Category Archives: Business News

EU’s ban of Nigerian beans spurs quality control

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The European Union’s three-year ban on the importation of dry beans from Nigeria has pushed the Federal Government to commence an advocacy on agricultural quality control and standardisation across the six geo-political zones of the country. The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, said on Friday that the nationwide advocacy had become […]

Solar, fastest growing energy source globally – Report

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The International Energy Agency has revealed that the quantum of power from solar has grown by more than 50 per cent, and has officially increased energy output globally at a faster rate than any other fuel The IEA’s 2017 report on renewables confirmed that solar was now the fastest growing energy source in the world […]

FG to continue airport remodelling despite concession plans

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Indications have emerged that the Federal Government’s plan to upgrade all the 22 airport terminals in the country will not be affected by the proposed concession of some of the airports. Our correspondent had reported that with the failure of the airports remodelling project of the former administration, the President Muhammadu Buhari administration had said […]

Customs seize 3,665 vehicles worth N13bn from smugglers

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A total of 3,665 vehicles with duty paid value of N13.164bn were seized by the Nigeria Customs Service between 2015 and 2017, the Comptroller-General of Customs, Col. Hameed Ali (retd.), has said.. Ali stated this in a lecture on ‘Problems of smuggling and its consequences on the Nigerian Economy: The way out’, at the IBB […]

Nigeria’s electricity law near perfect – Fashola

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The Electric Power Sector Reform Act that was passed in 2005, which serves as Nigeria’s electricity reform law, is one of the best in the world and is almost perfect, the Minister of Power, Works, and Housing, Babatunde Fashola, has said. He stated this at the 2017 Power Africa Nigeria Conference in Abuja on Thursday, […]

Buhari appoints new CBN deputy governor, MPC members

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President Muhammadu Buhari has appointed Mrs. Aisha Ahmad as a deputy governor of the Central Bank of Nigeria. According to a statement on Thursday by his Special Adviser on Media and Publicity, Mr. Femi Adesina, the President had presented Ahmad to the Senate for confirmation. Adesina said Ahmad would replace Mrs. Sarah Alade at the […]

We’ll keep supporting ICT contest among pupils – Zenith GMD

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The Group Managing Director of Zenith Bank Plc, Mr. Peter Amangbo, has said that the bank will continue to support the Microsoft Office Specialist World Championship among school children in Nigeria. Speaking during the 2017 ReadManna Awards held in Lagos on Wednesday, Amangbo praised the ReadManna Empowerment Initiative for successfully organising the annual event for […]

11 Nigerians achieve distinction in Business School Netherlands

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Eleven Nigerians have scored distinctions in their final dissertations in the Executive MBA programme of the Business School Netherlands, while two others bagged overall distinctions this year. The institution, which is preparing to graduate its 2017 set in The Netherlands, made this known in a press statement on Thursday. According to the statement, 74 new […]

FG releases N100bn to contractors for Ibadan-Ilorin road, 24 others

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The Federal Government on Thursday completed the process required for the funding of the reconstruction and rehabilitation of 25 major economic roads in the six geopolitical zones of the country, using the N100bn sovereign sukuk. According to the government, each geopolitical zone is to get an equal amount of N16.67bn for the rehabilitation of selected […]

Investors gain N143bn as 31 stocks appreciate

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Investors in the country’s equities market on Thursday recorded N143bn advancement on their holdings at the close of trading on the floor of the Nigerian Stock Exchange. A total of 31 gainers emerge, while 14 stocks declined. Investor sentiment further strengthened as a total of 317.440 million shares worth N2.853bn exchanged hands in 3,327 deals. […]