City Business News

Preamble           The World Bank Mid-Term Review (MTR) and Sixth Implementation Support Mission for the Agro-Processing, Productivity Enhancement and Livelihood Improvem...

An Economist Intelligence Unit (EIU) report sponsored by Ericsson (NASDAQ: ERIC) has found that nations with low broadband connectivity have the potential to realize an increase in GDP by up to 20 percent by connecting s...

The National Pension Commision (PenCom), on Monday disclosed that pension fund assets had risen to N12.66 trillion as at June 30, 2021, with contributors under the Contributory Pension Scheme (CPS) hitting the 9.38 milli...

President Muhammadu Buhari on Monday signed the N982.7 billion supplementary budget for 2021 into law.  The Presidency presented the budget to the National Assembly to address urgent security and COVID-19 needs of t...

By Moses Ebosele, ebosele@hotmail.com  — The National Project Coordinator, World Bank  Agro-Processing, Productivity Enhancement and Livelihood Improvement Support (APPEALS),Alhaji Mohammed Sani Jo...

The Central Bank of Nigeria (CBN) on Monday announced immediate discontinuation of the sale of Foreign Exchange (forex) to Bureau de Change (BDC) operators in the country.  Mr. Godwin Emefiele, the CBN Governor, made th...

Transactions on the Nigerian Exchange improved further by 0.21 per cent on Friday. Specifically, the All-Share Index which opened at 38,585.52 inched higher by 82.38 points or 0.21 per cent to close at 38,667.90. Also, t...

For the year ended December 31, 2020, the National Engineering and Technical Company (NETCO), a subsidiary of the Nigerian National Petroleum Corporation (NNPC) has reported N18.02 billion revenue and profit before tax o...

MD/CEO of Heritage Bank Plc, Ifie Sekibo has said that market formation framework is the key to optimally exploit Nigeria’s precious metal and solid minerals endowments.  He disclosed this during a webinar organis...

In commemoration of this year’s National Diaspora Day event, Ecobank Nigeria is joining the rest of the country to celebrate Nigerians in the diaspora by making transactions on its proprietary money transfer app, Rapid...

The eight Nigerians, among them five members of the Maritime Workers of Nigeria (MWUN) kidnapped by gunmen  in Rivers State waters on Monday have regained their freedom.   A statement issued by Assistant D...

The Director-General of Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, has condemned in very strong terms the kidnap of eight Nigerians, five of them members of the Maritime Workers Union ...

South Africa’s logistics company, Transnet SOC has announced that its IT system was hit with a “disruption” that halted operations at the port’s terminals. The company confirmed that the cyber-attack occurre...

The Nigerian Navy Ship (NNS) Delta has handed over MV Platform Care I vessel to its owner,   The News Agency of Nigeria (NAN) reports that the impounded vessel was released to the owner on Friday at the Naval B...

Air Liquide, French gas and technology company has announced that it will become the main partner of the Energy Observer, “the world’s first hydrogen vessel”, for the next four years.  The two partners ha...

All is now set for this year’s edition of the Nigeria Auto Journalists Association (NAJA) Training/Capacity Building programme scheduled for Thursday, July 29, 2021 inside the training hall of Golden Tulip Hotel, along...

One of the exciting take homes from the recently held Lagos Motor Fair was the announcement by Coscharis Motors Plc, Ford brand’s sole authorised dealer in Nigeria, of the nearly Two Million Naira discount on one of Fo...

Toyota Motor Corporation has launched its new Aqua hybrid electric compact car redesigned to realize its mission to ‘introduce sustainable vehicles practically’ and to contribute to carbon neutral...

Suzuki Motor Corporation and Daihatsu are joining a commercial electric vehicle coalition led by Toyota Motor Corporation, the carmakers announced on Wednesday, helping the Japanese alliance expand its focus from tru...

Germany – German auto maker Daimler reaped strong profits in the second quarter as demand for its Mercedes luxury cars continued to rebound from the depths of the pandemic, generating cash that the company can in...

By Moses Ebosele, ebosele@hotmail.com — Mustafa Indimi has been appointed the new Managing Director of Oriental Energy Resources Limited, a leading indigenous oil exploration and production company in Nigeria.&nbs...

Quest Electricity Nigeria Limited has paid N19 billion to acquire Yola Electricity Distribution Company (YEDC), the Bureau of Public Enterprise (BPE) has said.  Mr Alex Okoh, the Director-General of the Bureau of Pu...

Oando Plc has entered into a settlement with the Securities and Exchange Commission in the overriding interest of the shareholders of the Company and the capital market.  This was contained in a Circular releas...

Oil producing nations have agreed to increase their output, with the aim of reducing prices and easing pressure on the world economy.  Under the arrangement, the Opec cartel and partners such as Russia will boost su...

Shell Tankers (Singapore) has inked new charter agreements with Knutsen LNG, Pan Ocean and investors advised by J.P. Morgan Asset Management for six Liquified Natural Gas (LNG) ships, bringing its LNG carrier f...

Managing Director/CEO, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe (R) presenting a gift to Popular Nigerian Blogger and CEO Linda Ikeji TV, Ms. Linda Ikeji when the serial entrepreneur paid a courtesy visit on the  bank...

L-R: Tanzania High Commissioner in Nigeria, His Excellency Dr. Benson Alfred Bana; Founder/Chief Operating Officer TAJBank Limited, Mr. Hamid Joda; and the bank’s Co-Founder/Chief Marketing Officer, Mr. Sherif Idi; whe...

L:R: The New Managing Director, Nigeria Liquefied Natural Gas (NLNG) Mr Phillip Mshelbila, in a handshake with Minister of State Petroleum Resources Chief Timipre Sylva and outgoing MD, Dr. Tony Attah, during the introdu...

R-L: The Acting Managing Director of the Nigerian Ports Authority (NPA), Mohammed Bello Koko, presents the Authority’s plaque to the President Italy-Nigeria Chamber of Commerce, Silvano Bellinato, who paid a working vi...

L-R: Director General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh; Minister of Transportation, Rt. Hon.  Rotimi Amaechi; Acting Managing Director, Nigerian Ports Authority (NPA), M...