Nigerians invade Shoprite, MTN office shut over xenophobic attacks

In a reprisal manner on the widespread Xenophobic attack on Nigerians in South Africa, some Nigerians have invaded Shoprite outlet at Circle Mall in Lekki, and have also staged peaceful protest at Ikeja City Mall, housing a Shoprite franchise. Click here for more.

FG Mobilises Committee To Save Local Firms Over AfCFTA

The Minister of Industry Trade and Investment, Richard Adebayo, has stated that plans are ongoing to set up an action committee to protect local manufacturers.He said the move was imperative to address smuggling post-Africa Continental Free Trade Agreement (AfCFTA). Click here for more.

Bail-Out Fund: FG deducts N122 billion from states’ account in 7-months

The Federal Government (FG) deducted an accumulated sum of N122.4 billion from the monthly allocation due to thirty-five (35) states in Nigeria between January and July 2019. According to the monthly Federal Account Allocation Committee’s (FAAC). Click here for more.

Crude Reserve’ll Hit 40 Billion Barrels In 2023 – NNPC

The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, on Tuesday said significant progress had been made in the ongoing exploration of inland basins and that the target of growing the nation’s reserve to 40 billion barrels by 2023 was realistic and achievable. Click here for more.

Nigeria’s crude oil production to witness eight per cent decline

Nigeria’s crude oil production may witness a steady decline to approximately 7.93 per cent before 2025, a new research, conducted by U.S.-based Orbis Research has said.Being the same year Nigeria has targeted to increase oil reserve to about 40 billion and daily production to about three million barrels per day. Click here for more.

Power: Nigeria, Ghana, others approve cost-reflective tariffs

The governments of West Africa have approved cost-reflective tariffs for power utilities in the sub-region as well as subsidies to support low-income power users, the West Africa Power Pool announced on Tuesday. Click here for more.

Warri Port comes alive as NPA generates $45.2 million from troubled facility

Fresh hope of increased activities has risen for the troubled Delta Port situated in Delta State as the Nigerian Ports Authority (NPA) recorded over $45.2 million income from the facility between January and June 2019. Click here for more.

Nigerian Stock Market Extends Uptrend as NSEASI Inches Up By 0.08%

Equities market closed yesterday on a positive note, as NSEASI appreciated by +0.08% to close at 27,586.79 points as against +0.14% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -12.23%. Click here for more.

Financial Inclusion: FG Plans to Capture 36.6m Nigerians with Micro Pension

The federal government has said that in a bid to achieve its financial inclusion target, it plans to extend pension and insurance coverage to 30 million Nigerians at the grass root levels who do not have access to financial services. Click here for more.

Telecom operators make N2.25tn in 12 months

Telecom operators grew their revenue by 15 per cent in one year to reach N2.25tn in December 2018 from N1.96tn in 2017, a report by the Nigerian Communications Commission has shown. Click here for more.

CBN Notifies Of The Integration Of NAFDAC e-Permit With e-Form ‘M’ On The Nigerian Trade Portal

This is to inform all Authorized Dealers, the Nigeria Customs Service and the General Public that the National Agency for Food and Drug Administration and Control (NAFDAC) has integrated its e-Permit for NAFDAC regulated products with e-Form ‘M’ on the Nigeria Trade Portal. Click here for more.