News - Business and Economy

 

G20 SUMMIT TO ADDRESS HIGHER GDP GENERATION

4 years ago /

The world's top economies have embraced a goal of generating more than two trillion dollars in additional output over five years while creating tens of millions of new jobs, signaling optimism that the worst of crisis-era austerity was behind them.

 

Big story: New CBN governor

4 years ago /

Speculations were ripe since the last quarter of last year on who will step into the shoes of the embattled Central Bank Governor, Sanusi Samido Sanusi.

 

Sanusi reacts to his suspension, says he has no regrets

4 years ago /

In a swift reaction to his suspension, Central Bank Governor, Sanusi Lamido Sanusi in a telephone interview to CNBC Africa has responded and made it very clear that he is very proud of his achievements during his tenure. He also was emphatic in his stance that he won’t be going back to the job but that he would be challenging his removal in court.

 

Oil Block: Reps demand cancellation of agreements with Shell on OPL 245

4 years ago /

The Nigerian House of Representatives wants a revocation of the OPL 245 oil block granted to Shell.

 

Kerosene subsidy: Reps investigate payments from 2010 to 2013

4 years ago /

The controversy on whether or not there is kerosene subsidy continued on Tuesday as the Group Managing Director of the Nigerian National Petroleum Corporation, Andrew Yakubu insists, there is a subsidy on the petroleum product.

 

Kerosene Pump price and the Nigerian people

4 years ago /

As the controversy over kerosene subsidy continues, some Nigerians who rely on the product for cooking say the price at which they buy the commodity cannot justify any subsidy on the product. Presently kerosene sells for between N110 and N150 per litre as against the NNPC advertised price of N50 PER litre.

 

Public Hearing on the amendment of AMCON begins

4 years ago /

Public hearing on the bill for the amendment of the Asset Management Company of Nigeria (AMCON) has commenced. 

 

Cost of doing business in the United States to increase

4 years ago /

Foreign banks are set to win only minor concessions when the Federal Reserve signs off on new capital rules next week, as they become increasingly resigned to the fact that the cost of doing business in the United States will go up.

President Goodluck Jonathan launches Nigerian Industrial Revolution Plan

4 years ago /

The federal government is to create 774 enterprise zones in all local government areas to boost small and medium scale enterprises.

Nigerians demand the passage of the Petroleum Industry Bill

4 years ago /

Against the backdrop of the controversial allegations of oil revenue diversion and counter-claims on the same issue between the Central Bank of Nigeria (CBN) and the Nigerian National Petroleum Corporation (NNPC), the Petroleum Industry Bill (PIB) is once again coming to the fore.

Association calls for government loans to build and run oil refineries

4 years ago /

Independent petroleum marketers have assured Nigerians that there is no cause for alarm on rumours of an impending fuel scarcity. 

House of Reps moves to create Nigeria's Financial Intelligence Agency

4 years ago /

Nigeria’s House of Representatives is seeking to establish the Nigerian Financial Intelligence Agency.

"24.5 billion dollars has been transported illegally across the border" - EFCC

4 years ago /

The negative effects of money laundering on Nigerian economy have been discussed in several other articles. The EFCC is now coming hard on operators of Bureau De change who are involved in the cross border movement of illicit funds, particularly the uncertified ones.

First "Made in Nigeria" vehicle to be released in April

4 years ago /

The first ‘Made in Nigeria’ 4 x 4 utility vehicle will be rolled out in April 2014 using the old Volkswagen assembly plant. 

Senate moves to amend the AMCON ACT of 2010

4 years ago /

A Bill to amend the Asset management Corporation of Nigeria Act of 2010, AMCON 2010, scaled the second reading.

Nigeria records laudable economic achievement

4 years ago /

Minister of Trade and Investment, Olusegun Aganga announced that Nigeria is set to be home to the largest cement producing plant in the world. 

President Jonathan moves to revitalize the manufacturing sector

4 years ago /

President Goodluck Jonathan has said that one of the focal points of his administration is to revitalize the ailing manufacturing sector.

Ngozi Okonjo-Iweala yet to submit response to Committee's 50 questions

4 years ago /

It is over three weeks since December 19, 2013 when the Finance committee set a timeline for the Minister to submit her response to the fifty questions raised. The Minister is, however et to submit her response.

Edo state launches the Tax Payer Identification Number Project

4 years ago /

Governor Oshiomole has launched the Tax Payer Identification Number project.

CBN DEPUTY GOVERNOR SET TO RETIRE

4 years ago /

Deputy Governor in charge of the operations directorate, Central Bank of Nigeria Babatunde Olakunle Lemo, is set to retire from the apex bank on Friday, January 10, 2014.