BUSINESS

View all posts

NERC Directs Power Companies To Continue Operations

By Cyril Ogar  The Nigerian Electricity Regulatory Commission (NERC) at the weekend released guidelines for power industry operations during the

Why We Can’t Sell Petrol Below N125 Per Litre – IPMAN

Charles Ebi The Ibadan branch of Independent Petroleum Marketers Association of Nigeria (IPMAN) said its members will not sell the

Nigeria’s Foreign Reserves Shed $3.02bn In 3 Months

By Cyril Ogar  The country’s foreign reserves have continued its downward trend dropping by $3.02bn from $38.53bn on January 2,

Why We Can’t Sell Petrol Below N125 Per Litre – IPMAN

The Ibadan branch of Independent Petroleum Marketers Association of Nigeria (IPMAN) says its members will not sell the petroleum motor

Power Supply Rises As Plants Receive Gas

By Charles Ebi The Transmission Company of Nigeria has announced an improvement in power generation following the supply of gas

Nigeria’s Oilfields Face Shutdown Risk Amid Market Woes

By Cyril Ogar  The collapse of crude oil prices and the oversupply of the commodity in the global market amid

N8.5 Trillion Tax Target: FIRS Records 7% Increase In Q1 Collection

Mariam Sanni, Abuja In spite of turbulence in the global economic system, especially the sharp fall in the price of

COVID-19: NCC Provides Succour To Nigerians, Establishes 112 National Emergency Number

The National Emergency Number 112 established by the Nigerian Communications Commission (NCC) is providing succour to Nigerians in the nation’s

COVID-19: NNPC Allays Fear Of Possible Fuel Shortage

The Nigerian National Petroleum Corporation (NNPC) yesterday, said the country has nothing less than 2.68 billion litres of Premium Motor

FG Reviews Fuel Price Downward Over Coronavirus

The Petroleum Products Pricing and Regulatory Agency has reduced the pump price of petrol to N123.50 per litre from the

COVID-19: CBN Begins Provision Of Medical Facilities In Six Geo-Political Zones

By Mariam Sanni, Abuja The Central Bank of Nigeria (CBN) says it has commenced work to provide and equip medical

Nigeria Earned $32.63bn From Oil & Gas Sector In 2018

Charles Ebi Nigeria earned a total of $32.63 billion from the oil and gas sector in 2018, a 55% increase

NSE Market Capitalisation Loses N277bn Amidst COVID-19, Weaker Oil Price

Mariam Sanni, Abuja Nigerian equities market on Monday opened trading for the week with a loss of N277 billion, amidst

Coronavirus: Nigerian Breweries Postpones 2019 AGM

Mariam Sanni, Abuja Nigerian Breweries (NB) Plc has announced the postponement of its 74th annual General Meeting (AGM) slated for April

COVID -19: CBN Assures Undisrupted Financial Service During Lockdown

……Advice Nigerians on Cashless Policy By Mariam Sanni, Abuja Following the directive of President Muhammadu Buhari on restriction of movement

COVID -19: CBN Assures Undisrupted Financial Service During Lockdown

…Advice Nigerians on cashless policy Mariam Sanni, Abuja Following the directive of President Muhammadu Buhari on restriction of movement of

We Didn’t Give NITDA N300 Million Subventions — NCC

Contrary to wide speculation by an online publication that the Nigerian Communications Commission (NCC) gave N300 million to Nigeria Information

COVID-19: AfDB Raises $3bn Social Bond

By Mariam Sanni, Abuja The African Development Bank (AfDB) has raised three billion dollars three-year bond to help alleviate the

Covid-19: Stay-at-home Order May Trigger Population Explosion – Expert

By Nosa Eresoyen, Asaba Dr Ben Emonene, Delta State Technical Support Lead for Family Planning (FP) has expressed fear that

COVID-19: How NCC Is Supporting Stakeholders, Nigerians

Nigerian Communications Commission (NCC) has reeled out measures it put in place to support initiatives by other stakeholders and Nigerians

IMF, World Bank Call For Cancellation Of Debt By Poorest Nations

The International Monetary Fund and World Bank on Wednesday called for governments to put a hold on debt payments from

CBN To Remain Operational While COVID-19 Lasts

Mariam Sanni,Abuja Following the current impact of the Coronavirus (COVID-19) on the global economy coupled with efforts by the Nigerian

FIRS Gets New Directors, Others

Mariam Sanni, Abuja As part of ongoing internal reforms to reposition the Service towards achieving its N8.5 trillion tax target,

Deteriorating Economic Condition Worsens Consumer Confidence, CBN Says

By Yahaya Umar  Consumers’ overall outlook was negative in the first quarter of 2020, as consumers were pessimistic in their

COVID-19: 80 Countries Seeking IMF’s Financial Assistance

By Yahaya Umar The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has said the human costs of

Africa Needs $100bn Economic Stimulus – Finance Ministers

Charles Ebi Africa needs an immediate emergency economic stimulus to the tune of $100bn, owing to the COVID-19 outbreak, the

Flight Ban Won’t Affect Cargo, Humanitarian Aircraft – Sirika

Cyril Ogar, Abuja  Hadi Sirika, minister of aviation, says Nigeria’s international airports are still open to aircraft in distress, those used

N8.5 Trillion Tax Revenue: FIRS Workers Pledge To Achieve Target

Mariam Sanni, Abuja The Domestic Tax Operation Group (DTOG) of the Federal Inland Revenue Service (FIRS) has assured the Management

NNPC Posts N5.28bn Trading Surplus In December 2019

…As downstream subsidiary, records ₦337.63 billion products sales Cyril Ogar The Nigerian National Petroleum Corporation (NNPC) has announced an increased trading surplus

FIRS Collects N338.1bn Revenue In January

Mariam Sanni, Abuja The Federal Inland Revenue Service (FIRS) has collected the sum of N338.1 billion revenue for January 2020

NNPC Posts N5.28bn Trading Surplus In December 2019

…As  Downstream Subsidiary, Records ₦337.63billion Products Sales Cyril Ogar The Nigerian National Petroleum Corporation (NNPC) has announced an increased trading surplus

COVID-19: CBN, Bankers’ Committee To Support Pharmaceutical Coys

…Back N3.5 Trillion Stimulus to economy By Mariam Sanni, Abuja  Due to the continual new record of cases of corona

No FIRS Staff Tested Positive To COVID-19 — Nami

The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami and the Management of the Service has described as

Gas Shortage Hinders Electricity Generation By 3,568MW – Report

Cyril Ogar Electricity Generation Companies (GenCos) comprising gas-fired and hydro stations said they could not generate 3,568 megawatts of electricity

60% Electricity Consumers Are On Estimated Billing – NERC

Cyril Ogar The Nigerian Electricity Regulatory Commission (NERC) has disclosed that almost 60 per cent of electricity users in the

IPMAN Seeks Compensation For Members Over Losses

By Cyril Ogar  The Independent Petroleum Marketers Association of Nigeria (IPMAN)  has call for palliative measures to support marketers who

Buhari Launches National Broadband Plan, Emergency Call Centre

President Muhammadu Buhari on Thursday launched the National Broadband Plan ,2020 – 2025, in Abuja. According to the Minister of

Tax: Ease Of Payment Critical To National Development – FIRS

Mariam Sanni, Abuja A tax system designed to facilitate voluntary compliance and seamless payment by taxpayers is critical to achieving the Sustainable

Pantami: NCC’s TVWS Framework Will Enhance Delivery of Digital Economy

Minister of Communications and Digital Economy, Dr. Isa Ali Ibrahim Pantami, has said that the Television White Space (TVWS) framework

FG Slashes Budget by N1.5tn, Reduces Benchmark to $30

Mariam Sanni, Abuja The Federal Government has announced a slash in the 2020 budget by N1.5tn as part of measures

Coronavirus: TUC Advocates Tax Holidays to Boost Economy

Mariam Sanni, Abuja The Trade Union Congress (TUC), has called on the Federal Government to grant tax holidays to business

Petrol Landing Cost Crashed To N64.32/Litre – PPPRA

Cyril Ogar  The low global oil price has helped crashed Nigeria’s petrol landing cost to N64.32 per litre, according to

COVID-19: CBN To Inject N1 Trillion Stimulus On Economy

Health sector to get additional N100b loan Boost By Mariam Sanni, Abuja The Central Bank of Nigeria (CBN) has revealed

Oil Slumps To $28 As Dollar Exchanges For N369

By Cyril Ogar The price of Brent crude oil, the international benchmark, extended its decline on Tuesday, trading around $28

Covid- 19: FIRS Unveils Automated System To Plug Funding Gaps

Mariam Sanni, Abuja As the Coronavirus pandemic cripples the global economic system with dire consequences for fiscal planning by all

COVID-19: Outlook For Global Economy Bleak — LCCI

By Mariam Sanni  The Lagos Chamber of Commerce and Industry (LCCI) says the outlook for global economy appeared bleak, going

NSE Sustains Negative Outlook, Index Down By 0.71%

By Mariam Sannni, Abuja Sell pressure continued on the Nigerian Stock Exchange (NSE) on Tuesday with the indices dropping further

DMO Laments Coronavirus Threats On Debt Servicing Plan

By Mariam Sanni, Abuja The Debt Management Office on raised the alarm that the outbreak of coronavirus was threatening the

Inflation Rises By 0.07% To 12.20% In February – NBS

Charles Ebi The National Bureau of Statistics (NBS), says the inflation rate in February 2020 increased by 0.07 percent to

FG Suspends Plans To Borrow $22.7bn

The federal government may have harkened to the warnings, hues and cries of Nigerians who kicked against the planned external