BUSINESS

Nigeria’s non-performing loans have climbed to 15% since 2015; FG should push policies – IMF

IMF

The International Monetary Fund (IMF) staff team, which visited Nigeria from July 20 to July 31, says non-performing loans across Nigerian banks have 6 percent in 2015, to 15 percent in 2017. The team led by Amine Mati, senior resident representative ...

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Nigeria gives tax holidays to 27 new industries

The Federal Executive Council on Wednesday approved 27 new industries and products to enter into the pioneer status to give tax holidays to them for three years, to enable them grow and expand investments. The list was last reviewed in ...

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Total to 200,000 bpd to Nigeria’s oil output

Mr Nicolas Terraz, Managing Director/Chief Executive Officer Total upstream companies in Nigeria, on Wednesday said that the firm would boost the country’s daily oil production by 200,000 barrels from 2018. Terraz, who was represented by Mr Biodun Afolabi, Executive Director, ...

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Osinbajo orders 24 hours power supply for Ariaria Market Aba

Ariaria Market Aba

Nigeria’s Acting President Yemi Osinbajo has directed the Federal Ministry of Power, Works and Housing to intervene and ensure that the Ariaria International Market in Aba, Abia States, enjoys 24 hours supply of electric power. The city of Aba is ...

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FG wants Dangote refinery completed before 2019

Ibe Kachikwu, minister of state for petroleum resources, has urged Aliko Dangote, president of Dangote group, to make sure he completes his refinery before December 2019. He made the call when he visited the Dangote oil refinery site at Lekki ...

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Oil hits $53 on tighter U.S market

Oil prices hit a two-month high on Monday as a result of the tightening of US crude market and the threat of sanctions against OPEC-member, Venezuela. Brent crude futures traded at $52.90 per barrel, its highest since May 25, while ...

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GTBank Celebrates 10th Anniversary of Listing on the London Stock Exchange

Foremost African financial institution, Guaranty Trust Bank plc, marks its listing on the London Stock Exchange whereby the Bank became the first Nigerian bank to list on the London Stock Exchange (LSE), the first to dual list on an international ...

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Osinbajo inaugurates $1.5 billion fertilizer plant in Nigeria

Acting President, Prof. Yemi Osinbajo today in Port Harcourt inaugurated a giant world-class fertilizer plant, built by Indorama Eleme Fertilizer and Chemicals Limited at the cost of $1.5 billion. The acting President used the opportunity to remind all Nigerians that time ...

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Half-Year Results: Transcorp records 134% growth in profit

Adim Jibunoh, President -CEO of Transcorp Plc - Official

Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s foremost conglomerate, has announced financial results for its second quarter ended June 30, 2017, showing significant growth in key financial indicators. The company recorded N4.2bn as profit after tax (PAT) for the half-year ended ...

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Africa Prudential awarded Best Registrar in West Africa; Unveils new Corporate Identity

Africa Prudential

Africa Prudential Registrars Plc has been named the Best Registrar Firm in West Africa by Africa-Canada Trade Alliance at the 7th Edition of the West Africa Innovation and Excellence Awards ceremony which held at Abuja recently. According to a letter ...

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