Business

The Governor of the Central Bank of Nigeria, Godwin Emefiele, says the price per bag of rice has reduced compared to the price it was sold last year during the COVID-19 lockdown in April 2020. He attributed the fall in price per 50kg bag of rice to the various intervention programmes of the apex bank. […]

Nigeria’s mobile internet subscribers decreased by 563,837 in December, with the total number of Internet users dropping to 153.87 million from 154.43 million in November 2020. Latest figures from the Nigerian Communications Commission also showed that broadband subscription fell by 0.12 per cent, from 86 million in November to 85.9 million in December. The NCC […]

French tyre group Michelin said Wednesday it would eliminate up to 2,300 posts in France as it reinforces activities outside its core business. Michelin said the roughly three-year plan would not involve outright layoffs, but consist of not replacing workers as they retire and offering payouts to others who were willing to leave. It employs […]

The President, Major General Muhammadu Buhari (retd.), says the recent reopening of the land borders will boost the fortunes of business owners in the country. Buhari, who stated this in his 2021 New Year Broadcast on Friday, informed West African neighbours like Ghana, Togo, Benin Republic, amongst others that Nigeria is now “fully open” for […]

The Vice President, Prof. Yemi Osinbajo, on Thursday, said Nigeria requires about $3tn over the next 30 years to bridge the infrastructure gap across the country. In his address at a webinar organised by the Bureau for Public Enterprises on deepening the Nigerian infrastructure stock through Public-Private Partnership, Osinbajo said it would be difficult for […]

The Nigerian National Petroleum Corporation has put the value of petroleum products lost from January to August this year at N12.75bn. Data obtained from the NNPC showed that N1.71bn worth of petroleum products was lost in January; N1.83bn in February; N1.59bn in March, and N1.64bn in April and the rest spread over the remaining months. […]

UK Chancellor of the Exchequer Rishi Sunak says the nation’s economy is forecast to contract 11.3% this year, the worst performance in more than three centuries. Sunak told parliament Wednesday that investment was vital to aid economic recovery. Britain has since unveiled plans for more massive state spending despite soaring debt on coronavirus fallout, including […]

The Monetary Policy Committee of the Central Bank of Nigeria has retained the Monetary Policy Rate at 11.5 per cent. The CBN Governor, Godwin Emefiele, disclosed this after the committee’s two-day meeting in Abuja on Tuesday. It also retained the Cash Reserve Ratio and Liquidity Ratio at 27.5 per cent and 30 per cent respectively. […]

The Federal Government is to spend 311 billion naira on the construction and rehabilitation of the 127.6-kilometre Lagos-Ibadan Expressway. Minister of Works and Housing, BABATUNDE FASHOLA disclosed this during an inspection tour, and a town hall meeting on the dual carriageway at Ogere, Ogun State during the weekend. He stated that the government was determined […]

The Vice-President, Prof Yemi Osinbajo, has said the Federal Government may reopen the land borders soon. The President, Major General Muhammadu Buhari (retd), had in October 2019 ordered the closure of the borders to check the menace of smuggling goods and arms and ammunition into the country and protect local businesses. The closure was, however, […]


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