Nigeria aims to revamp refineries, end oil-for-fuel swaps

Nigeria aims to end the country’s so-called oil-for-fuel swaps system in the near future and rely…

Nigeria’s railway people: Life alongside a high-speed rail link

From Rigasa, the next station is Kakau, then Dutse, then Rijana,” announces Ade, a train conductor…

US auto sales drop less than expected in Q3

Automakers reported better-than-expected third-quarter US auto sales Thursday, pointing to strong demand for trucks and a…

Ivory Coast raises 2020/21 cocoa farmgate price by 21%

Ivory Coast has raised the fixed farmgate price paid to cocoa farmers more than 21% to…

Fresh World Bank, AfDB, IDB loans may raise Nigeria’s debt to N31.7tn

Fresh loan disbursements expected from the World Bank, African Development Bank and Islamic Development Bank may…

Clark, Nwodo, others berate Buhari over $1.9bn Kano-Niger Republic rail

The South and Middle Belt Forum, on Friday, faulted the $1bn railway project announced by the…

American Airlines To Get $5.5bn Loan From US Treasury

American Airlines has agreed to a $5.5 billion loan from the US Treasury as it aims…

Oyo Government Hands over Agbowo Shopping Complex for remodelling

This afternoon, the Governor of Oyo State, Engr. Seyi Makinde flagged off the renovation and remodelling…

FEC Approves $1.9m Rail Line To Niger Republic

The Federal Government on Wednesday approved the sum of  $1,9million for the construction of a rail…

European Stocks Slump 3% On COVID-19 Second Wave Fears

European stock markets nosedived Monday as investors fretted over mounting fears of a second coronavirus wave…

Fashion Industry Will Be One Of Nigeria’s Biggest Sources Of Revenue – Osinbajo

Vice President Yemi Osinbajo is projecting that the fashion industry will be one of the biggest…

FilmOne To Distribute Disney Films In West Africa

Nigerian film distributor, FilmOne Entertainment, has signed an exclusive theatrical distribution agreement with The Walt Disney…

Global Recession Not Deep As Expected – OECD

The global recession this year will not be as deep as expected as a result of…

UK inflation is down to 0.2 Percent on Virus Stimulus

British inflation hit a near five-year low in August on state coronavirus stimulus measures for the…

Why We Stop Importing Foods In Nigeria – Buhari

President Muhammadu Buhari on Tuesday said the Federal Government stopped food importation to boost agriculture and…

Over 1,000 Youths To Benefit From Skills Development Scheme – SMEDAN

Over 1,000 youths are expected to benefit from the National Business Skills Development Initiative (NBSDI) in…

CBN Creates N500m Solar Connection Intervention Facility For Manufacturers

The Central Bank of Nigeria (CBN) has introduced a Solar Connection Intervention Facility to complement the…

Nigerians Should Not Be Punished For CBN’s Failure To Protect Naira – Forex Ban

A senior lecturer in the Department of Economics, University of Abuja, Dr Ahmed Adamu, has said…

Consumers Income Dips As Inventory Of Unsold Manufactured Goods Hit N402bn

The stock of unsold manufactured products has risen to an all-time high of about N402.4 billion…

FG: Five Million Households To Get Solar Home Systems In One Year

The Federal Government has concluded plans to provide solar home systems to no fewer than five…

Petrol Price Increase: President Buhari explain Why Nigeria Cannot Afford Fuel Subsidy

President Muhammadu Buhari has reacted to the increase in the price of Premium Motor Spirit (PMS),…

Ghana settle Trade Dispute with Nigeria, Establish Business Council

Nigeria and Ghana are considering the establishment of a business council, as well as a joint…

International Flights Resumption: Incoming Airlines To Carry 200 Passengers Per Trip – FG

The Federal Government has issued a schedule for the partial resumption of international flights, after months…

Letshego To Ease Nigerians’ Access To Loans With New Website

In a bid to support every Nigerian, Letshego Nigeria, a pan African microfinance bank has launched…

CBN: Resume FOREX Sales To BDC’s On Monday

The Central Bank of Nigeria has said that it will resume sales of foreign exchange to…

China Is Nigeria’s Highest Import Partner, Total Trade At N6.2bn In Q2 – NBS

The demand for goods and services from China is still on the high as the Asian…

Nigerians Pay More For Petrol As Depot Price Hits N151.56

Some petrol stations in Lagos, the country’s commercial capital, started retailing Premium Motor Spirit, popularly known…

Jobberman Acquires Top Recruitment Platform, Ngcareers.com

Jobberman Nigeria and Ngcareers have reached into an agreement where Jobberman acquires 100% of Ngcareers.com, Nigeria´s…

German Unemployment Stabilises In August

German unemployment held steady in August, official data showed Tuesday, as Europe’s largest economy adapted to…

Central Bank of Nigerian Cuts Interest Rate On Savings Deposits To 1.25%

The Central Bank of Nigeria (CBN) has directed deposit money banks in Nigeria not to pay…

Adesina says Youth Entrepreneurship Investment Banks Will Unleash Africa’s Potentials

The African Development Bank (AfDB) has said that the establishment of Youth Entrepreneurship Investment Banks will…

AfDB Will Support Africa With Quality Infrastructure In Healthcare, Manufacturing says Adesina

President of the African Development Bank Group (AfDB), Akinwumi Adesina has promised to give more support…

South Africa’s Annual Inflation Climbs To 3.2%

South Africa’s annual consumer inflation rate climbed to 3.2 percent in July from 2.2 percent the…

European Stock Markets Surge On Vaccine Hopes

European stock markets surged Monday on hopes of a coronavirus vaccine, while the dollar waned on…

GDP Decline: Time To Start Doing Some Things Differently, Says Rewane

Notable economist and adviser to the Federal Government, Bismarck Rewane, on Monday said the latest Nigeria…

European Stocks Extend Gains, Dollar Weakens

European stock markets rose Tuesday, extending the previous session’s gains after a record-lead from Wall Street…

NDLEA Uncovers New Route For Banned Drugs Import

Operatives of the National Drug Law Enforcement Agency (NDLEA) have uncovered a new route used by…

Nigeria To Resume International Flights On August 29

Nigeria will resume international flight operations on August 29, the Federal Government has announced. The Minister…

Cathay Pacific Reports First-Half Loss Of US$1.27 Billion

Hong Kong carrier Cathay Pacific said Wednesday it lost HK$9.9 billion (US$1.27 billion) in the first…

We Cannot Afford To Let Our Economy Slide, PTF Tells Business Owners

The Presidential Task Force (PTF) on COVID-19 has called on Nigerians to take advantage of the…

Uber, Bolt customers to pay more as Lagos introduces new taxes

Customers are set to pay more for ride-hailing services such as Uber and Bolt due to…

Russia’s Economy Shrinks By 8.5 Percent In Second Quarter

Russia’s economy contracted by 8.5 percent year-on-year in the second quarter, the state statistics agency said…

Labour Union Threatens Strike Over Members’ Dispute With MTN Nigeria

The Private Telecommunications and Communications Senior Staff Association of Nigeria (PTECSSAN) has threatened to embark on…

South African Telecoms Giant MTN To Pull Out Of Mideast

Africa’s largest mobile operator, South African telecoms giant MTN, announced Thursday it would pull out of…

European Stock Markets Surge On Growing US Stimulus Hopes

Stock markets surged Tuesday on optimism that lawmakers in Washington will hammer out a new stimulus…

NUPENG Reaches Agreement With Lagos Govt, Suspends Tanker Drivers’ Strike

Fuel tanker drivers under the auspices of the Nigeria Union of Petroleum and Natural Gas Workers…

Buhari Signs Instrument To Establish African Trade Insurance Agency

President Muhammadu Buhari has signed the instrument to establish the African Insurance Agency. The Special Adviser…

Jobberman’s Free Webinar Promises To Be Packed With New Recruitment Trends, Secrets

Leading talent recruitment agency, Jobberman has announced plans to host a free webinar titled ‘Hiring the…

Uber Sees $1.8bn Loss As Pandemic Stalls Revenue

Uber on Thursday reported a $1.8 billion loss in the recently ended quarter as the pandemic…

Microsoft Eyes Entire Operations Of TikTok In Talks – Report

Microsoft has expanded its talks on TikTok to a potential deal that would include buying the…

Brussels Airlines Lost 182 Million Euros In Six Months

Belgium’s biggest airline, Lufthansa subsidiary Brussels Airlines, said Thursday it had lost 182 million euros in…

Lufthansa Posts Q2 Net Loss Of 1.5 Bn Euros As Virus Curtails Travel

German airline giant Lufthansa said Thursday it made a net loss reaching 1.5 billion euros ($1.7…

PPMC Fixes Ex-Depot Price Of Fuel At N138.62 Per Litre

The Petroleum Products Marketing Company (PPMC) has fixed the ex-depot price for Premium Motor Spirit also…

TikTok Lovers Rage Against Trump Threat Of US Ban

A TikTok star pounds a beat as she weaves lyrics mocking the idea of US President…

Bristow Helicopters Sacks 100 Pilots

The management of Bristow Helicopters Limited has terminated the appointment of 100 pilots. In a statement…

We Are Only Expanding Our Retail Business In Nigeria, Says Shoprite

Supermarket retailer, Shoprite, has clarified that it is not leaving Nigeria but rather expanding its business…

Sony Net Profit Jumps 53.3% In Q1 But Virus Clouds Annual Outlook

Sony said Tuesday its net profit surged 53.3 percent in the first quarter, but warned annual…

Air Peace Sacks Pilots, Slashes Salaries Up To 40%

Air Peace, has sacked scores of pilots across its fleet and have slashed staff salaries by…

Bristow Pilots, Engineers Shut Down Operations

Aviation workers under the National Association of Aircraft Pilots and Engineers (NAAPE) have shut the operations…

Planned Shoprite Exit From Nigeria Triggers Mixed Reactions On Social Media

Twitter was filled with mixed reactions and debate after news broke on Monday that South Africa…

Shoprite Initiates Process To Exit Nigeria

One of Africa’s largest supermarket chains, Shoprite, has begun a formal process to exit Nigeria. In…

Banks implement new CBN guidelines on debt recovery

Deposit Money Banks on August 1 commenced the implementation of the Central Bank of Nigeria’s Global…

How a rising German FinTech star crumbled

On April 27, accountancy firm KPMG published the findings on an independent audit commissioned by German…

Lagos Restaurants To Operate Eat-In Services At 50 Per Cent Capacity – Sanwo-Olu

The Lagos State Government says restaurants in the state will be reopened at 50 per cent…

Pentagon Awards Glaxo $342m Contract For COVID Vaccines

The Pentagon on Thursday announced a $342 million contract has been awarded to British pharmaceutical giant…

Eurozone suffers deepest contraction on record

Spain has been plunged into its deepest recession in modern times by the coronavirus pandemic. Its…

High production cost: Kyari blames expatriates, local firms

Nigeria’s highest and unacceptable crude oil production cost comes from indigenous oil firms, the Group Managing…

Hermes First-Half Results Hit By Pandemic, Sales Picking Up

French luxury group Hermes said Thursday the coronavirus pandemic hit profits in the first half of…

Total Suffers First Quarterly Loss Since 2015

Total suffered its first net loss in five years in the second quarter due to the…

Huawei Overtakes Samsung As Top Smartphone Seller

China’s Huawei has overtaken Samsung to become the number-one smartphone seller worldwide in the second quarter…

Samsung Electronics Defies Pandemic With Profit Rise

South Korean tech giant Samsung Electronics defied the coronavirus to report higher net profits in the second…

Shell Dives To $18.1bn Q2 Loss On Coronavirus-Hit Oil Market

Anglo-Dutch energy major Royal Dutch Shell posted Thursday a colossal net loss of $18.1 billion (15.4…

FG Expecting $200m From Netherlands, Switzerland – Malami

The Federal Government says Nigeria is awaiting the return of $200million from the Netherlands and Switzerland.…

Facebook takes the EU to court over privacy spat

Facebook has pushed back against a European Union investigation into its practices, taking it to court…

What the heroin industry can teach us about solar power

If you have ever doubted whether solar power can be a transformative technology, read on. This…

FULL LIST: Buhari Names Train Stations After Several ‘Prominent Nigerians’

President Muhammadu Buhari has approved the renaming of several train stations after many “prominent Nigerians”, according…

No mask, no entry at Abuja-Kaduna train stations: NRC

The Nigeria Railway Corporation (NRC) has declared its facilities and environs a no-mask no-entry zone in…

NLC Rejects 6% Tax On Tenancy And Lease Agreements

The leadership of the Nigeria Labour Congress (NLC) has described the decision of the Federal Government…

Zimbabwe Court Bars Money Laundering Probe Of Telecoms Giant

Zimbabwe’s High Court on Wednesday ruled in favour of the country’s top telecoms operator Econet Wireless…

Microsoft Sees Growth Amid Pandemic Computing Demands

Microsoft on Wednesday reported rising revenues in the past quarter amid strong demand for cloud computing…

CBN Retains Interest Rate At 12.5%

The Monetary Policy Committee of the Central Bank of Nigeria has retained the monetary policy rate…

NNPC suffers 47% drop in petrol sales revenue

The Nigerian National Petroleum Corporation saw its revenue from petrol sales plunge by 47.38 per cent…

How Rivers Witnessed ‘Massive’ Infrastructural Development – Wike

Rivers State Governor, Nyesom Wike, says prudent management of resources has led to massive infrastructural development…

Zimbabwe Police Probe Telecoms Giant, Econet, Over Money Laundering

Zimbabwean police are investigating the country’s top mobile telephone operator Econet Wireless for suspected money laundering,…

Buhari Names Railway Complex After Goodluck Jonathan

President Muhammadu Buhari has approved the naming of the Railway Complex in Agbor – the operational…

Lagos Street Sweepers Get Insurance Cover

The Lagos State Government has insured street sweepers in the state owing to the risks they…

Hackers ‘Manipulated’ Employees To Access Top Twitter Accounts – Report

Twitter says hackers “manipulated” some of its employees to access accounts in a high-profile attack on…

I Did Not Touch Funds Meant For The Niger Delta People – Joy Nunieh

Joy Nunieh the former acting managing director of the Niger Delta Development Commission (NDDC), has finally…

NLNG Denies Withdrawal Of $1.05bn From Dividend Account

The Nigeria Liquefied Natural Gas Limited (NLNG) has condemned the reports that it illegally withdrew the…

Lagos to implement additional reliefs for taxpayers

In furtherance of the commitment to mitigate the negative effect of COVID-19 pandemic on individuals and…

Major US Twitter accounts hacked in Bitcoin scam

Billionaires Elon Musk, Jeff Bezos and Bill Gates are among many prominent US figures targeted by…

No escape for Nigeria’s chronic bank debtors from August

CBN Governor Godwin Emefiele: Global Standing Instruction to curb debtors goes into force from 1 August…

More Airports Reopen Across Nigeria

More airports across the country are now open for flight operations after about three months of…

Okonjo-Iweala, Mamdouh, Mohamed And Other WTO Leadership Contenders Strut Their Stuff

The first three candidates battling to become the World Trade Organization’s next leader were making their…

Huawei: China attacks UK’s ‘groundless’ ban of 5G kit

The Chinese government has said it is “strongly opposed” to the UK’s “groundless” ban of Huawei’s…

Apple has €13bn Irish tax bill overturned

Apple has been told it will not have to pay Ireland €13bn (£11.6bn) in back taxes…

Reps Endorse Ngozi Okonjo Iweala’s Candidacy As DG Of World Trade Organisation

The House of Representatives has endorsed the candidacy of Ngozi Okonjo Iweala as the Director-General of…

Nigeria’s stock market opens week with N55bn loss

The nation’s bourse resumed transactions for the week on Monday with a loss of N55 billion…

FG Hands Over National Arts Theatre To CBN For Rehabilitation

The Federal Government has officially handed over the National Arts Theatre to the Central Bank of…

Atiku Endorses Okonjo-Iweala For WTO Job

Former Vice President Atiku Abubakar has endorsed Dr. Ngozi Okonjo Iweala for the post of Director-General…

Musk Says Tesla Close To Developing Fully Autonomous Car

Tesla founder Elon Musk said Thursday that the world’s recently crowned most valuable auto company could achieve a fully…

Twitter’s Dorsey Donates $3 Mn To Test Universal Basic Income

Twitter chief executive Jack Dorsey has said he will donate $3 million to a group of…