BUSINESS

Oil prices soar as OPEC and Russia agree on production cut

An agreement between oil producer club OPEC and Russia to produce less to drain a global glut sent prices soaring in record trading volumes on Thursday. The Organization of the Petroleum Exporting Countries (OPEC) agreed on Wednesday its first oil ...

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50kg bag of rice now N8000 in Ebonyi, Nigeria to start export by 2017

A 50kg bag of rice is now selling for N8,000 in Ebonyi state, Eastern Nigeria, a reality that is in sharp contrast with the over N20,000 price tag for imported rice. The cheering news was reported by spokesman of Central ...

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TUC tells Nigerian government not to increase data

The Trade Union Congress of Nigeria, TUC, on Tuesday urged the Federal Government not to increase the cost of data to avoid further pressure on mobile telephone users. Bobooi Kaigama, the president of the congress, made the call in a ...

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Samsung to split over Note 7 fiasco

Samsung Electronics has confirmed it is considering dividing the company into two separate firms. The company has been under pressure from some investors to break itself into a holding unit and an operating company to boost shareholder value. The South ...

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Nigerians to show evidence of tax payment and pay VAT to obtain passport

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Tunde Fowler on Monday said Nigerians will soon pay Value Added Tax (VAT) and show evidence of being tax payers before obtaining their passports. He said this at the 136th ...

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Kaduna refinery set for upgrade, expansion – NNPC

The Group Managing Director of NNPC, Dr Maikanti Baru, has reiterated the commitment of the corporation to upgrade and expand Kaduna Refining and Petrochemical Company Limited (KRPC). Baru made the pledge during a town hall meeting with management and staff ...

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14 ships discharging petrol, food, others – NPA

Fourteen ships are currently discharging petroleum products and other commodities at Apapa and Tin-Can Island ports in Lagos, the Nigerian Ports Authority (NPA) said on Friday. The document indicated that five of the ships were currently discharging petrol. NPA explained that ...

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ALLOCATION: FG, States, LGs share N420bn for October

The Minister of Finance, Mrs Kemi Adeosun, on Wednesday in Abuja said N420 billion was shared in October among the Federal, States and Local Governments. Adeosun told newsmen that same amount was shared in September. She said that N6.3 billion ...

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Guinness opens N4.8bn Spirit production line in Benin

As part of efforts to fulfil his campaign promise of creating 200,000 jobs in four years, Governor Godwin Obaseki of Edo State, has promised that his administration would partner Guinness PLC in achieving that feat. Obaseki made the promise on ...

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Naira records slight appreciation against dollar

The Naira on Monday in Lagos appreciated marginally against the dollar at the parallel market, gaining N2, the News Agency of Nigeria reports. The currency exchanged at N468 to the dollar as against N470 it traded on Friday. The Pound ...

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