nigeria business news today

The National Bureau of Statistics (NBS) says Automated Teller Machines (ATMs) from selected banks across the country recorded transactions valued at N1.568 billion in first quarter. The NBS stated this in its Selected Banking Sector Data for first quarter, 2018, posted on its website. Read...

There are indications that the naira may begin to gain strength in the days to come as Nigerian banks conclude plans to open shops in China. This followed the pact signed by both the Central Bank of Nigeria (CBN) and the People’s Bank of China (PBOC) on a RMB15 billion (about N720 billion)...

The Federal Inland Revenue Service (FIRS) collected taxes to the tune of N1.171 trillion between January and March 2018. The figure is N393 billion higher compared to N778.1 billion collected same first quarter of 2017. Read more via Newtelegraph – https://ift.tt/2HZkwis Get more...

In compliance with the Fiscal Responsibility Act of 2007 (FRA 2007), the Nigerian Communications Commission (NCC) remitted N49.79 to the Federal Government Consolidated Revenue Fund (CRF) Read more via The Sun News – https://ift.tt/2Hy2OPA Get more: Nigeria Business News

Lagos State Commissioner for Economic Planning and Budget, Mr Olusegun Banjo, on Tuesday said the state recorded a revenue of N141.96 billion in the first quarter of 2018. Banjo said this at the ongoing ministerial briefing to mark Gov. Akinwunmi Ambode’s third year in office at Alausa, …...

A file photo taken at a food market The Nigerian economy has recorded a drop in the inflation rate for the 14th consecutive time since January 2017, the National Bureau of Statistics (NBS) said. Read more via Channels Television – https://ift.tt/2GQLjO9 Get more: Nigeria Business News

Hope of timely execution of the Ajaokuta-Kaduna-Kano gas pipeline projects brightened on Friday as the Nigerian National Petroleum Corporation (NNPC) announced the execution of contracts for the engineering, procurement, construction, commissioning and financing deals with a consortium of...

The federal government has expressed confidence that operations at the Lekki Deep seaport in Lagos State when completed would rake in over $200 billion. Read more via Leadership Nigeria Newspapers – https://ift.tt/2GXZjES Get more: Nigeria Business News

The financial services industry (measured by volume) led the activity chart of the Nigerian Stock Exchange last week with 1.024 billion shares valued at N10.946bn traded in 11,019 deals. The industry contributed 66.44 per cent and 65.75 per cent to the total equity turnover volume and Read...

There are strong indications that Konga, the e-commerce recently acquired by Zinox Group, will merge with Yudala this month. Our correspondent gathered from reliable sources in the company that the move was part of the ongoing restructuring of the company aimed at building a strong brand...

The Federation Accounts Allocation Committee has suspended the revenue crisis that made it impossible to share the statutory allocation on Tuesday to pave way for the disbursement of funds to the three tiers of government. The meeting had ended in a deadlock on Tuesday following disagreement...

Mobile money has not just changed the economic and social fabric of Africa. It has changed the world. Latest research shows that in 2017, the mobile money industry processed transactions worth USD$1 billion dollars a day, generating direct revenues of over $2.4 billion. Read more via...

Advertising practitioners in Nigeria must be popping champagne for victory in their continuous stand against illegality. This is as Buhari government has seen reasons to reverse itself on the appointment of politicians and non-advertising practitioners into APCON council against the law. In...

A major relief may have come the way of the troubled downstream sector of the petroleum industry as there are indications that the Federal Government has finally sent a document to the national assembly seeking approval for payment of N650 billion subsidy arrears owed oil marketers. Read...

A member of the House of Representatives, Rep. Abiodun Olasupo, says about N400 billion was spent on importation of raw sugar from 2013 to 2016 in Nigeria. Olasupo, representing APC-Iseyin/Itesiwaju/Kajola/Iwajowa Federal Constituency, told newsmen in Iseyin on Sunday evening that this was in...

Kebbi State governor, Atiku Bagudu has disclosed that rice production has risen from 5.7 to 17 million metric tonnes per annum in two and a half years. He made the disclosure to State House Correspondents after a meeting with President Muhammadu Buhari at the Presidential Villa. Read more...

Chineme Okafor in Abuja An analysis of the December 2017 edition of the monthly operations and financial reports of the Nigerian National Petroleum Corporation (NNPC) has revealed that Products and Pipelines Marketing Company (PPMC) exceeded the projected loss in its year-to-date (YTD)...

MTN, Nigeria’s leading telco, has dropped a hint that it would soon offload 30 per cent of its shares to Nigerian investors, after 16 years of making handsome profit in the economy. Though proceeds from the listing will be spent on paying fines slammed on the firm by the Read more via...

Private equity firms are expanding their investments in secondary school education in Nigeria and across Africa to meet the rising demand for quality education by the country’s expanding middle-class parents. The sharp depreciation in the naira, which has led to a significant rise in Read...

As Nigerians groan from the effects of the current fuel scarcity, the Department of Petroleum Resources (DPR) has wielded the big stick against erring fuel marketers. Mohammed Saidu Public Relations Officer for the agency revealed this at a press briefing help in Abuja. Saidu also stated that...