Posted in NAIJA BIZ

States’ debt stock hits N5.27 trillion, as Imo, Rivers borrowed the biggest

The debt stock of states in Nigeria rose to N5.27 trillion in June 2019. This is reflected in the latest report released by the Debt Management…

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Innoson calls ‘student’ graphic designer for pitch meeting

Innoson Vehicles, indigenous automaker, may change its trademark logo if the company’s meeting with a student of University of Ibadan (UI), Farouq Osuolale, who designed…

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GTBank, Access, Zenith, UBA, FBN loans rise to N9.28 trillion in six months

TBank, Access Bank, Zenith Bank, United Bank of Africa and First Bank (FUGAZ) gave loans worth N9.34 trillion to their customers in the first half of…

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Nigeria gets real with $62 billion demand from IOCs

Despite ongoing litigations by Nigeria demanding that international oil companies operating in the country should pay up money they owe to the tune of $62 billion, the…

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AfDB to hire professionals through 2019 YPP

African Development Bank Group (AfDB) has launched the 2019 edition of its Young Professionals Programme to attract highly qualified and motivated professionals across member countries. YPP…

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Netflix addresses streaming war between Apple and Disney

Netflix has addressed the brewing competition in the streaming market space, as the launch of Apple+ and Disney+ are fast approaching. Nairametrics understands that since…

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Belema Oil partners MAN Energy Solutions on power generation

Belema Oil Producing Limited (BPL) is set to partner with MAN Energy Solutions, a turbomachinery international company through American equipment exporter, Combustion Associates Inc. (CAI)…

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IGI cuts 60 jobs, as MD seeks turnaround measures

60 employees engaged with Industrial and General Insurance (IGI) Plc have allegedly lost their jobs due to prolonged liquidity issues encountered by the company. Nairametrics gathered that sack letters…

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Nigeria, Canada to ink new $2.3b power deal

The Federal Government and a Canadian firm, TREDIC Star Core are working on a $2.3b power deal which could improve Nigeria’s electricity generation by 1,652 megawatts (MW)….

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Twitter warns political figures to abstain from fake, misleading statements

Social media platform, Twitter has cautioned political figures against spreading false and misleading statements.  The Details: Twitter directed the warning specifically to world leaders, stressing that they are not above its rules. It warned that it could…

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IMF enjoins CBN to unify exchange rate, here’s why

The International Monetary Fund (IMF) has recommended that the Central Bank of Nigeria unifies the exchange rate system for stronger economic growth in the country. The IMF gave this advice during the…

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NECA foresees possible retrenchment in labour market

Stakeholders and industry experts have been reacting to the 2020 budget since its presentation by President Muhammadu Buharibefore the joint session of the National Assembly. The Nigeria Employers’…

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Border Closure: Ghana begs Nigeria to open its borders

The Republic of Ghana, through its Foreign Minister and Regional Integration, Shirley Ayorkor Botchwey, has begged Nigeria to re-open its borders. Ghana said it had been…

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Inflation quickens to 4-month high of 11.24% on food, utilities

According to official data released by the National Bureau of Statistics (NBS), consumer inflation quickened to a four-month high of 11.24% y/y in September (August: 11.02% y/y),…

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PwC proposes possible solutions to the biggest problem facing Nigeria’s electricity sector

Anyone living in Nigeria can testify that insufficient electricity production/distribution is the biggest infrastructural challenge facing the country. This problem has lingered for many years,…

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FG moves to clamp down on tax evaders in mining sector

The Federal Government has reiterated its commitment to clamp down on tax evaders and revenue leakages in the mining sector as it introduced new Mineral Export Guidelines. On…

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Nigeria borrows N754 billion in 3-month, total debt now N25.7 trillion

Nigeria’s total debt stock rose to N25.7 trillion (US$83.8 billion) as of the end of June 2019. This is contained in the latest report released by…

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Budget 2020: Oil workers to earn N75 billion

The salaries and allowances of workers in the Ministry of Petroleum Resources and four other parastatals have been set at N74.65 billion in 2020. This is according…

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NNPC boss blames failure of refineries on negligence, says there are no excuses

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari admitted that there is no excuse for the failure of Nigeria’s refinery to work. Instead,…

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IMF warns against uncertainty surrounding global economy weakness

October 15, 2019he International Monetary Fund (IMF) cut its global growth forecast in its October 2019 World Economic Outlook (WEO).   The report revealed that the global growth estimate for 2019 was as…

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