nigeria business news

  1. Nigeria Business News

    Business N537 Million Alleged Debt: Donald Duke denies AMCON’s claim – Nairametrics

    Donald Duke, the former Governor of Cross River State, has denied the claim of the Asset Management Corporation of Nigeria (AMCON) that he owed N537,334,360.77. In a statement made available to the public, Duke made known that he was only owing N350 million, which he had repaid. … Read...
  2. Nigeria Business News

    Business FG approves Increment of VAT from 5% to 7.2% – BellaNaija

    The federal government has approved the increment of the Value-Added tax (VAT) from 5% to 7.2%. Value Added Tax (VAT) is payable on goods and services consumed by any person, whether government agencies, business organisation or individuals. The Minister of Finance, Budget and National...
  3. Nigeria Business News

    Business Nigeria Met 2.3 Million Oil Production Assumption In August, Says IEA – Sahara Reporters

    Nigeria produced more oil than its 2019 budget assumption of 2.3 million, as it registered an output of 2.386 million barrels of oil daily in August 2019, according to the International Energy Agency.... Read more via Sahara Reporters – Get more: Nigeria Business News
  4. Nigeria Business News

    Business Expert Advocates New Roles for CEOs, CFOs in Financial Technology Adoption – Thisdaylive

    Following the rise in emerging technologies globally, that are currently shaping financial transactions, a financial technology expert has called for the adoption of new roles for chief executive offices (CEOs) and chief finance officers (CFOs) of financial institutions. This, he said would...
  5. Nigeria Business News

    Business How Nigeria loses billions to crude oil theft, pipeline vandalism – The Nation Newspaper

    In spite of the efforts being made by security agencies, oil companies and other critical stakeholders, Nigeria is still losing thousands of barrels of crude oil daily to pipeline vandalism and theft, writes BISI OLANIYI, Southsouth Bureau Chief The administration of President Muhammadu Buhari...
  6. Nigeria Business News

    Business MTN Group reshuffles leadership roles in multiple African countries – Techpoint.Africa

    MTN Group is shaking up a number of top executive roles in its branches across various countries. Philip van Dalsen, the CEO of MTN Zambia and Freddy Tchala MTN Côte d’Ivoire CEO will both be leaving MTN at the end of September..... Read more via Techpoint.Africa –
  7. Nigeria Business News

    Business FIRS makes N97.7b from tax defaulters – P.M. News

    The Federal Inland Revenue Service (FIRS), has raked in N97.7 billion from tax defaulters since it directed banks to put a lien on their accounts, its Executive Chairman, Mr Tunde Fowler, said on Wednesday in Abuja.... Read more via P.M. News – Get more: Nigeria...
  8. Nigeria Business News

    Business FEC approves VAT increase of 7.2%, targets N7.5 trillion revenue – Nairametrics

    The Federal Executive Council (FEC) has approved an increase the Value Added Tax (VAT) to 7.2% from 5%. The Minister of Budget and National Planning Zainab Ahmed disclosed this to state house correspondents at the end of the cabinet meeting on Wednesday... Read more via Nairametrics –...
  9. Nigeria Business News

    Business Panic As Fire Guts Ibadan NNPC Depot – Tori News

    A fire outbreak has engulfed the Ibadan NNPC depot, causing some serious commotion in the area. Accoding to Punch Metro, fire on Wednesday gutted the Apata Ibadan depot of the Nigeria National Petroleum Corporation..... Read more via Tori News – Get more: Nigeria...
  10. Nigeria Business News

    Business Access Bank Reaping Benefits of Merger, Says Afrinvest CEO – Thisdaylive

    The Group Managing Director of Afrinvest West Africa Limited, Mr. Ike Chioke, yesterday said the recently released first half 2019 results by Access Bank Plc showed that the bank has started reaping its benefits with former rival, Diamond Bank. Chioke, said this in an interview on Arise …...
  11. Nigeria Business News

    Business 1.83 million subscribers dump network operators – The Guardian Nigeria News

    From 2013 to 2018, a total of 1,830,483 subscribers exchanged their network providers through the Mobile Number Portability (MNP) scheme. MNP, which was launched in Nigeria in April 2013, is a service that allows a cellphone or smartphone customer to change … Read more via The Guardian...
  12. Nigeria Business News

    Business Onne Port to reduce ship turnaround time – The Guardian Nigeria News

    The Onne Ports Complex in Rivers State is currently undergoing massive transformation to further reduce the ship turn around time. Turn around time is the amount of time it takes to unload a ship or plane at … Read more via The Guardian Nigeria News – Nigeria and World News –...
  13. Nigeria Business News

    Business Stanbic IBTC Delights Investors with N10.2bn Dividend – Thisdaylive

    Having posted a profit of N36 billion for the half-year ended June 30, 2019, Stanbic IBTC Holdings Plc has rewarded shareholders with an interim dividend of N10.2 billion... Read more via Thisdaylive – Get more: Nigeria Business News
  14. Nigeria Business News

    Business Coronation Research: 34 insurers may exit post-recapitalisation – The Guardian Nigeria News

    The fate of about 34 insurance companies currently operating in the country may be hanging in the balance, with about 25 others having a brighter chance of scaling through, going by the report of Coronation Research. The insurance sector, by … Read more via The Guardian Nigeria News –...
  15. Nigeria Business News

    7 African countries where trade tensions are high in 2019 – Pulse Nigeria News

    A new report by the International Monetary Fund (IMF) has revealed that global trade uncertainty is rising sharply. The report cited escalating trade tensions between the United States and China as the major cause.... Read more via Pulse Nigeria News – Get more...
  16. Nigeria Business News

    Business These billionaires are set to cash out as banks pay interim 2019 dividends – Nairametrics

    If there is one thing that equity investors love to hear the most, it is the word “dividend”. For them, dividend connotes the fruit of their labour and payment for their investments. The most interesting thing about dividends is that the more the number of the shares … Read more via...
  17. Nigeria Business News

    Business Zenith Bank, Dangote Cement, MTN top list of CSR donations in Corporate Nigeria. – Nairametrics

    Nigerian Companies spent about N11.3 billion as charitable donations for the year ended December 2018 compared to about N10 billion a year earlier. This is based on publicly available information from about 17 of the most capitalized companies on the Nigerian … Read more via Nairametrics –...
  18. Nigeria Business News

    Business Mobile Network Operators’ Assets In Nigeria Hit N1.95 Trillion – Nairaland

    Total assets base of mobile operators in Nigeria increased by 130 per cent between 2017, and 2018, hitting N1.95 trillion last year, from N847.97 billion. These assets include all facilities that make communications seamless in Nigeria, like the base transceiver stations, fibre cables, network...
  19. Nigeria Business News

    Business Demand For Local Rice Soars As Border Closure Linger – Sahara Reporters

    There has been a surge in the demand for local rice, with millers unable to meet the ‘excess demand’ of Nigerians, an expert has told SaharaReporters. The rice miller, who chose to stay anonymous, said local rice is now like gold but … Read more via Sahara Reporters –...
  20. Nigeria Business News

    Business IMF: Trade uncertainty rising in Nigeria – TODAY

    The International Monetary Fund has expressed concern over the rise in trade uncertainty in Nigeria and many other economies amid the escalating trade tensions between the United States and China.... Read more via TODAY – Get more: Nigeria Business News