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


Power Generation Drops To 2,684MW

Nigeria's power generation has dropped by 777.9 megawatts on Monday as output from the hydropower plants and gas-fired stations suffered declines.
United Africa Company of Nigeria

UAC Foods Appoints New Managing Director

The United Africa Company of Nigeria (UACN) has appointed Oladele Ajayi as the Managing Director of UAC Foods Limited.

Nigeria To Concession Six Hydro Dams

Minister of Works, Power and Housing Babatunde Fashola has revealed that Nigeria has finished plans to concession six hydro dams to private operators.

Buhari To Give Two Million Traders Loans Without Collateral

The Federal Government will give collateral-free loans to two million petty traders before the end of the year through the Trader Moni initiative. 

Lagos Light Rail To Start Operation 2022

The Lagos State Government has said the light rail project between Mile 2 and Marina will begin passenger operation in 2022.

Nigeria Imported 6.5b Litres Of Fuel In Three Months – NBS

About 6.5 billion litres of petroleum products were imported into Nigeria between April and June 2018, according to the National Bureau of Statistics (NBS).

SEC Gives December Deadline For Registration Of Unlisted Securities

The Securities and Exchange Commission (SEC) on Friday issued Dec. 31 deadline to public companies to register all their securities with the commission to boost the NASD Over-The-Counter (OTC) market.

Importers Call For Opening Of Eastern Ports As Measure To Decongest Apapa Gridlock

Some importers on Friday appealed to the Federal Government to open up the seaports in the Eastern flank of the country to decongest ports in Lagos.

Mutilation Of Currency Notes Now A Crime

Tearing, burning, writing and drawing lines on currency notes and coins without the order of authorised person will be crime in Nepal.

NCC Conducts Fresh Due Diligence On Preferred 9Mobile Bidder

The NCC says it is conducting another round of due diligence on Teleology Holdings Limited, the preferred bidder for 9Mobile.

FG Restricts Issuance Of Visa To Foreign Engineers

The Federal Govt has announced that it had commenced the restriction of the issuance of visas to foreigners seeking to take up engineering roles in Nigeria.

BoI, FG Give Interest-free Loans To Lagos Market Women

The Bank of Industry and the federal government have given out interest-free loans to traders in some markets in the country's commercial hub Lagos. 

Again, CBN Boosts Foreign Exchange Market With $210m

The Central Bank of Nigeria (CBN) on Tuesday injected 210 million dollars into the inter-bank Foreign Exchange Market.

Tantalizers Drop 41.67% To Emerge Worst Performing Stock On NSE In July

Low, medium and high capitalised equities dominated worst performing table on the Nigerian Stock Exchange (NSE) for the month of July in percentage terms.

World Bank Expresses Strong Willingness To Support Nigeria’s Economy

The World Bank has expressed strong willingness to provide technical support to Nigeria to facilitate the country’s economic growth and development.

TCN Recovers 693 Containers Of Power Equipment Abandoned At Ports For 15 Years

Transmission Company of Nigeria (TCN), on Friday, said that it has recovered more than 693 containers of power equipment abandoned at ports for about 15 years due to tariff.

Global Oil Production Raises As Saudi Arabia Pumps More

The Organisation of Petroleum Exporting Countries has said that crude oil production has gone up in July as Saudi Arabia pumped more volumes into the global market. 

Global Food Prices Drop By 3.7 Percent

The Food and Agricultural Organization (FAO) has said global food prices have dropped by 3.7 percent in July 2018. 

CBN Injects $210m Into Forex Market

The Central Bank of Nigeria (CBN) on Tuesday injected $210m into the foreign exchange market to meet customers’ requests in various segments of the market.

Sanusi Blasts FG For Not Signing Africa Trade Pact

The Emir of Kano, Muhammadu Sanusi (II), has slammed the Federal Government for failing to sign the Africa Continental Free Trade Agreement.
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