Business

South Africa’s economy regained the position of Africa’s largest in dollar terms more than two years after losing it to Nigeria as the value of the nations’ currencies moved in opposite directions.

It is no secret that the Nigerian economy is in crisis. In the last six months, the official Nigerian currency, Naira, has fallen by almost 50% and there has been an increasing change in the price of goods and services. With pay increases lagging behind and the inflation soaring, the wallet of most Nigerians continue to take a beating as …

Former Minister of Defence and businessman, General Theophilus  Danjuma, has been named Board Chairman by the NatCom Development & Investment Limited “NatCom”, trading as ntel.

African Export Import Bank (Afreximbank) has provided a $150 million funding support for Heritage Bank Limited.

President Muhammadu Buhari has ordered the Nigerian National Petroleum Corporation, NNPC, to increase the tempo on crude oil exploration activities in the northern part of the country.

Hours after the Niger Delta Avengers (NDA) announced the blow up of Nigerian National Petroleum Corporation (NNPC) gas pipeline at Nsit-Ibom L.G.A, Akwa Ibom state, the State Command of the Nigerian Police has confirmed the explosion but attributed it to a technical fault.

The ravaging Niger Delta Avengers on Wednesday called on members of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN and foreigners to leave oil fields and terminals in the Niger Delta because “it is going to be dirty very soon”.

The Management of Transmission Company of Nigeria (TCN), Lagos Region, on Sunday announced a one-day power outage in some parts of Lagos on Monday to effect repairs. TCN announced the outage in a statement by its Public Relations Officer, Mr Celestina Osin, in Lagos. The statement said the areas that would be affected include Ikoyi, Victoria Island, Alagbon, Apapa, Ijora, …

The Police in Rivers State has recovered N60.25m out of the N100m stolen by a bullion van driver. The bullion van containing the cash was reported missing last week Friday after arriving  Port Harcourt from Aba to deliver cash to Zenith Bank and Stanbic IBTC Bank.

The marginal improvement in power supply in some parts of the country has been attributed to increase in power generation occasioned by the raining season.