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


Meter Manufacturers Begs FG To Weaken Discos’ Monopoply

The Electricity Meters Manufacturers Association of Nigeria (EMMAN) has called on the Federal Government to weaken the monopoly of electricity distribution companies (DisCos).

NNPC Denies Planned Hike In Fuel Price

The Nigerian National Petroleum Corporation (NNPC) has said that there are no plans to increase the price of petroleum in the country. 

Nigeria Rakes In N30b From VAIDS

The Federal Inland Revenue Service (FIRS) has said that the country made about N30 billion from the Voluntary Assets and Income Declaration Scheme (VAIDS). 

World Bank Predicts 3.1% Global Economic Growth

The world's economy would record a growth of 3.1 per cent in 2018 in spite of the current downward trend, says the World Bank. 

SMEDAN Advocates Database For Small, Medium Businesses

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has called for the creation of a database for Micro Small and Medium Enterprises (MSMEs).

CBN To Sell N1.1trn Treasury Bills

The Central Bank of Nigeria (CBN)will issue N1.1 trillion Treasury Bills (NTBs) for the next three months.

FG Approves 2 Executive Orders, 5 Amendment Bills

Nigeria has approved approved two Executive Orders and five Amendment Bills to the country’s tax policies, says Minister of Finance Kemi Adeosun. 

Naira Falls Against Dollar On Parallel Market

The Naira has fallen by one point exchanging at N361.5 to the dollar at the parallel market in Lagos.
Alcohol intoxicated man pours hot water on mother

Alcohol Manufacturers Reject 500% Excise Duty Hike

The Distillers and Blenders Association of Nigeria says it rejects the new ”astronomical increase” in excise duty being imposed on domestic wines and spirits.

Bus Owners Petition Ambode Over Transport Policies

The Association of Luxury Bus Owners of Nigeria have appealed to Vice-President Yemi Osinbajo to wade into the impasse between their union and the Lagos State Government.

Discos Say N300bn Needed To Supply 4m Meters Nationwide

Electricity distribution companies in the country have said they need N300bn to meter the four million unmetered electricity consumers.

IFC Says Nigeria Lagging Behind In Financial Inclusion

Nigeria is lagging behind in financial inclusion and mobile money in Africa, according to the International Finance Corporation.

CBN Approves Wider Margin For BDCs

The Central Bank of Nigeria has given approval for an increase in the review of trading margin to operators of Bureau De Change across the country. 
SEC DG Mounir Gwarzo

Suspended SEC DG Gwarzo Drags Minister To Court

Suspended Director-General of Nigerian SEC, Mounir Gwarzo, has filed a suit before the National Industrial Court challenging his suspension by the Minister of Finance, Kemi Adeosun.

NSE Tells Buhari What To Do With Sovereign Wealth Fund

The Nigerian Society of Engineers (NSE) has urged the Federal Government to use the Sovereign Wealth Fund to build the country's intellectual capacity.

Expert Uncovers Way To Manage Waste In Lagos

Lagos State should deploy community-centred approach to effectively manage waste, says Associate Professor of Community Health and Medical Sociology Oluropo Ayodele.

Nigeria’s GDP Growth Plunges By 1.95%

Nigeria's Gross Domestic Product (GDP) growth declined by 1.95 per cent between January and March, 2018. 

Nigeria’s Manufacturing Sector Records N30bn Loss

The country's manufacturing sector had a loss of N30bn in output in the first quarter of the year, according to data from the National Bureau of Statistics (NBS). 

Buhari Increases Tariffs On Alcohol, Tobacco Sales

President Muhammadu Buhari on Sunday approved an amendment to the excise duty rates for alcoholic beverages and tobacco with effect from Monday, June 4.

What Africa Should Do With Sovereign Wealth Fund -Adesina

President of the African Development Bank Dr. Akinwumi Adesina has called on African countries to invest the Sovereign Wealth Fund in infrastructure. 
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