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Seven banks fail CBN’s stress test
THE funding positions of seven commercial banks are inadequate, the result of Central Bank of Nigeria (CBN) stress test released on Thursday, has shown. The financial…
Oil, diamonds and nuclear power: Russia eyes Africa business
While Russia has traditionally focused on arms and grain exports to Africa, it is now looking to broaden its activities and influence.Here are four sectors likely to be discussed at the Russia-Africa Summit set…
Domino’s Pizza to exit foreign markets
Domino’s Pizza Group Plc, Britain’s biggest pizza delivery company, on Thursday said it would quit its loss-making international operations, sending shares higher in early trade. The…
FG plans new tax on Coke, Bigi, other soft drinks
Zainab Ahmed, the minister of finance, says the federal government is considering introducing excise duty on carbonated drinks. The minister made this known while addressing…
Seplat acquires Eland Oil & Gas for £382 million
Seplat Petroleum Development Company Plc has acquired Eland Oil & Gas Plc for a cash value of £382 million. Seplat, in a statement, noted that the boards of Seplat and Eland…
Dangote Group receives N120billion Bid for ‘Dangote Flour Mills’… as Shareholders applauds N24 per…
Shareholders of Dangote Flour Mills Plc (DFM), unanimously on Monday approved the acquisition of the company by Crown Flour Mills Limited, the Nigerian subsidiary of global food and…
Allow Only Legitimate Goods to Leave the Country, Igbo Traders Appeal to Buhari
Traders under the aegis of the South-East Amalgamated Markets Traders Association (SEAMATA) have appealed to President Muhammadu Buhari to allow only legitimate goods from the Nigerian markets to leave the…
Allow our goods to enter Nigeria – Ghana tells FG
Shirley Ayorkor Botchwey, Ghana’s foreign and regional integration minister, has asked the federal government to allow goods from her country into Nigeria. The…
Six modular refineries to commence operations – FG
The Federal government has disclosed that 6 modular refineries it licensed would soon commence operations in the country in fulfilment of President Muhammadu Buhari’s…
PFAs invests N1.03tn pension funds in banks
The Pension Funds Administrators increased the pension funds invested in the banking sector to N1.03tn as of the end of July.Figures obtained from the National Pension Commission revealed that this amounted to 11.03…
Niger Republic bans rice export to Nigeria
Niger Republic has banned the exportation of rice to Nigeria, following the closure of nation’s borders. At a press briefing in Abuja on Monday, Hameed Ali,…
Foreign Airlines Lobby Governors, Others For More Flight Services
In a time Nigerian carriers are shouting themselves hoarse to cut down on multiple designations to foreign airlines, the carriers are clandestinely lobbying the Ministry of Aviation for…
BREAKING: Customs orders complete border import, export ban
The Comptroller-General, Nigerian Customs Service, retried Col. Hameed Ali has insisted that all import and export of goods from the nation’s land borders remain banned until…
Scarcity of imported rice hits major markets, as dealers pack local rice in foreign bags
The latest Household survey carried out by Nairametrics Research showed that some rice dealers in major markets across Lagos State are reportedly packing…
IPMAN hails automation of downstream sector
The Independent Petroleum Marketers Association of Nigeria (IPMAN) Kano unit, has commended the launching of the automation of the downstream sector of the petroleum industry.The commendation is contained in a statement signed by…
World Bank, AfDB to give Ekiti $100 million loan to build airport, others
The Ekiti State Government has finally expressed its readiness to build an airport facility as part of efforts to attract investors to the state and make it the…
Rotten tomatoes line roads in Benin after Nigeria closes border
Nigeria closed its border with Benin on August 20 in an attempt to stop the smuggling of contraband goods, including food and petrol, across the border. This decision by Africa’s leading economic power has…
Boarder closure: Jigawa will soon be leading rice producer – Governor
The Jigawa governor Alhaji Muhammadu Badaru Abubakar has signed a Memorandum of Understanding (MoU) between the state government and the government of Huanan Province…
NNPC seals $2.5bn gas supply deal with NLNG
The Nigerian National Petroleum Corporation (NNPC) has challenged shareholders of the Nigeria Liquefied Natural Gas (NLNG) to work very quickly towards expanding the…
Youths targeted in nex tax drive
NIGERIAN youths have been hinted that they will form a large chunk of the 45 million tax payers by December 2019, a target set by the Federal Inland Revenue Services (FIRS). Tax…
Wike strikes deal with Ethiopia Airlines on permanent flights from Rivers
Rivers State Government and the management of Ethiopian Airlines have reached an agreement in principle for the operation of permanent international flights from the Port…
Federal government alleges cheating on oil profits, seeks $62 billion from five firms
The Federal Government says it expects about $62bn from multinational energy conglomerates that include Royal Dutch Shell, ExxonMobil, Chevron, Total and Eni, citing a 2018…
NERC asks DisCos to disconnect defaulting MDAs
The Nigerian Electricity Regulatory Commission (NERC) has asked electricity distribution companies (DisCos) to disconnect government ministries, departments and agencies (MDAs)…
Cashing in on the cashew nuts boom
Cashew nuts are some of the crops fuelling growth in the agricultural sector. Experts say almost three million tonnes are harvested worldwide yearly. According to Mordor…