Category Archives: Business News

Finance Ministry sets to Enhance Transparency in FAAC

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Finance Ministry sets to Enhance Transparency in FAAC

  In order to improve accountability, the Federal Ministry of Finance has disclosed that it has taken steps to strengthen and increase the capacity of the Post-Mortem sub-Committee of the Federation Account Allocation Committee (FAAC). This action is sequel to the approval at the last FAAC meeting that three independent and experienced financial analysts, who […]

Nightly Business Report — March 13, 2015

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Tonight on Nightly Business Report, what’s behind the big swings on Wall Street as stocks take another tumble. And, the stocks our market monitor guest says will provide your portfolio some stability in this volatile market.

Nightly Business Report – March 14, 2016

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Tonight on Nightly Business Report, how this presidential campaign is impacting the outlook for the economy. And, a major Chinese company is making a big push into the U.S. real estate market.

Customs impound arms shipment at Tin Can Port

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The Tin Can Port Command of the Nigeria Customs Service has impounded a shipment of arms consisting of a pistol and 980 rounds of ammunition. The Customs Area Controller of the command, Yusuf Bashar, said the weapons, which originated from the United States, were concealed in a container with other personal effects, including two cars. […]

Amaechi, others for maritime summit

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The Minister of Transportation, Rt. Hon. Rotimi Amaechi, and former Minister of Information, Mr. Frank Nweke Jnr, are among the dignitaries expected to speak at the maiden edition of the International Maritime Summit scheduled to commence in Lagos on Monday. The summit seeks to highlight the economic prospects of the maritime sector as Nigeria grapples […]

Maritime to contribute 25 per cent of budget, says Amaechi

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Maritime to contribute 25 per cent of budget, says Amaechi

The Federal Government  has said it expects the maritime sector to contribute at least one quarter, or 25 per cent of the total  funding of the national budget next year. The Minister of Transport, Rotimi Amaechi who spoke yesterday in Lagos, said  the government has set N500billion revenue target for agencies in the maritime sector […]

Ex-minister to build refinery in Lagos

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Ex-minister to build refinery in Lagos

A former Interior Minister and Executive Chairman, Genesis Shipping Worldwide, Capt Emmanuel Iheanacho, is to float a refinery in Lagos to boost local participation in crude oil lifting, it has been learnt. The parcel of land for the facility, it was gathered, was bought from the Onisiwo Family of Irede, a coastal town at the […]

Dangote takes over Tiger Branded Consumer Goods

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To revert to Dangote Flour Mills Alhaji Aliko Dangote’s Dangote Industries Limited (DIL) has acquired 65.6 per cent majority equity stake in the former Dangote Flour Mills Plc, now rebranded Tiger Branded Consumer Goods (TBCG) Plc, from Tiger Brands Limited, the South African core investors. A cross deal for the transfer of more than 3.28 […]

DStv adds EPL, La Liga, Euro 2016 to Compact Bouquet

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DStv adds EPL, La Liga, Euro 2016 to Compact Bouquet

We ‘ll comply with CPC’s order on compensation’ MULTICHOICE Nigeria, owners of DStv, yesterday announced a slash in the prices of its bouquets as well as introduction of two new sport channels. The new channels – Super Sport 11 (DStv Channel 231) and Super Sport 12 (DStv Channel 232) – will be dedicated to showcasing […]

Mars and Snickers Bars Recalled Over Plastic Scare

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Mars and Snickers Bars Recalled Over Plastic Scare

US confectionery giant Mars has ordered a full recall of a number of its most popular chocolate bars in the UK, and several other European nations. Customers are warned not to eat any Mars or Snickers bars or Celebration boxes with best before dates from June 2016 to January 2017, as they may contain plastic. […]