Economy
Lagos-Ibadan rail held by coronavirus outbreak, says Amaechi
The ongoing construction work on the Lagos-Ibadan rail project has been put on hold due to the outbreak of the...
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NNPC to diversify into power sector
As part of measures to ensure stable power supply in the country, Nigerian National Petroleum Corporation, (NNPC) has announced its...
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55 Nigerian oil cargoes unsold as demand tumbles
Oil traders are struggling to find buyers for 55 Nigerian crude oil cargoes as the spread of the coronavirus has...
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PwC forecasts volatile outlook for Africa’s capital markets
PricewaterhouseCoopers (PwC), a multinational professional services network of companies, has projected that Africa’s equity capital market (ECM) will sustain its...
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‘Refineries recorded N12.6b expenses‘
THE Nigerian National Petroleum Corporation (NNPC) has said its three national refineries undergoing rehabilitation recorded N12.6 billion operational expenses last...
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Coronavirus: FG to review budget as oil price plunges
The Federal Government has announced plans to review the 2020 budget as crude oil revenue comes under pressure from the...
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FMDQ, AFEX seal pact on N2.5trn loans for farmers
The Financial Market Dealers Exchange and the AFEX Commodities Exchange Ltd have partnered to unlock about N2.5trn financing to over...
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OPEC seeks Russia’s support for deeper production cut
Saudi Arabia and other members of the Organisation of Petroleum Exporting Countries are seeking to win support from Russia to...
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Lekoil moves to recover $450,000 after loan scam
Lekoil Limited has said its board of directors has commenced steps to recover the $450,000 paid to Seawave Invest Ltd,...
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Ardova grows post-acquisition profit by 520% to N3.9b
ARDOVA Plc, formerly known as Forte Oil Plc, recorded impressive growths in the top-line and bottom-line in its first audited...
Read moreStakeholders Hail NSE on Demutualisation, List Benefits
Capital market stakeholders have hailed the final approval given by members of the Nigerian Stock Exchange (NSE) to demutualise the...
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As if a recession wasn’t enough bad news for South Africa, it’s now confirmed as the continent’s second-largest economy. ...
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FIRS targets N4trn from oil, gas sector in 2020
The Federal Inland Revenue Service (FIRS) has projected to rake in N4 trillion as tax revenue from the nation’s extractive...
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Discos reject 17,657MW as power outage persists
Power generation on the national grid wobbled continuously in February as electricity distribution companies rejected a total of 17,657.19 megawatts...
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‘Why mergers and acquisition will top insurers’ agenda for recapitalisation’
Following the ongoing recapitalisation in the industry, the National Insurance Commission (NAICOM), is planning a palliative mechanism for underwriters, who...
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NSE Members Okay Exchange as Profit-making, Limited Liability Entity
Members of the Nigerian Stock Exchange (NSE) yesterday approved the process to conclude the demutualisation of the exchange to become...
Read morePower distributors’ revenue collection rises to N473bn
The revenue collected by power distribution companies in the county hit a new record high of N473bn in 2019. The...
Read moreNigeria faces harder times as OPEC mulls 2.7 million daily cut
Nigeria’s vulnerable economy may face further challenges following plans by the Organisation of Petroleum Exporting Countries (OPEC) to reduce crude...
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Experts flay indiscriminate withdrawal from escrow account
Economic experts have described the creation of Nigeria’s Excess Crude Account (ECA) also called Escrow, by the federal government as...
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Dangote, Zenith Bank, 4 others post N941bn profit
An analysis of the performance, indicated that four companies listed on the premium board of the NSE and two others...
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Olam Pledges to Boost Agric Value chain
Olam Nigeria has expressed its preparedness to enhance the agriculture sector of the country by up scaling the production and...
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Coronavirus: Facilities in FCT, Ogun, others not ready, FG deploys more doctors in airports
Isolation centres for potential patients suffering from the coronavirus disease are not ready in the Federal Capital Territory and some...
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Coronation Merchant Bank, IFC partner on N14bn facility
Coronation Merchant Bank has partnered with the International Finance Corporation (IFC) to a launch a N14.4 billion Trade Finance Guarantee...
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Naira falls N413 to dollar at forward market
The naira on Friday depreciated past N400 to dollar at the forward market after Nigeria recorded its first case of...
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DMO reports 458.2bn over-subscription in Feb. bonds auction
The Debt Management Office (DMO) has announced that Federal Government’s monthly bond auction for the month of February 2020, was...
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