Business

The feasibility study for the construction of the Nigeria-Morocco Gas Pipeline that will supply gas to at least 15 countries in West Africa has been completed. This was made known by the Group Managing Director of the Nigerian…

Oil prices rose for a third day on Thursday pushed up by lower imports into the United States amid OPEC efforts to tighten the market as well as Venezuela struggles to keep up its crude exports after Washington imposed sanctions on…

The Cola-Cola Company has completed the acquisition of Chi Limited. In a statement on Wednesday, Coca-Cola announced that it has extended its minority investment in the company to full ownership.

The Central Bank of Nigeria (CBN) has issued a directive for the commencement of the end-to-end electronic payment of salaries, pensions, suppliers and taxes in the country. The CBN issued the directive in a circular posted on…

The Seme Border Command Area Controller, Nigerian Customs Service, NCS, Comptroller Mohammed Uba, has disclosed that the command generated a total of  N6.3 billion revenue in 2018. This represents about 76% of the revenue target…

Members of the House of Representatives on Tuesday set the new National Minimum Wage as N30,000. They reached the decision a day after conducting a public hearing on the bill for a new national minimum wage. The lawmakers at…

A new report by Guaranty Trust Bank says the decision of the Central Bank of Nigeria to license telecommunications companies for payment services is a threat to banks operating in the country. In its report, Nigeria…

Aliko Dangote, president of Dangote Group, says his investment in the sugar sector will create 150,000 jobs and place Nigeria on the global map of sugar producers. Dangote said this on Monday in Lagos during the 2018 Dangote…

Vice President Yemi Osinbajo has said the country plans to establish an Entrepreneur Bank to provide flexibility in provision of facilities to businesses. Osinbajo disclosed this while fielding questions from a cross-section of…

The Nigeria Customs Service is seeking a reduction in the tariff for imported vehicles from the current rate of 70 per cent of the cost of such vehicles to 45 per cent. The Comptroller-General of Customs, Col Hameed Ali (retd.)…

The Organised Private Sector, a body of employers in the private sector of the economy, has said it agrees with a new minimum wage of N30‎,000 as recommended by the tripartite committee set up by President Muhammadu Buhari. The…

The OCP Fertilisers Nigeria Limited said it is establishing two industrial fertiliser plants worth $1b this year, to complement government’s effort to boost local production. Managing Director of the company, Muhamed Hettiti…

The Murtala Mohammed Airport Command of the Nigeria Customs Service said it recorded exceptional revenue generation in the first 10 days of this year. In a statement by the Customs Area Controller, Shoboiki Jane, it said the…

Nigerian telecommunication multinational, Globacom Nigeria Limited has grown its subscribers’ base from 43,237,188 in November 2018 to 45,255,297, representing 26.24 percent of the total telecom subscribers in the country. This…

Business mogul, Aliko Dangote, says the Executive Order 007 signed by President Muhammadu Buhari on Friday will make businesses run smoothly and more profitably. Africa’s richest man also said the new order, tagged Road…

The Nigeria Labour Congress (NLC) has stressed that it would not accept the N27,000 minimum wage agreed upon by the Council of State.  The Nigerian government had also proposed the N27,000 figure as national minimum wage,…

The Federation Account Allocation Committee (FAAC) says it disbursed a sum of N8.03 trillion to the Federal and State Governments in 2018. Figures obtained from the National Bureau of Statistics, NBS, on Friday showed that FAAC…

Top dignitaries from around Lagos, Nigeria, and Africa will converge in Ikeja, the State Capital, during the Grand Finale of Miss Inspire Nigeria beauty Pageant, slated to hold on March 2, 2019.Speaking with the Project Director…

The federal government says the N30,000 figure proposed by the tripartite committee for the new national minimum wage is a mere recommendation to the president. In a statement on Friday Illiya Rhoda, an assistant director in the…

Ngozi Okonjo-Iweala, two-time finance minister and former vice-president of the World Bank, says she is ready to lead the World Bank if nominated for the job. Speaking on the sidelines of the World Economic Forum in Davos,…

The Maize Association of Nigeria says it will involve no fewer than 500,000 of its members in the Central Bank of Nigeria’s Anchor Borrowers’ Programme in 2019. The National President of MAAN, Alhaji Bello Abubakar, told the…

The federal government has given International Oil Companies (IOCs) operating in Nigeria’s deep offshore and inland basin a 14-day ultimatum to pay all outstanding revenues on Production Sharing Contracts (PSCs). The government…

Digital Afrique Telecom (DAT), currently operating in over 20 countries in Africa, has launched Tax Collect, an interoperable platform for collecting municipal taxes. This multi-channel payment gateway allows taxpaying customers…

The Debt Management Office (DMO) says the Federal Government is to auction by subscription N150 billion worth of bonds on Jan. 30. The DMO said in a circular on its website on Wednesday in Abuja, that the five-year re-opening…