Business

  A Federal High Court sitting in Lagos, on Tuesday admitted two Chinese and a Nigerian to bail in the sum of N10 million with two sureties each in like sum. They were arraigned for importing sub-standard automobile tyres worth about N5 billion. The accused are Taolung Shen, Xu Jing…

Presidential spokesman Garba Shehu says efforts to get the nation out of its present economic challenges are beginning to yield positive results, especially in agriculture. The presidential aide who made the statement in Abuja on Sunday, said increase in the volume of rice production and processing across the country is…

The Nigerian National Petroleum Corporation (NNPC) said on Sunday, the Central Bank of Nigeria (CBN) released foreign exchange (Forex) to marketers to import diesel and aviation fuel. The Corporation in a statement yesterday said it will also continue to import diesel and aviation fuel to supplement local refining. NNPC said…

Marketers consistently overestimate how much of their budget they will spend on social media as they struggle to integrate it with the rest of their strategy or prove ROI. Social media is failing to meet projections as marketers consistently overestimate how much budget they will dedicate to sites such as…

  The Federal Government is to take new biometric database of 16 million farmers to enable them benefit from intervention packages during the 2017 cropping season. The Managing Director, Bank of Agriculture, Prof. Danbala Danju, said this on Sunday while signing a Memorandum of Understanding (MoU) for Public Private Partnership…

A Federal high Court in Abuja has set aside its ruling which ordered a temporary forfeiture of the OPL 245, oil bloc to the Nigerian Government. The ruling follows a request by oil giants Shell Nigeria Limited and Eni. The multinational oil firms had in two separate motions asked the…

The National Union of Air Transport Employees (NUATE) has threatened to disrupt Aero Contractors’ operations by Monday, if the airline refuses to recall the workers sacked recently. Aero is yet to give the exact figure of workers affected by the downsizing but various reports indicate between 400 and 900. Olayinka…

  Lagos is planning a housing scheme that is aimed at reducing the huge housing deficit in the state. The scheme according to the promoters is a $300 million Smart City which is expected to berth in Lagos soon. The Smart City promoted by the Eleushi Royal Family and a…

Nigerian National Petroleum Corporation (NNPC) Group Managing Director (GMD) Dr. Maikanti Baru on Monday said the Bonny NLNG is one of the biggest success stories of the oil and gas industry since it came on stream in 1995. He said the project has generated $90 billion revenue, $30 billion dividends…

There are reports that Central Bank of Nigeria (CBN) has flooded the country’s banks with dollars. The effort is aimed at shoring up the value of Naira, News Agency of Naira (NAN) has reported. NAN says the banks are reported to be holding excess forex and were seeking customers to…