archiveSeptember 2016

Efforts to steer away from oil may allow the country to avoid future commodity shocks, writes Julians Amboko In January 2016, I tabled a prognosis for Nigeria anchored on the premise of an economy set to tread a tight rope between soaring inflation and deceleration of its growth momentum. Seven...

British government has upheld the convictions of jailed former Delta State governor, James Ibori, despite evidence that a British police officer took bribes during the investigation of his case. According to a Reuters’ report monitored by Business247 News Online, Britain’s state prosecution agency said on Thursday. Ibori is currently serving...

Address by His Excellency, Muhammadu Buhari, President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria at the Ministerial Retreat on the Economy and the Budget at the State House Banquet Hall, Abuja, September 15, 2016. PROTOCOLS: I am delighted to be here with you at this...

  The Nigerian Stock Exchange (NSE) equities market segment closed Thursday on a positive note for the fourth consecutive trading session. Investors gained N28.60 billion as market capitalization closed at N9.523 trillion while NSE All Share Index (NSE ASI) also appreciated by 0.30 per cent to settle at 27,725.40 basis...

Unity Bank Plc said it has sacked 215 of its employees and hired 200 as part of its reengineering strategy for greater performance. The lender in a statement obtained by our correspondent said about 100 other staff were promoted recently in its repositioning drive with the attraction of specialist skills...

Nigeria raised 121 billion naira ($372.88 million) in an auction of local-currency bonds on Wednesday, with yields higher across the board, the Debt Management Office (DMO) said on Thursday. According to Reuters report monitored in Lagos by Business247 News Online, the debt office sold 15 billion naira of 2021 paper...

  ...warns of impending depression Dr. Olisa Agbakoba (SAN) has written to President Muhammadu Buhari on "Practical solutions to scale Nigeria's recession" and warned that depression is looming if urgent solutions are not provided. Agbakoba said it was evident now that the oil price shock was the main contributing factor...

...says Nigeria's cultural diversity is strength, not weakness The Bayelsa State Governor, Hon. Seriake Dickson on Wednesday, said the annual Ojude Oba festival of the Ijebu people in Ogun State has further confirmed Nigeria's cultural and ethnic diversity as strength and not a weakness. He made the submission during the...

The Catholic Bishop of Sokoto Diocese, Hassan Kukah, has urged present administration to work at resolving at tackling economic woes and stop passing all the blame of the present predicament facing the country on the administration of Goodluck Jonathan. The respected cleric who spoke with reporters at the Catholic Bishops...

The acting Director-General of the Bureau of Public Enterprises (BPE), Dr. Vincent Akpotaire, has advised electricity companies to borrow from foreign and local sources to improve electricity generation and distribution in the country. Akpotaire gave the advice during the commencement of the agency’s post-privatisation monitoring exercise at the Ibadan Electricity...