Business and Economy

Lagos State Commissioner for Agriculture, Mr. Toyin Suarau on Tuesday reiterated the resolve of the State Government to increase the aggregate food supply of the State from less than 15 per cent to 25 per cent within the next four years through various projects and programmes. Suarau who said this …

The all new Dodge Durango is back with its latest innovations. Dodge is known to never compromise power for fuel efficiency. This spacious seven-seated SUV is equipped with lush detailing externally and internally. It possesses sufficient best-in-class features to keep passengers basking in the euphoria of this family size vehicle. …

The Obijackson Group, one of the fastest growing conglomerates in Sub-Saharan Africa, has stated that it is attending the Offshore Technology Conference (OTC) holding in Houston, United States of America from May 2 to 5, 2016 for economic ambassadorial purposes. It noted that its obligations to the nation includes projecting …

Nigeria LNG Limited (NLNG), Thursday, at a public hearing called by the Federal House of Representatives Committee on Gas Resources, restated its commitment to the development of the Niger-Delta and willingness to partner with government agencies, including the Niger Delta Development Commission (NDDC), to develop the region. At the public …

Foremost financial institution, Guaranty Trust Bank plc, has extended its annual One-on-One consultation for children with Autism and other developmental difficulties to Ogun State. The five day programme, which is free and open to the general public, began on Monday 25th April,2016 at the June 12 Cultural Centre, Kuto, in …

The market capitalisation of the Nigerian Stock Exchange (NSE), Tuesday rebounded by N20 billion due to moderate gains posted by some blue chips. The market capitalisation, which opened at N8.518 trillion inched N20 billion or 0.23 per cent to close at N8.538 trillion. Similarly, the All-Share Index rose by 58.76 …

Shell Petroleum Development Company of Nigeria Limited (SPDC), which is the operator of the SPDC joint venture, divested interest in three onshore leases and a major pipeline in 2015. The company, which made this disclosure in its 2015 Sustainability Report released recently, said that the company’s performance metrics for Nigeria …

Access Bank Plc has announced its unaudited results for the period ended 31 March 2016, showing 42% increase in Profit After Tax. Access Bank, the full service commercial bank with headquarters in Nigeria, with operations across Sub-Saharan Africa, the UK, Asia and the Middle East, maintained its robust profitability, recording …

Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has disclosed that the Federal Government needed $700 million to upgrade its refineries to produce at maximum capacities. Kachikwu, who is also the Group Managing Director of Nigerian National Petroleum Corporation (NNPC), disclosed this, Saturday, while speaking with newsmen during the …

Federal Government, Sunday, insisted that its decision to defer the debts owed by states from the bailout they received last year would not have any negative impact on creditors and bondholders. Minister of Finance, Mrs. Kemi Adeosun, who made the clarification in a statement, said all debt repayments due to …

President Muhammadu Buhari insisted Friday in Abuja that he was yet to be convinced that the vast majority of ordinary Nigerians will derive any tangible benefit from a devaluation of the Naira. Speaking at a meeting with members of the Council of Retired Federal Permanent Secretaries, President Buhari said that …

The administration of President Muhammadu Buhari has in recent times faced criticisms by some Nigerians who engage in a debate on seemingly low pace in meeting the expectations of the people in terms of providing their electricity needs. While some people believe that it will take quite some time before …

The Petroleum Technology Association of Nigeria (PETAN), a foremost association of indigenous service companies has commended the pioneering role of Shell in the development of Nigerian content in the oil industry. “Most of us have our roots here,” said the Chairman of the association, Bank Anthony Okoroafor, as he led …

Guaranty Trust Bank plc has released its unaudited financial results for the first quarter ended March 31, 2016 to the Nigerian and London Stock Exchanges. A review of the 1Q 2016 result shows that the Bank continued to consolidate on its position as one of the most profitable and well …

Zenith Bank Plc has posted a Profit After Tax (PAT) of N26.573 billion for the first quarter ended March 31, 2016, showing a decline of about four per cent compared to N27.680 billion recorded in the corresponding period of 2015. The bank ended the period with gross earnings of N84.177 …

The Director General of the Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Dakuku Peterside has reiterated Nigeria’s commitment to continue to set high standards for vessels and oil platforms operating within Nigeria’s territorial waters in line with the Safety of Life at Sea Convention (SOLAS ’74). Dr. Peterside said …

In recognition of its excellent risk management practices, Sterling Bank was conferred with the award for the Best Bank in Nigeria in the Banking and Investment Services category of the Nigeria Risk Award (NRA) for 2015. The Award was presented to the Bank last weekend at Nigerian Economic & Social …

Foremost African financial institution, Guaranty Trust Bank plc, has partnered African-focused entrepreneurship accelerator, She Leads Africa (SLA) and the Work in Progress! Alliance (Oxfam and VC4Africa) to launch the She Leads Africa Accelerator, a 3 month program designed to identify, support and fund the next generation of Nigeria’s brightest female …

Nigeria’s Finance Minister, Kemi Adeosun, at the ongoing Spring Meetings of the IMF/World Bank on Friday, explained why the Federal Government is not excited about calls to apply for loan facility from the International Monetary Fund (IMF) to tackle some of the current economic challenges that Nigeria is facing due …

Senate President, Dr. Abubakar Bukola Saraki has mandated the Senate Committee on Power to liaise with the Central Bank of Nigeria (CBN), Federal Ministry of Finance on how to address the debts owed to the Electricity Generating Companies (GENCOs) in the country. He also directed the Committee to meet with …

By James Eze History was made earlier Thursday when the Governor of Anambra State, Chief Willie Obiano, formally commissioned the state’s first modern shopping mall in Onitsha. The mall which sits on a 40,000 square meters of land located in highbrow GRA has 12,000 retail spaces to let, 70 in-line …

Managing Director, Nigeria Liquefied Natural Gas (NLNG), Mr Babs Omotowa, Tuesday, said that the company had paid $55 billion (about N10.8 trillion) to the Federal Government, Joint Venture and other stakeholders since 2007. Omotowa made the disclosure at its public presentation of 2016 Facts and Figures to newsmen in Lagos. …