archiveOctober 2016

Diageo has scrapped plans to lift its stake in Guinness Nigeria due to tough conditions in one of its biggest markets for the world-famous stout, the drinks company said on Wednesday. According to Reuters’ report monitored by Business247 News  Online, the decision by Diageo, which makes Johnnie Walker Scotch and...

Nigeria’s leading telecommunications firm, Globacom has been ejected from a parcel of land belonging to the Agbereowei family of Bolou-Orua community in Sagbama area of Bayelsa State. The landowners had leased the land to the firm to locate its cell station in the area. A high court in Bayelsa on...

The 2016 Ibrahim Index of African Governance (IIAG) has revealed that Nigeria is one of 10 African countries that have improved across all four sub-categories of Sustainable Economic Opportunity category. The index, which was launched by the Mo Ibrahim Foundation in Abuja, also placed Nigeria 36th out of 54 countries...

The International Monetary Fund (IMF) has said that Nigeria will be out economy recession in 2017, projecting that the nation’s economy will grow by 0.6 per cent next year. According to the IMF World Economic Outlook (WEO) released on Tuesday in Washington, U.S.A., IMF equally projected that the recession will...

President Muhammadu Buhari on Tuesday sent a draft budget for 2017 to the upper house of parliament for approval. According to Reuters’ report monitored by Business247 News Online, the plan assumes an oil price of $42.5 per barrel and production of 2.2 million barrels a day, as well as an...

The Senior Special Assistant to the President on Media and Publicity, Mr. Garba Shehu disclosed on Tuesday that the government is downsizing the presidential air fleet. He said this in a statement that newspaper advertisements for the sale of two presidential aircraft, a Falcon 7x executive jet and Hawker 4000,...

The equity market resumed the first trading day of the last quarter on a negative note as lead key indicator the Nigerian Stock Exchange (NSE) All-Share Index depreciated 0.20 per cent to close at 28,277.93 basis points from 28,335.40 basis points it opened today. Consequently, market capitalisation dropped by N20.5...

The Peoples Democratic Party (PDP) on Tuesday in Yenagoa, described as mischievous and total display of ignorance, claims by the All Progressives Congress (APC) that Governor Henry Seriake Dickson of Bayelsa State was wasting a generation of elders. A statement by the Bayelsa State chairman of PDP, Moses Cleopas, said...

The Financial Reporting Council of Nigeria (FRC) has been honoured with the award of Most Effective Government Agency of the year on formulation and enforcement of accounting, auditing, actuarial and valuation standards in the country for 2016. This award was bestowed on the Council by the Nigeria Media Nite-Out Award...

The Minister of Budget and National Planning, Senator Udoma Udo Udoma has said that success in producing a good 2017 Budget will require strong collaboration between the Executive and the National Assembly. Speaking in Abuja on Monday, Udoma who at the Gallery Colloquium organized by Orderpaper.com on ‘Budget as a...