Business

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

Lagos-Ibadan Rail Line: FG Hands Ultimatum To Contractor
Lagos-Ibadan Railway: FG Hands Ultimatum To Contractor
The Federal Government has handed a two-week ultimatum to the contractor handling the Lagos-Ibadan rail line to deliver the Iju (Lagos) to Agbado (Ogun) section. 
Egina oilfield
Total Nigeria Begins Oil Production At Egina Field
Total Nigeria has said that the company has begun production from the Egina field, located in around 1,600 meters of water depths, 150 kilometers off the coast of Nigeria.
FG Has Released N25bn For N500bn Housing Fund - Minister
FG Has Released N25bn For N500bn Housing Fund – Minister
The Federal Government has disbursed N25billion out of the N500billion mapped out for tackling the country's housing deficit. 
IMF Cautions Nigeria, Others As World Debt Climbs $184tn
The International Monetary Fund (IMF) has said that global debt has gotten to $184trillion in nominal terms, according to a statement on Wednesday. 
Trader Moni: Bank Of Industry Doles Out N12b To 1m Traders
Forbes Rates Nigeria 110th Best Nation For Business
The renowned publication, Forbes, has ranked Nigeria as the 110th best country for business in the world in 2019, out of 161 nations. 
NSE Loses N134bn On First Trading Day Of 2019
The Nigerian Stock Exchange  (NSE) started the year 2019 on the red side with the market shedding N134 billion on Wednesday, January 2.
NACCIMA
Nigeria’s Economy Needs More Growth – NACCIMA
The President of the Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Iyalolode Lawson, says Nigeria's economy needs growth. 
NNPC Says Nigeria’s Refineries Not Too Old
Nigerian Refineries Did Not Get Maintenance In 42 Years – NNPC
The Nigerian National Petroleum Corporation (NNPC), has revealed that the country's refineries have not undergone Turn Around Maintenance (TAM) for an aggregate of 42 years.
NSE Bars Diamond Bank, Others From Corporate Governance Index
The Nigerian Stock Exchange (NSE) has expelled Diamond Bank, Continental Reinsurance Plc and NEM Insurance Plc from its Corporate Governance Index.
Power Firms disagree With Fashola On '2,000MW Stranded' Claim
Fashola’s Power Ministry Budgets N168m For Fuel, Generators
The Federal Ministry of Power, Works and Housing has budgeted  N167.96m this year for the purchase, maintenance and fuelling of generators/plants.
Diamond Bank
Diamond Bank Customers To Use Access Bank ATMs Without Charges
Diamond Bank customers can now use Access Bank Automated Teller Machines (ATMs) without paying the mandatory N65 for each transaction.
US Embassy In Abuja To Resume Consular Services August 24
We’ll Attend To Visa Applicants- US Embassy
The US embassy in Nigeria says its offices in Abuja and Lagos are open for all consular business, including visa interviews.
Innoson
15 Best And Worst Performing Nigerian Banks Of 2018
A list of best and worst performing banks in the year 2018 has emerged with Unity Bank becoming the best performing bank at the exchange for 2018.
NACCIMA
Dredging Of Ports Outside Lagos Not Captured In 2019 Budget – Man
The dredging of the country's ports outside Lagos was not captured in the 2019 budget, according to the Manufacturers Association of Nigeria (Man).
Nigeria Gets $500m Facility For Establishment Of Modular Refineries
Nigeria Loses N96bn From Refineries In Nine Months
The Federal Government-owned refineries lost N96.34bn from January to September 2018 as against N95.09bn in 2017, says the Nigerian National Petroleum Corporation (NNPC).
NMRC Refinances N18bn For Housing Loans
NMRC Refinances N18bn For Housing Loans
The Nigeria Mortgage Refinance Company (NMRC) has said it has it refinanced mortgage loans in the country with N18bn as at December 2018.
FIRS Pays Whooping N4.62tn To FG’s Coffers In 11 Months
The Federal Inland Revenue Service (FIRS) it paid N4.62tn into the federation account between January and November 2018. 
Sirika
Aviation Workers To Begin Strike January 2
The National Union of Air Transport Employees and the Air Transport Services Senior Staff Association of Nigeria have vowed to go on strike by January 2. 
Fashola Says No Budgetary Allocation For Mambilla Power Plant
North-East Power Transmission Capacity Raises By 100% — TCN
The Transmission Company (TCN) has said the power transmission capacity in the North-East has risen by 100 percent. 
Nigeria Commodity Exchange
Nigerians Expect Inflation Rise In 2019- CBN Report
The  Central Bank of Nigeria (CBN) 2018 fourth quarter consumer expectations survey (CES) report, shows that some Nigerians have projected a rise in inflation and borrowing rates as well as naira appreciation in the next 12 months.
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