Business News

Buhari felicitates with `Baba Ijebu’ at 82

President Muhammadu Buhari has felicitated with Ogun businessman Chief Kesington Adebutu as the philanthropist clocks 82 on October 24. The president in a statement issued by his Special Adviser on Media and Publicity, Mr. Femi Adesina, in Abuja on Tuesday, lauded Adebutu’s contributions to the growth of the economy. Buhari also lauded Adebutu for providing jobs to thousands of Nigerians, ...

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Buhari re-appoints Orji as boss of Sovereign Fund

President Muhammadu Buhari has re-appointed Mr. Uchechi Orji as Managing Director of the Nigeria Sovereign Investment Authority (NSIA). This is contained in a statement issued by the President’s Special Adviser on Media and Publicity, Mr Femi Adesina, in Abuja on Thursday. Orji was first appointed in October 2012 for an initial term of five years, renewable for another term of ...

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Internet users jumps to 92m in August, says NCC

The major regulators in the telecoms industry, the Nigerian Telecommunications Commissions has revealed that internet users and data subscribers in the various networks in the country has marginally increased to 92 million in August. The commission made this known in its Monthly Internet Subscribers Data made available on its website on Thursday. According to the commission, the overall figure showed ...

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FG to auction N135bn bonds in two weeks, says DMO

The Federal Government has offered for subscription by auction N135 billion worth of bonds in its September 27 auction, the Debt Management Office (DMO) said. The offer circular obtained from its website on Tuesday in Abuja, stated that it would sell N35 billion of a bond maturing in July 2021 at 14.50 per cent. It would also sell N50 billion ...

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Nigeria exports N3bn worth of goods in Q2, says NBS

The National Bureau of Statistics (NBS) has stated that the country’s total export value stood at N3,102 billion in the second quarter, representing a marginal increase over the first quarter. The NBS stated this in “Foreign Trade in Goods Statistics for Second Quarter 2017,’’ released on Wednesday in Abuja. The bureau stated that the value recorded in the quarter under ...

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NNPC to shut down 3 refineries for overhaul – Baru

The Nigerian National Petroleum Corporation (NNPC) says the nation’s three refineries would be shut down briefly for an overhaul for optimal performance. The NNPC Group Managing Director, Dr Maikanti Baru, said this in Abuja on Wednesday on the sidelines of the inaugural Nigerian Pipeline Security Conference and Exhibition, organised by the Pipeline Association of Nigeria (PLAN). According to Baru, the ...

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Tambuwal appoints new CEO for Sokoto Investment Company

By Musa Gada, Sokoto Sokoto State Governor, Alhaji Aminu Tambuwal has appointed Malam Buhari Dasuki as the new Managing Director of Sokoto Investment Company Ltd. A statement issued in Sokoto Tuesday by Tambuwal’s spokesman, Malam Imam Imam, said the new appointee comes into service with wealth of experience in investment and business portfolio. “He holds a Bachelor of Science degree ...

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Dangote Group to invest over $5b in agriculture, dairy farming in 5 years

Dangote Group of Companies on Tuesday said it would invest 4.6 billion dollars in agriculture and 800 million dollars in the beef and dairy industry in the next five years. The Chairman of the group, Alhaji Aliko Dangote, said this at a three-day National Conference on Transformation of Nigerian Livestock Industry in Abuja. Represented by Alhaji Mansur Ahmed, the Executive ...

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FG hands over Lagos, Abuja international airports to private firms

Vice President, Prof. Yemi Osinbajo,on Monday said the Federal Executive Council (FEC) has approved the concessioning of the Lagos and Abuja International Airports for better management. Osinbajo said this in Abuja at the fifth Presidential Quarterly Business Forum aimed at improving the ease of doing business in Nigeria. “We are working hard to make the airports more passenger friendly, but ...

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Market capitalisation down by 0.44 per cent after Friday trading

By Abimbola Fashakin, Lagos At the close of trading on Friday, a total of 152.47 million shares valued at N3.08 billion were traded in 4,079 deals on the Nigerian Stock Exchange (NSE). In comparison, the figures run against the 222.59 million shares worth N4.17 billion traded in 4,622 deals on Thursday. The development prompted market capitalisation to depreciate by N6 ...

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