BUSINESS

Ex-Arik directors file N20bn suit against FG and Ethiopian Airlines over takeover reports

Former directors of Arik Air, through their lawyers have filed a N20 billion suit against the federal government and Ethiopian Airlines over recent claims of negotiating the takeover of the airline. The suit was instituted at the federal high court, ...

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NNPC does not see a penny from crude sales – Baru

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, has said the oil firm does not “see a penny” from the sale of crude oil. Baru asserted the above in response to reports, especially from the ...

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Exit from recession: PDP says there’s nothing to celebrate until harsh living conditions improve

The Peoples Democratic Party (PDP) has reacted to the news that Nigeria has exited recession, saying there is nothing to celebrate until the “harsh living conditions” have improved. On Tuesday, the National Bureau of Statistics (NBS) announced that the country’s ...

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We still have work to do, recession ends when all Nigerians can eat three square meals – Atiku

Former Vice-President of Nigeria, Atiku Abubakar says recession cannot be said to have ended until all Nigerians can eat three square meals. He made the claim above in reaction to the news that Nigeria had exited recession. Recall that the ...

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FG reacts to Nigerian economy being out of recession

The Presidency on Tuesday has reacted to the news of Nigeria’s exit from recession. In a statement distributed by Laolu Akande, spokesperson to Vice President Yemi Osinbajo, the Buhari administration welcomes news of Nigeria’s exit from recession with “cautious optimism ...

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Nigeria officially exits worst recession in 29 years

inflation

The National Bureau of Statistics (NBS), on Tuesday declared that Africa’s largest economy has officially exited recession. The Bureau who declared Nigeria’s worst recession in 29 years, said the west African country grew by 0.55 percent in GDP terms for ...

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FG annuls concession of Lagos Int’l Trade Fair Complex, approves privatisation of Afam Power Plant

Lagos Trade Fair Complex

Following a National Council on Privatisation (NCP) meeting chaired by Vice President Yemi Osinbajo, the Federal Government (FG) has annulled the concession of the Lagos International Trade Fair Complex to Aulic Nigeria Limited. The decision to annul the Trade Fair ...

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Nigeria has lost over N100bn to two illegal mining companies in Plateau

Mining Companies shut

The federal government of Nigeria says the two illegal mining companies – Solid Unit Limited and Geotess Nigeria Limited – that were shut down in Zurak, Wase local government area of Plateau state, last month, had illegally taken out minerals ...

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Petrol price will crash in 4 to 6 months – Kachikwu

Dr. Ibe Kachikwu, the Minister of State for Petroleum Resources has predicted that prices of Premium Motor Spirit (PMS), Popularly called petrol, will crash in the next four to six months as a result of the competition inherent in the ...

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5,000 tomato farmers not able to meet Dangote’s factory demand

Tomato

Farm produce from 5,000 farmers is not enough to supply the $20 million tomato processing plant owned by Aliko Dangote, Africa’s richest man. Report by Reuters, say that the tomato plant,  which has been shut for more than 18 months, ...

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