Dangote reopens Sugar Company in Adamawa, apologises for misunderstanding

- Savannah Sugar Company reopens after a month.- Rehires casual staff.The Management of Dangote Group's subsidiary Savannah Sugar Company in Adamawa have reopened for business after closing up a mont…

Edo State will not be taking any Loans for now says Governor Obaseki

- Edo State will not be borrowing for now.- Obaseki plans to make the state an economic hub.- Plans to improve processes and institutions.Benin - In view of the current economic situation of Edo st…

Please complete your refinery by 2019 - Minister Kachichukwu begs Dangote

- Minister Ibe Kachichukwu begs Dangote to complete Refinery by 2019.- Reiterates the Federal Government's desire to stop fuel importation by December 2019.- Dangote accepts challenge.The Minister of…

Naira remains at 470 as dollar shortage continues

The naira closed flat at 470 against the United States dollar on Monday, the same level it recorded on Friday.The naira had plunged to 470 on Wednesday, down from 455 on Tuesday as fresh dollar short…

AfDB to invest $10bn in Nigeria by 2019, says Adesina

To help Nigeria out of the current recession, the African Development Bank (AfDB) has offered the country a grant of $1 billion as budget support, cumulative loans and financial investments of $10 bi…

CBN rejects Finance minister's call for interest rate cut, retains benchmark rate at 14%

The Central Bank of Nigeria (CBN) yesterday maintained the interest rate at 14%, ignoring demands from the Minister of Finance to reduce the nation's interest rates as a means of reviving the ailing …

Stop destroying local refineries, they are not illegal- IPDI tells military

The military has been urged by the Ijaw People's Development Initiative, IPDI, to stop further destruction of local refineries in the Niger Delta. According to the group, the refineries were not…

CBN Warns Nigerians against "MMM", Calls it Wonder Bank

The Central Bank of Nigeria (CBN) has warned Nigerians to be careful not to deposit money in any institution that is not insured by the Nigeria Deposit Insurance Corporation (NDIC).The bank through i…

Unity Bank Sacks 215 Workers in Repositioning Strategy

Unity Bank Plc has reportedly sacked at least 215 employees for their inability to cope with the new ideas and strategy of the institution while the management has approved severance package in line …

Apple unveils iPhone 7, new Apple Watch and more

Apple on Wednesday unveiled two upgraded versions of its iPhone and a new waterproof smartwatch, seeking to reignite growth for the iconic technology maker.The iPhone 7 and larger iPhone 7 Plus, with…

Sacked Mobil staff demand N11.4bn terminal benefits

A whooping N11.4bn have been demanded as terminal benefits by former workers of Mobil Producing Nigeria, from the management of the oil company. It was learnt that over 1,444 affected people wer…

Nigeria loses one million barrels of crude oil/day- Osinbajo

Abuja, on Tuesday, Vice-President Yemi Osinbajo, who is also the head of President Muhammadu Buhari's economic team, said Nigeria has been losing one million barrels of crude oil daily in the las…

FG is considering visa-on-arrival for foreign investors- Osinbajo

In a bid to remove many perceived bureaucratic bottlenecks clogging the business climate in Nigeria, the Federal Government is seriously considering the option of issuing visa on arrival to forei…

NCC says investment in ICT sector over $35b

    The Nigerian Communications Commission (NCC) on Monday said that over $35 billion had been invested in the nation's telecommunications industry from Foreign Direct Investments.The …

There are no plans to increase the price of fuel- FG

The Federal Government has no plans to hike the price of Premium Motor Spirit, PMS, otherwise known as petrol.This is according to the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, and…

Nigerians kick as NNPC Faults 145 Naira Per Litre Petrol Price Cap

The petrol price cap of N145/litre has been faulted by former Group Managing Directors (GMDs) of the Nigerian National Petroleum Corporation (NNPC), who say it is not harmonious with the liberalizati…

First Nation suspends operations

First Nation Airline has announced the indefinite suspension of its operations.This comes barely 24 hours after another airline, Aero Contractors, suspended its operations indefinitely and sent its w…

Nigeria's economy is not in confusion- Finance Minister

Speaking with State House correspondents at the end of the Federal Executive Council (FEC) meeting presided by President Muhammadu Buhari on Wednesday, Minister for Finance, Kemi Adeosun, declared th…

Banks clarify positions on forex sanction by CBN

Two banks Fidelity Bank Plc and First City Monument Bank (FCMB) Plc have clarified issues relating to their Tuesday's suspension from the Foreign Exchange Market (FOREX) by the Central Bank of Nigeri…

Congo Slashes Growth Forecast After Drop in Copper Production

Democratic Republic of Congo has cut its economic growth forecast for 2016 to 4.3 percent, compared with 6.9 percent last year, due to the impact of low commodity prices on its miningdependent econom…