Category: Business
The international oil benchmark, Brent crude, rose further on Wednesday, trading near $59 per barrel. Oil prices were boosted by a drawdown in the United States crude and petrol stocks that added to demand recovery hopes fueled by the forecast by major producers of a deficit in the market this year, according to Reuters. It […]
The Nigerian Stock Exchange has described the capital market as a viable source of funding for Small and Medium Enterprises, saying it continues to support the growth and development of small businesses in the country. It said in a statement that the most recent of these efforts was the webinar it hosted on Wednesday, with […]
The Federal Government is expecting over N1tn from the private sector for the development and maintenance of the 12 highways that it selected for concession under the Highway Development Management Initiative. It was gathered in Abuja on Wednesday that with the funds from private investors, government would be free of the burden of maintaining and […]
Experts have suggested that the changes in the Finance Act 2020 would boost economic activities and create relief for Nigerian businesses. They took this position at the executive roundtable on the Finance Act 2020 and Economic Outlook for 2021 organised by PwC Nigeria. The virtual event held on Monday was targeted at CEOs, senior executives […]
Peter Obi has advised the Federal Government on what to do to pull millions of people out of poverty. The former governor of Anambra State, Peter Obi has said that pulling millions of Nigerians out of poverty is not rocket science, urging that Nigeria has multiple examples to learn from developing countries, instead of a […]
Dangote’s $2.5 billion West Africa’s largest fertilizer plant to commence operations in Q1 2021. Dangote Urea fertilizer plant set-up to boost food sufficiency in Nigeria by Africa’s leading conglomerate, Dangote Industries Limited, is set to commence full operation in the first quarter of 2021. According to recent information, the newly completed fertilizer complex is said to […]
West Africa’s oil exports slumped to the lowest level in at least three years last month as infrastructure woes for some of Nigeria’s biggest streams combined with gradually waning output in Angola. Combined flows from the region fell to 3.41 million barrels a day in January from 3.8 million barrels a day in December, according […]
Nigeria holds as much as $900 billion worth of dead capital locked up in residential real estate and agricultural land, including federal government’s abandoned properties estimated at N230 billion, said PWC Nigeria. Dead capital refers to unregistered real property, and is considered lost value because the landholder is unable to transfer or leverage the property […]
The Tony Elumelu Foundation (TEF) has announced three senior executive appointments, effective yesterday. This follows the launch of the 2021 TEF Entrepreneurship Programme, on www.TEFConnect.com, which this year prioritises the economic recovery of small and medium scale enterprises and young African entrepreneurs, following the disruptive effects of the Covid-19 pandemic. The Tony Elumelu Foundation, which […]
The Ogun State Executive Council has approved for immediate reconstruction, the 2.35km Journalists’ Estate Road in Arepo, Obafemi Owode Local Government Area of the state. According to the Commissioner for Works and Infrastructure in the state, Ade Akinsanya, preliminary work had already commenced and the contractor was expected to mobilise to site soon. He said […]
Nigeria’s three refineries under the management of the Nigerian National Petroleum Corporation (NNPC) have not made any profit or produce a drop of fuel since October 2019. Instead, the Nigerian government has spent taxpayers’ money to keep the refineries idle for the combined cost of N123.45 billion from October 2019 to October 2020. The refineries […]
Chemical and Allied Product (CAP) Plc has recorded N8.7 billion revenue for the year ended December 31, 2020, representing a 3.9 percent increase over N8.4 billion posted in 2019 financial year end. This is even as the company said it hopes to conclude its planned merger with its sister company – Portland Paint and Products […]
The Ecobank Group said it recorded revenue of over N630 billion for the year ended December 31, 2020. This represents a 7% growth when compared to N586.9 billion posted in the corresponding period of 2019. The company disclosed this in its unaudited report submitted to the Nigeria Stock Exchange (NSE) on Friday, adding that its total […]
The FG has approved a policy that would ensure Nigerian-made goods are up to global standards for export. The Federal Executive Council (FEC) has approved the National Quality Control policy for exports. This was disclosed by the Minister of Industry, Trade and Investment, Niyi Adebayo, in a meeting with State House Correspondents after the FEC meeting […]
AUC chairperson has disclosed that significant, sustained progress is being made in China-Africa ties within cooperation framework. The African Union Commission (AUC) Chairperson, Moussa Faki Mahamat, has said that “significant and sustained” progress has been made in China-Africa ties. He reiterated the AU Commission’s strong commitment to upholding multilateralism and supporting international partners in halting the […]
