prototyping technique to build applications for...
NCC reiterates support for youth entrepreneurship

NCC reiterates support for youth entrepreneurship

The Nigerian Communications Commission (NCC), is set to assist the Nigerian Association of Chambers of Commerce, Industry, Mine and Agriculture (NACCIMA) Youth Enterprise develop Youth...

PENGASSAN tasks Kyari on subsidy, vandalism, others

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), has charged the new Group Managing Director (GMD} of the Nigerian National Petroleum...
Viathan to boost productivity with new gas plant

Viathan to boost productivity with new gas plant

Viathan has completed the construction of its Compressed Natural Gas (CNG) plant, operated by GasCo Marine, a member of the Viathan Group, located in...

Anchor’s financial account gets approval for compliance

The Management of Anchor Insurance Company Limited has received the approval of the National Insurance Commission (NAICOM) for its audited financial statement for the...
Why fiscal policy support is needed now, by FSDH

Why fiscal policy support is needed now, by FSDH

The Central Bank of Nigeria (CBN) may be reaching the limit of its monetary policy tools in stimulating the economy. This is especially so...
Mutual Benefits records N14 billion underwriting income

Mutual Benefits records N14 billion underwriting income

Mutual Benefits Assurance Plc in its audited financial statement for the year ended December 31, 2018, recorded a net underwriting income of N13.9 billion,...
FCMB opens third branch in Osun

FCMB opens third branch in Osun

First City Monument Bank (FCMB) has opened an ultra-modern branch at Akarabata Layout (along Lagere Road), Ile-Ife, Osun State, making it the only three...
Sterling Bank ranked among best places to work in Africa

Sterling Bank ranked among best places to work in Africa

Sterling Bank Plc has been adjudged as the third best place to work in Nigeria and on the African continent at the 2019 edition...

NEM offers investors N687 million dividend

NEM Insurance Plc has recommended N686.46 million as dividend payable at 13 kobo per 50 kobo ordinary shares to its shareholders. The Chairman of the...
Harris, Soje, others get Kids Entrepreneur Awards

Harris, Soje, others get Kids Entrepreneur Awards

A seven-year-old author, Miss Paris Harris and a 10-year-old chef, Miss Samantha Soje recently received the Kid Entrepreneurs awards. The duo was among eight recipients...
Praise Emmanuel Adebayo: Gifted drummer boy, saxophonist

Praise Emmanuel Adebayo: Gifted drummer boy, saxophonist

Twelve-year-old Praise Emmanuel Adebayo is a JSS3 pupil. He started quite early in his journey to uncover, develop and perfect his talents, which are...
Subsidy on PMS, electricity: Stakeholders weigh options

Subsidy on PMS, electricity: Stakeholders weigh options

The unending subsidy regime on Premium Motor Spirit and government’s continuous intervention in the power sector do not only drain the nation’s economy, but...
KLM rallies industry to new future ahead of 100th anniversary

KLM rallies industry to new future ahead of 100th anniversary

About 100 days to the commemoration of its 100th anniversary, KLM Royal Dutch Airlines has expressed readiness to join hands with other stakeholder for...
SEC adopts new measure to tackle unclaimed dividend

SEC adopts new measure to tackle unclaimed dividend

• Reduces costs, time for transmission of deceased shares • Registrars risk paying over N1million for infringement To further slash the quantum of unclaimed dividend in...
Pirates on Nigerian waters risk life imprisonment, N500 million fines

Pirates on Nigerian waters risk life imprisonment, N500 million fines

Hard times await pirates that operate on Nigerian waters, as the Suppression of Piracy and other Maritime Offences Bill, signed into law by President...
West Africa targets $57b investment, integrated ports, rail sector

West Africa targets $57b investment, integrated ports, rail sector

West African countries will later this month meet in Lagos to chart path to integrated ports, road and rail transport sector, with new investments...
Shell wins NOG 2019 Excellence Award

Shell wins NOG 2019 Excellence Award

Shell Companies in Nigeria (SCiN), on Wednesday, won the coveted Excellence Award, at the just-concluded, Nigeria Oil and Gas Conference and Exhibition (NOG 2019),...
AMCON, ICPC to collaborate on debt recovery drive

AMCON, ICPC to collaborate on debt recovery drive

The Chairman, Independent Corrupt Practices and Other Related Offences Commission (ICPC), Prof. Bolaji Owasanoye, on Wednesday, in Abuja, disclosed of plans to collaborate with...

Dangote to empower millions in mega-billion promo

• Targets 70.1 million cement bags sales Aiming to better the lives of millions of consumers in the cement industry, Nigeria’s leading cement brand, Dangote...
Fidelity Bank targets improved funding to SMEs

Fidelity Bank targets improved funding to SMEs

Disburses over N2billion under CBN’s MSME fund Fidelity Bank Plc has announced plans to connect Small and Medium Enterprises (SMEs), to affordable and long tenor...
Access Bank to ease entertainers’ access to CBN fund

Access Bank to ease entertainers’ access to CBN fund

Access Bank Plc has reiterated its commitment to ensure the entertainment industry has access the Central Bank of Nigeria (CBN), intervention fund to support...
Advans La Fayette MFB expands facility to Lagos

Advans La Fayette MFB expands facility to Lagos

To support small and medium enterprises (SMEs), and ensure more Nigerians benefitted from its wide range of financial products, Advan La Fayette Microfinance Bank,...

Export experts harp on capacity building to boost sector

• Govt targets additional $1.5bn for ICT To harness the huge potential in the export sector currently worth about $500 million with over $12billion opportunities,...
NBC recommits to socioeconomic development in Nigeria

NBC recommits to socioeconomic development in Nigeria

Nigerian Bottling Company (NBC), has reaffirmed its commitment to scaling socioeconomic impact in the country, as it unveiled its maiden Sustainability Report with focus...
Eunisell to tackle marginal field operation challenges

Eunisell to tackle marginal field operation challenges

A leading oil & gas production solutions companies, Eunisell, has reiterated its commitment to assisting marginal oil field owners overcome complex technical and financial...
FG saves $1.7bn from managed interventions for petrol importation

FG saves $1.7bn from managed interventions for petrol importation

NNPC tower The Nigerian National Petroleum Corporation (NNPC), yesterday, defended its role in the importation of Premium Motor Spirit, otherwise known as petrol, noting that...
Bearish sentiments in highcap stocks pull indices down by N9bn

Bearish sentiments in highcap stocks pull indices down by N9bn

Nigeria Stock Exchange (NSE). The bearish sentiments witnessed in the Nigerian equities market extended into the third consecutive session, as sell pressure in highly capitalised...
Group targets $1 trillion to eliminate unemployment in Nigeria

Group targets $1 trillion to eliminate unemployment in Nigeria

Unemployment. African Centre for Global Entrepreneurial Leadership (ACGEL), is pulling together over $1trillion fund for job creation to fight unemployment in Nigeria over the next...
Stakeholders urge Buhari to address SMEs challenges

Stakeholders urge Buhari to address SMEs challenges

Small and medium scale enterprises (SMEs) Players in the Small and Medium scale Enterprises (SMEs), have urged President Muhammadu Buhari to address the challenges facing...
‘Prolonged constitution of cabinet, insecurity fuelling economic uncertainty, stalling investments’

‘Prolonged constitution of cabinet, insecurity fuelling economic uncertainty, stalling investments’

President, LCCI, Babatunde Ruwase Prolonged delay in having a cabinet in place is fuelling economic uncertainty and may undermine the confidence of investors, even as...
Airtel listing to constitute 10 per cent market capitalisation

Airtel listing to constitute 10 per cent market capitalisation

With Airtel set to list its shares on Friday, on the Nigerian Stock Exchange (NSE), analysts have said that the listing would constitute about...
Activate safeguards after AfCFTA ratification, operators tell FG

Activate safeguards after AfCFTA ratification, operators tell FG

The Lagos Chamber of Commerce and Industry (LCCI), has advocated necessary safeguards, systems, soft and hard infrastructure, including viable ICT policies must be activated...
‘Power sector holds the key to poverty eradication’

‘Power sector holds the key to poverty eradication’

Dr. Jamilu Isyaku Gwamna is the Managing Director of Kano Electricity Distribution Company (KEDCO). In this interview with LEO SOBECHI, he explains how the...
North accounts for 68.6% of financially excluded Nigerians

North accounts for 68.6% of financially excluded Nigerians

The three northern regions currently account for the most financially-excluded areas in Nigeria, a survey by the Enhancing Financial Innovation & Access (EFInA), revealed. Specifically,...
Banks record ₦1.5tr non-performing loans in 2018

Banks record ₦1.5tr non-performing loans in 2018

Loan Analyst links incidence to macroeconomic headwinds Following the adoption of IFRS 9, about 10.9 per cent of the loan book in the banking industry, representing...
‘Only one power plant built from 100 licences issued’

‘Only one power plant built from 100 licences issued’

Executive Director, Nestoil, Dr Chukwueloka Umeh • Regulation stifling investments, say stakeholders Stakeholders have again faulted the privatisation of the power sector, noting that regulatory framework...
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