Business

Zenith

Nigerian Finance Minister blames West’s green energy drive for electricity shortage

Nigeria’s finance minister, Kemi Adeosun, has blamed a Western focus on green energy for prohibiting the country from addressing its energy deficit.

Nigeria will be out of recession by 2017 – IMF

The International Monetary Fund (IMF) has predicted that the Nigerian economy will grow by 0.6% in 2017, effectively lifting the country out of an officially declared recession.

NCC clamps down on pre-registered sim card selling outlets, arrests nine in Niger, FCT

By Ummi Ismaeel

Minna

Oil shares lift global stocks, crude dips on doubt over OPEC deal

An agreement by OPEC members to curb output boosted oil company shares on Thursday, lifted the currencies of crude-producing countries, and drove yields on low-risk government debt higher.

 

MTN denies illegal transfer of $14 billion from Nigeria

Why oil prices will rise soon

As the September 26 to 28 “informal” meeting of OPEC producers in Algeria draws near, media speculation could easily cause mental anguish. On oil news websites simultaneous headlines claim OPEC will both fail and succeed in capping output.

Guinness declares loss after tax of N2 billion

Guinness Nigeria on Tuesday, September 20, 2016, announced its first set of results combining sales from both beer as well as International Premium Spirits (IPS) like Johnnie Walker and Baileys.

Venezuela wants oil at $70 per barrel: 'Fat Chance'

Venezuela’s oil minster Eulogio Del Pino said current global oil supplies need to drop at least 10% before supply would match consumption.

Nigeria’s foreign exchange reserves fall below $25b

Nigeria’s foreign exchange reserves have plummeted to a new low of $24.88 billion, indicating dwindling confidence in the economy, despite reassurances by authorities.

Development of housing market key to economic revival — CBN

The development of Nigeria’s housing market is key to growing the economy and the Gross Domestic Product (GDP), Mr. Godwin Emefiele, the governor of Central Bank of Nigeria (CBN), has declared.

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