nigeria business news

  1. Nigeria Business News

    Business Upgrade of CAC’s portal not to siphon money: Registrar-General – P.M. News

    Lady Azuka Azinge, acting Registrar-General, Corporate Affairs Commission (CAC), said on Wednesday in Abuja, that the upgrade of the Company Registration Portal (CRP) is to enhance the incorporation process.... Read more via P.M. News – Get more: Nigeria Business News
  2. Nigeria Business News

    Business World Bank Reduces Nigeria’s Growth Forecast By 0.1 Per Cent – Sahara Reporters

    The World Bank on Wednesday revised Nigeria’s economic growth for 2019 from 2.1 to 2.0 per cent. A report by Reuters said that the revision was made in the institution’s ‘Africa’s Pulse report for October. The New York-based global lender had in April predicted that the largest economy in …...
  3. Nigeria Business News

    Business Nigeria Gets UK Court Nod To Proceed With $875m Lawsuit Against JPMorgan – Leadership Newspaper

    A London-based appeals court has rejected US bank, JPMorgan’s bid to have the $875 million case instituted against it by Nigerian government dismissed, thereby affirming the right of the government to pursue the case to logical conclusion. The bank had asked the court to quash the … Read...
  4. Nigeria Business News

    Business FG demands $62 billion from oil majors for past profits based on Supreme Court decision – The Guardian Nigeria News

    Nigeria Nigeria is seeking to recover as much as $62 billion from international oil companies (IOCs), using a 2018 Supreme Court ruling the state says enables it to increase its share of income from production-sharing contracts (PSCs). The proposal … Read more via The Guardian Nigeria News –...
  5. Nigeria Business News

    Business Cross River Assembly reads riot act to multinationals – The Guardian Nigeria News

    Cross River State House of Assembly has ordered Wilmar PZ and other multinational companies operating in the state to obey the laws of the state or face the music. The order became necessary following … Read more via The Guardian Nigeria News – Nigeria and World News –...
  6. Nigeria Business News

    Business Commission delists over 40,000 dormant registered companies for non-performance. – The Guardian Nigeria News

    For non-performance, over 40,000 names of registered companies have been delisted from the nation’s registration records in the last two years by the Corporate Affairs Commission (CAC).CAC said: “We have succeeded to clean up our registration records by delisting … Read more via The Guardian...
  7. Nigeria Business News

    Business IMF says investors’ wait-and-see attitude and depressed private consumption keep Nigeria’s economic recovery at a slow pace – Pulse Nigeria News

    A slow economic recovery is continuing, inflation is falling, and external buffers are declining in the face of increased portfolio outflows. Elevated fiscal deficits rely on central bank financing, which complicates monetary policy...... Read more via Pulse Nigeria News –...
  8. Nigeria Business News

    Business Dangote Laments Low Manufacturing Sector’s Contribution to GDP – Thisdaylive

    The President of the Dangote Group, Alhaji Aliko Dangote, has flayed the paltry contributions of the manufacturing sector to the country’s Gross Domestic Product (GDP). He also advocated urgent steps to reverse the trend if the economy was to make appreciable industrial growth. .... Read...
  9. Nigeria Business News

    Business FG defends VAT increase, says it’ll help struggling states – Vanguard Nigeria

    The Federal Government, yesterday, defended its decision to increase Value Added Tax, VAT, rate to 7.5 per cent from five per cent, stating that the review should have been done nine years ago. Work on VAT implementation, not increase,Ex-ANAN president urges FG Addressing newsmen after the...
  10. Nigeria Business News

    Business Atedo Peterside Decries Nigeria’s Economic Challenges – Thisdaylive

    Founder of Stanbic IBTC Bank Plc, Mr. Atedo Peterside, has expressed regrets on the persistent economic challenges bedeviling Nigeria over the past 25 years. In his anniversary speech delivered at the summit dinner of the 25th Nigerian Economic Summit with the theme: ‘Nigeria 2050: Shifting …...
  11. Nigeria Business News

    Business Shell Units Sued in UK over Nigerian Oil Spill – Thisdaylive

    Two Royal Dutch Shell Plc units were sued over their involvement in one of the largest oil spills in Nigeria’s history. Shell Nigeria Exploration & Production Co. and Shell International Trading & Shipping Co. allegedly undermined the emergency response to the spill eight years ago and made...
  12. Nigeria Business News

    Business Finance Minister, Zainab Ahmed says Nigeria’s VAT collection rate is low – Nairametrics

    As the Nigerian Government is trying to raise revenue through the increase of Value Added Tax (VAT), the Minister of Finance, Budget and National Planning, Zainab Ahmed has lamented Nigeria’s poor collection rate of VAT, saying it is 0.2%, lower than the African average of 0.33%..... Read...
  13. Nigeria Business News

    Business Rwanda launches first ‘Made in Africa’ smartphones – Ladun Liadi’s Blog

    Rwanda’s Mara Group launched two smartphones on Monday, describing them as the first “Made in Africa” models and giving a boost to the country’s ambitions to become a regional technology hub. The Mara X and Mara Z will use Google’s Android operating system and cost … Read more via Welcome...
  14. Nigeria Business News

    Business BUA Group Vows To Crash Prices Flour, Sugar, Others – Nairaland

    Management of BUA Group has promised to crash prices of major food items it produces like sugar, flour, pastas and many others. Since 2016, when Nigeria slipped into recession, the purchasing power of Nigerians has remained low. ... Read more via Nairaland – Get...
  15. Nigeria Business News

    Business Gas flaring: NNPC, others frown over gas price cap – Vanguard Nigeria

    THE Nigerian National Petroleum Corporation, NNPC, has expressed dissatisfaction as the Federal Government continues to fix the price of gas in Nigeria. This, according to the corporation discourages investment, desired to end gas flaring in the country. .... Read more via Vanguard Nigeria –...
  16. Nigeria Business News

    Business Nigerians spent N7.2b on BBNaija votes, N1.5b in final week – The Guardian Nigeria News

    Nigerians spent N7.2b to vote for the 26 housemates in the just concluded Big Brother Naija reality TV show, N1.5b in its final week and spent 2,376 hours … Read more via The Guardian Nigeria News – Nigeria and World News – Get more: Nigeria Business News
  17. Nigeria Business News

    Business ‘Nigeria’s leather industry generates $600m yearly’ – The Guardian Nigeria News

    Minister of Science and Technology, Dr. Ogbonnaya Onu, has disclosed that Nigeria’s leather industry generates between $600m to $800m in revenue for the country annually. He stated this yesterday at the “Validation of the Leather Policy Implementation Plan” organised by the … Read more via...
  18. Nigeria Business News

    Business Nigeria not ready for Internet Pharmacy practice, PSN cautions – Vanguard Nigeria

    Pharmacists under the aegis of the Pharmaceutical Society of Nigeria, Lagos State branch have cautioned against promoting and embracing Internet Pharmacy practice (also known as an online pharmacy) in Nigeria saying such move would only worsen the already bad fortunes of the nation’s drug...
  19. Nigeria Business News

    Business With Two PSB Licences, Telcos Set to Deepen CBN’s Financial Inclusion – Thisdaylive

    Fresh facts have emerged that two out of the three institutions the Central Bank of Nigeria (CBN) recently granted Approval-in-Principle (AIP) to commence operations as Payment Service Banks (PSBs) are owned by two of the leading telecommunications companies (telcos), THISDAY investigation has...
  20. Nigeria Business News

    Business Power sector records N2.2 billion loss, here is why – Nairametrics

    The Nigerian power sector as at Friday, October 5, 2019, recorded an estimated N2.2 billion loss. As disclosed in a daily energy report by the Advisory Power Team office of Vice President Yemi Osinbajo, the loss recorded was..... Read more via Nairametrics – Get more...