Business

The Nigerian National Petroleum Corporation, NNPC, yesterday, announced a trading surplus of N2.06 billion for November 2018, as against the previous month’s deficit of N12.66 billion. In a statement on its November 2018…

AHEAD of next week Presidential and National Assembly elections, Nigeria Labour Congress, NLC, Tuesday in Abuja, warned the political class planning to sell the nation’s refineries to prepare for a battle with Organised Labour,…

Dangote Group, the Nigeria Liquefied Natural Gas Limited (NLNG), and four other companies have joined in on the federal government drive to build infrastructure across Nigeria. The companies, which also includes Lafarge…

Audu Ogbeh, minister of agriculture and natural resources, says the federal government will place a final ban on the importation of tomato paste before the end of 2019. Speaking in Kano during a tour of the Dangote Tomato…

The chief executive of cryptocurrency company, Quadriga CX has died with all the passwords necessary to to unlock all his customers’ bitcoins. Without their digital keys, his clients lose access to their funds. The company’s…

Two years into Donald Trump’s presidency, the man who has profited most from the era is his foremost nemesis in the business world, Amazon.com Inc. founder Jeff Bezos. Trump has repeatedly vilified Bezos, threatening his company…

In what could be described as a bold step to consolidate its hold in the beverage industry, global carbonated soft drink manufacturer, The Coca-Cola Company has completed the acquisition of Chi Nigeria Limited. The acquisition…

The Central Bank of Nigeria, CBN, has refuted a front-page news story of Business Day which claims that faceless agents pocket over N32bn annually in profit from the foreign exchange market with the aid of CBN officials. The…

The President of Dangote Group, Alhaji Aliko Dangote, has said premium motor spirit (PMS) or petrol that will be refined from Dangote Refinery will not be sold at Federal Government’s regulated price. This ends the speculation…

Nigeria’s foreign assets as well as its oil vessels in international waters are at risk as a British company moves to enforce a $9bn arbitration award against the country over a breach of contract, TheCable can report. Process…

The newly launched Hub One situated in the heart of Yaba Lagos The Nigerian Tech industry has grown in leaps and bounds over the years. Many innovative ideas, platforms and more have been developed, which have provided more job…

Against the backdrop of the worsening public power supply, new data have emerged showing that manufacturers in Nigeria spent a total of N246.38bn generating their own electricity between 2016 and 2017. Further analysis of the…

Conglomerate giant PZ Cussons Nigeria Plc says it is not leaving Nigeria and that claims of its departure from the country is totally false. The Chief Executive Officer (CEO) of PZ Cussons Mr. Christos Giannopoulos in a…

The Chairman of Zenith Bank Plc, Mr. Jim Ovia, has lauded the federal government’s economic team for pulling the economy out of economic recession, acknowledging that the country’s economic outlook shows that it is now on a growth…

The Manufacturing Purchasing Managers’ Index (PM) stood at 58.5 index points in January. This indicated an expansion in the manufacturing sector for the 22nd consecutive month. According to the PMI report for January released…

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…