Business

Oil prices rose on Tuesday as the U.S. reintroduced sanctions against major crude exporter, Iran, tightening global markets. Meanwhile, heatwave across Europe and other areas pushes oil up. Sweet Brent crude oil futures were at…

The Nigerian Securities and Exchange Commission (SEC) has proposed new rules to serve as guide to nominees companies operating in the country. In the document posted on its website on August 3, 2018 titled ‘Exposure of Sundry Amendments…

The Nigerian Stock Exchange (NSE) on Monday announced the suspension on trading in the shares of oil marketing firm, Conoil Plc. The suspension was disclosed in a circular signed by Godstime Iwenekhai, head, listings regulation…

Four hundred thousand farmers have so far been supported financially and technically to grow 12 crops under the Anchor Borrowers Programme (ABP) of the Central Bank of Nigeria (CBN). The initiative, operated through the Nigeria…

The Department of Petroleum Resources (DPR) generated over N747 billion from the issuance of licences/ granting of approval and royalties paid by oil and gas companies operating in the country among others for the federal government of…

Nigeria is poised to become the third largest exporter of gas worldwide, once the Nigeria Liquefied Natural Gas (NLNG) Train-7 plant kicks off in December, the company said Saturday. Tayo Ogini, NLNG general manager, production, made…

Nigeria has become the latest African country to step up its bid to adopt Chinese yuan as a reserve currency. Two months after agreeing a three-year $2.5 billion currency swap with China to boost its reserves and aid trade between both…

July was another encouraging trading month for the Nigerian economy, thanks to the stabilizing macroeconomic environment. Annual inflation eased for the seventeenth consecutive month, while positive core economic metrics pointed to…

The market capitalisation of the Nigerian Stock Exchange (NSE) appreciated on Thursday by N128 billion following the listing of Notore Chemical Industries Plc shares. The company listed on the exchange by introduction of a total of…

Apple Inc. shares rose 2.8 percent on Thursday, making the consumer technology giant the first U.S.-based company to be valued at $1 trillion, Bloomberg News reports. The iPhone maker’s market capitalization briefly passed $1…

The Blockchain technology has offered to make access to petroleum products in Nigeria affordable and seamless using its digital assets. Briefing newsmen in Lagos yesterday, the Country Director, Chuta Chimezie, said the technology,…

Crude oil prices dropped by over one per cent wednesday with the global benchmark crude, Brent slumping by $1.7 or 1.2 per cent, while the United States crude declined by $1.07 or 1.7 per cent after data showed that the United States’…

The Transmission Company of Nigeria (TCN) has received approval from the federal government to manage the N72 billion proposed investment in electricity distribution companies (DisCos). Usman Mohammed, managing director of TCN, made…

WhatsApp on Wednesday said it will start charging businesses for sending marketing and customer service messages, as the messaging platform faces slowing usage and revenue growth. Messages from businesses will be charged at a fixed…

The Central Bank of Nigeria (CBN) has set a five-year timeline for banks to keep physical cheque presented to them by customers after which the instrument may be disposed. This is contained in the Nigerian Bankers’ Clearing System…

THESE are not the best of times for the power sector. The sector has been swimming in troubled water in the past few months. It was initially between the electricity Distribution Companies (DisCos) and customers, who complain of…

FCMB Bank (UK) Limited, an independently incorporated subsidiary of First City Monument Bank Limited (which is a member of FCMB Group Plc), has introduced its Personal and Business banking proposition in London, United Kingdom and…

In the oil and gas industry, Dr. Luqman Kayode’s name evokes a mixture of admiration, envy and respect. He runs CAMAC Holdings, comprising CAMAC International Corporation, CAMAC Energy Inc and Allied Energy Corporation, in the United…

The disagreement between the Federal Government and power distribution companies continued on Tuesday, with the Discos threatening to quit the sector and expressed willingness to resell the power assets at discounted rates. Investors…

The ride-hailing business Uber has shut its self-driving trucks division to focus solely on its research with autonomous cars. Although the division had completed a delivery of Budweiser beer in 2016, it is now shutting down as the…

The organised labour has called on the Federal Government to immediately review the privatisation of the power sector and revoke the licences of Electricity Generation Companies, GENCOs and Electricity Distribution Companies, DISCOs, to…

Sanusi Ohiare, executive director of rural electrification fund, Rural Electrification Agency (REA), says an estimated N5trn is expended yearly on importing, fuelling and maintaining generators by businesses in the country. He said…

Nigerian Breweries says it recorded a 22 percent decline in profit after tax for the half year ended June 30. This is according to the company’s unaudited result submitted to the Nigerian Stock Exchange (NSE) for the period under…

The oil output of the Organisation of Petroleum Exporting Countries (OPEC) has risen this month to  it highets as Gulf members pumped more after a deal to ease supply curbs and Congo Republic joined the group. This is even as losses…