OTHER BUSINESSES

The International Energy Agency said demand growth for oil was slowing while supply was rising and looks set to go on at least six months longer than previously thought. The agency said demand growth for oil was slowing while supply was rising and looks set to go on at least...

Foreign airlines flying to Nigeria have started to refuel abroad to bypass pricey and increasingly scarce, jet fuel as the country battles a hard currency shortage that has made fuel available only at a very high price. According to Reuters report monitored by Business247 News Online, “It is the second...

The Director-General Nigerian Insurers Association (NIA) Mr. Sunday Thomas has urged the public to secure their belongings this period of recession with insurance which remains the best tool to mitigate risks. Thomas, while speaking at the 2000 man match awareness campaign organised by the Association of Registered Insurance Agents of...

A global procurement, handling, clearing and forwarding service, Simplified Corporate Logistics has resolved to help Nigerian business owners, who are currently facing difficulty ordering goods from overseas due to high costs of clearing and logistics. The plan was to reduce their incurred fines and charges, improve their cargo logistics efficiency...

All is now set for the 2016 Commerce & Industry Correspondents Association of Nigeria, CICAN, Crystal Excellence Summit, an annual event organised to reward outstanding institutions and individuals for their creativity and positive contributions to industrial growth and societal development. This year's event, which is the 6th, will attract participants...

Organisation of Petroleum Exporting Countries (OPEC) and other producers can reconcile talks aimed at stabilizing the oil market with the prerogative of Iran, Nigeria and Libya to boost output, according to Algeria’s energy minister. According to Bloomberg report monitored by Business247 News Online, “Iran has the right to increase production...

The Federal government has offered a three-year tax holiday to mining investors to raise as much as $7 billion to develop the nation’s minerals and steel industries. The tax incentive will start "from the date the investor commences mining operations in the country," Mines and Steel Development Minister, Dr. Kayode...

Equity transaction on the Nigerian Stock Exchange (NSE) on Thursday ended bullish as investors renewed their interest in the market. The market gained N18 billion to close at N9.472 trillion while All Share Index gained 51.47 basis points or 0.19 per cent to close at 27,574.09 basis points. The upturn...

The National Bureau of Statistics (NBS) has said that the nation’s telecommunications sector has recorded its biggest addition to Gross Domestic Product (GDP) in six years as it contributed 9.8 per cent of the nation’s GDP in the said period. According to the NBS, the sector contributed as much as...

  NPA to position Calabar Port for trade Nigerian Ports Authority (NPA) is planning to procure additional patrol boats for water security in 2017 The Managing Director of the authority, Hadiza Usman said in Lagos that the procurement would be included in 2017 budget. She added that the management of...