Business

The National Bureau of Statistics (NBS) says the revenue generated from Value Added Tax (VAT) from sectoral distribution from first to third quarters of 2018 was N808 billion.VAT is a consumption tax placed on a product whenever…

The plunge in Apple Inc’s share price will cause new pain for Warren Buffett’s Berkshire Hathaway Inc, after the conglomerate suffered a big quarterly decline in its net worth that will hit its bottom line.…

In a notice sent to the Nigerian Stock Exchange (NSE) and the general investing public, fertilizer producer, Notore Chemical Industries Plc has announced some changes to its board of directors. Chief Odoliyi…

Nigerians may have an immense love for the cinemas, going by statistics from the Cinema Exhibitors Association of Nigeria (CEAN) website. The statistics show Nigerians may have spent over N600 million at the…

The task of determining the daily consumption and subsidy on petroleum products has been taken over by the Petroleum Products Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC).The…

Forbes, an American business magazine, has ranked Nigeria as the 110th best country in the world for business. The magazine said it compiled the list by rating 161 countries on 15 factors: property rights,…

THE Federal Government generated over $2 billion from the renewal of oil block licences, Minister of State for Petroleum Resouces, Ibe Kachikwu, has said.Kachikwu, who noted that the funds will be used to implement the nation’s…

“Congratulations,” said the voice at the other end of the call. It was the fifth call Nere Teriba received in less than 10 minutes. There are also messages on her phone, which she plans to read much later. They…

Oil markets dropped by around one per cent in 2019’s first trading on Wednesday, pulled down by surging US output and concerns about an economic slowdown in 2019 as factory activity in China, the world’s biggest oil…

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, said that the country’s refineries had not undergone Turn Around Maintenance (TAM) for an aggregate of 42 years.…

Nigeria’s crude oil daily production is up by 9 per cent to about 2.09 million barrels. Nigerian National Petroleum Corporation (NNPC) Group Managing Director Dr. Maikanti Baru said this maintained a line of…

The Central Bank of Nigeria (CBN) yesterday intervened in the interbank sector of the foreign Exchange market, injecting $210 million into the wholesale segment and other sectors of the market. Figures released by…

A popular Nigerian business news blog has been exposed while trying to blackmail one of the fastest growing banks recently.Information filtering in revealed that the business news blog and its publisher (names withheld) recently…

Customers  of Access Bank and Diamond will  use their Automatic Teller Machine, ATM, cards for transactions with other banks without the usual charge as from January 1, 2019.Users on queue at a bank’s ATMAccording to the…

The dollar was broadly steady in thin year-end trading on Monday with the Australian dollar leading gainers as tensions over a trade dispute between the United States and China faded on expectations of progress in…

The Federal Inland Revenue Service (FIRS) remitted about N4.63 trillion to the Federation Account between January and November this year, revenue collection figures submitted to the Federal Ministry of Finance have…

A Federal High Court sitting in Lagos has given its final sanctions to the scheme of Merger between the Cement Company of Northern Nigeria and BUA Group’s Kalambaina Cement Company. According to a statement by…

A study carried out on the operational status of the over 5,000 kilometres of pipeline network belonging to the Nigerian National Petroleum Corporation (NNPC) across the country, has revealed that the pipeline…

THE Nigerian Communications Commission (NCC) yesterday faulted Lagos lawyer Mr. Femi Falana’s (SAN) claim that the country was losing about N600 billion due to the failure of the commission to issue “contract award…

The Chief Executive Officer, Access Bank Plc, Mr Herbert Wigwe, in this interview, spoke on a lot of issues surrounding the proposed merger between Access Bank and Diamond Bank Plc as well as the benefits of the merger to…

*More Nigerians are paying taxes. The taxpayers’ data base has expanded from 20 million to 35 million, the Joint Tax Board (JTB) said yesterday through its Executive Secretary Oseni Elamah. Elamah said the feat was…

WhatsApp groups have become a common feature among WhatsApp users. From teams, groups of friends to extended and nuclear family members discussing pressing issues and planning the next outing, WhatsApp group chats…

The Nigerian Stock Exchange (NSE) says 35 stockbroking firms have been expelled from the bourse. In a notice published in Punch newspaper, the exchange said the decision was reached after a special meeting of its…

The Nigerian National Petroleum Corporation,(NNPC) says it made a trading surplus of N9.85 billion in September 2018. The Corporation disclosed this in its monthly financial and operation report released in Abuja,…