Business News

MTN Nigeria to be listed in Stock Exchange in 2017

By Abimbola Fashakin, Lagos with agency reports Africa’s biggest mobile phone operator MTN Group, has stated  on Thursday that its Nigeria business unit is on track to be listed on the Nigerian Stock Exchange (NSE) in 2017 as part of an agreement with the Federal Government. 

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FIRS shuts businesses in Lagos, Abuja over tax payment default  

By Wahab Akanji, Abuja The Federal Inland Revenue Service (FIRS) has continued its tax compliance exercise in Abuja and Lagos, on Wednesday by shutting the premises of defaulting companies. 

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FG adopts oil benchmark of $42.5 per barrel for 2017 budget

Nigeria is assuming an oil benchmark price of $42.5 per barrel for 2017 the 2017 budget, $45 for 2018 and $50 for 2019. 

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How Nigeria lost $5.9bn to crude oil theft in 2013-Adio, NEITI boss

 By Wahab Akanji, Abuja The Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Mr Waziri Adio, has stated that the country lost over 5.9 billion dollars in 2013 to crude oil theft. 

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FG restores oil marketers’ right to products distribution nationwide

By Abimbola Fashakin, Lagos  The Federal Government has restored all the rights of the Independent Petroleum Marketers Association of Nigeria (IPMAN) to products distribution in all the depots across the country. 

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DisCos lament funding gap in electricity sector

By Abimbola Fashakin, Lagos  The 11 electricity distribution companies (DisCos) under the umbrella of Association of Nigerian Electricity Distributors (ANED) has stated that since 2013, the funding gap in the power sector is now over N300 billion. 

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NCC confirms MTN’s payment of $96 million for broadband spectrum

By Abimbola Fashakin, Lagos  The Nigerian Communications Commission NCC has confirmed the payment of $96 million by telecommunications giant, MTN, for the purchase of 2.6GHz spectrum auction carried out in the second quarter of the year. 

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Firm signs deal with LMC on listing of football clubs in stock exchange

By Abimbola Fashakin, Lagos A Lagos based company, NASD OTC Securities Exchange and the League Management Company (LMC) have signed an agreement that will open up the potential of the capital market to the professional football clubs.

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Why FG can’t sign economic pact with EU, trade minister

By Musa Madobi, Kano  Minister of State for Industry, Trade and Investment, Hajiya Aisha Abubakar has advanced reason on why the Federal Government has refused to sign the Economic Partner Agreement (EPA) with the European Union.

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Naira weakens slightly against Dollar

‎The Naira on Monday weakened slightly against the dollar at the parallel market, the News Agency of Nigeria (NAN), reports.

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