Business

Nigeria to further cut oil benchmark for 2020 budget

Nigeria’s Minister of Finance, Budget and National Planning, Hajia Zainab Ahmed, says the country will further cut its crude oil benchmark for the 2020 budget to $20 per barrel as crude oil prices continue to dwindle at the international market.

The revelation came barely two weeks after [...]

Sun, 10 May 2020


IPMAN calls for increased local refining of petrol

The National President of Independent Marketers Association of Nigeria, IPMAN, Comrade Chinedu Okoronkwo, has called for increased local refining of petrol to mitigate the impact of the crash in global crude oil price on the nation’s economy.

Okoronkwo, who spoke to nation’s wire se [...]

Sun, 10 May 2020


NSE: market indices record first week loss of 1.27%

The Nigerian Stock Exchange, NSE, on Friday recorded first-week loss with the market indicators dropping 1.27 per cent due to profit taking.

Specifically, the market capitalisation of listed equities dipped N161 billion or 1.27 per cent to N12.531 trillion compared with N12.692 trillion achieve [...]

Sun, 10 May 2020


COVID-19: FG decries crowded scenes at banks, others

As Nigeria grapples with the deadly COVID-19 pandemic amidst escalating infections and mounting deaths across the country, federal authorities have decried the continued violation of guidelines set up to check the spread of the virus.

Minister of Industry, Trade and Investment, Otunba Adeniyi A [...]

Thu, 07 May 2020


NNPC slashes ex- depot price of PMS

Signs that petrol price could be slashed further by the federal government emerged on Wednesday as the Nigerian National Petroleum Corporation, NNPC, announced a reduction of its ex-depot price of petrol from N113.28k per litre to N108.00K per litre.

The corporation said in a statement by its S [...]

Thu, 07 May 2020


Zenith Bank’s profit rises by 3% to N58.7 bn in Q1 2020

Zenith Bank Plc has announced its unaudited results for the first quarter ended 31st March 2020, with profit before tax rising by 3% to N58.7 billion.

 

The unaudited account, which was presented to the Nigerian Stock Exchange, NSE, re [...]

Sun, 03 May 2020


CBN, Bankers Committee halt sack of banks’ workers

Respite came the way of embattled bank workers on Sunday as the Central Bank of Nigeria, CBN, halted lay-offs by banks.

The apex bank said in a statement, Sunday, that the decision was taken after a special meeting of the Bankers’ Committee.

Director of Corporate Communications of [...]

Sun, 03 May 2020


60,000 Benue households to get FG’s N5,000 cash transfer

 

 

 

 

Over 60,000 households in Benue State, are qualified to benefit from the federal government’s N5,000 cash transfer as palliatives to cushion the effects of the coronavirus pandemic.

Com [...]

Sun, 03 May 2020


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