Business

Starcomms gets $210m Capital investment

Starcomms has recently faced severe operational and financial challenges.

IMF Chief cautions Nigeria against expansionary fiscal policy

IMF Chief says with unstable crude oil prices, a high oil price benchmark for the 2013 budget could hurt the economy.

Oil benchmark: IMF advises Nigeria on prudent spending

The IMF has largely been criticize in Africa for its Structural adjustment programmes.

Inadequate funding hampers revenue formula review, says RMAFC Chairman

The new revenue formula has been delayed till next year.

Ribadu commitee exposes how presidency, NNPC spend oil revenues as slush funds

Download full report of the Ribadu Committee on Petroleum Revenue here

Capital market holds the ace for Nigeria’s agricultural sector – NSE CEO

Agriculture has remained subsistent because financing needs for agriculture is quite substantial and it cannot be met through the money market.

Dealers see stability in Foreign Exchange Market

Naira stabilizes against dollar on CBN’s cashless policy

26th Lagos International Trade Fair: 345 foreign, local companies indicate interest so far

This year’s Lagos International Trade Fair will host 12 foreign countries

NCP approves bidders for PHCN successor generating, distribution companies

The preferred bidders will take over the successor companies after completion of payment.

NNPC names New MDs for Port Harcourt, Warri Refineries

The new appointment take place with immediate effect.

Ifeanyi_Uddin_columnist

Obtaining a Handle on the Domestic Economy, By Ifeanyi Uddin

The Sallah holiday weekend was usual in many ways. Electricity supply was epileptic. The fuel scarcity has held out long enough for an ecosystem to evolve on its back. Long queues if you are minded to pay the recommended retail price (RRP); and often, the supply at such outlets never is enough for the queue. […]

Nigeria’s economy suffers from floods

Price of food items go up and oil production is threatened as a result of the floods that ravaged parts of Nigeria.flood

GSM operators blame NCC for interference, bad services

The NCC promised to address the concerns raised

Capital oil boss, Ifeanyi Uba, to remain in detention, court rules

A Federal High Court in Lagos on Monday struck out a bail application filed by Ifeanyi Uba, the CEO, Capital Oil and Gas, and four others charged with N43.29 billion fuel subsidy fraud. Others charged with Mr. Uba are Nsika Usoro, Godfrey Okorie, Chibuzor Ogbuokiri, and Joseph Orji, all employees of the Capital Oil and […]

Finance experts urge mobile money providers to re-strategise

The CBN is making efforts to make mobile money payments popular.

Stock Exchange adds to Market Making stocks

Market Makers now have 28 stocks they can act on.

Telecommunication companies want more role in mobile money

The Telcos said the present arrangement is not fait to them.

September inflation rate drops to 11.3 per cent

The statistics Bureau said urban inflation rate is higher than that in rural areas.

President Goodluck Jonathan

Government to earn N329billion from sale of PHCN successor companies

The sale of the  Power Holding Company of Nigeria, PHCN, successor distribution companies is to fetch the Federal Government more than N197.25billion in revenue. The formal bids opening for 10 of the 11 PHCN successor companies slated for privatization were successfully held Tuesday in Abuja by the Bureau of Public Enterprises, BPE. The bid for […]

A power station used to illustrate the story

‘Abubakar’s firm’ emerges tops in bids for four power distribution companies

The guidelines prevent one company from acquiring more than two distribution companies.

Abdusalam Abubakar, Tinubu, Otudeko battle for Eko Distribution Company as BPE opens bids

Bids are to be opened for 11 distribution companies

Skye Bank, UBA release 2012 results for first 9 months

Both banks declared a better result for 3rd quarter of 2012 than that of 2011.

Finance Minister, Ngozi Okonjo-Iweala

Benchmark crude price best at $75, Okonjo-Iweala insists

The finance minister said anything above the $75 could hurt the economy

Flood threatens Nigeria’s hope of rice self-sufficiency

As floods continue to wreck havoc in several States of Nigeria, destroying farmlands growing rice, maize and other crops, reports of damages pouring from all parts of the country point to a severe destruction of agricultural areas, prompting fears of imminent food insecurity. A report compiled by a group of journalists in Abuja who toured […]

Excess Crude Account rises from increased crude sales

Nigeria earned more from crude sales in September.