News Reports


AfDB’s investments in Nigeria stands at $4.5bn — Official

The bank’s active portfolio in the country comprise 60 operations which include 28 public sector operations.

Zuckerberg adds $4.5 billion to fortune as Facebook shares surge

The technology entrepreneur fortune declined about $20 billion in 2018.

Oil barge used to illustrate the story. [Photo credit: Myanmar Business Today]

Brent oil hits $75 for first time in 2019

The price increase occurs amid tighter Iran sanctions.

Godwin Emefiele, Governor of Central Bank of Nigeria (CBN)

CBN injects $210 million in Inter-Bank Forex Market

The injection of the funds is part of efforts by the bank to sustain liquidity in that segment of the market.

NCC Headquarters

Over 60 million mobile subscribers’ data verified – NCC

It says about 95.7 million subscribers’ SIM registration data undergoing standardised screening, verification.

Standards Organisation of Nigeria (SON) Office

SON confiscates N300 billion worth of substandard products

Top on the list of seized products were adulterated lubricants, electric cables, and cylinders.

Boeing 737 Max. [PHOTO CREDIT: BBC]

Boeing abandons 2019 outlook after 737 MAX groundings

The 737 Max jets manufactured by the company crashed in Indonesia and Ethiopia killing 346 people altogether.

Finance minister, Zainab Ahmed. [PHOTO CREDIT: Daily Trust]

Nigeria’s debt still low, no removal of fuel subsidy yet – Minister

Mrs Ahmed said Nigeria was still better off when compared to Ghana, Brazil, South Africa, Egypt, Angola and other developing economies of the world.

Fire: Aiteo declares force majure on Nembe Creek trunk line

“Relevant investigations are continuing while further information about the remote and direct causes of the fire will be communicated.”

Finance minister, Zainab Ahmed. [PHOTO CREDIT: Daily Trust]

Finance minister defends Nigeria’s rising debts

Finance minister Zainab Ahmed says Nigeria’s borrowings are within fiscal limits.


ALSCON: Court threatens to jail BPE DG

The court said the enforcement of full obedience of the Supreme Court order in the “interest of justice”.

Director-General, Debt Management Office, DMO, Patience Oniha

Nigerian govt to issue N20 billion 30-year bond April 24

The bond will mature in April 2049.


FG to finalise BoA recapitalisation in 90 days

The recapitalisation will be done with an estimated N250 billion.

FILE: A Cooking gas business [Photo credit: Business Daily]

Average Price for Petrol, Kerosene, Cooking Gas Drops; Diesel Increases –NBS

The bureau also listed states with the highest and lowest average price of petrol, in comparison with the approved government price of N145.

L-R: NPA Board Member, Dr. Ekpa Anthonia Akpabio, Chairman NPA Board, Emmanuel Adesoye, the Representative of the Managing Director of the Nigerian Ports Authority (NPA), the Executive Director, Marine & Operations, Dr. Sokonte Davies and the Port Manager, Tin Can Island Port Complex, Engr. Emmanuel Akporherhe during the tour of the Ports.

NPA Board members decry condition of port access roads

The Board chairman said the management is aware of the challenges caused by the gridlock and assured that the NPA is working in synergy with other government agencies to cushion the pressure.

GM of MAP for NERC, Mr Abdulkadir Shettima giving a speech at the launching (Photo Credit: @mz_jummeT)

Over five million Nigerians still unmetered – NERC

NERC says it has directed that roll out of more meters should commence not later than May 1, 2019.

Finance minister, Zainab Ahmed. [PHOTO CREDIT: Daily Trust]

How Nigerian govt will spend $15bn green bond — Minister

The official said Nigeria was the first Sub-Saharan African country to issue a green bond for the financing of solar energy.

ExxonMobil Nigeria Headquarters

ExxonMobil, other oil coys not exiting Nigeria – Kachikwu

He said that it was not possible for a company like ExxonMobil to sell off its assets for the small amount quoted.

Godwin Emefiele, Governor of Central Bank of Nigeria (CBN)

Emefiele woos investors, says Nigeria ready for business

The CBN Governor, Godwin Emefiele, on Friday night in Washington DC, held an informal meeting with potential investors.

International Monetary Fund (IMF)

IMF clarifies report on Nigeria’s Sovereign Wealth Fund

The IMF report had been criticised by some Nigerians.


Jumia lists on New York Stock Exchange

Jumia started its first day of trading with an opening price of $14.50.


PenCom targets 30 million informal workers in new scheme

President Muhammadu Buhari on March 28 launched the MPP for self-employed persons in the informal sector.

Nnamdi Okonkwo

Fidelity Bank announces appointments of three new executives

The new appointments are, however, subject to the approval of the Central Bank of Nigeria (CBN).

World Bank

World Bank cuts Sub-Saharan Africa growth forecast to 2.8%

Nigeria, South Africa and Angola, which make up about 60 per cent of sub-Saharan Africa’s annual economic output, were all facing various challenges.

High tension electric powerlines

Nigeria’s generated electricity drops to 3,522 megawatts

Electricity released, comprising gas-fired and hydro stations, was down by 657.07 megawatts from the figure released on Saturday.