Business

The latest business news in Nigeria, Africa and the world.

Obaseki Slams Oil Majors For Neglecting Host Communities
Gov. Godwin Obaseki of Edo has decried the poor attitude of multinational oil companies operating in the state toward the welfare of their host communities.
Nigerian Equity Market Strengthens With 1.88% Growth Recorded
The Nigerian equity market on Friday increased by 1.88 per cent to extend an uptrend for the third consecutive day with the market capitalisation improving by N164 billion.
Revenue Remittance: EFCC Prosecution Awaits Defaulting MDAs
Nigeria's Minister of Finance Kemi Adeosun says EFCC prosecution awaits federal agencies indicted by audit for failing to remit revenue into government coffers.
gm-foods
3 Genetically Modified Crops Under Secret Trials In Nigeria
Three genetically modified crops are currently under confined field trials in Nigeria, Dr Rufus Ebegba, DG, National Biosafety Management Agency, has said.
Nigeria investment inflow
Speculation, Hoarding Bane Of Naira/Dollar Exchange Rate – BDC President
A Bureau De Change operator, Aminu Gwadabe, has identified speculation, hoarding among others as the reason for the continued spike in the exchange rate.
How Kano DisCo Fleece Customers With Handwritten Electricity Bills
Some Kaduna residents have cried out about the unbearable extortion they suffer from staff of Kano Electricity Distribution Company (KEDCO), Concise News gathers.
Australian Schoolboys Re-create Price-hiked HIV Drug On A Shoestring Budget
Some Australian schoolchildren working on a shoestring budget have recreated the HIV drug whose price was controversially jacked up 5,000 percent by a former hedge fund manager Martin Shkreli.
opec
OPEC Output Cut Leads To Rise In Oil Prices
Oil prices rose Thursday and held above the $50 barrier following OPEC’s decision to carry out its first output cut in eight years.
budget
Buhari Set To Present 2017 Budget To NASS
President Muhammadu Buhari is set to present Nigeria's 2017 budget before the National Assembly after the Federal Executive Council gave it a speedy consideration and approval on Wednesday.
ndic
NDIC Appoints 10 Agent Banks For Failed Bank Depositors To File Their Claims
NDIC has called on depositors of failed banks to file their claims through the appointed 10 agent banks nationwide. Toll-free number and 24h-hr support were also provided for easy access.
How Women Leader Forced Down Prices Of Commodities In Ado Ekiti Markets
Prices of foodstuff were forcefully reduced at markets in Ado Ekiti on Tuesday by a taskforce led by the President of the Market Women’s Association, Chief Omowaye Oso.
Recession: NLC Urges FG To Set Up Economic Blueprint
The Nigeria Labour Congress has called on the Federal Government to put in place coherent economic blueprint to tackle recession in the 2017 budget.
MTN Nigeria Announces New Data Prices
Data Price Increase: You’re Insensitive, Subscribers Tell NCC
The National Association of Telecommunications Subscribers (NATCOMS) has described the directive from the Nigerian Communications Commission (NCC) for data tariff increase as insensitive.
abakaliki rice
Price Of Rice Crashes To N8,000 Per 50kg Bag In Ebonyi State
A bag of Abakaliki rice now sells for N8, 000 in Ebonyi State following the FG-backed ban on importation of foreign rice into the state by Gov Dave Umahi, Concise News gathers.
Nigeria Imports 5.61bn Litres Of Petrol In Q2 2019- NBS
Lawmakers Want Petrol Sold At N70 Per Litre
Nigeria's House of Representatives has faulted the current pricing template for petrol, calling for a pump price not above N70.04 per litre.
FOwler, FIRS boss
Tax Evaders May Not Get Passport, Says FIRS
Nigerians would soon be requested to provide evidence of tax payment before they obtain passports. That is according to the Executive Chairman of the Federal Inland Revenue Service, Tunde Fowler.
Naira Maintains Stability At Interbank Market
At the Bureau De Change (BDC) window, the naira traded at N400 to a dollar, CBN controlled rate, while the Pound Sterling and the Euro closed at N585 and N506, respectively.
apapa-gridlock, Apapa: Nigerians React As Sanwo-Olu Promises To End Gridlock |Nigeria News
Apapa Gridlock Killing Trade Facilitation – NPA Boss
The MD, Nigerian Ports Authority (NPA), Hadiza Usman, said the traffic gridlock in Apapa had affected access into the ports and killing trade facilitation.
OPEC Seeks Crucial Oil Output Cut
A boost in oil prices will come to the fore as OPEC members meet on Wednesday in Vienna, to seek a deal that would nail down first output cut in eight years.
NNPC Ready To Upgrade, Expand Kaduna Refinery
The NNPC boss Maikanti Baru has pledged the corporation's resolve to upgrade and expand the Kaduna Refining and Petrochemical Company Limited. He said the initiative would ensure optimal utilisation.
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