Business

African Development Bank

ADB fund to invest $500,000 in Nigeria’s sustainable energy

This new private equity fund is developed by All On, a Nigerian impact investment firm financed by Shell.

A Refinery used to illustrate the story.

Nigeria to begin rehabilitation of refineries January 2020 – NNPC chief

Rehabilitation or turn around maintenance of the four refineries has gulped billions of naira since 1999.

Minister of State for Petroleum Resources, Timipre Sylva.

Reduction of Nigeria’s oil JVs equity my priority — Sylva

Currently, the NNPC holds about 60 per cent equity in all the joint venture operating agreements in the oil and gas industry.

Godwin-Emefiele

Why CBN approved new bank charges, proposed VAT increase – Emefiele

Mr Emefiele says there was nothing new in the bank charges announced on Tuesday.

A private filling station used to illustrate the story.

Average price for kerosene, diesel, petrol rose in August – NBS

The bureau lists states with the highest and lowest average price for the refilling of a 5kg cylinder of LPG.

Map of Nigeria used to illustrate the story

FG, States, LGs share N740.9 billion for August

The committee stated that as at August 19, 2019, the Excess Crude Account (ECA) is $328.1 million.

Azura independent power plant in Ihovbor Community, near Benin City, Edo State.

Lack of cost-reflective tariffs discouraging investment in Nigeria’s electricity sector

“Investors must cover their costs to make further investments,” said Mr Okeke of Azura Power

EXPLAINER: How new CBN charges on bank withdrawals, deposits can affect you

The plan is not entirely new as it was first rolled out in 2012. Still, the new charges have infuriated many bank users.

Nigerian Stock Exchange Trading floor [Photo: blogs.cfr.org]

Renewed profit taking: NSE market indices down by 0.13 per cent

The All-Share Index lost 35.46 points to close at 27,646.15 against 27,681.61 achieved on Wednesday.

Nigeria loses $1.35 billion to oil theft in six months

The loss was recorded between January and July 2019.

Cyril Odu

Union Bank board chairman is dead

Mr Odu died on Tuesday, a disclosure sent to the Nigerian Stock Exchange, said.

Central Bank of Nigeria (CBN)

Nigeria approves three new ‘Payment Service Banks’

An official says the approval was in line with its objective of enhancing financial inclusion in the country.

Qatar Airways

Qatar Airways annual loss widens to $639m

The results mark a steeper loss from the previous year when Qatar Airways reported a loss of 69 million dollars.

MTN Nigeria office

MTN plans to raise N100 billion from commercial paper

An MTN official suggested the firm would issue the commercial paper through the Nigerian Stock Exchange.

Godwin Emefiele, CBN Governor

CBN imposes additional charges on transactions on individual bank accounts

Nationwide implementation of cashless policy effective March 31, 2020, CBN says.

The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria November 9, 2016. REUTERS/Afolabi Sotunde

NSE indices sustain negative outlook, amid Airtel price loss

Airtel recorded the highest loss, dropping by 10 per cent to close at N283.50 per share.

AMCON

N5 trillion AMCON debt: Osinbajo constitutes inter-agency taskforce on recovery

About 67 per cent of the outstanding N5 trillion debt is said to be owed by just 20 individuals/entities.

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

Nigeria govt. to auction N150bn bonds September 25

The DMO says units of sale is N1, 000 per unit, subject to a minimum subscription of N50 million.

Boeing 737 [Photo Credit: Linkdin]

Dana Air takes delivery of first Boeing 737 aircraft

The arrival of the new aircraft is confirmation of the airline’s commitment to increase its capacity and meet the demands of its guest.

Andela

Andela lays off over 250 engineers in Nigeria, other African countries

The form says it Wants to focus on experienced talents.

Racheal breaking stone

Suleja heroines who break stones for peanuts

Women and young girls speak about why they adopt manual stone breaking as a daily job.

Nigeria’s inflation reduces again

The headline inflation reduced from 11.08 per cent in July to 11.02 per cent in August.

MTN-logo

MTN’s MoMo Agent plans to aid financial inclusion in Nigeria

MTN joins the ongoing efforts to accelerate the CBN’s drive for financial inclusion.

Aliko Dangote

Dangote firm optimistic FG’s import restriction will aid operations

Mr Dangote wants the government to enforce its decision to cut the importation of tomato-paste to reduce dumping of subsidised paste.

Nigeria Stock Exchange (NSE)

NSE: Market opens on bearish note, down 0.74 per cent

The All Share Index (ASI) shed 204.68 points to close at 27,574.32 against 27,779.000 achieved on Friday.