OTHER BUSINESSES

Nigeria is seeking $5.2 billion dollars from the World Bank to expand electricity generation and help the economy recover from its first contraction in 25 years. The bank’s private-sector lending arm, the International Finance Corporation (IFC), may invest about $1.3 billion dollars in power projects and electricity distribution companies. Its...

The Nigerian Civil Aviation Authority on Monday said domestic flight operations declined by 67 percent in the first quarter of 2017, compared to the same period last year. The NCAA’s Consumer Protection Department disclosed that 10,366 flights operated in the first quarter of 2017 compared to the 15,434 flights operated...

No traces of explosives were found on the remains of French victims from an EgyptAir plane that crashed into the Mediterranean in May 2016 , a source close to the French investigation told AFP on Friday. The revelation, the source said, "closes the door" on a theory advanced by Egypt...

The management of NASCON on Thursday assured shareholders of bumper returns on their investment in the company as it has concluded arrangements to roll out more products before the end of this year. When introduced, the new products will enhance the company’s turnover, profitability and ultimately rub-off positively on the...

Oil giant, Royal Dutch Shell, has announced plans to invest about $25 billion this year in Nigeria and all its oil and gas operation across the world. The leading oil exploration company made the announcement in its first quarter 2017 financial results released on Thursday. The report shows that the...

Facebook Founder, Mark Zuckerberg, says the social media platform had 1.3 billion daily active users as at first quarter of 2017. Zuckerberg said on his Facebook page on Wednesday that users increased by 18 per cent on a year-over-year basis. He said the Monthly Active Users (MAUs) was 1.94 billion...

According to a notice sent to the Nigerian Stock Exchange by the company and pasted on the Exchange website on Thursday the Managing Director of the Nigerian Breweries Plc, Mr. Vervelde has resigned from the company. The resignation is to enable him take up a new role within the Heineken...

Farmers benefitting from the Central Bank of Nigeria (CBN) Anchor Borrowers’ Programme have repaid over seven billion Naira from the loans they got. The nation’s apex bank said on Wednesday. The bank said this was contrary to claims that the farmers were unwilling to pay back their loans. The CBN...

MTN Group reported a 7.1 per cent rise in first-quarter group revenue helped by a strong performance in data services, Africa's biggest mobile phone operator said on Wednesday. Ratings agency Fitch downgraded MTN to junk status in April and gave it a negative outlook, citing weakness in the economic and...

Playing host to a select media last Friday at Sabo, Yaba, the Managing Director of Jumia Travel, Kushal Dutta, disclosed that the online travel agency records double-digit growth on a monthly basis. Explaining the company’s achievement, Dutta adds that Jumia Travel has grown 4,000 times from where it started, saying...