archiveSeptember 21, 2016

      Plans to turn it around, not just ‘business as usual’ President of Dangote Group, Alhaji Aliko Dangote, Africa’s richest man, has re-echoed his plans to buy London-based Arsenal soccer team within four years. Dangote, a Nigerian worth $10.9 billion, according to the Bloomberg Billionaires Index, announced his intention...

The Emir of Kano and immediate past Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi  Lamido Sanusi, has aligned himself with the decision of the Monetary Policy Committee (MPC) of the CBN to retain the Monetary Policy Rate (MPR) and other macroeconomic indicators unchanged. The Emir who was...

Nigeria Customs Service (NCS) Federal Inland Revenue Service (FIRS) and Federal Road Safety Corps (FRSC) yesterday partnered on a project to ensure that all vehicles imported into Nigeria paid duties before registration. The move is to increase government revenue. Customs Public Relations Officer, Mr Wale Adeniyi, said on Wednesday in...

Guinness Nigeria said on Wednesday that it had received a $95 million loan from parent Diageo to help it cope with dollar shortages in the country caused by a slump in crude prices. Chief Finance Officer Ronald Plumridge said the company's currency needs were much bigger than it was able...

Ghana could become the fourth biggest oil producer in sub-Saharan Africa by 2020 once two new offshore fields come on stream, to push total output above 240,000 barrels per day (bpd), pan-African bank Ecobank said on Wednesday. The West African country produces around 103,000 bpd ranking it ninth, far behind...

  Economies are resilient, growth seen accelerating: Adesina African economies are probably through the worst of their downturns and growth should accelerate next year, driven by investments in infrastructure and attempts to diversify from commodities, according to the African Development Bank. The continent’s growth rate may be around 3.5 percent...

  Members of the Special Committee for the Bayelsa state-owned Niger Delta University (NDU) Amassoma headed by Prof. Stephen Odiowei has taken an on-the-spot assessment of the prospects and challenges of the institution. Interacting with the management of the NDU, at the Vice Chancellor’s Conference Room of the university, Odiowei...

The Senate on Wednesday gave 13 recommendations for the President Muhamamdu Buhari-led Federal Government on possible ways of reviving the ailing economy. The Senators made the recommendations at plenary when it commenced deliberation on the economic challenges facing the country. This is contained in a statement issued on Wednesday by...

Amnesty International has said in a report published today that Nigerian police unit set up to combat violent crime has instead been systematically torturing detainees in its custody as a means of extracting confessions and lucrative bribes. According to the international body, “In Nigeria you have signed your death warrant,...

Following an impressive full-year financial result and accounts for 2015, investors’ interest in the share of Conoil Plc, a leading oil marketing company continues to soar as investors staked 11 billion in its shares in one-week. The share price of Conoil opened Wednesday, September 14, 2016 at N26.21 to close...