business news

Aliko Dangote, Africa’s richest man, in the most recent Lunch with the Financial Times (FT), says his $12bn refinery project will make Nigeria the largest exporter of petroleum products in Africa, once complete. He also intends to treat himself to a small indulgence: buying Arsenal, … Read...

As part of its expansion plan on the African continent, Portugal’s biggest construction firm, Mota-Engil, said it plans to invest $1.8 billion in the Nigerian construction market. Manuel Antonio Mota, Chief Executive Officer of Mota’s Africa unit, disclosed this during an interview with...

India, the world’s fastest growing crude consumer has a note of warning for OPEC – start reducing prices, or waning demand will mean a curb in purchases from the crude cartel. At least that’s the suggestion from Sanjiv Singh, chairman of Indian Oil … Read more via BusinessDay : News you...

Lei Jun (center), Xiaomi’s CEO with senior vice president Li Wanqiang (left) and executive director Lin Bin ... Read more via CNET – https://ift.tt/2L3Yh98 Get more: Nigeria Business News

$1.76 billion in battery cells will come from a new CATL plant in Erfurt, Germany. The rest will come from China. Read more via Automotive News Breaking News Feed – https://ift.tt/2L5jEqU Get more: Nigeria Business News

Bamidele Famoofo The Group President, Dangote Group, Aliko Dangote, has signed an agreement with Katsina State government to revive and upgrade the moribund Songhai project in Dutsinma town, under a 10-year lease agreement. The initiative which will see an initial investment of half a billion...

The Securities and Exchange Commission (SEC) has denied receiving any application from MTN Nigeria Limited regarding its proposed Initial Public Offering (IPO). Recall that there were several reports that the Securities and Exchange Commission has given the go-ahead for the long-awaited ...

The financial state of major companies in the Nigerian construction and real estate sector were grossly lousy for the 2017 financial year. However, Julius Berger, Nigeria’s biggest company in the sector, has forecast a 45-percent jump in its revenue for 2018. The construction giant recorded …...

Global shares hit a two-week high on Monday as favorable U.S. jobs data whetted risk appetites, while sterling brushed off the resignation of two ministers over Britain’s departure from the European Union as traders focused on the likelihood of a … Read more via Reuters –...

Africa’s richest man, Aliko Dangote, plans to start selling gasoline, diesel and aviation fuel by early 2020 from an oil refinery he’s building near Lagos, Nigeria’s commercial capital. The $10 billion refinery, set to be one of the world’s largest and process 650,000 barrels of crude a day...

President Mohammedu Buhari 
 The team of lawyers who participated in compelling MTN to pay the N330 billion fine slammed on it in 2015 by the Nigerian Communications Commission for SIM registration breaches will be paid a whopping N500 million fee. The Minister of Justice and … Read...

The Central Bank of Nigeria (CBN) has renewed the mandate of the Board of Skye Bank for additional two years in spite of non-availability of financial statement for 2016 and 2017. The Board has M.K Ahmad and Tokunbo Abiru as its chairman and group … Read more via BusinessDay : News you can...

Innocent Chukwuma, the Chairman of Innoson Motors Ltd, on Wednesday in Lagos failed to appear for his scheduled arraignment for the sixth time over alleged fraud. Chukwuma was scheduled to appear before a new judge, Justice Olusola Williams, at an Ikeja Special Offences Court. Following the...

Africa’s hotel sector has the potential for further growth over the next five years. An increase in the number of foreign and domestic travellers, as well as an expansion in a number of hotel chains on the continent, reinforces the hotel sector’s untapped potential for business growth. …...

The Central Bank of Nigeria has introduced the yuan to Nigerians importing goods from China – The apex bank is wooing local business owners to use the yuan when importing from China – According to the bank, using … Read more via Nigeria News today & Breaking news ▷ Read Naija news 24/7 –...

Prices of oil shoot up Oil prices fell on Thursday after U.S. President Donald Trump sent a strident tweet demanding that OPEC cut prices for crude. The escalating trade row between Washington and Beijing, which triggered another sell-off in Asian stocks on Thursday, was … Read more via PM...

The executive secretary/CEO of the Nigerian Shippers’ Council, Barrister, Hassan Bello, paid a courtesy visit to NEXIM Bank on Tuesday June 25, 2018 to discuss and explore areas of collaboration and synergy between the two organisations. Bello and his team were received by the managing...

Procter & Gamble (P&G) may be shutting its production plant situated in Agbara Industrial Estate, Southwest, Nigeria, exactly one year after launching the $300 million … Read more via pulse.ng – Nigeria’s entertainment & lifestyle platform online – https://ift.tt/2NnUAww Get more: Nigeria...

The Kano/Jigawa Area Command of the Nigerian Customs Service (NCS), says it has generated a total sum of over #8 billion within the last six months of its operation in the year, which is above the mandated of over #7 billion set for it by … Read more via BusinessDay : News you can trust –...

The value of the naira at the Nigeria Autonomus Foreign Exchange (NAFEX) market weakened last week compared to what it closed the previous week as inflow from the window dropped to $796.02 million... Read more via Leadership Newspaper – https://ift.tt/2KNgtE1 Get more: Nigeria Business News