Business Hilights

Tracking Nigeria's Headline Business News Online

Industry

LADOL seal partnership deal with Norwegian companies

The Lagos Deep Offshore Logistics (LADOL) is currently working out a strategic partnership package with some Norwegian companies towards oil and gas business development in the country. This was made public when a delegation of the Nigerian-Norwegian Chamber of Commerce…

Africa closes ranks to fight piracy, illegal fishing

Africa will come together to battle piracy and illegal fishing for the first time at an African Union maritime security summit that kicks off in Togo on October 15. The continent urgently needs to fight “extremely high stakes” piracy and…

Fayemi Negotiates $500m Mining Investment Fund with NSIA

The Minister of Solid Minerals Development, Dr. Kayode Fayemi, has disclosed that he is currently negotiating a $500 million investment fund with the Nigerian Sovereign Investment Authority (NSIA), managers of Nigeria’s Sovereign Wealth Fund, to support a long term development…

Anxiety as Intels sacks 300, may ease 1,700 before year end

Leading maritime logistics servicing group, Integrated Logistics Service Limited (INTELS), Nigeria’s foremost oil and gas logistics service provider may have sacked about 300 Nigerian workers and over 20 expatriates members of staff last month. Before the latest mass sack, about…

PMG-MAN boss gives terms on how to bid for FG’s tenders

Managing Director of SKG -Pharma Limited, and President, Pharmaceutical Manufacturers Group of the Manufacturers Association of Nigeria (PMG-MAN), Mr. Okey Akpa has given a recipe on how best the government can grow the industry in Nigeria. In an interview, he…

Industry

Agriculture shortest way out of recession —BoI

The Bank of Industry has disclosed that if Nigeria raises her potentials in many agricultural products, especially plantain and cassava, recession may start to ease earlier than expected. This was revealed yesterday in Ile Ife by the Group Head, Department…

Economy may shrink to 1.3% before end of 2016 – NBS

The National Bureau of Statistics (NBS) has said Nigeria’s economy is likely to shrink by 1.3 per cent before the end of 2016 due to the sharp fall in the naira after dollar peg was dropped in June.   The…

Industry

Tony Elumelu Foundation lifting creative industries—Minister

The Minister of Information and Culture, Alhaji Lai Mohammed, has said the partnership between the Federal Ministry of Information and Culture and the Tony Elumelu Foundation will help to re-position the Creative Industries in Nigeria. Speaking at a ceremony for…

FG now wooing Investors with Permits, Visas on arrival

The Minister of Interior, Abdulrahman Bello Dambazzau recently commissioned 28 Combined Expatriate Residence Permit and Alien Card (CERPAC) Centres with a view to attracting foreign direct investments (FDIs) into Nigeria. The centres, well structured, equipped and staffed with individuals having…

Forex Scarcity forcing Erisco Foods to shut down, may sack 1,500

The foreign exchange crisis rocking the economy may have started taking dangerous tolls on the service and production sectors of the economy as more indigenous firms are closing shops by the day. Only yesterday, another indigenous investor in food processing,…