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17:43 Dangote drops out of TOP 100 richest in the world, meet 3 richest Nigerians for 2017

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21:23 Abuja airport 57.5% completed as FG reaffirms re-opening date

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

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

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

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

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

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Business

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  • Nigeria's Lagos State redeems 57.5 bln naira from bondholders

    April 25, 2017 12:39 PM 13

    LAGOS (Reuters) - Nigeria's commercial hub, Lagos State, has redeemed 57.5 billion naira ($183 million) worth of local currency bonds it issued seven years ago, it said on Tuesday. Finance Commissioner Akinwunmi Ashade said the state was paying off its debts to create space for new issuance to raise funds for infrastructure investment. He said the state

  • We need N100bn from FG to improve power supply, say DisCos

    April 25, 2017 9:39 AM 14

    The Association of Electricity Distribution Companies (ANED) has appealed to the federal government to provide the N100 billion subsidy it promised after private investors took over the power sector utilities on November 1, 2013. In a statement by Sunny Oduntan, its executive director, ANED urged the government to inject funds into the transmission section

  • Lagos generated N436bn internal revenue in 2016 – commissioner

    April 24, 2017 12:29 PM 18

    The Lagos State Government generated N436.3 billion internal revenue in 2016 from the N399.4 billion realised in 2015. The state realised N7 billion from Land Use Charge (LUC) in 2016 against N6 billion in 2015. Mr Akinyemi Ashade, the state Commissioner, Ministry of Finance, made the disclosure at the ministry’s 2017 Ministerial Press Briefing to mark Gov. Akinwunmi

  • Federal taxpayers to pick up tab for Queensland cyclone

    April 24, 2017 12:00 PM 16

    Tropical Cyclone Debbie has blown a $2 billion hole in Queensland's budget bottom line but the bulk of the tab for damage to public infrastructure will be picked up by federal taxpayers. This would leave a net cost to Queensland taxpayers of about $500 million, Mr Pitt said. But he said the state was still on track to deliver a surplus in the June 13 budget

  • Housing Finance Bank registers Shs 18.05bn net profit

    April 24, 2017 10:00 AM 16

    Uganda’s commercial banks spent almost the entire of last year worried about making money in a rather challenging economic environment that was characterised by high interest rates amidst slow economic activities. But they seemed to have shrugged off the effects of the economic times experienced during the year and are now registering growth in profits

  • Bird strikes DANA aircraft during take- off

    April 22, 2017 2:12 AM 18

    Palpable fear gripped over 100 passengers on board a DANA Air MD 83 aircraft on Friday when a huge bird hit the aircraft engine during take-off at the Murtala Muhammed International Airport, Ikeja, Lagos. Sensing danger after the bird hit the aircraft engine, the pilot took the professional decision to discontinue the flight by making an air return

  • Inside Nigeria’s first smartphone assembly plant

    April 21, 2017 5:26 PM 16

    This marks the availabilty of the first in-country produced smartphones for sale in then Nigerian marketplace. The fact that AfriOne range of smartphones are said to be the “first Nigerian-made smartphones”, is true but to a certain extent. The assembly plant located along the Oshodi Expressway of Lagos state assembles smartphones and other devices from imported

  • Nigeria: Buhari Appoints New Heads for FAAN, NCAA, NAMA, REA

    April 21, 2017 2:15 PM 16

    President Muhammadu Buhari has approved the appointment of heads of the aviation industry and a new Board and Executive Management for the Rural Electrification Agency (REA). Those appointed are Engineer Saleh Dunoma as the Managing Director of the Federal Airports Authority of Nigeria (FAAN); Captain Mukhtar Usman, Director-General of Nigerian Civil

  • Air Peace Aircraft Collide At Lagos Airport

    April 21, 2017 5:16 AM 20

    A ground collision of two aircraft belonging to Air Peace has been reported at the Murtala Mohammed Airport in Lagos state. The incident was said to have occurred while one of the aircraft was trying to manoeuver its way out of the apron wing of the local terminal of the airport. This is coming barely 48 hours after an Aero Contractor aircraft was engulfed

  • AMCON seals NMWIL premises over N611.5M debt

    April 21, 2017 1:43 AM 16

    ONITSHA—THE premises of Nigerian Mineral Water Industries Limited, NMWIL, located at No.1 Limica road, Onitsha, Anambra State was yesterday sealed off by the Asset Management Corporation of Nigeria, AMCON, following an order granted to it by the Federal High Court sitting in Awka, the state capital. AMCON had dragged NMWIL to court alleging that NMWIL