Business

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

Nigeria May Have Lost $10bn In Malabu Oil Deal – Reps

Nigeria may have lost $10bn in the controversial Malabu Oil deal in a transaction on Operating Licence 245, the House of Representatives has alleged.
AfDB Grants Nigeria $200m Loan For Electrification

Eko Disco Reiterates Commitment To Stable Power Supply

The Eko Electricity Distribution Company (EKEDC) has restated the company's commitment to providing a constant power supply.
World Bank

World Banks Says Nigeria’s GDP Growth Will Be Lower Than 2% in 2018

Nigeria will experience a slow growth rate in its economy in 2018, according to a recent report by the World Bank group released on Wednesday.
FMBN Partners Presidential Panel To Recoup N43bn From Debtors

FMBN Doles Out N15.7bn As Home Renovation Loans

The Federal Mortgage Bank of Nigeria (FMBN) has disbursed N15.7bn to Nigerians under the Home Renovation Loan programme. 
AfDB Grants Nigeria $200m Loan For Electrification

Power Supply Issues Greatest Concern Of Nigerians – CPC

The Consumer Protection Council (CPC) has said that power supply issues are one of the top complaints of consumers in Nigeria. 
FG Awards Exploration Contracts To 10 Mining Firms

FG Awards Exploration Contracts To 10 Mining Firms

The federal government says it has awarded contracts for the exploration of the country’s mineral resources to ten firms. According to Reuters, minister of mining...

We Can’t Deprive Government Of Revenue, Nigerian Breweries Assures

The Nigerian Breweries Plc has assured that it would not deprive the Nigerian government its revenues according to the laws of the country. 

Lagos Makes Highest Internally Generated Revenue In Nigeria

The National Bureau of Statistics (NBS) has said the 36 states and the Federal Capital Territory generated N579.4bn as Internally Generally Revenue in the first half of 2018.

FG Slashes Treasury Bills Issuance By N1.27tn

The Federal Government has reduced the Nigerian Treasury bills issued and allotted by N1.27bn in June this year to N1.65tn from N2.92tn in the same period of 2017.

FG Partnering AfDB For $500m Innovation Fund – Osinbajo

Vice President Yemi Osinbajo has said the country is partnering with the African Development Bank (AfDB) for a $500m Innovation Fund. 

RMAFC Recoups N268b From Banks

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has recovered N268bn from banks in the country following several probes. 
DPR Says Nigeria Has Lost Most Valued Oil Buyers

CBN Rues Livestock Farmers’ Limited Access To Finance

Limited access to funding is one of the major problems facing livestock farmers in the country, according to the Central Bank of Nigeria (CBN).

DPR Says Nigeria Has Lost Most Valued Oil Buyers

The Department of Petroleum Resources (DPR) has said Nigeria has lost its most valued crude oil buyers as its former gas customers are battling with it.
FMBN Partners Presidential Panel To Recoup N43bn From Debtors

FMBN Partners Presidential Panel To Recoup N43bn From Debtors

The Federal Mortgage Bank of Nigeria is partnering with the Special Presidential Investigation Panel for the Recovery of Pubic Property to recoup N43bn from the bank’s debtors.
Nigeria Commodity Exchange

Commodity Exchange Signs MoU To Halt N2.7tn Post-Harvest Losses

The Nigeria Commodity Exchange (NCX) has signed an agreement with the New Nigeria Commodity Marketing Company (NNCMC) to halt post-harvest losses.
NLNG To Embark On $4b Gas Project

NLNG To Embark On $4b Gas Project

The Nigerian Liquefied Natural Gas Limited (NLNG) wants to hire Nigerian firms to develop Train 7 gas project which would boost gas production to 30 million tonnes annually. 

Kaduna State Gets N13.5bn From FG For Social Investment Programme

Kaduna State has gotten over N13.5bn from the Federal Government since the beginning of the National Social Investment Programme in 2015. 
Lagos Chamber Of Commerce Faults Postal Commission Bill

Lagos Chamber Of Commerce Faults Postal Commission Bill

The Lagos Chamber of Commerce and Industry has faulted the Nigeria Postal Commission Bill before the National Assembly.

Nigeria Signs New Country Programme With UNIDO

Nigeria has signed a new country programme with the United Nations Industrial Development Organisation (UNIDO). Concise News reports that the programme, which is worth $60 million...
CBN

$3.2bn Withdrawn From NLNG Dividend Account In 3 Years- CBN

The Central Bank of Nigeria (CBN) has revealed that 22 withdrawals totalling $3.12 billion were made from the Nigerian Liquefied Natural Gas (NLNG) dividends account domiciled in the apex bank in the last three years.
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