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Hyundai to set up car plant in Nigeria
Hyundai Engineering Company Limited is about setting up a car plant in Nigeria. Chang Hag Kim, chief executive officer of Hyundai Engineering, disclosed this when he led top…
BREAKING: Food gets cheaper in Lagos, Ondo but inflation hits 11.85%
Data made available by the National Bureau of Statistics has shown that the consumer price index that measures inflation increased to 11.85% in November. According to the…
International customers owe Nigeria N11.17b electricity bill
The Nigerian Electricity Regulatory Commission (NERC) has said that in second quarter 2019, international customers owed Nigeria electricity bills totally…
Dangote Petroleum Refinery to save $11b for Nigeria – Minister
MINISTER of Finance, Budget and National Planning, Mrs Zainab Ahmed, has said Dangote Petroleum Refinery will save the nation $11 billion. The…
NNPC records trading surplus of N5.20b
THE Nigerian National Petroleum Corporation (NNPC) has announced a trading surplus of N5.20billion for August. It reflects an increase of 22 per cent when compared…
Bankers’ Committee classifies BVN for poor, rich customers
The Bankers’ Commit-tee has commenced Bank Verification Number (BVN) classification plan that will allow the rich and poor in rural areas have access to…
‘You cannot cheat Nigeria’ — TCN asks Togo, Benin to pay $9m electricity bills
The Transmission Company of Nigeria (TCN) has asked its international electricity customers to pay $9 million outstanding power bills. Speaking in Abuja, Usman…
GTB moves to seize assets of Sunil Vaswani, Stallion Group over N12b debt
A Federal High Court in Lagos has granted an order protecting the receiver appointed by Guaranty Trust Bank, Plc Mr Gbenga Akinde-Peters, to take over all fixed and…
Porsche gets 30,000 down payments for new electric car
Some 30,000 drivers have made down payments for Porsche’s first electric car, according to the high-end automaker’s chief executive. Those customers in Europe have plunked down 2,500…
Saudi Aramco valued at $2 trillion, beats Apple
Saudi Aramco stock defied skepticisms Thursday by soaring for a second day, topping the $2 trillion target sought by Saudi leader Crown Prince Mohammed bin Salman.…
Refund to bank customers stand at N76.7bn, $20.9m – CBN
The Central Bank of Nigeria (CBN) says the worth of money refund to bank customers as at Nov. 30 stood at N76.75 billion and 20.90 million dollars. Mr…
TAJBank Unveils Second Branch in Kano
TAJBank, Nigeria’s newly licenced non-interest bank has announced the launch of its second branch in Kano State. The launch, which held at the bank’s office in Kano,…
New brands of local rice flood major markets, as prices of major items drop
The local price of rice recorded a significant drop after weeks of price hikes following the closure of Nigerian land borders. Latest Nairametrics Food Price Survey reveals more brands of local rice have now flooded major markets in the…
Border Closure Has Prevented Neighbouring Countries From Killing Our Economy – Indimi
The Founder, Oriential Group, the parent company of OER Farms Ltd , Dr. Muhammadu Indimi has said that the closure of borders by the federal government of Nigeria prevent the nation’s neighbouring countries…
$1.06b Malabu oil block: Govt, EFCC, Interpol in row over Adoke
THE International Police (INTERPOL) has rejected the request of former Attorney-General and Minister of Justice Mohammed Bello Adoke for release from its custody in…
Arsenal announce £30million loss in matchday revenue
Arsenal have announced a £30million loss in matchday revenue for the year ending May 31 2019. Having previously posted a pre-tax profit of £97.4million, the club have now revealed a pre-tax loss of £23.5million, as…
Price of Bonny Light hits $65.47 per barrel
The price of Bonny Light, Nigeria’s premium oil grade, has risen from $63.00 to $65.47 per barrel as the Organisation of Petroleum Exporting Countries, OPEC, cuts output by…
OPEC Agrees to Slash Output Target by 500,000b/d
The Organisation of Petroleum Exporting Countries (OPEC) yesterday in Vienna, Austria agreed to reduce its output target by 500,000 barrels a day.At the 7th OPEC and non-OPEC Ministerial Meeting, which ended…
UK court rejects registration of Ogoni suit judgment against Shell
A United Kingdom court on Thursday, December 5, 2019 dismissed the application by some leaders of Ejamah Ebubu community in Ogoniland to register the judgement of a…
Lagos okays N250m for research, innovation council
THE Lagos State government on Thursday said it has voted N250million for its agency for speeding up innovation, the Lagos State Science, Reasearh and Innovation…
South African Airways secures state-led rescue
South African Airways was placed under a state-led rescue plan on Thursday as part of a massive restructuring following a costly week-long strike last month.Thousands of South African Airways (SAA) staff walked out…
Stanbic IBTC attracts $1.6b capital Inflow in Q3, says NBS
STANBIC IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has emerged as the financial institution that attracted the highest amount of…
World’s Biggest Oil-Refining Tower Completes 11,000-Mile Voyage
It’s the length of a soccer field and the weight of 320 large elephants, but the world’s biggest oil-refining tower has finally reached its destination -- Nigeria -- after an 11,000 mile voyage.The…
Banks’ loans to private sector now N16.25trn
The value of credits allocated to the private sector by Nigerian banks hit N16.25 trillion as at the third quarter of 2019.Data on Electronic Payment Channels in the Nigeria Banking Sector released yesterday by…