Business

Nigeria approves commercialisation of Federal Housing Authority

The privatization process of the Abuja Security Commodities and Stock Exchange was also approved.

CBN

Central Bank of Nigeria releases draft reporting template for banks

The CBN stated this in a circular on Wednesday.

States’ GDP computation report out soon, says Nigeria statistics bureau

The NBS said the report of the pilot project to compute state’s GDP will be published soon. The National Bureau of Statistics, NBS, said on Wednesday that the report of the pilot project to compute the Gross Domestic Product, GDP, of the states of the federation would soon be published. The Statistician General of the […]

Non-interest banks to pay premium on contributions

The premium is to protect the investors’ interests in case the banks fold up. The Nigerian Deposit Insurance Corporation, NDIC, on Wednesday said non-interest deposit money banks would soon begin payment of premium on contributions as a way of protecting investors’ interests in such banks should they fold up. The Managing Director of Corporation, Umaru […]

Nigeria targets annual investment of N1.5 trillion in power sector

President Goodluck Jonathan, at the World Economic Forum in South Africa, says Nigeria is expecting private $10 billion power sector investment in the next 10 years. Nigeria expects an annual private sector investment of about $10 billion (N1.5 trillion) in the country’s power sector over the next ten years, following the total privatization of power […]

Dangote gets N670bn loan to construct Nigeria’s biggest refinery

One of Africa’s richest men, Aliko Dangote, intends to build a petroleum refinery in Nigeria.

Tecno to build phone factory in Nigeria, decries ‘China Phone’ tag

Tecno launched its new products in Lagos.

Nigeria’s Central Bank spends N73mn to renovate governor’s residence

The bank was unable to tender documents to justify its spending.

NEITI Logo

Nigeria hails U.S. court’s dismissal of suits against oil companies, others

NEITI says it was encouraged that the dismissal of the suit.

Tecno decries ‘China Phone’ appellation, launches new product

Brand Tecno says the appellation ‘china phone’ affects sales of its product.

IFC, Bill Gates to invest N9.42bn on priority healthcare for poor Nigerians

The investment will help boost the coverage of priority health technologies and intervention service for over one million poor Nigerians.

NEXIM Bank, Canadian export agency seek partnership to boost aviation sector financing

Canadian export agency might finance Nigeria’s ailing aviation sector.

Nigeria to pay more interest on World Bank loans from 2014

World Bank says Nigeria is transiting from the extremely poor income category to the low-middle income country.

International Labour Organisation to propose labour law reform package

This follows last month’s garment factory collapse in Bangladesh, killing more than 600 people.

Central Bank begins daily cheque clearance across Nigeria

The policy was activated in Abuja and Lagos earlier in the year.

Normal gas exports restored as NIMASA lifts blockade on NLNG loading bay

The restoration came after officials met and agreed to seek further dialogue. Normal gas export operations at the Nigeria Liquefied Natural Gas (NLNG) Limited at Bonny Island, Rivers state were on Sunday restored after the Nigerian Maritime Administration and Safety Agency (NIMASA) lifted the blockade on the Bonny Channel over fee disputes. The blockade, which […]

Nigerian Transparency official nominated to global board

The body operates in 45 resource-rich nations. A member of the Nigeria Extractive Industries Transparency Initiative (NEITI) National Stakeholders Working Group (NSWG), Faith Nwadishi, has been nominated to join as a full member of the International Board of the Extractive Industries Transparency Initiative (EITI). Ms. Nwadishi’s nomination is expected to be ratified at the 6th […]

No plan to establish pipeline protection agency in Nigeria- NNPC

The companies say that previous reports of the setting of a pipeline protection agency is false.

Nigeria’s Private Sector to downsize in 2013- LCCI report

The survey revealed that hope for new employments this year is rather fragile and downsizing may be inevitable. Nigeria’s private sector will downsize or at best, maintain its current level of workforce in 2013 as the nation’s business environment remains largely constrained by rising socio-economic uncertainties, said the Lagos Chamber of Commerce and Industry, LCCI. […]

Nigerian Custom Officer

Customs seize 35,194 bags of rice valued at N213m

The highest seizure of 8000 bags of rice was recorded in Lagos. The Nigeria Customs Service, NCS, said on Friday that it intercepted 35,194 bags of smuggled rice in the last two months with Duty Paid Value of N213 million. Wale Adeniyi, spokesman of the service, told reporters in Abuja that customs officers in different […]

Dangote foresees Nigeria as gateway to African Capital Markets

Nigeria will launch the derivatives market in 2014 to increase the number of tradable products. Aliko Dangote, the President of the Nigerian Stock Exchange, NSE, said Nigeria will soon be the gateway to African capital markets. Mr. Dangote, Africa’s richest man, made the forecast at the 52nd Annual General Meeting, AGM, of the NSE on […]

BREAKING NEWS: Nigeria’s Gas Export In Danger Over Levy Wars

The Nigerian Maritime Administration and Safety Agency (NIMASA) triggered a major trade dispute Friday in Bonny Island, blocking access to the nation’s major loading terminals for gas export, authoritative security sources have disclosed to PREMIUM TIMES. NIMASA’s action took place about noon, and its grouse, according to sources, is based on alleged refusal by the […]

11 facts to know about Nigeria’s SURE-P Graduate Internship Scheme

The Graduate Internship Scheme was created to check the growing rate of graduate unemployment.

Dangote Cement declares huge profit in first quarter of 2013

The firm plans to improve production in its three plants in Nigeria.

Court asks Jimoh Ibrahim’s NICON Insurance to pay FIRS N200mn

NICON Insurance has failed to meet its financial commitments to Federal Government since 2007/2008.