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

Nigeria’s Inflation Rate Drops To 16.05%

The National Bureau of Statistics on Monday released the Consumer Price Index, which shows marginal drop from 16.1 percent in June to 16.05 percent in July.

Greenhouse Project Will Generate Jobs All Year – Osinbajo

Vice President Yemi Osinbajo posits that Greenhouse projects will generate jobs for both state and federal governments in years to come.

President Buhari Signs New Bilateral Agreement (Videos)

President Buhari has signed the Instruments of Ratification for a number of agreements covering Anti-Corruption and Tax Admin.

Aliko Dangote To Float N200bn University In Abuja

Founder of Dangote Foundation, Aliko Dangote, has earmarked the sum of N200 billion to establish a world-class university in Abuja.

Glo Takes EFCC To Court Over Fraud Probe

Glo has filed a suit against the EFCC at the Lagos State High Court over an investigation on a petition written against it by a foreign firm.

9mobile Reveals Reason For Service Disruption

9mobile has said a network outage in one of its data centres is the reason for the current service disruption experienced by customers.

FG, States, LGs Share N467.8bn In July

A total of N467.852 billion has been distributed as allocation for the month of July to the federal, state and local governments.

FG Promises More Support For ECOWAS Investment Bank

The federal government has assured the ECOWAS Bank for Investment and Development (EBID) of more support.

Federal Account Revenue Drops To N387.31bn

The federal, state, and local governments shared N467.8 billion in August, Kemi Adeosun, Minister of Finance, said on Tuesday.

Banks Sacked 360 Workers Weekly From Jan To Jun – NBS

The National Bureau of Statistics (NBS) had revealed that 8,663 workers lost their jobs in the first half of 2017.

CBN Lifts Forex Market With $195m

The Central Bank of Nigeria (CBN) on Monday boosted the foreign exchange market by offering a total of $195m in three segments of the market.

Customers Ignore BDC Operators, Trade Directly With Banks

Over 700 Bureau De Change (BDC) operators are inactive in the Central Bank of Nigeria’s (CBN’s) Forex Window as forex end users embrace commercial banks.
Aliko Dangote

I Drive Myself Around On Weekends – Aliko Dangote

Africa's richest man Aliko Dangote has said that he is not a lavish person who likes to show off his wealth, adding that he drives himself on weekends.

Bitcoin Egypt To Launch August Ending

Egypt’s first bitcoin exchange will go live towards the end of August 2017, the founders of Bitcoin Egypt have said.

Niger Delta Unattractive For Business – Shell

The General Manager, External Relations, Shell Petroleum Development Company (SPDC), Igo Weli, on Thursday said the Niger Delta was no longer attractive for investment.

Nigeria Oil Production Cost Drops To $23/Barrel

The Nigerian National Petroleum Corporation has driven down the cost of crude oil production from $78 dollars per barrel as at August 2015 to $23 per barrel.
CBN Announces 9% Interest Rate Loans For Manufacturing, Agric., Other Selected Sectors

CBN Injects $364m Into Forex Market

The CBN has intervened in the inter-bank market to the tune of 364 million dollars to sustain liquidity in the foreign exchange (forex) market.

We Want To Reposition Niger State To Feed Africa – Osinbajo

Acting President Yemi Osinbajo says the federal government is committed to making Niger state an agricultural hub in Nigeria

Nigeria Currently Generates 6,803 MW Power – Fashola

The Minister of Power, Works and Housing, Babatunde Fashola, says power generation and transmission in the country has improved.

Naira Dips Further Against Dollar

The naira on Monday depreciated further against the dollar at the parallel market, exchanging at N367 to the dollar.
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