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Dangote’s $60m cement plant in Togo
Dangote Industries Limited has signed a business deal with the Government of Togo (GoT) to make phosphate into fertiliser and build a cement factory in the West…
Bonga oil block: NNPC battles firm over N8.14b judgment cash
THE Nigerian National Petroleum Corporation (NNPC) is asking the Supreme Court to review a $22,630,000 (N8, 146, 800,000) damages verdict against it. The apex…
We won’t fund Mambilla power until Nigeria settles legal dispute – China
The Chinese government has asked Nigeria to settle the legal dispute over the $5.8 billion Mambilla power failing which it would not provide the funds for the project. In 2006, the…
Britain’s credit rating slips to negative
Credit ratings agency Moody’s on Saturday downgraded the outlook for Britain’s debt, citing mounting policy challenges amid the Brexit debate. The agency cut the outlook to negative…
Border closure: Ogun rice traders laud federal government’s policy, seek price regulation
Some rice traders at Ota in Ogun on Saturday attributed the current hike in the price of local rice to unregulated activities of middlemen distributing the commodity…
NDIC pays N100bn liquidation dividends
The Nigeria Deposit Insurance Corporation (NDIC) said it had paid over N100 billion as liquidation dividends to depositors of closed Deposit Money Banks (DMBs), in the last 30 years,…
Oil companies weigh options after Buhari’s PSC Act assent
President Muhammadu Buhari earlier in the week signed the Deep Offshore and Inland Basin Production Sharing Contract (PSC) Amendment Bill into law, putting to rest decades of calls for review of the PSC…
Banks’ loan cut slows revenue growth – Report
NIGERIAN banks have continued to face lower margins, increased competition, often encouraged by regulators and cut in loans which have led to drop in revenue, a new report by…
INFOGRAPHICS: Thailand’s rice export to Nigeria’s border countries drops
Rice exports from Thailand to countries that share borders with Nigeria has recorded a decline from 2018 levels. TheCable’s analysis of the data provided on the Thai Rice Exporters…
Border Closure Bites Hard On Rice, Textile Shops In Benin Republic
Investigation by our reporter has revealed that the major textile and rice markets in Cotonou, Benin Republic, have seen a massive decline in patronage following the complete closure of…
Wealth of world’s richest people falls for the first time in a decade
The world’s richest people became a little less well off last year, according to a report by UBS and PwC, as geopolitical turmoil and volatile equity markets reduced the wealth of billionaires for the first time in a…
Beer drinkers to pay more as brewers mull price increase this month
Beer drinkers in Africa’s most populous country will soon be paying more for their cherished bottles or cans as major players in Nigeria’s beer industry have indicated plans to increase…
House of Reps probe central bank’s $7 billion to banks from foreign reserve
The House of Representatives has begun investigation of the non-refund of $7bn withdrawn from Nigeria’s foreign reserves by the Central Bank of Nigeria in 2006 to pay banks and…
Drake joins the marijuana industry
Drake, Canadian rapper and record producer, has signed up with his country’s biggest cannabis producers to launch a fully-licensed joint venture to produce and distribute marijuana.…
No competition with Dangote, says NNPC
Group Managing Director, Nigeria National Petroleum Company (NNPC) Mele Kyari at the recent tour of Dangote Petroleum Refinery said the government was working to…
Total Oil Set To Sell $750 Million Stake in Major Nigerian Oil Block
Total is seeking to sell its 12.5 per cent stake in a major deepwater oilfield off the coast of Nigeria, industry and banking sources have said. The plan is reportedly an effort to…
Ndukwe quits Access Bank board
MR Ernest Ndukwe on Tuesday relinguished his directorship from Access Bank as as an independent Non-Executive Director. This was contained in a statement issued by Mr Sunday…
Understanding North-East oil find
For those eager to see the commencement of oil production in the Kolmai II River well, they have to wait for the Nigerian National Petroleum Corporation (NNPC) and…
Another $1.2bn liability dangles over Nigeria as Azura power deal wobbles
Nigeria’s penchant for signing agreements that end up putting the country on the back foot continues to haunt the federal government as another power deal wobbles, TheCable can…
Border closure: Why federal government’s decision is in Nigeria’s best interest – Stakeholders
In August this year, the Federal Government shut down the country’s land borders in a bid to check smuggling of goods, especially rice, light arms, automobiles and other…
Border closure saves poultry industry N50bn
THE closure of land borders has saved the local poultry industry more than N50 billion and the rice industry, experts have said. Although the move appears to violate the…
Border closure: Nigeria gets tough with ECOWAS, bans repackaged imported goods
The Federal Government has listed five conditions for reopening of the country’s land borders for goods importation from neighbouring countries.As one of the conditions, the Federal Government said Nigeria would…
BREAKING: FG sets conditions for reopening of borders
The federal government has given conditions for the reopening of borders. It insisted ECOWAS countries must respect rules of origin, vowing it Nigeria will no longer tolerate…
USSD Controversy: Inside details of agreements by banks, telecoms operators
In spite of the suspension order by the government, the controversy continues over MTN’s alert to its customers on the decision to commence end-user billing…