Business

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…

The Central Bank of Nigeria sold yuan at a range of N49-51 at its first auction of the Chinese currency last week, traders said yesterday. The auction, which is part of an attempt to encourage the use of an alternative trading…

The Chairman of Zenith Bank Plc, Mr. Jim Ovia, has advised budding entrepreneurs not to be dissuaded by whatever challenges they might be facing presently, just as he narrated how he founded a bank with N20 million in 1990, despite the…

Nigerian electricity distribution companies (DisCos) distributed 93,219 prepaid meters between January and March, according to data from the power sector report of National Bureau of Statistics (NBS). The report said the number of…

Are you a young, talented hair stylist, makeup artist or fashion accessories designer, between the ages of 16-30 looking to grow your small business? Then, you’re in luck because the third season of FCMB’s #FlexxYourCreativity…

There is a lesson in the failures of foremost magnates, a didactic note for all. Consider the sad predicament of Wale Tinubu and Mofe Boyo. As you read, they are struggling through impediments and devastation posed by their company’s…

Oando Plc has continued to defy skeptics as it recorded N8.5 billion profit-after-tax (PAT) in its half-year (H1) results ended June 30, 2018. The impressive result comes in the wake of increase in the price of oil and gas commodities.…

The Department of Petroleum Resources (DPR) says the federal government approved the renewal of 25 oil block licenses and approved 16 new field development plans. NAN reports that the information was made available in the DPR report…