Business Hilights

Tracking Nigeria's Headline Business News Online

Business Hilights

Local Rice Production Can’t Be Self-sufficient by 2020—Rice Farmer

Panel discussants at the just concluded made In Nigeria (MAIN) Summit and Exhibition in Lagos have said that the federal government’s dream of making Nigeria self sufficient in rice production by 2020 is not feasible going by the challenges faced…

AfDB Explains Terms on $4.1bn Loan Deals to Nigeria

  AfDB has announced plans to give Nigeria the total of $4.1bn loan to boost investments and job creation in Small and Medium Enterprises (SMEs). Explaining more on the deal recently sealed during his visit to Abuja, President of the…

Falling Naira Forces Experts to Proffer Solutions

The renewed pressure on the exchange rate forcing naira to keep downing as if nothing is being done to contain the challenge is encouraging experts to open up on way forward. Chief Economist and Head of Research at FSDH Merchant…

Banking/Investments

Anxiety as Naira Inches to N500/USD

There are growing concerns in the financial sector following indications that naira is closing in on 55 to 1$. It closed at N490/ USD1 in the parallel market, with dealers expecting further rise today to hit the dreaded N500 mark….

Shell Shuts Down Nigerian Oil Pipeline After Fire Outbreak

Integrated energy major Royal Dutch Shell plc’s RDS.A Nigerian division, Shell Petroleum Development Company, has shut down its Trans Niger Pipeline at Gio in Ogoni due to a recent fire. This pipeline feeds into Nigeria’s strategic Bonny Export Terminal.  …

Full Text of President Muhammadu Buhari Independence Day Speech, Today October 1st, 2016

Today – 1st October is a day of celebration for us Nigerians. On this day, 56 years ago our people achieved the most important of all human desires – freedom and independence. We should all therefore give thanks and pray…

NEPC Accuses NIMASA of Withholding N300m Freight Fund

The Executive Director/Chief Executive of Nigerian Export Promotion Council (NEPC), Mr. Olusegun Awolowo has revealed that the Nigerian Maritime Administration and Safety Agency (NIMASA) is withholding 10 percent levies on freights collection to NEPC as stipulated by law. In his…

FG Alerts H/Court How Chevron, Total Under-declared Crude Export 

Federal High Court seating in Lagos has started hearing on a suit brought forward by the Federal Government against two multinational oil giants, Total E&P Nigeria and Chevron. Whereas the government claimed that Total E&P Nigeria shortchanged Nigeria to the…

Only Agric, Mining, Manufacturing Can Drive Diversification—Dangote

Guest speaker and President of Dangote Group, Alhaji Aliko Dangote, at the 44th Annual General Meeting (AGM) of MAN in Abuja has called on the Federal Government to centre its planned diversification of the economy on a tripod stand of…

CBN Gov’s Wife Regains Freedom After 3 Days With Kidnappers

After three days in kidnapper dean, the wife of the Central Bank Governor, Margaret Emefiele, has been released by her abductors. It was not clear if any ransom was paid even though the adoptors had called on the CBN governor…