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Oil prices slide as U.S.-China trade war escalates

Oil prices fell sharply on Friday after China unveiled retaliatory tariffs against about $75 billion worth of U.S. goods, marking the latest escalation of a protracted trade dispute between the world’s two largest economies.

Nigeria denies closing border with Benin Republic

The Nigeria Customs Service (NCS) has denied closure of the Seme-Krake border with the Republic of Benin.

Court orders Nigeria to renew operating license of Shell petroleum

The Federal High Court, Abuja, on Friday, ordered the Federal Government to renew the operating licence of the Shell Petroleum Development Company (SPDC).

Negotiations to continue on minimum wage

The Joint National Public Service Negotiating Council (JNPSNC), and representatives of the Nigerian government will reconvene on Sept. 4, 2019 to continue negotiations on the new national minimum wage.

Groundbreaking of Transport University soon

The Minister of Transportation, Rotimi Amaechi, has said the groundbreaking of the Transport University, Daura, Nigeria would take place in September.

No electricity tariff increase yet

The Nigerian Electricity Regulatory Commission (NERC), says no tariff increase has been approved by the commission yet.

Nigeria injects $297.92 into secondary market

The Central Bank of Nigeria (CBN), has injected 297.92 million dollars into the retail Secondary Market Intervention Sales (SMIS).

Minister explains slow pace of work on Lagos-Ibadan rail

Nigeria’s Minister of Transportation, Mr Rotimi Amaech, has reported that new approvals was responsible for the slow pace...

Asian refining margins tumble

Asian refining margins have tumbled more than 50% since mid-July on anticipation of plummeting demand for high sulfur fuel oil (HSFO)....

Electricity tariff increase done – NERC

The Nigerian Electricity Regulatory Commission (NERC) said the planned increase in tariff was done through consultation with Electricity Distribution Companies...

Nigeria to recover N614bn outstanding debt from states

The Minister of Finance, Budget and National Planning, Hajiya Zainab Ahmed says the Federal Government has resolved to recover N614 billion loan...

Nigeria’s economic showing significant growth

The National Economic Council (NEC) says Nigeria’s macro-economic environment has shown significant growth stability since it came out...

CIN warns banks against transactions with Korea, Iran

The Compliance Institute, Nigeria (CIN) has advised banks in the country against doing business with countries like North Korea and Iran that....

Ship owners move to create jobs, boost economy

President of Shipowners Association of Nigeria (SOAN), Dr Mkgeorge Onyung, says the Shipping Expo exhibition will create more....

NIPC, SMEDAN link MSMEs with larger coys

The Nigerian Investment Promotion Commission (NIPC), has said that its Micro, Small and Medium Enterprises (MSMEs) “Market Linkage” initiative was designed to..

German firms call for dialogue to end stand-off in Hong Kong

The head of a group of leading German companies doing business in Asia has called for peaceful dialogue

Traders decry multiple taxation

raders in Ogbette Main Market, Enugu in South East Nigeria, have expressed disaffection with the...

Minister pledges commitment to power sector

he Minister of Power, Mr Sale Mamman has expressed his commitment toward addressing the challenges in the power sector in Nigeria...

Coworking firm raises $80 million

Industrious, one of the largest U.S. coworking rivals of “We Company’s WeWork”, said on Thursday it raised $80 million...

Kloeckner’s shares soars

Shares in Kloeckner & Co (KCOGn.DE) soared in early trade on Friday after a newspaper said Thyssenkrupp (TKAG.DE) was in talks to buy the metals...

DHL stops delivery of food for Amazon in Germany

Deutsche Post DHL (DPWGn.DE) will no longer deliver fresh food in Germany for Amazon (AMZN.O) as the market for food e-commerce...

Bank moves to assist Nigerians abroad to own homes

The Federal Mortgage Bank of Nigeria (FMBN) is developing a Diaspora mortgage housing scheme to assist Nigerians living abroad to own homes in Nigeria...

Nigeria moves to attract foreign investment

The Minister of Industry, Trade and Investment, Mr Adeniyi Adebayo says the ministry will attract Foreign Direct Investments (FDIs) into Nigeria by...

Zimbabwe breaks record in tobacco production

Zimbabwe’s 2019 tobacco output has surpassed 2018 record-breaking output of 252 million kilograms, according to statistics from the Tobacco Industry and Marketing Board (TIMB).

Market operators urge ministers to hit ground running

Some capital market operators on Thursday said there was the need for the new ministers to commence work without delay to revive the nation’s economy to avoid another round of recession.

Nigeria issues N59b bonds

Nigeria’s Debt Management Office (DMO) has issued N59.53 billion Federal Government bonds for the three tenors it offered to various investors who subscribed at the auction.

Mozambique keys into Afreximbank

The Mozambican government has authorized Minister of Economy and Finance, Adriano Maleiane, to sign the country’s accession to the African Import and Export Bank (Afreximbank).

Board provides fund for modular refineries

The Nigerian Content Development and Monitoring Board (NCDMB) is providing equity investment for the establishment of two modular refineries in Imo and Bayelsa states.

Governors support Agro-processing zones

The Nigeria Governors’ Forum (NGF) has said that the establishment of Special Agro-processing Zones (SAPZs) in Nigeria has the potential of attracting between one to four billion dollars investments into the country.

Nigeria resolves to revive ailing refineries

Nigeria has commenced the overhauling of its four refineries, beginning with the Port Harcourt Refinery to achieve its 2023 target of ensuring that local refineries operate optimally.

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Germany moves to protect state firms

Germany plans to pass legislation by the end of 2019 to create a state-owned fund that can protect key companies from takeovers...
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CBN, worship centres offer financial literacy

Central Bank of Nigeria (CBN) has said it is in partnership with churches and mosques in the promotion of financial literacy in the country.
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How Incentives and SEZs are Creating Jobs and Uplifting Poor Areas,...

South African's Trade and Industry Minister, Rob Davies highlighted the job-creating potential of his department’s incentive programme, and the importance of special economic zones, when...
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