Business News

Free fall continues as Nigerian equity market drops further by 0.55%

By Abimbola Fashakin, Lagos The free fall of stocks continued on the Nigerian Stock Exchange (NSE) on Tuesday with the All-Share Index dropping further by 0.55 per cent.

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FG launches waste to wealth programme in Cross River

By Wahab Akanji, Abuja The Federal Ministry of Science and Technology in Collaboration with the Cross River State Government has flagged- off a natural waste to wealth programme, using appropriate technologies.

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Tragedy as NSE market capitalisation loses N74 bn on Monday

By Abimbola Fashakin, Lagos Activities on the Nigerian Stock Exchange (NSE) opened for the week on Monday on a downward trend with the market capitalisation losing N74 billion, amid profit taking embarked upon by investors.

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Ambassador says Nigeria not affected by entry restriction into US

By Wahab Akanji, Abuja The U.S. Ambassador to Nigeria, Mr Stuart Symington, has stated that his home country would not discriminate against any Nigerian on the basis of religion on the new visa regime.

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Dangote tomato firm set to restart production, tours states for materials

By Musa Madobi, Kano Dangote Tomato Processing Factory, Kadawa, Kano State, has begun survey of tomato farms in six major tomato producing states to ascertain the level of availability of the commodity.

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Naira slides to N500/$ at parallel market

By Abimbola Fashakin, Lagos The Naira has finally depreciated further trading at N500 per Dollar the parallel market after it had remained stable for nearly three weeks.

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128 firms bid for NNPC crude, products swap

By Abimbola Fashakin, Abuja The Nigerian National Petroleum Corporation (NNPC) has opened bids from 128 companies that are jostling for this year’s crude/product swap otherwise known as Direct Sale Direct Purchase (DSDP).

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TCN says power generation peaks at 3,528 megawatts

By Abimbola Fashakin, Lagos The Transmission Company of Nigeria (TCN) has stated that the nation’s power generation has improved slightly to 3,528.90 megawatts on February 1 from 2,662 megawatts on January 22.

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FG says Chinese $1.5b loan for Lagos-Ibadan rail project ready

By Wahab Akanji, Abuja The Federal Government has stated that it had secured a $1.5 billion from the China Exim Bank to commence work on the Lagos-Ibadan rail line project.

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Ayade in China, meets Huawei on Calabar Smart City project

By Solomon Akaniyene, Calabar Cross River State Governor, Prof. Ben Ayade and the management team of Information Communication Technology (ICT) giant, Huawei have held their first technical session on the Calabar Smart City Project.

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