Economy

Despite years of difficulty in Nigeria, according to a Sun International 0.00% spokesperson, the hotel group will not divest from the country, this comes after Nigeria’s Economic and Financial Crimes Commission launched a probe into the […]

Nigeria’s central bank disappointed financial markets by ignoring calls to devalue the currency, while keeping its benchmark interest unchanged to help support an economy hit by plummeting oil prices. The Monetary Policy Committee held the […]

South African cellphone operator MTN (MTNJ.J) should drop its legal action over a $3.9 billion fine imposed in Nigeria to help facilitate talks on a possible settlement, the Nigerian telecommunications minister said on Tuesday. The […]

ABUJA — The Central Bank of Nigeria (CBN), yesterday, said it would soon fine tune the exchange rate of the Naira, even as the nation’s currency depreciated further to N305 against the dollar in the […]

There are strong indications that the Federal Government may set up a dispute resolution board on the crisis currently stalling the Lagos-Ibadan Expressway reconstruction project. It was gathered on Monday that the Minister of Power, […]

LAGOS — As oil prices continue on the downward slide, Nigerian oil firms may be producing at up to $5/barrel loss, as average production costs for independent and marginal field producers is between $30 and […]

ABUJA — The Federal Government has said that it had not closed any criminal case being investigated in the country, technically raising the potential for some prominent Nigerians implicated in the legendary Siemens and Halliburton […]

Nigeria plans to sell as much as $1 billion of Eurobonds to help fund a record budget deficit this year, Finance Minister Kemi Adeosun said. Officials from Africa’s biggest oil producer plan to hold non-deal […]

The Naira exchange rate has suffered severe battering in recent times and fallen from about N160 to the present N197=$; indeed, since our national experience defines a close correlation between deepening poverty and weakening Naira […]

I truly do not like it when I have to write about an issue in our country and I have this déjà vu feeling that I already wrote about it in the past. That has […]

Nigeria increased this year’s budget deficit forecast by 36 percent after oil prices fell below the $38 per barrel benchmark set by Africa’s top producer. The gap will increase to 3 trillion naira ($15.1 billion), or […]

The Federal Government said it had commenced the review of laws guiding the privatisation and concession of public assets in the country. The Minister of Power, Works and Housing, Mr. Babatunde Fashola, stated this in […]

The Lagos Chamber of Commerce and Industry (LCCI) has called on the Central Bank of Nigeria (CBN) to lift the foreign exchange restrictions it placed on  41 items, saying the measure was no longer necessary, […]

ABUJA — The Federal Government, weekend, hiked the price of Household Kerosene (HHK) to N83 per litre from N50 per litre, thereby, officially ending subsidy on the product. The Petroleum Products Pricing Regulatory Agency, PPPRA , […]

John Holt Nigeria Plc posted an operating profit of N1.63 billion for the year ended September 30 2015, an 18.50 percent reduction from N2 billion the previous year. The company with interest in businesses ranging from […]