Businessday Nigeria Archive for August 2016

Tuesday, August 30, 2016

Aircraft harmonisation to reduce effect of rising operational cost

Lagos moves to restore Lekki, Ikoyi, V/Island master plans

N2bn fraud : Orubebe’s re arraignment adjourned over ill health

Nigeria, Arla Foods partner on dairy sector development

Banks’ credit to private sector grows 13.5% Q-on-Q

Again, stakeholders blame inconsistent policies for low business at port

EFCC arrests Ebonyi State Governor’s brother over N400mn Jonathan Campaign Fund

Mark Zuckerberg visits Lagos, Nigeria

Business Day organises first ‘CEOAPPRENTICE AFRICA’ bootcamp

Iraq to support oil output freeze at OPEC meeting

Crude oil prices near flat on OPEC uncertainty

MTN Said to Name Scarcella South Africa COO Ahead of CEO Arrival

CBN trades Dollar to strengthen Naira

NSE All-Share Index gains 0.46%

Sheriff rejects PDP BoT peace moves, insists Makarfi, Jubrin must resign

Central bank sells dollar to support naira

Nigeria manufacturers say Dollars still scarce after devaluation

Tim Cook replies EU on $14.5 bn Irish tax decision

Global Climate Pact may cover most plane emissions, U.S. says

GSK Nigeria extends divestment deal closure date

Facebook Launches Express WiFi with Lagos based Coollink

In spite of ‘Operation Crocodile Smile,’ Militants blow up another oil facility

Hollande Says Turkish Intervention in Syria ‘Carries Risks’

Biggest African economies stall on politics, commodity slump

FG kicks off $100m agro industrial estate in Edo

Monday, August 29, 2016

NBS to reveal we are in recession with -2% GDP growth in Q2

Democracy in whose interest?(1)

Chinese company wins $1.85bn Kano railway contract   

Way out of recession: Keep the focus on agriculture and manufacturing

No need for Buhari emergency powers

Hedging loans as option to de-risk lending to indigenous oil operators

Nigeria’s huge displacement, humanitarian crisis requires urgent life-saving measures

Governor Ugwuanyi makes primary health priority

Ashoka trains youth entrepreneurs on storytelling

Jibrin accuses Dogara of money laundering since 2007

Ondo APC primaries: Presidency says Buhari has no preferred candidate

PDP BoT asks Makarfi-led committee to hold next convention in Abuja

NSE All-Share Index drops 0.30%

NAFDAC urges rice producers in Jigawa to register

S/Africa finance minister Gordhan to be charged for graft

Japan pledges $9.78mn to assist Kenya fund development, power

FG’s e-procurement reforms target savings of N48.4bn from 2016 budget

Borno launches household feeding for IDPs

nuTonomy looks to beat Uber to offer first robo-taxi service

Taxi firm Uber suspends services in Abu Dhabi

China launches own aircraft engine-maker

UBA releases HY 2016 audited results, proposes N0.20 dividend per share

Air conditioning demand set to grow rapidly over the coming decades

Opposition candidate Jean Ping said on Sunday that results showed him winning Gabon’s presidential election, ahead of incumbent President Ali Bongo, whose family has ruled the tiny, oil-producing nation for half a century. “As I speak to you, the trends i

1.2 million unemployed Nigerians so far enrol for N-Power scheme – Ngige

Sunday, August 28, 2016

Threat to digital ad as new ad-block technology poses constraint on viewership

FX reform brings in $270m, first major foreign investment

A conversation on restructuring

Manufacturers see local auto assembly contributing $5bn yearly to economy           

Gowon, other past leaders should enrich Nigeria’s historical narrative

Greater role to Africa and developing world in the China-led G20     

Back to school money tips

Lafarge Africa stakes $2m in sustainable construction competition

Banks sanction on FX trading to trigger further pressure on naira

‘T-Mart offers a splendid wholesale alternative’

‘Free press leads to effective economic policies’

Buhari succumbs to pressure, agrees to swap detained Boko Haram members for Chibok girls

Customs detain South African vessel for sailing into Nigeria illegally

Infinix partners Jumia, MTN as NOTE 3 is unveiled in Nigeria

We do not believe the militants have announced ceasefire- Buhari

Nigeria to move up 20 places in Ease of Doing Business within 3 years 

Niger Republic shippings companies to return to Nigerian ports

PDP national chairmanship not zoned to South-West – Dokpesi

Military launches offensive against militants in Delta oil hub

Buhari says Boko Haram leader ‘wounded’

Boko Haram to pick NGO intermediary in talks to free Chibok girls

Venezuela, Iran seeking consensus to stabilize oil markets

No “Arab Spring” in Zimbabwe, Mugabe warns protesters

IDPs take to businesses, no longer eager to go home

FG ready to discuss Chibok girls release with Boko Haram

We will protect foreign investments in Nigeria – Buhari

We will vote more resources for agriculture in 2017 – Buhari

The travail of the naira

Analysing the 2016/17 UCL group stage draw

US to invest $2.5bn in rail expansion

Siasia quits Nigeria football job

Revealed: ‘Amaechi still owes banks’ for Buhari’s 2015 victory

Saturday, August 27, 2016

AfDB, Japan commit $3bn to boost development, reduce poverty in Africa

Africa is biggest frontier of 21st century – Japan PM

Reforming CAMA Act to address ease of doing business constraints

Nigeria’s Rio 2016 Olympics misadventure

Senate to investigate food diversions in IDP camps – Saraki

War against oil economy: IYC president sues for peace

Okowa partners South Africa on economic diversification

Mixed reactions trail five new airport terminals

Budget padding scam: How Dogara, 9 others get N10bn running cost ‘allowance – Jibrin

Udom seeks refund of N140 bn spent on federal roads

Moses scores as Chelsea whip Burnley 3-0

Nigeria receives $800million health grant from Japan 

CBN directs banks to uncover illicit FX transfers for appropriate action

Japan dangles $30 bn at Africa leaders in Nairobi

Experts point Nigeria in opposite direction, as Kenya caps lending rates

Name, prosecute persons behind ‘ghost workers,’ labour tells FG, states

Friday, August 26, 2016

Blame shifts to Gencos, Discos over power sector debts

Janet Yellen says rate-hike case ‘strengthened in recent months’

Buhari approves board of NPA, NIMASA

0.26% gain at the NSE All-Share Index

Buhari approves board  of NPA, NIMASA

US rate rise strengthening – Yellen

UK’s ICO investigates WhatsApp, Facebook data sharing plan

Prada targets younger customers in bid for growth

Italy declares state of emergency in region hit by earthquake

Testing the waters with emergency power initiative

Nigeria’s distributable revenues fell to N444bn in July

Brazil police charge Ryan Lochte over false claims

FG warns diplomats against communication protocol violations                                                                                

FG to sell 213 bn naira treasury bills

Naira hits new low of 412 to dollar in parallel market

Violence erupts in Zimbabwe’s capital after anti-Mugabe rally

Merger of budget and planning ministry will strengthen economic coordination

Moody’s: Cote d’Ivoire benefiting from strong growth prospects amid ongoing reforms

Traditional rulers want prisoners freed before Delta talks

FG, States, LG share N443.663bn July allocation

Henry named assistant manager of Belgium national team

Digital switch over on course – Lai Mohammed

Kaduna State targets N3.5bn monthly IGR, says commissioner

Italy earthquake death toll hits 267 as hope for survivors dwindles

Somalia attack: Gunman storm beach restaurant in Mogadishu

OPEC’s Barkindo: Oil producers show realisation action needed on output

The secret to finding time for your personal development despite a busy schedule.

Thursday, August 25, 2016

Economic outlook points to potential rise in electricity tariff

 How secure are you?

Beloxxi investment validates new FX policy

Internet or splinternet?  

PZ Cussons remains profitable amid adverse economic conditions

Naira in new lows  of N409/USD at parallel market

Is Arsenal still better off with Wenger?

UCL: Guardiola’s Man City to play Celtic and Barcelona

FG, Oil companies spent $40bn on Niger-Delta in 10 years without result- Kachikwu

Kano, Port Harcourt, Kaduna in early lead in MTN Katsina International Polo Tourney

I am not averse to advice, says Buhari

Political interference, weak institution impede Baru’s 12-point NNPC agenda

Developers jittery as recession erodes buying power in property market

FCTA sets up polio eradication Task Force Team

Sheriff asks FG to probe Boko Haram sponsorship

FG seeks $125m loan from World Bank to fight polio

Nigeria is facing unprecedented economic crisis – El-Rufai

Ending a half-century of war

The revenant: Sarkozy’s second shot at presidency

Local architects, artisans will resolve Nigeria’s housing deficit – Fashola

FG tasks NAPE on national hydrocarbon reserves

Nigeria’s naira hits record low of N409 to dollar on black market

NSE All-Share Index drops by 1.80%

Italy earthquake: Death toll passes 240 as rescue efforts continue

NNPC GMD calls for private sector investments in frontier exploration

Sub-Saharan Africa fails to tackle extreme child poverty

Wedding dreams dashed as Nigerian economic ills bite

Bendel Flour Mill – AMCON entangled in court case over unpaid salaries

FG has saved N1.4 trn from removal of fuel subsidy – Osibanjo

Amobi appointed new MD of NBET

FG says fake contract documents to attract penalty

Middle East country buys chunk of Empire State Building

East Africa: DR Congo Shows Interest As Uganda-Tanga Port Oil Pipeline Preps in Top Gear

Singapore strengthens economic ties with Nigeria, Mozambique, Ethiopia

Africa: Dar, Lusaka Review Legal Hitches to Revitalise Tazara

Osinbajo praises Nigerians youth resilience as UN envoy visits

AGF expresses hope in face of economic recession

Perishable cargo exporters lost N100m over closure of export warehouses

Demand driven curriculum to boost industry certification, enhance competitiveness

159.7m Nigerians suffer poor internet access … consumers bear high costs of access, still suffer poor services

N12bn required to complete Lagos airport road rehabilitation project – ICRC

Retail property owners not shifting ground on rents, despite rising vacancy … insist on dollar-denominated payment

New Lagos Rent-to-Own housing scheme raises fresh hope for low-income earners … only 5% equity contribution required from applicants

Wednesday, August 24, 2016

Nigerian rice gains traction on better processing, lower naira  

Where will the tax come from?

Over $2.40bn worth of OTC FX Futures contracts offered by CBN    

Lessons from the Olympics

Poor business practices  cost airlines N275m on flight cancellations annually

Domestic Airlines at edge on BASA deals 

CBN tasks stakeholders on credit history

NIS 2000: Boycott screening, forget Immigration job

FG seeks WHO support for pharmaceutical manufacturers

Liberian vice president visits Obasanjo, says unabated capital flight by African leaders impede economic development

Energy cost, Policy inconsistency and Credit top problems facing manufacturers-NOIPolls

Ezekiel Oseni appointed as acting MD, NERFUND

Vandalism: NNPC, NSCDC pledge grater cooperation

Africa’s first Coltan separation plant to be built in Rwanda

FEC approves 2017-2019 MTEF, targets 3% economic grow in 2017

TCN weakest link in Nigeria’s power sector- ANED

Nigeria’s first on-grid solar plant commissioned in Abuja

Nigerian bank execs meet Central Bank over FX market suspension

NSE All-Share Index gains 0.25%

Reviewing common spending habits

Gas explosion kills 1 in Damaturu

LIRS seals Protea Hotel over failure to remit N11m tax proceeds

Joe Biden’s visit to Turkey and solving pressing issues

Investors dump shares of Nigerian banks after FX trade suspension

Zimbabwe abolishes 8,000 jobs in agriculture ministry to cut wages

Zimbabwe scraps 8,000 jobs in agriculture ministry to cut wages

Samsung Galaxy Note7 outsells supply

South Africa rand falls on finance minister arrest rumour

Boko Haram Kills 10, abduct 13 in Borno

First Bank appoints new CFO

Singaporean firm to invest $100 mn in A/Ibom agric projects

CBN suspends nine banks from FX market

As Kerry visits Nigeria, air force says top Boko Haram fighters killed

Tuesday, August 23, 2016

Earthquake hits italy

Multiple port inspection impedes non-oil export   

Nigerian economy since 1999: Myths, lies and data

CBN suspends nine banks from FX transactions for withholding $2.3bn govt’ funds  

The nature of safety nets that work

Nigeria’s diversification hinges on agro credit, high capacity machinery

Are portfolio flows bad?

Deepening domestic natural gas as solution to gas flaring

Gowon meets Buhari, expresses hope on resolution of Niger Delta issues 

Labour protests in Lagos over cut in salaries, Nasarawa killing

FG plans N505.6bn spending on 116 water projects

Vegefresh chairman says green alternative to spur bank lending to agric sector

Nigeria’s first on-grid solar plant commissioned in Abuja    

NSE All-Share Index gains 0.01%

South African police contact finance minister Gordhan – Treasury

Libya deports 220 Nigerians

Restructuring: Atiku, others got it wrong – Ndume

45,000 youths apply for Abia skill acquisition programme

Nigeria deploys technology in anti-graft war, SGF says

Reps tackle FG over delayed take-off of N500bn social intervention fund

Kerry arrives Aso Rock

FNB enters smartphone market

S/Africa opposition party beats ANC in vote to run economic capital

Libya to deport 220 Nigerians today

LASG re-assures residents of efforts to reduce flooding in Lagos

Kerry says corruption costs the world $2.6trn annually

As Kerry lands in Nigeria, air force says top Boko Haram fighters killed

Nigeria asks banks to give 60 pct of their forex to manufacturing firms

Russia lose Paralympics ban appeal

Monday, August 22, 2016

Analysts expect Buhari emergency power to arrest negative growth 

Nigeria’s descent in economy, politics and sports 

Time for sincerity and commitment to policy objectives

CBN moves to stimulate economy, directs 60% FX to manufacturing

EFF needs to introspect as well

Power supply improves as generation rises to 4,133mw

Transparency in oil and gas industry

Death of medical doctor: 32 quarantined in Asaba over Lassa fever

I hope Chelsea won’t get jealous of my Olympic medal – Mikel

Ambode tasks auditors on professionalism, service delivery

IDB to help Nigeria mobilise funding for infrastructure development

WAIFEM to become ECOWAS capacity building institution – CBN

20,000 traders in Kano receive Interest-free loans

Anti-land grabbing law will be frontally enforced

Nicolas Sarkozy declares candidacy for French presidential election

Presidency tightens security ahead of Kerry’s visit

ArcelorMittal South Africa to pay $110 mn to settle anti-trust charges

African nations must cooperate to develop their economies – Osinbajo

Suicide Bomber Kills 3 in Cameroon

Kerry Urges Deployment of ‘Protection Force’ in South Sudan

Basketball star Kobe Bryant sets up $100m investment fund

Adeosun says FG considering law to tax luxury items

StanChart cuts African private equity team as economies struggle

Russian court ruling could hit Google

The reality of a loan-free life

Anger in the Delta keeps oil majors quiet – and Nigeria’s crude offline

Buhari to ask for emergency powers to revive economy

First bank of Nigeria appoints Chief Financial Officer

Rolex: ‘We do not wear it, we eat it

Restructuring Nigeria not the answer, says Ganduje

Sunday, August 21, 2016

Banks see earnings growth on back of FX revaluation

Why the world is not beating a path to Nigeria’s door

Men of iron and steel

Insurers look to bonds, foreign investors to shore up capital base

Buhari turns to war against indiscipline as economy slides

Politicians and independence of the Central Bank

Nigeria delays awaited Q2 GDP on funding constraints

Iraq executes 36 men convicted in Islamic State massacre

World’s friendliest cities, according to Conde Nast Traveler

Turkish wedding suicide bomber was 12-14 years old, Erdogan says

Review budgeting system, NLC tells FG

Nigeria oil rebels announce conditional ceasefire

Ikorodu United F.C appeal LMC N3.5m fine

Liverpool not for sale despite Chinese interest – source

Hunger, hunger everywhere

Nigerian judiciary on trial

Intrigues behind botched PDP conventions

FG reopens Apapa Bridge to light traffic

Brexit pushes Opel to cut staff in Germany

Saturday, August 20, 2016

Delta community insists Chevron must stop operation

Abubakar urges roundtable dialogue to resolve Nigeria’s security challenges

It’s unfair to say the President can’t manage economy – Garba Shehu

Playing chess with Chibok girls 

Gen. Abdulsalami lauds Nnewi induialists contributions to economy

Rio 2016: Neymar powers Brazil to first Olympic football gold

Rio Olympics: Bolt says goodbye to 200m in style

‘You can’t reach the Promised Land if you don’t pass through wilderness’

Corruption fight, why not try the Rawlings’ approach?

Donald Trump: A parrot or a patriot?

Presidency tackles critics on prevailing socio-economic challenges

APC won’t impose, endorse any candidate – Oyegun

Death at the Presidency and the return of long, boring state protocol

Rio 2016: Nigeria beat Honduras to win first Olympic medal

Manufacturers seek stringent measures to end import of contraband, fake products

Amid economic challenges, inter-state transporters plan 70% fare hike

Usain Bolt achieves ‘triple triple’ three gold medals,as Jamaica wins 4×100 metre relay

Barcelona, Real Madrid or Atletico: Who will win La Liga?

Manafort quits as Trump campaign manager

Friday, August 19, 2016

Alarm over missing Petroleum Host Community Fund in new PIB

Nigerian oil output may stay low through 2017-report

2017 AFCON qualifier: Rohr names squad for Tanzania clash

It is too early to judge Buhari’s performance- Bakare

Green alternative to spur lending to agric sector 15% in 4 years

Farmers canvass innovation, capacity as rice, wheat production rises

BA cabin crew votes for industrial action against performance scheme

CBAN, CBN, IFC to review credit reporting, access to finance

BRIU appraises operations of Nigerian banks in SSA ahead of banking awards

We must plan ahead of Tokyo 2020 – Dalung

Rio 2016: Coach commends athletes in spite of poor performance

24 states ready to collaborate with FG on mass housing – Fashola

Access Bank releases consolidated financial statement – June 2016

Nigeria delays Q2 GDP data release on funding constraints

All-Share Index gains 0.84% at the NSE

What to see in Sydney

Nigerian interbank rate rises as naira shortage bites

Economic downturn, Islamist attacks cause hunger to spread in Nigeria -UN

Champion Breweries new MD pledges to maintain profitability

Nigeria to allocate $180 mln more in capital spending

Expert warns patients against self medication

Rio Olympics: Team Nigeria kits arrive 3 days to end of Games

Lawyer advocates special salary structure for teachers in public schools

Dispute with Ivory Coast affects oil development – Ghana President

Kerry visits Nigeria to meet President Buhari, Northern governors

UK public finances see smaller surplus

Harley-Davidson in $12m emissions penalty

Judge rejects Uber’s $100m settlement with drivers

Australia blocks Ausgrid sale to China

Thursday, August 18, 2016

New migration policy to boost Diaspora remittance to Nigeria – EU

Pension reforms boost SME compliance 5-folds in 2 years

The Abuja summer writing workshop for children

Has the tomato rain returned?

Aviation fuel price may force airlines to fly from Ghana

Beyond glamour, crime and violence rages in Rio Olympics

Hospitality investments on hold as returns decline

Is Pogba really worth the money?

FG resolute on concessioning airports, says aviation minister

Adeosun justifies Stoppage of Export Grant

Nigeria will soon bounce back as Africa’s biggest economy-Udoma

EASA Moves to Toughen Pilot Screening

Ajaokuta Steel to come on-stream in 18months

Nigeria targets 50% reliance on renewable energy by 2020- Osinbajo

NSE All-Share Index loses 0.06%

Buhari, Abubakar meet behind closed-doors

Fashola outlines pathway for Power, Infrastructure investors

3000MW Mambila power plant to take Nigeria closer to power security

Rio Olympics: Be proud of Dream Team VI , Adamu urges Nigerians

Rio Olympics: We don’t deserve to be in final – Siasia, Obi

D’Tigers outing not good enough – FIBA Africa President 

SURE-P: N5.7bn cash withdrawal by Shema, others contravene e-payment policy – Aide

Nigeria set to revise petroleum sector laws

Arsenal ready to spend in transfer market – Wenger

South Sudan opposition leader flees the country to escape rival; Spokesman

South Sudan opposition Leader flees the country to escape rival ;Spokeman

Saudi oil production push halts price rally

REMITTANCES: Brexit decision slows flow of migrant workers’ wages sent home

Jos Disco to commence prosecution of energy thieves

Wednesday, August 17, 2016

Brexit decision hits diaspora remittances to Nigeria, others  

Niger Delta Avengers now willing to dialogue with Federal Government 

What do we understand by institutions?

2,780 BDCs fail to meet requirement for FX demand  

On Naira devaluation: Did President Buhari get it wrong 31 years ago? 

Nigerian government and climate change activists: Playing to the gallery on climate change?

RMAFC visits Lagos  to assess request for 13% oil derivation     

Rio Olympics: Germany defeat Nigeria to set up Brazil final

Lagos to remove 3 roundabouts on Lekki-Epe Expressway

PDP crisis: Court affirms nullity in Sheriff’s leadership

CBN says Skye Bank neither distressed nor liquidated

Business leaders kick as FG proposes 9% communication service tax

RIVERS MAN holds 3rd Maths summer workshop in Port Harcourt

Cross River tourism adviser felicitates AMPON South-South chair on appointment

House of Versatile pioneers solo exhibition in Aba

CBN rolls out N1 billion loan to rice farmers in Enugu

Isiguzo appointed acting director at ACCIMA

Enugu Housing embarks on building housing estate

Kano gets first female Accountant General

Entrepreneur urges Abia to make CFC functional to promote made-in-Nigeria goods

Escaped Chibok girl: I miss my Boko Haram husband

Lagos to enforce street trading ban

Oil production in Lagos, significant economic boost for Nigeria-Ambode

Sani backs EFCC’s move to investigate alleged budget padding 

WeChat owner Tencent sees profits surge

GT Bank reports HY group pre-tax profit of N91.38 bn

Nigeria to experience 40th eclipse in 116 years

South Africa enters awkward coalition era after ANC domination

Union Bank offers free WiFi to commuters along Admiralty Way, Lekki

Nigeria Imports $227 Million of Sugar From January to July

Irish Olympic Committee executive arrested in Rio over illegal ticket sales

North Korea diplomat in London defects to South Korea

FIFA bans former SAFA president Nematandani over ethics violations

Discretion on trial

Man City goalkeeper Joe Hart considering loan move 

Earnings Alert; PZ Cussons Plc releases FY 2016 report.

Nigeria’s conditional cash grants aims to lift the poor

Mobile Apps are changing how Nigerians bank

Apple set to increase China investments despite challenging market

DMBs, MFBs hint at synergising to put a lid on financial exclusion

Tuesday, August 16, 2016

NAICOM, CBN lock horns over bancassurance

How to worsen a recession!

(Why) we are all corrupt (3)

Military victories spur market growth in North-East

Time to Genchi Genbutsu to the Gemba

Ghana’s Petroleum Act puts non-passage of PIB in limelight

Dangote Flour returns to profitability after takeover

9 Lagos-based films set for Toronto film festival

Stakeholders task government on proper policy formulation

Wema Bank targets SME growth with N20bn bond issue

Our budgets are people-oriented – Lagos commissioner

Fashola says govt role will ensure sustainability, profitability in power sector      

Nigeria seeks $7bn to kick-start mines, steel industry

Army/Shittes clash: Buhari still studying report, to respond in due course- Presidency 

COP22 to meet African civil society

International community examines Nigeria’s stance in digital revolution

Obasanjo, Amosun task media on national unity

Nigeria is ready for investments from all quarters, says President Buhari  

Scatec Solar secures 100mw solar project in Nigeria  

NNPC, Benue renew partnership on ethanol project

Seven candidates vie for new African places on FIFA council

Former FIFA president Joao Havelange dies at age 100

Nigeria has 65,944 prison inmates, plans to commission new facility

NSE: All-Share Index up by 72.5 points

FG to train 100,000 graduates as extension workers, says Osinbajo

Zambia arrests 133 protesters after contested election

UN begins IDPs registration in Bama, as soldiers rescue 88 hostages

My replacement should be a woman, says UN secretary general

Rio Olympics: Nigeria will not leave Brazil without medals – Dalung

6 ships laden with petrol waiting to discharge in Lagos ports

Japanese stocks fall as yen strengthens

Indonesian airlines cleared for US flights after 9-year ban

UK inflation rate rises to 0.6%

Mining giant BHP slumps to record loss

Pilgrims stranded as Max Air aircraft develops technical problem in Saudi Arabia

Mama Boko Haram: The army knows where I live, why did they declare me wanted?

Language Express partners Prognari for emotional software traning

Geldof’s fund buys $80 mn stake in Beloxxi

Zambian president Lungu re-elected in disputed vote

Consumers and the struggle for active lifestyle

Chibok Girls: Bolori, Wakili report to Army

Jibrin drags Dogara to Presidential Committee on anti-corruption

Monday, August 15, 2016

How oil sector crumbled, pushing Nigeria to brink of recession

Fertiliser companies, banks and threat of government control

Leaders make great nations

You are hereby directed to cut interest rates. Really?

Proposed upgrade of IST drums up divergent views from analysts

SNEPCo breaks new ground with Subsea Tree refurbishment project

Buhari urges for Unity in Guinea Bissau

Trade minister assures global auto manufacturers of Nigeria’s readiness for investment

Lagos adopts measures to free Third Mainland Bridge of gridlock

Naira firms across FX markets

Buhari calls for unity in Guinea Bissau

Nigeria to lose $1.3trn by 2026 to EPA arrangement – Report

N21bn Ogun model schools ‘ll commence operations in September – Amosun

Fayemi disowns phony Facebook accounts

Sports Direct to back-pay Derbyshire workers £1m

Ahmed seeks support of Kwara royal fathers on primary school education

Court fines Makarfi group over appeal

How to cope with economic downturn

NSE indices record 0.26% growth

Ethiopia, birthplace of Arabica plans becoming world’s second coffee producer.

New Agric Policy to launch Nigeria back on path of inclusive growth, says Osinbajo

5 things we love to hate about Lagos

Rio 2016: Full Olympics medal table

Rio 2016 Olympics: Diver proposes at medal ceremony

U.S Stocks records an all time high as oil price rises

IMICON to boost FG’s economic diversification drive

Chibok Girls: FG in talks with Boko Haram group

Oil bulls take heart as OPEC rekindles hope of output freeze

Demonstration against Chevron widens – protest leader

Kano floats $100 waste recycling plants

Ogun emerges mining capital of Nigeria

Innovation, competence, position Nigerian tech start-ups for FDI

‘No economic empowerment without engagement with private sector’

Beloxxi lures private equity investment

13,000 ‘ghost’ workers costing Mali $50 mln

Zambia elections: Opposition UPND alleges fraud

Why are Jamaican sprinters so fast?

Rio 2016: Bolt still the fastest man in the world

Rose wins first Olympic Golf title in 112 years

Rio 2016: Murray sets new Olympics record

Major setbacks on oil, gas reforms hurt economy

Hardware tech lapse causes revenue loss in aviation sector

Set up sports varsity to boost non-oil economy – SWAN

Skye Bank appoints new General Counsel

Wike vows to leave development tracks in all LGAs

Diversification of economy: Okowa challenges editors to continue fight

Sunday, August 14, 2016

Buhari’s plans inadequate to deal with Nigeria’s slump

Echoes of 1966 and the quest for nationhood

If Nigeria truly wants to industrialise, it must be export-oriented

FG in late rally to revive failing economy

Royal Exchange products attract customers as premium income spikes

Bank, client daily FX volumes surge above $100m as CBN pulls back

Chukwu cautions Dream Team VI ahead of Germany clash

Plateau: Farmers, stakeholders predict poor farming harvest

Farmers call for re-introduction of Agric extension officers

Chibok Girls: Army declares journalist, two others wanted

Edo 2016: Labour Party launches governorship campaign in Benin

Enyimba decries sudden rescheduling of game against Zamalek

Boko Haram: Video allegedly shows Chibok girls

Frustration grips business operators in Kano as economy shrinks further

Interbank rates to rise on FGN bond auction

D’Tigers beat Croatia to claim first win at Rio Olympics

Rio Olympics: Dogara tips Dream Team VI for gold

NSE market capitalisation loses N49bn, in spite of Zenith Bank’s interim dividend

Rio 2016: Okagbare out of Olympics 100m final

PDP chair: Intrigues in South-West, as Bode George battles Agbaje, Adeniran, Daniels       

Saturday, August 13, 2016

PDP convention: Northern leaders set up screening committee

No money misappropriated in 2016 budget – Dogara

Gov. Ganduje lays foundation for N36bn waste recycling plant in kano

Who owns church’s money?

Ken Nnamani: Ready to make the next move?

Resurgence of polio cases dent Nigeria’s clean-record attempt

Abuja-Kaduna train service records N5m income in 2 weeks

‘Our leaders must urgently quench fire of ethnicity and religious intolerance’

From the Lower Chamber

Rio 2016: Nigeria defeat Denmark to seal semi-final place

Man City boss Guardiola begins EPL reign with win

Zambia’s Lungu ahead in early vote results, opposition cries foul

Sultan tasks governments on Muslims rights

MAN says exclusion of 41 items from FX shut down 50 industries

Friday, August 12, 2016

Messi reverses decision to retire from national team

BoI/Gombe sign N360m solar power pact

Airlines to airlift 80,000 pilgrims amid spike in airfares, economic downturn

British Council moves to empower youths against violent extremism

Overnight rate spikes as CBN moves to lure foreign flows

IPOB: Nnamdi Kanu ready for political solution to predicament

FG sets up committee to concession Nigeria railway

NSE scraps trading fees on fixed income traded on its platform … replaces fixed Brokerage Commission of 0.0005% with negotiable rate capped at 1%

Buhari urges rich countries to save Lake Chad from extinction

Refocusing the Nigerian youth

Four pastors in police custody over alleged murder of woman pastor

FG rated 35,development partners 70 percent in New Alliance Grow Africa Annual Report

China’s economic slowdown deepens

Germany economy slows in Q2

Thursday, August 11, 2016

OPS wants policy consistency, gas to pull economy out of recession

Record high sovereign yields spur crowding out fears

The many broken girls of the world

Nation holds its breath as Nigeria delays Q2 GDP data release

Nigeria looks to establish agency to manage recovered assets

Business sentiment up on FX liberalisation

US retailer Macy’s to close 100 stores

Ethiopia deadly Protests. Grant International observers access – UN human rights High Commissioner

IMF reaches staff-level agreement with Egypt on 3-yr US$12 bn extended facility

Nigeria helped by low debt as it tackles slump with spending

Nigeria move three places up in August FIFA ranking

Key U.S. Africa ally faces more unrest after scores killed

Buhari commissions N100mn Intensive Care Unit in Kano

PDP loses State Assembly candidate to APC in Sokoto

Split BT and Openreach, ex-minister Anna Soubry says

Samsung denies keeping information from workers

Oil demand set to slow in 2017 says IEA

Australia blocks Chinese firm from stake in electricity grid

Wednesday, August 10, 2016

Nigeria begins overhaul of tax policy as oil incomes shrink

Riding on the back of the tiger

Two years after, Nigeria loses Africa’s top economy spot to S/Africa

Nigeria’s oil future anchored on market driven economy

Top power firms say will turn Nigeria off if not paid

OAK Pensions AUM grows 24% to N48.5 billion

Ship traffic into Nigerian ports falls 77.8% on economic downturn

2016 budget implementation will lead economy out of recession – Fashola

OPEC says weak oil demand is here to stay

Negative yields have turned Bond trading into a Commodity Market

Mongolia calls for economic ‘crisis’ plan; bonds tumble

UIS to produce new generation of data, monitor Education 2030 initiative

Sukuk bond to be issued in 2017 – SEC

Oshiomhole says progressive govts must maintain minimum wage

FCT Minister reshuffles cabinet, sacks AGIS, Land Directors, others

Tax remittance: NNPC mulls joint committee with FIRS

Apple denies iPhone price-fixing

Ralph Lauren and Michael Kors report weak sales

Mounting oil stockpiles to keep prices weak

Wendy’s sales hit by cheaper US grocery prices

NUPENG calls on FG to pay JVF to oil companies

Rio 2016 Olympics: Basketball fans rues D’Tigers loss to Lithuania

Hunger, poverty killing Nigerians – Senator Shehu Sani

FG to deploy relevant mechanisms against retrenchment in private sector – Ngige

Nigeria cannot be cut off from the world because it is facing hard times – Lai Mohammed

NLNG to rely on alternative supply sources

UK launches 24-hour visa service in Nigeria

Lagos State to hold LG polls soon – Commissioner

Lagos eyes world record in hosting monopoly championships

Nigeria’s deadly battle for land: Herdsmen vs. Farmers

BusinessDay Media Partners With Usanii African Art Exhibition

Australia’s Commonwealth Bank posts record profits

Brazil Senate votes for Rousseff impeachment trial

Phelps wins 21st gold in freestyle relay

Anger over Donald Trump gun rights remarks

Donald Trump: ‘Second Amendment’ gun advocates could deal with Hillary Clinton

CBN tightens noose on its lending window

Tuesday, August 09, 2016

Recession or recovery?

Recession: Understanding the present predicament (2)

The Skye can be big enough again!

Mapping a sustainable future for West Africa’s oil, gas sector

Still living in denial

WTO urges tech companies: Make e-commerce a force for inclusion

FG to roll out new health policy, targets malaria containment by 2020

CBN says no concessionary FX rate for Pilgrims

FG borrowing cheaply to fund infrastructure, grow private sector-Adeosun

Nigeria spends over $4 billion annually importing textiles, ready made clothing -NTMA

2019: Agbaje pledges to ‎lead PDP to victory

No plan to increase fuel pump price- NNPC GMD

Budget padding: Aggrieved principal officers move against Gbajabiamila

Fashola tasks state governments to assist in energy supply improvement

Ahmed earmarks N965mn as infrastructure intervention fund in 193 Kwara wards

Fayemi to deploy 20,000 officers to sanitize mining sector

No Olympics boost for Nike – Dow’s worst stock

Cash-starved Burundi reports stronger inflow from domestic taxes

A 23-year-old who wants to make Africans rich

Opec producers renew push for output curb

OPEC still faces same obstacles to agree on oil-output limit

China warns U.K. that relations hang on hinkley point

NFF names Gernot Rohr new Super Eagles Technical Adviser

Skye Bank to file Q2, 2016 Interim result by 30, September

Japanese shares resist negative US trend

Unity Kapital Assurance approves resignation of managing director, chief financial officer

Naira hits all-time low of 350 per dollar on interbank market

Med-View Airline begins airlift of pilgrims

Man City sign Everton defender Stones for £47.5m

International Aviation Group to establish Maintenance, Repair facility in Abuja

Man United sign Paul Pogba for world record £89m

Welcome to Apapa

Okorocha’s N5m tears Imo NUJ apart

Abia awards N42bn contract for road construction

C’River Assembly can’t stop Ayade from travelling – speaker

NDDC begins 2-week remediation work on Calabar-Itu-Ikot Ekpene-Aba highway

Wike opens up on claims of being sponsor of NDA

FG is paying lip service to diversification of economy

Monday, August 08, 2016

CBN gives banks one-off forbearance on NPLs

Atiku’s chord that tickles

Rising wage theft is agonizing

Nigeria shops for managers, advisers for record $1bn Euro bond

The President and the private sector

AfDB invests $9mn to support enterprise in Nigerian agriculture  

At least 90 protesters killed in Ethiopia: residents, opposition

Nigeria’s $4 per hour puts it on list of least productive economies

Security threat: Edo assures US government of adequate security

Egypt announces sharp rises in electricity prices as it aims to phase out subsidies

At least 33 protesters killed in Ethiopia’s Oromiya region: opposition

Trump to target taxes, regulations in economic policy speech

NEMSA inaugurates contractor certification panel to end quackery in power sector  

Delta struggles to restart flights after power-system failure

Computer Warehouse Group changes name to CWG Plc 

ASEPA to sustain drainage desilting to forestall flooding in Aba

Sao Tome’s ex-prime minister elected president in one-man race

Election of Mahmud as NBA president is plus to crusade against corruption, says Badaru  

Delta says flights resuming but massive cancellations still expected

Alphabet’s transformation is more complex than ABC

Cyber security alert on Qualcomm’s Android chips

Elections in Africa usher in positive changes

Fruitful businesses tap into continent at ground level

Review – ‘Modern monopolies’, by Alex Moazed and Nicholas Johnson

WAEC withholds 137,295 results of May/June candidates over exam malpractices

FG drags Turkish Airlines to Court over Violation of Passenger Rights

UK opens Airbus corruption investigation

‎Budget padding not possible without connivance of executive arm — Na’Abba

Disease kills 23 cows, infects 63 in Katsina

Delta grounds flights worldwide following computer outage

Kwara disburses N430m, cuts tertiary institutions’ subventions

Paraded kidnappers admit collecting N15m to free Lagos monarch

FAFIN invests in Dayntee Farms

Nigeria, Niger, Cameroon get EU’s €12.5m aid as humanitarian crisis worsens

NCC, NITDA establish joint committee to boost Nigeria’s ICT

NAMA squeezed as debt by domestic airlines reaches N8.08bn

Sunday, August 07, 2016

CBN transparency initiatives in FX Market may be at risk

$10m power plant in Banana Island idles away as residents union, IPP owners tango

The role of leadership in economic development

Buhari shares Adam Smith’s cynicism about business, but not his solution

NNPC moves to bolster domestic LPG consumption

Total investments over $10bn in oil/gas projects

Thinking of setting up an Investment Club?

Zlatan header wins Man United’s 21st Community Shield

Buhari leaves Nigeria on Monday for Idriss Deby’s inauguration – Presidency

INEC declares APC winner of Yobe by-election

Glencore lifts suspension of output at Zambia copper mine- trade union

Kwara reaffirms ownership of Harmony Holdings Limited 

Eni reaches deal with Exxon on Mozambique gas project

NFF recommends Gernot Rohr as new Super Eagles coach

Nigeria will triumph in Niger Republic – Manu Garba

Rio Olympics: Organisers apologise to Nigeria over wrong anthem

Kelechi Nwakali finally completes Arsenal move

Nigerian equities market records 36.13% turnover drop in July

Saturday, August 06, 2016

African cassava initiative moves to reduce yield gap on the continent

We will not disconnect owing FG’s MDAs – ANED

Budget-padding: Conmen as lawmakers? Outrage over fraudulent legislators

Frustration fuels call for Nigeria’s restructuring

The return of female officers and other matters

NSE market capitalisation loses N112bn

Rule of law and the arrogance of corruption

Buhari directs HOS to develop road-map for civil service

Nigeria to host field epidemiology training conference

President Buhari commends Dream Team’s performance against Japan

Kerosene is N150 per litre from NNPC depots, says NUPENG

Obasanjo rules out going back to PDP, requests more investigative journalism

Bauchi set to partner Olam in boosting sesame seed production

Africa’s ‘KINGS’ countries will drive the continent’s digital economy

AfDB invests $9mn to support enterprise in Nigerian agriculture

Fayemi recalls mines officers over illegal diversion of explosives

FG partners Plateau State to eliminate illegal mining      

CAC new draft CAMA bill to facilitate protection of distress firms

Agric productions trailed by mixed output

Friday, August 05, 2016

Experts recommend ‘virtual pipelines’ drones as power plants gas constraint solution

Poor cancer treatment puts productivity at risk

Lagos CIBN seeks ways to repower economy at bankers’ nite

Ghana suspends planned $500 mn Eurobond issue

Nigerian hospitality risks $507m revenue projection in 2020

Concerns mount as rising vacancies, rent default deepen facilities managers woes

Nigeria needs to be innovative, competitive in agricultural, says Gov. Aregbesola

BANKS: European lenders join forces to target Africa

Buhari says herdsmen, farmers clash intolerable

I will not resign, Dogara tells critics

 NDLEA arrests Malian, 4 Nigerians with 4,580kgs of drugs in kano

Nigerian email scam targets unpaid invoices

South Sudan president fires ministers allied to rival Machar

FIFA president Infantino cleared of wrongdoing in ethics probe

Nigeria plans to spend itself out of a slump

Woman jailed for 22 years for trafficking Nigerian girls for sex trade

Naira quoted at 400 per dollar for first time on parallel market

MTN reports $357 mn loss, cuts dividend

Major European flea market cancelled over security fears: French mayor

Recession

Oil sees overnight gains, trades at $43.96

Analysts doubt Nigeria can spend itself out of slump

‘Lagos is poised to become Africa’s Technology hub’

ANC concedes local election defeat in key South Africa city

Royal Bank of Scotland slumps into second-quarter loss

Rio Olympics: Nigeria edge Japan 5-4 as Etebo scores four

FG to draw funds from JVC for counterpart on Ogoni clean up

SystemSpecs bags 3 awards at ICT industry night

Nigeria’s budget process needs reforms – NLC

Developers, investors in risk-sharing strategies as loan facilities shrink

Thursday, August 04, 2016

Discretionary award of oil blocs ridicules FG’s reform claims

Operators anchor improved oil sector margins on transparency, security

Sister-in-law issues

Transcorp delays $1bn power project over gas shortage

AMCON on sound footing as CIR dips 95%

Are you always on the road, get personal accident insurance?

Fashola inspects failed portion of Apapa-Ijora bridge 

Nigeria, Spain pledge to strengthen trade ties

Naira falls to N400 as dollar shortage bites harder

Presidency picks 30 Nigerians to pitch innovative tech ideas at Asp Villa Day

Buhari calls for intensive economic engagement with Italy

Diamond Bank focuses on agriculture, health, education in BET6 initiative

Clinton gains traction as Trump stumbles

NCC says internet users remain at 92m in June

Bank of England cuts rates to record low on Brexit

Medium Term Expenditure Framework should increase investors’ appetite, says OPS

FG,Nigeria Breweries  to  sign MoU on Annual Maltina Teacher Award

Customs agents to shut down ports over hike in duty

Africa battles to get big solar projects on grid

Sokoto govt. spends N133m on rural feeder road, says Commissioner

Kano Govt. suspends director, sacks 9 officials over alleged fraud

Teen murder suspect held in London stabbing spree

Pound slips ahead of UK rate cut

South Africa’s ANC fights for its life in Johannesburg

Calls for ‘calm’ after London stabbing attack kills one, injures five

Egypt’s Global Telecom posts Q2 net profit of $26.5mn

South Africa’s ANC takes early lead in vote, battle for cities still on

South Africa’s rand flat as election results trickle in

Transcorp stops $1bn Nigeria power Plan on scarce gas

MTN Posts First-Ever Loss After Tallying Impact of Nigeria Fine

Wednesday, August 03, 2016

Sugar makers reach 15000MT milestone as import falls $80.2m

The case for the private sector in Africa

Interbank FX rate averages N294.73/$ on low naira liquidity

Airlines will survive if they can re-access, mitigate their financial risks – Tayo Ojuri

RwandAir to commence daily flights to Lagos to connect Mumbai, Guangzhou

Time to invest in property now as demand remains weak despite 40% price drop

University senates should be allowed to admit students, choose VCs – Okojie

Port users decry state of Apapa roads as gridlock returns

Senate is involved in the budget padding – Transparency Group member

Calls to restructure Nigeria’s transmission company thicken  

Skye Bank partners Parkway on Bank3D banking app

Nigeria’s Olympic soccer team stranded in Atlanta over unpaid flight bill

CBN bursts unwholesome ploy of unregistered IMTOs

2016 budget scandal: Jibrin raises fresh alarm on $25,000 bribe to lure members

Badaru received National President of Magistrate Association of Nigeria

Ebola after-effects threaten food shortages in West Africa – U.N.

HSBC profits plunge as Brexit uncertainty bites

Tin-Can Island Customs II revenue dips by N129.5m in July

75,000 wheat farmers to benefit from CBN’s loan, says Official

Abia extends tricycle operational time to 9.00pm

Ikpeazu flags-off remodeling of Enyimba International Hotel

WSJ: Obama paid $400mn in Cash to Iran as it released Americans

An oil boom made it the most expensive city in the world, now it’s in crisis

Fly away

Still need Olympic lodging? Rio is World’s priciest Airbnb City

Private sector activity in South Africa shows mild improvement

Nigeria scraps plans for $10 mn film village after Muslim clerics protest 

Ghana lawmakers back budget funding bill; breach terms of IMF deal

‘No food and daily attacks’ – Aleppo resident tells BBC of fight for survival

Oil Bulls have some comfort on the way: Citi

FG gives 105 days for GSHL to present business plan on NIOMCO concessioning             

Calls to restructure Nigeria’s transmission company thicken 

Hold me responsible for APC electioneering promises – Obaseki  

US crude drops below $40 a barrel

Tuesday, August 02, 2016

Oil majors’ HY1 losses may hurt Nigeria’s 2017 revenue projections

The Skye bank challenge

Dangote transforming African economy, says Togo President

Economic hardship heightens domestic violence, report reveals

‘With momentum of investment in cashew, Nigeria can achieve 500,000mmt in 2020’

Recession: Understanding the present predicament (1)

‘Hike in interest rate will make Nigeria an attractive market for foreign investments’

Buhari’s Economic Team consults financial experts on strategies to reflate the economy

Nigeria to debut new Nike jerseys at Rio Olympics

Premier League transfer spending hits £475m in July

Tyson Fury sues UK Anti-Doping

Amcon to lease seized property to plug funding gap

Ray of hope for LUTH’s patients as nurses suspend strike

Buhari reassures of stable power supply

Buhari nominates Durojaiye as Chairman NCC

Nurses suspend 52-day strike in LUTH

FG gives 105 days for GSHL to present business plan on NIOMCO concessioning

WorldRemit calls for urgent restoration of money transfers to Nigeria     

Flour Mills of Nigeria plans 40 bln naira share sale

Niger state spends N50m on renovation of courts

Dylann Roof case: Defense lawyers file challenge to federal death penalty

Uganda picks Nigerian, Australian firms for oil licensing round

Barclays to sell more of its stake in Barclays Africa in coming weeks

15 feared killed in farmers, herdsmen clash

Syrian town ‘attacked with chlorine gas’

EU signs agreement to offer €50mn support against Boko Haram 

French priest slain by jihadists to be buried

Man City sign Leroy Sane in £37 mn transfer from Schalke

US election: Donald Trump warns vote could be ‘rigged’

Oando Plc reports H1 loss after tax of 27.0 bln naira

Firefighters continued to battle huge wildfires in California

Rio Olympics opening ceremony to break with opulent Games traditions

BMW powers through second quarter towards record year

Raw materials, production cost rise as high exchange rate continues to squeeze businesses

Nigeria tells banks to make extra provisions on dollar loans immediately

NLC condemns shooting of workers in Nasarawa

N63bn needed to revive River Basins as agencies remain comatose on policy inconsistency

Amosun lauds Buhari on extermination in Arepo, orders destruction of militants’ boats, jerry cans

Tennis battles to save image after Rio Olympics pullouts

Monday, August 01, 2016

Investors see further dip on weak market sentiment

Women on global political ascendancy

Naira averages at N314.49/$ on improving liquidity

A nation of fantastic consumers

African currencies in struggle for their lives

Petroleum, Power Ministers, stakeholders set for  Energy  Conference

‘The biggest threat to satellite TV is good internet’ – Spectranet CEO

NAAPE to build N2.5bn modern facility at MMIA

Jigawa attracts over $600m private direct investment

Card fraud drops by over 96% on migration to EMV – CBN

Buhari reiterates Nigeria’s support for UN’s demarcation of Nigeria-Cameroon Border

FG to reduce importation of items to N8.79trn by 2019

Interpol arrests Nigerian accused in $60 million cybercrime

Naira extends loss at parallel market

Cardio-Thoracic surgeon arraigned for receiving gratification

Railway officials get one year jail term for abuse of office

Wema Bank plans N20 bn bond issue this month

FG owes retired civil servants N293billion in arrears

Over 300 Nigerians died during Saudi stampede, malaria outbreak – NAHCON chair

Barclays to cut Africa stake below 50%

Why we prefer visa-on-arrival to African Union’s Passport – TeamAfrica

N40bn budget padding : Jibrin petitions ICPC, DSS and EFCC

Mafiana is new NUC boss

Goldman Sachs: Avoid stocks for next 3 months

Google partners with GlaxoSmithKline on $700 million ‘bioelectronic’ venture

Abubakar Mahmoud wins NBA Presidency

Uber sells Chinese business to Didi Chuxing

US election: Trump, Clinton spar for national security upper hand

Online fraud: Top Nigerian scammer arrested

Syria war: Russian helicopter shot down, killing five on board

How to lift millions of Africans out of poverty

Bayelsa threatens to seal oil firms for tax evasion  

Customs say Port Harcourt ports bounce back in containerised cargo imports

Nigeria plays waiting game as 20 nations ratify Paris Agreement on carbon emission

Sunday, July 31, 2016

BDC rate race halts on expected liquidity