Economy – Page 255 – City Business News

March 12, 2020 No Responses

Jos Inland Dry Port Gets New Investor

By Moses Ebosele, ebosele@hotmail.com The Inland Container Depot (ICD) in Heipang, Jos, Plateau State is set to get a new investor following the buyout of the Duncan Maritime Ventures, the concessionaire of the project.Addressing stakeholders in Lagos , Executive Secretary, Nigerian...

March 11, 2020 No Responses

Nigeria To Reduce Cost Of Crude Oil Production

The Nigerian National Petroleum Corporation (NNPC) has expressed its readiness to strategically put in place measures that would alleviate the cost of crude oil production in Nigeria to create market for Nigeria’s crude and make Nigeria a choice destination ...

March 10, 2020 No Responses

Senate Passes Companies And Allied Matters Amendment Bill

The Senate on Tuesday passed the Companied and Allied Matters Act amendment bill, 2020.The passage of the bill by the upper chamber was sequel to a clause-by-clause consideration of the bill in a committee of the whole.The piece of legislation...

March 10, 2020 No Responses

Anxiety As Global Recession Looms

A global recession is now almost inevitable this year, the Chief Executive Officer of one of the world’s largest independent financial advisory and services organizations, Nigel Green, has said The warning from Nigel Green, chief executive and founder of deV...

March 9, 2020 No Responses

Nigeria Unveils $1b Locally-Assembled Vehicles

The Ministry of Industry, Trade and Investment in collaboration with the National Automotive Design and Development Council (NADDC) on Monday commissioned $1billion worth of locally-assembled vehicles.The vehicles are locally produced by 17 companies including...

March 5, 2020 No Responses

Senate Approves FG’s $22.7b Loan Request

The Senate on Thursday, approved 22.7 billion dollars as external borrowing plan for Nigeria out of the 22.8 billion requested by President Muhammadu Buhari.This followed the adoption of the report of the Committee on Local and Foreign Debts on the...

March 4, 2020 No Responses

Reps Approve N346.3b NDDC 2019 Budget

The House of Representatives has passed the 2019 Appropriation bill of N346.388 billion for the Niger Delta Development Commission (NDDC), for its 2019 operations.This was sequel to a unanimous adoption of a report on the bill by the NDDC Chairman,...

March 4, 2020 No Responses

Again, Zenith Bank Emerges Most Valuable Banking Brand In Nigeria

Foremost financial institution, Zenith Bank Plc has again emerged as the Most Valuable Banking Brand in Nigeria in the new Banker Magazine Top 500 Banking Brands 2020.For the third consecutive year, Zenith Bank has been ranked as the number one...

March 2, 2020 No Responses

Minister Visits Stallion Group Rice Mill, Lauds Additional $70m Investment

The Minister of Agriculture and Rural Development, Alhaji Sabo Nanono has paid a scheduled visit to Popular Farm and Mills Limited, a member of Stallion Group.During the visit, the Minister who was accompanied by his special adviser, Prof Sabagi, H...

February 25, 2020 No Responses

Nigeria Begins N46.83b Agric Scheme In Niger Delta

The Nigerian Government has engaged 140 trainees to support the take-off of $129.17m (N46.83 billion) agricultural scheme in the Niger Delta region. Minister of Agriculture and Rural Development, Sabo Nanono, disclosed this at the Livelihood Improvement Family...

February 24, 2020 No Responses

SEC Nigeria Holds International Commodities Conference

In a bid to further deepen the capital market and have a vibrant commodities exchange, the securities and Exchange Commission, SEC, is to host an international conference on the Nigeria Commodities MarketThe conference with the theme, “Commodities Trading Ec...

February 21, 2020 No Responses

Zenith Bank Declares N200b Profit After Tax

For the year ended December 31st, 2019, Zenith Bank Plc on Friday announced profit after tax (PAT) of N208.8 billion, “achieving the feat as the first Nigerian Bank to cross the N200 billion mark”.According to the bank’s audited financial results...

February 19, 2020 No Responses

NSE Market Capitalisation Drops Further By N9b

The market capitalisation of the Nigerian Stock Exchange (NSE) on Wednesday depreciated further by N9 billion, amid profit taking.Specifically, the market capitalisation, which opened at N14.347 trillion lost N9 billion to close at N14.338 trillion.Also, the A...

February 18, 2020 No Responses

Market Capitalisation Drops Further By N12b

The bears continued to dominate the domestic equities market on Tuesday, as the Nigerian Stock Exchange (NSE)’s All-Share Index dropped further by 0.08 per cent.The News Agency of Nigeria (NAN) reports that the index lost 23.38 points or 0.08 per...