News - Business and Economy

Nigeria and China Sign MoU on CADFUND

4 years ago /

The Nigerian government and The China Development Bank, CDB has signed a Memorandum of Understanding that will primarily facilitate increase in Chginese investments into Nigeria through the China Africa Development Fund, CADFUND.  

Fidelity Bank holds AGM in Uyo

4 years ago /

Fidelity bank plc has posted a seven billion naira profit after tax and declared a dividend of 14 kobo per ordinary share of 50 kobo each to shareholders for the financial year ended 2013

Nigeria received $356 million in foreign direct investment for the first two months of 2014

4 years ago /

Nigeria received over $356 million in foreign direct investment for the first two months of 2014, this is according to data from the National Bureau on Statistics, NBS released on Tuesday.  

Minister Asmau Ahmed advised farmers to breed for nutritional value

4 years ago /

Nigeria’s Minister of State for Agriculture, Asmau Ahmed, has advised farmers to breed for nutritional value as this will reduce the rising rate of child-malnutrition and ensure food security in the country.  

Nigeria seeks foreign investments

4 years ago /

Nigeria’s Minister of State for Industry, trade and investment, Samuel Ortom says despite challenges faced by Nigeria, the country is still looking for opportunities of investments.

SON uncovers warehouse for substandard phones in Lagos

4 years ago /

The standard organization of Nigeria, SON has sealed up Chinese mobile phone warehouse in Lagos for noncompliance with standard.    

Ogun state modernise road network

4 years ago /

Ogun state commissioner for works Olalekan Adegbite has described ongoing road projects by the state as a fulfillment of all electioneering promises made by the Amosun administration.  

FEC endorses $152m loan for agric development

4 years ago /

The Africa Development Bank, ADB has granted financial assistance worth $152.5 million for the development of Nigeria’s agricultural sector.  

Centre for Social Justice kicks against scrapping FRC

4 years ago /

Director of the Centre for Social Justice a non-profit organization Eze Onyekpere said the move to scrap the commission and transfer its functions to the Revenue Mobilization, Allocation and Fiscal Commission is a clear demonstration of government’s inconsistency.    

 

Court to rule on case between LADOL, Samsung and Total on June 3, 2014

5 years ago /

Justice Chukwejewu Aneke of the federal high court in Lagos will on June 3rd rule on the issues of jurisdiction in the case filed by Lagos Deep Offshore Logistics LADOL, against Samsung Heavy Industries of Korea and Total over the $3.8 billion Egina deep water project.

 

Bayelsa state government uncovers N25 billion fraud amongst ten commercial banks

5 years ago /

A whooping N25 billion bank fraud uncovered by the Bayelsa state House of Assembly committee on public accounts is still gathering storm.

 

Federal government to deliver quality standard in electricity sector

5 years ago /

The federal government says it will not compromise standards in Nigeria’s electricity sector.  

African economy increases by 2.4% - World Bank

5 years ago /

Africa’s economic growth rate has doubled in the last two decades and this growth is investment driven rather than consumption driven.

Delta state to house $16 billion federal government gas city project

5 years ago /

Preparations have begun for the groundbreaking ceremony of the $16 billion federal government gas city project located at Igidigbien in Warri Southwest local government area of Delta state.

Small scale business owners bemoan epileptic power supply

5 years ago /

There have been many target dates for uninterrupted power supply the electricity sector but most of them have never been met.

 

Collapsed buildings: COREN to fish out fake engineers

5 years ago /

The need to fully understand the causes of building collapse to prevent its recurrence was the focal point at the second national dialogue session organized by leading Nigerian cement manufacturers Lafarge.

AFRIMA to hold in Nigeria for the next three years

5 years ago /

The acting Manging Director of the Bank of Industry, Waheed Olagunju has reiterated the bank's commitment in supporting initiatives that will contribute to a meaningful growth in Nigeria's creative industry. He made this known in Lagos on Wednesday when he hosted organisers of the All African Music Awards at the bank's office.

Rebased GDP: Nigeria still needs assistance from donor agencies - Chichi Okoye

5 years ago /

Oxfam’s country director Nigeria, Chidi Okoye says that the recent rebasing exercise which places Nigeria as the number one economy in Africa and the 26th in the world, does not mean it does not require assistance with poverty reduction from donor agencies. Okoye who made this know yesterday in Abuja added that Nigeria’s agricultural sector remains in dire need of assistance.  

PHCN in huge debts

5 years ago /

The defunct Power Holding Company of Nigeria, PHCN, has liabilities of over N752 billion as at the end of March 2014.           

Greek economy attracting investors after 2010 crash

5 years ago /

The tide is beginning to turn in Greece as the five year bond is attracting more investors than anticipated.


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