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GOOD NEWS: Oil price rises

Oil prices rose on Monday, lifted by a drop in U.S. drilling activity as well as by expectations that the United States could re-introduce sanctions against Iran. U.S. WTI crude futures were at $65.18 a barrel at 0025 GMT, up...

External reserve hits $46b, says CBN

Nigeria’s External Reserves now stands at $46 billion as at the close of business on Friday. Figures released by the Central Bank of Nigeria (CBN) at the weekend indicate that the reserves grew by about $3.2 billion between February and...

Exchange rate detrimental to poultry business – Expert

Current report as managing director of Elephant Group, Mr. Tunji Oweye, said Nigeria’s large poultry market of 17.5 million people is facing some challenges due to dwindling naira value. He said the major concern to industry operators is not only...

Nigeria to rake in N1 trillion from bunkering annually

Nigeria could generate a whopping N1 trillion ($3 billion) annually through its maritime industry from robust bunkering business if the Petroleum Industry Governance Bill (PIGB) is passed into law. According to the Nigerian maritime industry forecast for 2018/2019 unveiled in...

Getting business loans from banks (Concluding) Diamond Bank

We are finally at the concluding part of the discussion on Diamond Bank loan packages for small business. Our last discussion on this column addressed Diamond Bank’s Emerging Businesses Vehicle and Asset Financing loan, which is meant for its...

UBA, China Development Bank, sign $100 million deal to support African SMEs

The United Bank for Africa (UBA) Plc, a pan-African banking group and China Development Bank (CDB), the world’s largest development finance institution, on February 27 announced the signing of a $100 million seven-year loan agreement to finance the development...

Dangote named in Forbes world’s top ten black billionaires [See full list]

Africa’s richest man, Aliko Dangote has been named by Forbe as one of the top ten black billionaires in the world. Dangote, who was not the only Nigerian to make the list, was placed in 1st position. See Forbes world’s top...

Ondo inaugurate N42b Egg Powder Plant

A N42 billion Egg Powder Plant has been inaugurated in Ondo state under a Public Private Partnership (PPP) arrangement between the State government and Greenfield Assets Limited. The plant which is to be situated at Emure-Ile, near Owo will...

Dangote Group’s revenue exceeds $4.1bn in 2017; to invest $4.6bn in sugar, rice, others...

President and Chief Executive, Dangote Group, Mr. Aliko Dangote, has said his companies annual revenue for 2017 exceeded $4.1 billion. He also disclosed that the group planned to invest $4.6 billion over the next three years in sugar, rice and...

MTN targets $1 billion from Nigeria, Ghana listing

MTN could raise a total of US$1bn when it lists on both the Nigeria and Ghana stock exchanges later this year. According to Kofi Yamoah, CEO, Ghana Stock Exchange (GSE) MTN Ghana will officially introduce 35% of its capital into...

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