MTN Nigeria Limited changes to Plc

25 April 2019
MTN Nigeria Limited changes to Plc

MTN Nigeria says it has completed its conversion from a private company to a public company. The telecom company, in a statement on Wednesday, said the conversion to a Plc...

Bitumen, in abundance locally, leads Nigeria’s import chart

24 April 2019
Bitumen, in abundance locally, leads Nigeria’s import chart

The shipping position emanating from Nigerian Ports Authority, NPA, showed that a total of 5.491million metric tonnes of bitumen, a petroleum bye-product, was brought into the country in April, 2019....

Oil prices jump as U.S. set to end Iran import sanction waivers

22 April 2019
Oil prices jump as U.S. set to end Iran import sanction waivers

Oil prices rallied by more than 2 percent on Monday to levels not seen since November 2018 as a Reuters source familiar with the matter confirmed a report that Washington...

Electricity consumers, workers back move to break Discos’ monopoly

22 April 2019
Electricity consumers, workers back move to break Discos’ monopoly

Electricity consumers and workers have expressed support for the move by Nigerian Electricity Regulatory Commission to break the natural monopoly being enjoyed by distribution companies. NERC released last week a...

Nigerians abroad send home $24.3bn

17 April 2019
Nigerians abroad send home $24.3bn

Diaspora remittances to Nigeria stood at $24.3 billion last year. It was the highest remittance to any country in sub-Saharan Africa and an increase of more than $2 billion compared...

3 signs your business will collapse, taken from startups that failed

16 April 2019
3 signs your business will collapse, taken from startups that failed

Lucas Miller • Your startup has a statistically unfavorable road ahead, as history shows 75 percent of venture-backed startups fail. • How your particular startup performs over the long run...

Nigeria’s daily petrol consumption increased by 10m litres in 2 years - PPPRA

15 April 2019
Nigeria’s daily petrol consumption increased by 10m litres in 2 years - PPPRA

Petroleum Product Pricing Regulatory Agency has put the country’s daily supply of Premium Motor Spirit, otherwise known as petrol, at 56 million litres. In a statement signed and made available...

Here’s why Jeff Bezos is so comfortable with failure

15 April 2019
Here’s why Jeff Bezos is so comfortable with failure

Allana Akhtar Despite achieving significant success for Amazon this year, Jeff Bezos told his shareholdersto embrace failure in the coming months. While the tactic may seem counterproductive, experts and CEOs...

Fuel queues return in Lagos

13 April 2019
Fuel queues return in Lagos

Filling stations in some parts of Lagos experienced queues on Friday amid a supply hitch that slowed down the distribution of Premium Motor Spirit (petrol). Our correspondent learnt on Friday...

Why sleeping at work could actually make you better at your job

13 April 2019
Why sleeping at work could actually make you better at your job

Jamie Gruman In days gone by, when our economy was dominated by agriculture and manufacturing, an employee’s value was gauged by their inputs. If they slacked off by not placing...

FG, states spent N428bn to service external debt in 2018

11 April 2019
FG, states spent N428bn to service external debt in 2018

Federal government and the 36 states spent N428.4 billion to service external debt amounting to N7.76 trillion ($25.3 billion) in 2018. The amount spent on external debt services represents 4.7...

Oil edges higher amid tightening global supply, gains capped by economic slowdown

10 April 2019
Oil edges higher amid tightening global supply, gains capped by economic slowdown

Oil prices crept higher on Wednesday, supported by supply cuts by producer club OPEC and U.S. sanctions against oil exporters Iran and Venezuela, but restricted by expectations that an economic...

Zenith Bank appoints new head

09 April 2019
Zenith Bank appoints new head

Zenith Bank Plc. has announced the appointment of Mr. Ebenezer Onyeagwu as Group Managing Director/CEO of the bank effective June 1, 2019, subject to Central Bank of Nigeria (CBN) approval....

Lagos, 3 other states owe over half of states’ foreign debt - DMO

08 April 2019
Lagos, 3 other states owe over half of states’ foreign debt - DMO

Four states of the federation - Lagos, Edo, Kaduna and Cross River - dominate the list of sub-national governments indebted to foreign bodies, statistics obtained from Debt Management Office, has...

Energy poverty and the rise of off-grid energy in Africa

05 April 2019
Energy poverty and the rise of off-grid energy in Africa

On any given day, lobbyists, lawyers, and business people in marble offices on Washington’s historic K street utilize the same amount of energy as the entire nation of Liberia. And...

Oil prices mixed, Brent edges up toward $70 level

04 April 2019
Oil prices mixed, Brent edges up toward $70 level

Oil prices were mixed on Thursday, with Brent edging higher toward the psychologically important $70 level after easing in the previous session on data showing a surprise build in U.S....

N10 trillion wasted on fuel subsidy in 4 years - BudgIT

02 April 2019
N10 trillion wasted on fuel subsidy in 4 years - BudgIT

BudgIT, a leading civic organization that applies technology to intersect citizen engagement with institutional improvement, to facilitate societal change, has asked President Muhammadu Buhari to remove fuel subsidy. The group...

Nigerians spend N8.34bn daily on GSM airtime

28 March 2019
Nigerians spend N8.34bn daily on GSM airtime

Subscribers to mobile telecommunications services in Nigeria spent about N767.23bn on airtime purchase from November 2018 to January 2019, representing N8.34 billion daily, investigations have revealed. This figure is based...

CBN slashes interest rate

27 March 2019
CBN slashes interest rate

Central Bank of Nigeria (CBN) has reduced its Monetary Policy Rate (MPR) from 14.0 per cent to 13.5 per cent. Governor of the bank, Mr. Godwin Emefiele, disclosed this, in...

I lived in Japan for 20 years and saw business there change in 7 big ways

25 March 2019
I lived in Japan for 20 years and saw business there change in 7 big ways

Adrian Shepherd I first stepped off the plane into Japan back in 1994 into Osaka airport, back when Kansai International Airport was still being built. I had no idea what...

Here are tips to ensure you don’t miss out on an online bargain again

24 March 2019
Here are tips to ensure you don’t miss out on an online bargain again

Online auctions are a great way to bag a bargain, but all too often savvy shoppers can find themselves outbid at the last moment. But now an expert has revealed...

Oil prices hover near 2019 highs as OPEC supply cuts support

19 March 2019
Oil prices hover near 2019 highs as OPEC supply cuts support

* OPEC cancels April meeting, extends cuts until June * Rising U.S. output, economic slowdown cap prices Oil prices hovered just below 2019 highs early on Tuesday, supported by ongoing...

CBN plans single-digit interest loan for oil palm producers

19 March 2019
CBN plans single-digit interest loan for oil palm producers

Central Bank of Nigeria on Monday unveiled fresh plans to revive palm oil value chain to enable the sector generate foreign exchange and reduce the level of unemployment in the...

Zenith Bank’s improved profit of N232bn excites shareholders

19 March 2019
Zenith Bank’s improved profit of N232bn excites shareholders

In a clear show of its resilience and strong market share, Zenith Bank has announced an impressive result for the year ended December 31, 2018 with profit before tax (PBT)...

Stock market reverses gains, reverts to losing streak

15 March 2019
Stock market reverses gains, reverts to losing streak

Nigerian equities market has reverted to its losing trend, reversing gains recorded on Wednesday. Investors lost N56bn as market capitalisation of equities listed on Nigerian Stock Exchange dropped from N11.694tn...

The 4 rules of property investing

14 March 2019
The 4 rules of property investing

Property investment requires a lot of knowledge, patience and strong nerves. But once you master all the principles and build up your portfolio, it provides financial security that has you...

US slashes imports of Nigerian crude by 43%

11 March 2019
US slashes imports of Nigerian crude by 43%

United States cut its imports of Nigerian crude oil by 48.87 million barrels or 43 per cent in 2018, according to the latest data released by Energy Information Administration. US...

No more Forex for textiles - CBN

06 March 2019
No more Forex for textiles - CBN

Central Bank of Nigeria (CBN) Governor Godwin Emefiele yesterday announced restriction of foreign exchange to importers of textiles and clothing materials. The move, said the CBN chief, is to revive...

$20bn tax claims slammed on oil firms may delay major projects – Shell

28 February 2019
$20bn tax claims slammed on oil firms may delay major projects – Shell

Royal Dutch Shell said claims that it owes billions in taxes could delay development of a major oil field off the coast of the West African nation. Federal government had...

6 traits shared by most successful CEOs

27 February 2019
6 traits shared by most successful CEOs

Do you have these common traits of great company leaders? Starting a business is not for the faint of heart. According to Bloomberg, eight out of ten new businesses fail...

FG recorded N3.4tn fiscal deficit in 2018

21 February 2019
FG recorded N3.4tn fiscal deficit in 2018

Between January and December last year, Federal Government recorded a fiscal deficit of N3.4tn in its operations, figures obtained from Central Bank of Nigeria have revealed. 2018 budget, signed by...

Oil hits three-month high on OPEC cuts, U.S. sanctions on Iran, Venezuela

18 February 2019
Oil hits three-month high on OPEC cuts, U.S. sanctions on Iran, Venezuela

Oil prices rose to their highest levels since November last year on Monday, lifted by OPEC-led supply cuts and U.S. sanctions on Iran and Venezuela. U.S. West Texas Intermediate (WTI)...

Credit to FG rose 34% in 2018

04 February 2019
Credit to FG rose 34% in 2018

Credit to Federal Government rose by 34 percent to N4.87 trillion in 2018, while credit to the private sector rose marginally by 1.96 percent to N22.73 trillion. This was revealed...

Forex: CBN approves NIPOST, 4 fintechs, others as IMTOs operators

04 February 2019
Forex: CBN approves NIPOST, 4 fintechs, others as IMTOs operators

Central Bank of Nigeria (CBN) last week released the list of 58 firms approved as International Money Transfer Operators (IMTOs) to render international money transfer services. Highlight of the list...

States’ IGR drops in Q3 - NBS

02 February 2019
States’ IGR drops in Q3 - NBS

States Internally Generated Revenue (IGR), including Federal Capital Territory (FCT) dropped to N264.38 billion in third quarter of 2018 (Q3 2018) compared to N279.78 billion in the preceding quarter, according...

The mistake that led to a £1.2bn business

31 January 2019
The mistake that led to a £1.2bn business

When Kristo Kaarmann was kicking himself for being "incredibly stupid", little did he know that it would spark an idea for a business that is now estimated to be worth...

Oil prices rise following U.S. sanctions on Venezuela

30 January 2019
Oil prices rise following U.S. sanctions on Venezuela

Oil prices gained more than 2 percent on Tuesday after the United States imposed sanctions on state-owned Venezuelan oil company PDVSA, a move likely to reduce the OPEC member’s crude...

Connecting African software developers with top tech companies nets Andela $100m

24 January 2019
Connecting African software developers with top tech companies nets Andela $100m

Andela, the company that connects Africa’s top software developers with technology companies from the U.S. and around the world, has raised $100 million in a new round of funding. The...

How Jeff Bezos became world’s richest man

24 January 2019
How Jeff Bezos became world’s richest man

Shoshanna Delventhal Jeff Bezos is now the richest person on earth, with his personal fortune eclipsing the wealth amassed by legendary investor Warren Buffet and Microsoft Corp. (MSFT) co-founder Bill...

FG privatises Warri terminal port

23 January 2019
FG privatises Warri terminal port

Bureau for Public Enterprises (BPE) has signed an agreement to hand over Terminal “B” of the Old Warri Port to a private firm. It said the action followed an approval...