Business Hilights Weekly Stock market (Oct 10 to Oct 14, 2016) report
The Nigerian Stock Exchange (NSE) recorded a turnover of 1.163 billion shares worth N9.251 billion in 14,992 deals were traded last week that ended Friday, October 14, 2016 by investors on the floor of the Exchange in contrast to a…
Electricity, kerosene push inflation to 17.9% in September
The National Bureau of Statistics (NBS) has explained more on the content of its September figures. The NBS said, “During the month, the highest increases were seen in the electricity, liquid fuel (kerosene), solid fuels, and fuels and lubricants for…
Former bank executives point way out of recession
Former Group Managing Director, Ecobank Transnational, Mr. Arnold Ekpe, has advised the federal government to reflate the economy through infrastructure development to create economic activities. This is as former Managing Director of defunct Intercontinental Bank Plc, Erastus Akingbola also asked…
Right economic policies can exit Nigeria form recession by 2018–Rewane
Lagos financial expert, and stock market consultant, Bismarck Rewane, has taken the possible time of exit from recession to next two years, 2018 instead of 2017 as touted by the government. The Chief Executive Officer, Financial Derivatives Ltd., said this…
Nigeria must feed self, $20bn import bill killing economy, says Osun Gov
Osun State Governor, Ogbeni Rauf Aregbesola has said time has come for Nigeria to feed itself if it must move forward as a nation. Aggrieved Aregbesola while addressing farmers at Otan-Ayegbaju in Boluwaduro Local Government Area of the state, said…
Lack of access to liquidity hampering power sector – NERC
The Nigerian Electricity Regulatory Commission (NERC) weekend said the challenge bedevilling the nation’s power sector is lack of access to liquidity to promote investment in the sector. The Acting Chairman of NERC, Dr Anthony Akah, said, “There is no doubt…
At last, Buhari orders EFCC to return N10bn to NBC
President Muhammadu Buhari has approved the return of N10bn seized from the National Broadcasting Commission by the Economic and Financial Crimes Commission. This was disclosed by the Director-General of NBC, Mallam Is’haq Kawu, who revealed the development at a press…
Customs accuses Nigerite of importing 200 parcels of cocaine into Nigeria
The Tin Can Island Port Command of the Nigeria Customs Service (NCS) has intercepted and handed over 200 parcels of substance suspected to be cocaine to the National Drug Law Enforcement Agency (NDLEA). Briefing newsmen at the commandweekend, Area Controller…
Nigeria oil production up by 280,700 bpd
Nigeria’s crude oil production has moved up by 280, 700 barrels per day (bpd) from the 1.104 million bpd recorded in August to 1.385 million bpd in September. The Organisation of the Petroleum Exporting Countries (OPEC), made this known in…
Commonwealth candidate Masambu elected director-general of ITSO
Patrick Masambu, a Uganda citizen and former chairman of the Council of the Commonwealth Telecommunications Organisation (CTO) has been elected director-general of the US-based International Telecommunications Satellite Organization (ITSO). He was the only Commonwealth candidate for the position. A former…
