Home Business News

0 481


  It seems the fuel scarcity being witnessed by Nigerians may linger following the non- payment of oil marketers by the Federal Government.

The oil marketers under the aegis of Depot and Petroleum Products Marketers Association (DAPPMA) are demanding for the payment of huge sums of monies owed by the federal government in order for its members to remain in business.

0 398

Stories by Festus Akpobor

IN what some analyst as a bold move designed to test the confidence of shareholders on the bank’s performance, the board of directors of Access Bank Plc announced last week the commencement of a  Rights Issue offer expected to generate a gross of N52.6 billion. In this report Festus Akpobor takes a look at the issues surrounding the offer and why it is strategic for it to be successful.

0 263

Russia’s central bank unexpectedly cut its main interest rate on Friday as fears of recession mount in the country following the fall in global oil prices and Western sanctions over the Ukraine crisis.
The bank reduced its one-week minimum auction repo rate by two points to 15 percent, a little over a month after pushing it up by 6.5 points to 17 percent after a run on the rouble.

0 287

PRESIDENT of La Campagne Tropicana Beach Resort, Lagos, Mr. Wanle Akinboboye,  has urged local government councils in the country to utilize tourism potentials in their areas for national development.
Akinboboye told the News Agency of Nigeria (NAN) in Lagos during the week that there was no local government in the country that did not have tourism resources.

0 280

A university lecturer, Dr Salamatu Isah,  has  called for the diversification of the nation’s economy to cushion the effects of the drop of oil price on the nation’s economy.
Salamatu, who is the Head of Economics Department, Ahmadu Bello University, Zaria, Kaduna State, said this during an interview with the News Agency of Nigeria (NAN) in Abuja.

0 259

The Federal Government has approved a 59-million-dollar (N9 billion) contract for the construction of Berth 21 at the Terminal ‘E’ of the Lagos Port Complex in Apapa.
Also approved was a contract for the construction of the Inland River Port at Makurdi at the cost of N3 billion.
These were some of the outcomes of the weekly Federal Executive Council (FEC) meeting presided over by President Goodluck Jonathan at the Council Chamber of the Presidential Villa in Abuja.

0 259


President Goodluck Jonathan has assured Nigerians and foreign investors that the Nigerian economy will remain stable despite the drop in global oil prices.
President Jonathan gave the assurance Thursday in Abuja when a delegation of multinational industrial giant, General Electric (GE), led by its Vice Chairman and CEO, Mr. John Rice, paid him a courtesy visit at the Presidential Villa.
The President said the Federal Government would do everything possible to maintain domestic economic stability, and urged the company to maintain its confidence in the country.