News - Business and Economy

Campaign Groups Petition Banks Over Ugandan Oil Sector

8 months 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

8 months 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

8 months 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

8 months 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%

9 months 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

9 months 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

9 months 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

9 months 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

9 months 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

9 months 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

9 months 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

9 months 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

9 months 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

9 months 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

9 months 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

9 months ago /

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

Nigeria Supports Take-off Of ECOWAS Regional Satellite

9 months ago /

The Nigerian government says it will support the full take-off of a regional satellite that will serve the needs of the people and bridge the technology gap between Africa and other developed economies.

ICT Contributes Over 2 Trillion Naira To Nigeria’s GDP – Minster

9 months ago /

Nigeria’s Information and Communication Technology sector now contribute over 2 trillion naira per quarter to Nigeria’s G.D.P.

EFCC Arraigns Naira Marley For Credit Card Fraud

9 months ago /

The Economic and Financial Crimes Commission on Monday arraigned upcoming musician, Afeez Fashola popularly known as Naira Marley.

Saudi Arabia Deposits $250m In Central Bank To Aid Sudan’s Economy

9 months ago /

Saudi Arabia said on Sunday that it deposited $250 million with the Sudanese Central Bank.