Coronavirus: CBN reduces interest rate on N3tn intervention fund to 5%

The Central Bank of Nigeria on Monday announced policy measures to tackle the impact of Coronavirus on the economy. The CBN Governor, Mr Godwin Emefiele,...

Dangote to produce 20,000 bpd oil from July – Official

Africa’s richest man, Aliko Dangote, will begin production of oil from two assets he snapped up from Royal Dutch Shell Plc in July, adding...

Petrol imports gulped N1.71tn in 2019, says NBS

Data obtained from the National Bureau of Statistics have shown that the amount spent on petrol imported into the country dropped by 42 per...

Buhari removes Peterside, appoints Jamoh NIMASA DG

The President, Major General Muhammadu Buhari (retd.),  has approved the appointment of Bashir Jamoh as the Director-General of the Nigerian Maritime Administration and Safety...

Economic crisis forces 42 Lagos SMEs to shut down

At least 42 Small and Medium Enterprises in Lagos have been forced to shut down due to huge losses resulting from stifling operating environment. National...

Equities may take more hit on Coronavirus Scare

OPERATORS in the capital market have said that the equities market may witness another massive sell-off this week on the wake of the Coronavirus...

CBN warns banks against misleading customers on domiciliary account

The Central Bank of Nigeria has cautioned  Deposit Money Banks against misleading their customers on transactions carried out through domiciliary accounts in the country. The...

No ban on domiciliary accounts deposits – CBN

The Central Bank of Nigeria has said that it has not prohibited the acceptance of foreign currency cash deposits by Deposit Money Banks. In a...

IPMAN lauds PPMC/NNPC for success of ‘Operation White’

Alhaji Bashir Dan-malam, the chairman, Independent Petroleum Marketers Association of Nigeria (IPMAN), Kano state chapter, has commended the management of PPMC/NNPC for ensuring the success...

Downstream oil sector will witness changes in few years – DPR

Mr Sarki Auwalu, the Director, Petroleum Resources, Department of Petroleum Resources (DPR) says the downstream oil sector will in the next few years witness...

FG, US sign $1.16m for 1,350MW plant feasibility

The Federal Government, through the Nigerian National Petroleum Corporation, and the US Trade and Development Agency signed a $1.16m grant from the agency for...

FG, U.S. sign $1.1m grant for electricity development

The Federal Government and United State Trade and Development Agency have signed a 1.1million dollar grant to support electricity infrastructure development in Nigeria. The agreement...

CBN restricts forex for milk importation, exempts six companies

The Central Bank of Nigeria (CBN) has added milk and dairy products to the list of items not eligible for forex. However, the bank exempted...

Petroleum ministry, DPR to inaugurate national gas transportation

The Federal Ministry of Petroleum Resources (FMPR) in conjunction with Department of Petroleum Resources (DPR) will formally inaugurate the National Gas Transportation Network Code...

Nigeria may stop fish importation by 2022 – FG

The Minister of Agriculture and Rural Development, Sabo Nanono, says following Federal Government’s effort to encourage local production, Nigeria may stop fish importation in...

FG approaches China for $17bn loans

The Federal Government on Tuesday explained why it decided to approach the China-Exim Bank for a $17bn loan request. It said other lending institutions like...
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