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15:47 Airport Will Temporarily Shut, Disrupting a Nigerian Lifeline


10:51 Militant threaten to bomb MTN, other South African companies


15:19 Nigeria will struggle to lure back Investors, Except it floats Naira – JPMorgan


20:36 7 biggest political fights that have caused tension in Nigeria


15:00 Nigeria's oil production increases to 1.484m bpd


13:45 Nigeria lost N3.8 trillion to theft, pipeline vandalism in 2016


13:10 Breaking: DSS arrests Ifeanyi Ubah over economic sabotage, alleged N11bn oil theft



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  • ALERT: Residents of Ikoyi, VI will experience 5-day power outage

    May 22, 2017 12:34 PM 11

    There will be disruption of electric power supply for five days in some parts of Lagos this week, the Eko Electricity Distribution Company (EKEDC) said on Monday. In a statement, Godwin Idemudia, EKEDC spokesman, said the outage was to enable the Transmission Company of Nigeria (TCN) address technical issues at Alagbon transmission station in the state

  • CBN’s MPC Outcome: Analysts predict status quo

    May 22, 2017 1:14 AM 12

    Analysts have predicted that the 11 member Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) will retain key policy rates at the end of their meeting starting today and concluding tomorrow. Meanwhile the scarcity of funds bedeviling the interbank money market is expected to persist this week with volatility in cost of funds as experienced

  • Bid to boost India, Africa trade ties

    May 21, 2017 2:57 PM 13

    Finance Minister Arun Jaitley will discuss potential areas of boosting cooperation between India and Africa here on Monday. Mr. Jaitley will open the India-Africa Cooperation session being held in conjunction with the annual meeting of the African Development Bank (AfDB). The sessions will cover areas such as trade and investment, agriculture, renewable

  • Energy firms account for 58% of Zenith Bank’s NPL

    May 20, 2017 12:38 AM 14

    The volatility in the petroleum industry has continued to affect Nigerian banks negatively and if not addressed systematically and urgently, it might push the sector to the brink of another crisis. Specifically, the cumulative non-performing loans of power, oil and gas companies, in the books of Zenith Bank Plc rose to N41.49 billion as at the end of 2016, accounting

  • How smartphone boom will drive Africa’s data explosion

    May 19, 2017 11:50 PM 17

    Cheap smartphones could drive a data revolution in Africa, according to the CEO of one of Africa’s biggest cellphone operators. “There is no fixed line alternative, most [people] are overly dependent on mobile phones, as people start to experience the internet… most people experience it on the cell phone.” There are around 370 million mobile subscribers

  • Chevrolet to Leave India by End of 2017

    May 18, 2017 11:51 PM 16

    DETROIT — General Motors Company is pulling its Chevrolet brand out of India, South Africa and east Africa by the end of this year. The company will retain its assembly plant in India but will only make vehicles for export. It is selling a plant in South Africa to Isuzu Motors. GM CEO Mary Barra said the company wants to focus on markets that will help its profitability

  • Onyema: Foreign Airlines are Depleting Our Reserves

    May 18, 2017 11:11 PM 25

    What gave you the impetus to embark on international flights, knowing that since the defunct Nigeria Airways, local airlines have not been successful on long haul routes? Like I have always said , I am a Nigerian nationalist, I believe in this country whole heartedly and if I find myself in any position that I can use in touching the lives of Nigerians

  • Facebook fined $122 million in Europe for misleading regulators about WhatsApp deal

    May 18, 2017 2:02 PM 17

    European Union antitrust regulators fined Facebook 110 million euros ($122 million) on Thursday for giving misleading information during a vetting of its deal to acquire messaging service WhatsApp in 2014. Calling it a "proportionate and deterrent fine," the European Commission, which acts as the EU's competition watchdog, said Facebook had said it could

  • Facebook fined $122M for misleading EU over WhatsApp

    May 18, 2017 1:50 PM 19

    Facebook Inc. was fined 110 million euros ($122 million) by the European Union for misleading regulators during a 2014 review of the WhatsApp messaging service takeover on the same day the EU threatened to heavily penalize Patrick Drahi’s Altice NV for implementing fora second time a deal before getting regulatory clearance. The European Commission won’t

  • Nigeria lost N3.8 trillion to theft, pipeline vandalism in 2016

    May 18, 2017 1:45 PM 25

    The federal government may have lost over N3.8 trillion to shortfall in oil production in 2016 due to militants’ attacks and oil theft in the Niger Delta. This was disclosed by the minister of petroleum, Dr Ibe Kachikwu in Lagos on Wednesday, May 17, at the Rainoil 20th anniversary lecture. According to the minister, Nigeria lost about 700,000 barrels