News - Business and Economy

NNPC Subsidiary Posts N6.75bn Profit In 2018

10 hours ago /

The National Engineering and Technical Company Limited, NECTO, a subsidiary of the Nigerian National Petroleum Corporation has posted a total profit of six point seven five billion naira in 2018.

CBN Funds Cotton, Textile And Garment Value Chains In South East, South South

2 days ago /

The Governor of the Central Bank of Nigeria, Godwin Emefiele has emphasized the need for diversification of the economy for the rapid growth of the country's economy and reduction of unemployment.

NDDC Reaffirms Commitment To Sustainable Regional Development

6 days ago /

The Acting Managing Director of the Niger Delta Development Commission, NDDC, Professor Nelson Brambaifa says the commission will work closely with Niger Deltans in order to achieve sustainable regional development.

Putin Says U.S. and Russia Relations Are Worse

6 days ago /

President Vladimir Putin said relations between Moscow and Washington are getting worse, noting in an interview published on Thursday that the current U.S. administration had imposed dozens of sanctions on Russia.

Campaign Groups Petition Banks Over Ugandan Oil Sector

1 week ago /

A group of 30 international and local campaign groups have petitioned two banks to abandon plans to raise funds to build an oil pipeline to export Ugandan oil, saying the project would damage local livelihoods, water resources and wildlife.

Gov.Ayade Says CBN Places N3billion Rice Seedling Order In Calabar

2 weeks ago /

The Central Bank of Nigeria, CBN has placed rice seedlings order worth three billion naira from Cross River State government to supply seedlings to states in southern Nigeria as part of wet planting season programme.

Ugwuanyi Promises Massive Infrastructure Development In Second Term

3 weeks ago /

Enugu State Governor, Ifeanyi Ugwuanyi has been sworn into office for a second term.

China’s Huawei Technologies Files Motion In Lawsuit Against Government

3 weeks ago /

China’s Huawei Technologies Co Ltd has filed a motion for summary judgment in its lawsuit against the U.S. government, in the telecoms equipment maker’s latest bid to fight sanctions from Washington that threaten to push it out of global markets.

MTN Suffers First Share Price Fall, Dropping ASI 1.9%

3 weeks ago /

MTN Nigeria Communications Plc on Friday suffered its first share price fall since listing on the Nigerian Stock Exchange, NSE.

Minister Hands Over Ogoni Sites To Contractors

3 weeks ago /

The Minister of Environment, Suleiman Hassan has handed over the remaining five sites in Eleme and Tai to contractors for the remediation of the impacted land in Ogoni land.

CSO Condemns Bill Criminalizing Electricity Theft

3 weeks ago /

Members’ of the Civil Society Group in Edo State have called on the State Assembly to throw out a bill to criminalise electricity theft which recently scaled third reading.

Bayelsa Oil Communities Accuse Regulatory Agencies Of Complicity In Pollution

3 weeks ago /

Oil ravaged communities in Bayelsa State have accused the Department of Petroleum Resources (DPR), National Oil Spills Detection and Response Agency (NOSDRA),  and other regulatory bodies of conniving with oil multinationals in the destruction of their environment.

Trump Lost Bid Blocking His Release Of Financial Records

3 weeks ago /

U.S. President Donald Trump, three of his children and the Trump Organization on Wednesday lost their bid to block Deutsche Bank AG and Capital One Financial Corp from providing financial records to Democratic lawmakers investigating Trump’s businesses.

Mobile Phone Retailers In Some Asian Countries Shun Huawei Devices

3 weeks ago /

Mobile phone retailers in some Asian countries are refusing to accept Huawei devices for trade-ins, as more consumers look to offload their device on worries Google's suspending business with the Chinese firm will disrupt services.

Udoma Optimistic About Nigeria’s Economic Growth

4 weeks ago /

Nigeria ‘s Minister of Budget and National Planning, Udoma Udo Udoma says the 2019 first quarter performance of 2.01 percent represents the strongest since 2015 and is encouraging, although the economy slowed from 2.38 percent in the preceding quarter.

Nigeria Loses N15bn Yearly To Sub-standard Products – SON

4 weeks ago /

Nigeria loses about fifteen billion naira annually as a result of substandard products which ranges from drugs, electrical and electronic household appliances, building materials, tyres and tubes, automobiles, machine spare parts, to food and machines that continue to find their way into the Nigerian market.

Adamawa To Sue Zenith Bank For Breach Of Contract

4 weeks ago /

Barely a week to the expiration of Governor Jibrilla Bindow’s administration, the Adamawa state government says it will take legal action against Zenith bank for the delay of April salary. The decision was made after the state executive council meeting presided over by the Deputy Governor, Martins Babale.

Ondo Oil Well Inferno Rages 36-days On

4 weeks ago /

The Ondo State House Of Assembly has urged the management of Chevron to be more proactive in putting out the 36-day old oil well fire at Ojuimole community in Ilaje Local Government Area of the state.

China’s Stock Falls After US Report Could Ban Another Tech Firm

4 weeks ago /

China’s major stock indexes fell on Wednesday, as trade worries intensified following a report that the United States could blacklist another Chinese tech firm after banning Huawei Technologies last week.

Nigeria’s GDP Grows At 2.01% In Q1, 2019-NBS

1 month ago /

Nigeria’s Gross Domestic Product (GDP) stands at 2.01% in the first quarter of 2019.

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