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Nigeria News -Business News updates and Summaries in Nigeria today
  1. RemmyAlex

    Business MTN Is Important To Nigeria, Lawmakers Must Not Scare Them Away - Shittu

    Nigeria's Minister of Communications, Mr Adebayo Shittu has said that MTN is important to Nigeria and must not be scared away as lawmakers investigate alleged illegal money transfers just three months after the government fined Africa's biggest telec...
  2. RemmyAlex

    Business Nigeria To Launch 2 New Satellites With China Loan - Shittu

    The Minister of Communications, Mr Adebayo Shittu on Monday said Nigeria has planned to build and launch two additional satellites to space to improve local communication capacity. This is coming as the Minister warned that Nigeria must not scare aw...
  3. Samguine

    Business Nigeria - 24/01/2017: Today's Naira Rate Against The Dollar, Pounds And Euro

    Today's (24/01/2017) exchange rate of the Nigerian Naira against the Dollar, Pounds and Euros ...
  4. RemmyAlex

    Business Nigeria: “I Am Not Sure I Will Survive, I Used Junior Staff Money For MMM” – Director Cries Out

    Deltans participants in the controversial Ponzi scheme Mavrodi Mundial Movement (MMM) have protested their unpaid financial investments few weeks after the scheme resurfaced to abreast its overwhelming customers its readiness to pay those who invest...
  5. RemmyAlex

    Business Ringier Africa Expands, Launches P Live In Kenya

    Ringier Africa Digital Publishing’s Pulse has expanded to East Africa with P Live and boost partnership schemes for content and promotions. The launch of P Live (www.PLive.co.ke) in East Africa as an extension of the leading new media publisher Puls...
  6. Oluogunjobi

    Business Samsung Explains Why The Galaxy Note 7 Kept Catching Fire

    After recalling 3.06 million Note 7 phones, Samsung Electronics said Monday that problems with the design and manufacturing of batteries in its Galaxy Note 7 smartphones caused them to overheat and burst into fire. The South Korean company was force...
  7. RemmyAlex

    Business CBN's MPC Meets To Discuss Inflation, Exchange Rate

    The Central Bank of Nigeria’s Monetary Policy Committee is meeting (Monday) and Tuesday to review developments in the economy and probably set a new direction for growth for its first monetary meeting in 2017. The 11 members of the MPC meet once in ...
  8. Samguine

    Business Nigeria - 23/01/2017: Today's Naira Rate Against The Dollar, Pounds And Euro

    Today's (23/01/2017) exchange rate of the Nigerian Naira against the Dollars, Pounds and Euros ...
  9. RemmyAlex

    Business How Nigeria Spent N500 Million On Gambia Crisis

    President Muhammadu Buhari-led federal government may have expended not lesser than N500 million towards the deployment of 200 troops to the ECOWAS operations and resolving political impasse in The Gambia, Nigerian Tribune reports. Despite complains...
  10. Lequte

    Business Bismarck Rewane: What Nigeria's Power Sector Needs is a Financial Bailout

    Following reports that FG wishes to grant investors in the power sector further tax holidays, the Chief Executive Officer, Financial Derivatives Company Limited, Mr. Bismarck Rewane, has stated that the sector needs a financial bailout, not a tax hol...
  11. Lequte

    Business Nigeria's Power Generation Drops to 2662MW

    According to the Transmission Company of Nigeria (TCN), Nigeria's power generation capacity has dropped from 3,959 megawatts on Jan. 4 to 2,662 megawatts on Jan. 22. Low water levels at the hydro power stations and dearth of gas to the power generat...
  12. Lequte

    Business FG Concludes Plan to Build 2 Rice Plants in Imo State

    Nigeria's Agriculture Ministry has concluded plans to site two rice plants, one cassava processing plant and one palm oil plant in Nzerem, Ehime Mbano LGA in Imo state. This is part of FG's plans to ensure food sufficiency in the South-East, Transi...
  13. Lequte

    Business Nigeria's Power Generating Capacity 'Notionally' 7,000MW - Fashola

    Nigeria's Minister of Power, Works and Housing, Babatunde Fashola, has stated that the country's power generating capacity has hit 7,000 MW. In a statement by his media aide, Hakeem Bello, Fashola stated that Nigeria's power grid can now support 6...
  14. kemi

    Business How FG, States, LGs Shared N400b January Allocation

    The Federation Account Allocation Committee (FAAC) on Friday shared N400 billion, which is N13.1 billion more than what the three tiers of government shared as revenue in December. The Minister of Finance, Mrs Kemi Adeosun, said the N400 billion ...
  15. kemi

    Business MMM Begins Payment, Issues New 11-point Guidelines

    MMM Nigeria, the most popular ponzi scheme in the country, has started paying outstanding mavro (money) to participants of the scheme, TheCable reports. Kolade Ogunwande, a participant, who manages a number of accounts, told TheCable on Friday th...
  16. RemmyAlex

    Business Why MTN May Suspend Nigeria Listing Until 2018

    MTN Group Ltd. may put off plans to list its Nigerian operation until 2018 as Africa’s largest wireless carrier works to resolve a regulatory dispute and awaits an economic recovery in the continent’s most populous country. MTN had agreed to list th...
  17. Samguine

    Business Nigeria - 20/01/2017: Today's Naira Rate Against The Dollar, Pounds And Euro

    Today's (20/01/2017) exchange rate of the Nigerian Naira against the Dollars, Pounds and Euros ...
  18. kemi

    Business ‘My Father is a Native Doctor’ - MMM Participant Threatens To Kill Mavrodi

    Frustrated by his inability to ‘get help’ a Nigerian participant in Ponzi scheme, MMM, has threatened to kill its founder, Sergey Mavrodi. The participant who claims that his father is a native doctor threatened that his father will kill Mavrodi ...
  19. Lequte

    Business MTN to End Blackberry Services in Nigeria on January 27

    MTN will be stopping Blackberry services in Nigeria starting from the 27th of January 2017. In a message sent to subscribers on Thursday, MTN said: “Dear customer, MTN BlackBerry service will be decommissioned on 27/01/2017. Please upgrade to a sm...
  20. RemmyAlex

    Business Naira Plunges To 498/USD At Parallel Market

    The Nigerian naira plunged further against the United States dollar to a new record low of 498 on Thursday, down from 497 it recorded on Wednesday. The currency had continued to fall since the beginning of the year as experts see the currency hittin...

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