Ogun to house second largest refinery in sub-Saharan Africa

The Government of Ogun state has signed agreement with a consortium of four private firms to build a refinery, proposed to be the second largest in sub-Saharan Africa.The agreement also included the building of the largest petroleum product depot in ...

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Elumelu and Secretary Pritzker’s toast to Africa

Africa’s leading Pan-African bank, recently hosted a cocktail reception for US and African business leaders at the Essex House in New York City. The event was held alongside the UNGA and right after the US – Africa Business Forum(USABF) which ...

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Borrow, spend less and earn more; Obasanjo’s cure for recession

A Former President of Nigeria, Chief Olusegun Obasanjo on Tuesday advised Nigeria to borrow, spend less and earn more in order to get out of the current economic recession.Obasanjo spoke in Abeokuta at the opening ceremony of the National Council ...

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Shell shuts Trans Niger Pipeline

The Trans Niger Pipeline in Gio, Tai Local Government Area of Rivers state has been shut by  Shell Petroleum Development Company (SPDC) of Nigeria Limited. In a statement issued in Port Harcourt on Tuesday, Mr Joe Obari, SPDC spokesman, said a ...

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ECOWAS advises Nigeria against panic measures to end recession

Members of the ECOWAS Parliament have advised Nigeria to avoid using “panic measures” to address the country’s current economic situation.The call was made at the presentation of Nigeria’s Report at the ongoing second Ordinary Session of the ECOWAS Parliament in ...

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AfDB President visits Buhari, announces support for Nigerian economy

The President of the African Development Bank (AfDB), Dr Akinwunmi Adesina, on Monday in Abuja announced billions of dollars packages to address Nigeria’s economic crisis.In a statement in Abuja,  Mr Femi Adesina, the Special Adviser on Media and Publicity to ...

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GTBank Launches Virtual Arts Gallery

Leading African financial institution, Guaranty Trust Bank plc, has announced the launch of ART635 (, a Virtual Arts Gallery created to reignite interest in African art and drive the growth and development of the local art industry. Art635is a foremost ...

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NCC receives 6,163 complaints from telecoms subscribers in Q2

The Nigerian Communications Commission (NCC) says it received 6,163 complaints from telecommunications subscribers in the second quarter of 2016.Mr Abdullahi Maikano, the Director, Consumer Affairs Bureau (CAB) of the commission made the disclosure to the News Agency of Nigeria (NAN) ...

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Naira strengthens against dollar at interbank market

The Naira on Friday appreciated against the dollar at the interbank market, after sustaining losses for two days, the News Agency of Nigeria (NAN) reports.The Nigerian currency gained N5.28 to close at N307.79 from N313.07 posted on Thursday. Trading at ...

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How and why Nigeria got into economic trouble

In a statement issued by Femi Adesina, Special Adviser to President Muhammadu Buhari on Media and Publicity, the president on Friday assured Nigerian professionals abroad that the economic recession in the country would soon be history as his administration would ...

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