archiveAugust 31, 2016

Despite the sad news today that the Nigerian economy has officially entered recession, the market maintained its bullish run today and it gained N37 billion following the gain of N43 billion yesterday. The Market Capitalization which closed at N9.442 trillion on Tuesday ended the Wednesday trading at N9.479 trillion. The...

Aero Contractors Airlines on Wednesday said that it would  suspend all its scheduled services indefinitely from Thursday September 1, 2016. The airline’s Chief Executive Officer, Mr Fola Akinkuotu, explained in a statement in Lagos that the management decision was part of the strategic business realignment to reposition the airline and...

  AfDB warns African countries against borrowing The Federal Government has approved a three-year plan to borrow more from abroad, Finance Minister Kemi Adeosun said on Wednesday after the economy slipped into recession for the first time in more than 20 years. According to Reuters’ report monitored by Business247 News...

The Central Bank of Nigeria (CBN) has said the National Collateral Registry, which it recently developed with the support of International Finance Corporation (IFC), a member of the World Bank Group, to allow low-income earners and small-scale entrepreneurs to secure loans against movable assets, will not only increase local production...

An annular solar eclipse will be visible in the country tomorrow, 1 September, 2016, the National Space Research and Development Agency (NSRDA) has said. According to NSRDA, Nigerians will witness a solar eclipse between 7:15 am and 10:03 am on Thursday, September 1, 2016, though with slight variations in actual...

...says Aba is SME capital of Nigeria The Governor of Abia State, Dr Okezie Ikpeazu, has restated his government's commitment to provide enabling environment for trade and commerce to thrive in the state. Governor Ikpeazu spoke when he paid a courtesy visit to the British High Commissioner to Nigeria, Paul...

  increases cement price by N600/bag Chief Executive Officer, Dangote Cement Plc, Onne van der Weijde, has said that gas supply disruption in the Niger-Delta region of the country and devaluation of Naira are negatively impacting on the company’s cost of production. He noted that though the sales growth remains...

There was pandemonium at the Arik Air Stand at the Ibom International Airport in Uyo, Akwa Ibom State, over the refusal of the management of the airline staff to explain the incessant cancellation of flights to agitated passengers. The passengers were booked on an Arik Air flight W3 417 to...

The Central Bank of Nigeria (CBN) has reinstated the remaining eight Deposit Money Banks (DMBs) that were recently suspended from the foreign exchange (forex) market. The reinstatement of the banks was announced in Abuja on Wednesday by the CBN Director of Banking Supervision, Mrs. Tokunbo Martins. She explained that the...

  By Olukayode Kolawole Nigeria is blessed with rich natural resources. These resources have, no doubt, contributed meaningfully to the economic growth and development of the country. While some of these resources have been reproduced into things of greater value, such as gold and PMS, DPK, AGO and LPFO products,...