Business and Economy

Moody’s Investors Service, an accomplished and highly respected international ratings agency has further confirmed the resilience of Sterling Bank in Nigeria’s competitive banking sector by assigning a Local and Foreign Currency Issuer and Deposit Ratings of B2 with stable outlook. The Agency in a release made available to newsmen in …

A total of 27 partnerships have been agreed by Nigerian and British companies under the auspices of the annual Nigeria-UK engagement programme sponsored by the Shell Nigeria Exploration and Production Company Limited (SNEPCo). The partnerships cover a wide range of oil and gas activities including engineering, maintenance, fabrication and support …

As one of the pioneers of digital banking in the Nigeria, Access Bank Plc has moved a step further with the introduction of a new multi-banking payment solution, called; PayWithCapture. PayWithCapture is a mobile payment solution that permits customers to make payments by scanning a merchant’s pre-generated QR-Code using the …

Zenith Bank, Wednesday, emerged the most traded equity on the floor of the Nigerian Stock Exchange (NSE), on a day the market capitalisation of the exchange lost N119 billion due to profit taking embarked upon by investors. Zenith Bank which traded 48.39 million shares worth N920.39 million, was followed by …

The issue of deregulation of petrol (PMS) price seems inevitable, as well as the deregulation of the refining business in Nigeria. However, we need to be clear on what the challenges are and how we go about deregulating the entire downstream petroleum sector. Recently, the NNPC spokesman Mr Ohi Alegbe …

The Debt Management Office (DMO) says it plans to raise N70 billion worth of bonds in two categories on July 15. The DMO, in its bond circular posted on its Website on Tuesday, said the two categories include a 20-year and a five-year bonds. It said it would issue N30 …

The Shell Petroleum Development Company of Nigeria Ltd (SPDC) has kicked off the second phase of its grassroots campaign against crude oil theft and illegal oil refining activities in Ogoni land. The first phase of the campaign in 2014 reached over 7,000 community people from Eleme, Gokana, Khana, and Tai …

The attention of the Central Bank of Nigeria (CBN) has been drawn to your recent article titled “Toothpick Alert” in the print edition of The Economist Magazine of July 4th 2015. First, the article seems to ignore the fact that the exchange rate is simply a price that is essentially …

By Sam Okey Mbonu, Washington, DC Background He or she who stays silent in the face of evil, shall sooner or later have evil visited upon them; and he or she who holds his or her people down, stays down. The world needs to understand the mind of the Nigerian …

  The naira plunged in informal trading, Wednesday, as importers sought alternative sources for dollars after the Central Bank of Nigeria (CBN) stopped foreign-currency funding for some imports. The currency declined to 230 per dollar from 226, Tuesday, Aminu Gwadabe, president of the Association of Bureaux de Change of Nigeria, …

Nigeria’s external debt stock profile stood at 9.4 billion dollars on March 31, 2015, the Debt Management Office (DMO) has said. The information is contained on DMO’s website, showing the country’s debt stock profile on Monday. The figure shows a decrease of about 300 million dollars from 9.7 billion dollars …

The Authorised Distributors of Mercedes-Benz in the Federal Republic of Nigeria, Weststar Associates Limited appointed Tetralog Nigeria Limited in September 2011, adding them to the list of authorised dealers in Nigeria. Since then the company has been going from strength to strength. Tetralog was incorporated into the automobile distribution and …

Shell Nigeria’s Afam VI Power Plant in Rivers State has delivered over 20million Megawatt-hour (MWh) of electricity into the Nigerian grid between its inauguration in 2008 and June 2015, thereby consolidating its position as a leading contributor to the country’s grid generation. The operations at Afam VI plant have also …

  The Lagos Office of the Shell Petroleum Development Company, last Monday, played host to a delegation from the United Kingdom Trade and Investment led by Director, UKTI, Mr. Chris Maskell accompanied by Senior Trade Development Manager, Mr. Idowu Babalola. The delegation was received at the Lagos Office by Managing …

A new product from Nigeria’s total information and communications technology solutions provider, Globacom, will assist Muslims in their prayers especially during this month of Ramadan. Called Glo Adhan, the new offer is a specially designed Caller Ring Back Tune which alerts Muslims about prayers times and is meant to enable …

  Winners at the World Travel Awards (WTA) Africa & Indian Ocean Gala Ceremony 2015 have been unveiled at the Kempsinki Seychelles Resort Baie Lazare at an event which took place, Saturday, June 20, in the Indian Ocean country of Seychelles. Air Seychelles was among the biggest winners on the …

Emerging media brand in Nigeria, the Global Patriot Newspapers (globalpatriotnews.com) will line out alongside over 200 top travel and tourism professionals and brands for the World Travel Awards (WTA) Africa & Indian Ocean Gala Ceremony 2015, billed for the Seychelles, this Saturday, June 20. The annual event billed for the …

Members of the Nigerian-British Chamber of Commerce recently paid a working visit to the Lagos Office of the Shell Petroleum Development Company. The visit by the Chamber delegation which was led by Deputy President, Nigerian-British Chamber of Commerce, Mr. Dapo Adelegan and the Vice President, Mrs. Theresa Ananyi, also provided …

AGENE Godwin, Benin The Federal Government has been dragged to the Community Court of Justice of the Economic Community of West African States (ECOWAS) by some aggrieved members of the oil producing community of the Niger Delta Region. The aggrieved are asking the court to declare as unlawful and a …

Anambra State governor Chief Willie Obiano has said that small business owners in the state now have cause to cheer. The governor gave the assurance in Awka, Monday, following the inauguration of the Anambra Small Business Agency (ASBA) and the commencement of the disbursement of the N2bn Micro, Small and …

The findings of this year’s Hotel Chain Development Pipeline Survey, produced by W Hospitality Group, a vital strategic advisor to the Africa Hotel Investment Forum (AHIF) , show a surge in hotel development in Africa, with a jump in the development pipeline to 270 hotels and nearly 50,000 rooms, and …

Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Ziakede Patrick Akpobolokemi and 38 other Doctor of Philosophy (PhD) graduates have been formally conferred with their degrees by the University of Port Harcourt (Uniport)at its 30th convocation ceremony, weekend. Dr Akpobolokemi earned his doctorate degree in Strategic Marketing …

African governments, investors, and international financial institutions must significantly scale up investment in energy to unlock Africa’s potential as a global low-carbon superpower. That is the main message of a new report from Kofi Annan’s Africa Progress Panel, Power, People, Planet: Seizing Africa’s Energy and Climate Opportunities (http://www.africaprogresspanel.org). The report …

According to EY’s 2015 Africa attractiveness survey – Making choices, Africa’s share of foreign direct investment (FDI) projects fell 8.4% in 2014, but remained well above pre-2008 levels. However, foreign direct capital investment into the continent surged to US$128b, up 136% in 2014 – a five-year high, with the number …

In order to better understand what African nations need to do to reap the full benefits of the Internet, the Internet Society Friday, released the study “Internet Development and Governance in Africa,” http://www.internetsociety.org/doc/internet-development-and-internet-governance-africa. The report, issued at the Africa Internet Summit 2015 in Tunis, Tunisia, provides a comprehensive overview of …