Business

Nigeria expects at least $2.8 billion in additional revenue from expected gains in oil prices after OPEC+ members agreed to cut crude production. “This historic intervention when concluded will see…

Following the Organisations of Petroleum Export Countries virtual meeting today, Saudi Arabia and Russia have struck a deal on a deep output cut. Reuters stated that the cut amount to 10 million barrels per day (bpd) or 10% of global…

China’s Supreme Court has ruled in favour of basketball legend Michael Jordan in a long-running trademark dispute, ending an eight-year legal battle with a Chinese sportswear firm that illegally used…

Private investors are not eager to import the Premium Motor Spirit (PMS) despite the decline of the products following the fall of crude oil in the international market, The Nation learnt on Wednesday.…

Oil steadied near $32 a barrel on Wednesday, supported by hopes that a meeting between OPEC members and allied producers on Thursday will trigger output cuts to shore up prices that have collapsed due to the coronavirus…

The Nigerian Government has revoked Oil Mining Licences (OML) of 11 oil and gas companies operating in the Marginal Fields. The Guardian learnt that the affected companies include…

The Federal Government will be sourcing for over ₦2.67trillion to fully execute the COVID- 19 stimulus. This is aside the ₦500 billion already earmarked for the stimulus package.…

The Government has put created a framework for the collection, management and reporting of COVID-19 donations. According to the Minister of Finance, Budget and National Planning Zainab Ahmed, the…

Dangote Cement Plc, Africa’s leading cement manufacturer, is seeking to raise up to N100 billion in fresh funds from the bond market, under its NGN300 billion Debt Issuance Programme. …

OPEC and Russia have postponed a meeting planned for Monday until later next week, OPEC sources said on Saturday, as a row intensified between Moscow and Saudi Arabia over who is to blame for…

This year’s Forbes list of top-earning wrestlers has been released and surprisingly, Brock Lesnar sits atop the list with Roman Reigns coming second. The ten wrestlers who made the list pulled in a combined $38.5 million before taxes…

Juventus talisman Cristiano Ronaldo will become the third sportsman in the world after golf star Tiger Woods and boxer Floyd Mayweather Jr to have earned $1bn during his career. The Old Lady announced a…

FCMB Group Plc has announced its financial results for the year ended December 31, 2019. The audited results showed that the Group's gross revenue increased to N188 billion compared…

Mexico’s Grupo Modelo said on Thursday it will temporarily stop brewing Corona beer and other brands exported to 180 countries after its business activities were declared non-essential under a…

The International Air Transport Association (IATA), on Thursday, projected a potential revenue loss by airlines in Africa and the Middle East to have reached US$23 billion (N8.74…

The Independent Petroleum Marketers Association of Nigeria (IPMAN) yesterday urged the Department of Petroleum Resources (DPR) to compel private depots owners to operationalize the new pump price of…

Mr Atedo Peterside Wednesday resigned from the board of directors of Nigerian Breweries Plc. The company secretary, Mr Uaboi Agbebaku, has informed the Nigeria Stock Exchange of the resignation.…

First City Monument Bank (FCMB) has announced a temporary suspension of the season seven edition of its promotion for savings account customers tagged, ‘’FCMB Millionaire…

The value of a country’s currency should, irrespective of whether it is operated on a fixed, floating or managed-float currency regime, depict the performance of the country’s economy and how long the country can maintain the…

In view of the coronavirus pandemic altering socio-economic activities around the world and as part of the on-going efforts to mitigate the effect on businesses and taxpayers, the Lagos State Internal Revenue Service (LIRS) has extended the…

The South African rand plunged to a record low after Moody’s downgraded the government’s debt before recovering slightly Monday. This came after the credit rating agency cut South Africa’s rating below investment grade, citing a…

With effect from today, the Central Bank of Nigeria (CBN) has suspended the clearing of all cheque instruments in the Nigerian clearing system. A circular signed and sent out to…

Nigeria’s local currency, the Naira, depreciated to N410 to the US dollar on the Parallel market on Friday in the face of looming uncertainties in the foreign exchange market. This comes as a consequence of the suspension of FX sales…

The Nigerian Ports Authority has directed all Terminal operators to suspend all applicable terminal storage fees on consignments (demurrage) for an initial period of twenty-one days effective March 23, 2020.…