Home Business

Category: <span>Business</span>

Post
Petrol subsidy may gulp N2tn this year –Rainoil boss

Petrol subsidy may gulp N2tn this year –Rainoil boss

Nigeria may end up spending N2tn on petrol subsidy this year if the current situation persists, the Group Managing Director, Rainoil Limited, Dr Gabriel Ogbechie, has said. Ogbechie said this on Sunday at the Nigeria History Series of the Centre for Values in Leadership, themed ‘Indigenous participation in the downstream oil and gas sector’ moderated...

Post
MTN Nigeria grows profit by 54% despite subscriber loss

MTN Nigeria grows profit by 54% despite subscriber loss

MTN Nigeria Communications Plc has announced that its profit before tax jumped by 54.01 per cent to N215.12bn in the first half of this year, compared to the corresponding period in 2020, despite a reduction in its mobile subscriber base. MTN disclosed on Friday that its mobile subscribers declined by 7.6 million to 68.9 million...

Post
CBN directs banks to create mobile app for forex following ban on sales of forex to Bureau de Change operators

CBN directs banks to create mobile app for forex following ban on sales of forex to Bureau de Change operators

The Central Bank of Nigeria has directed Deposit Monetary Banks (DMBs) in Nigeria to create mobile applications and alert systems to update customers of their foreign exchange movement. This comes after the CBN banned sales of forex to Bureau de Change operators and directed DMBs to establish teller points to fulfill legitimate forex requests from customers. The...

Post
Enugu Airport resumes IT’S international  flight activities 

Enugu Airport resumes IT’S international  flight activities 

There are indications that the Akanu Ibiam International Airport, Enugu will  resumes its international flights activities today july 29 This was announced by the Chairman, House Committee on Aviation, Nnolim Nnaji, during the 25th annual conference of the League of Airport and Aviation Correspondents (LAAC), held in Lagos on Wednesday, July, 28, said all the...

Post
N30bn maize lost to insecurity in 2020, farmers claim

N30bn maize lost to insecurity in 2020, farmers claim

To mitigate attacks while cultivating crops on their farmlands, farmers have resolved to work in groups of 100, 200 or 300 persons, it was learnt on Tuesday. It was also gathered that operators in the maize value chain lost about 10 million metric tonnes of maize worth N30bn due to insecurity in the last planting...

Post
Beans, tomatoes, rice record 253%, 123%, 51% price hike

Beans, tomatoes, rice record 253%, 123%, 51% price hike

•Farmers decry worsening insecurity, FG promises intervention The cost of food items in Nigeria has been recording significant increases in the past one year. A survey carried out by our correspondents in markets across Lagos, Ogun and Federal Capital Territory showed that staple food commodities have witnessed astronomical price hikes. Findings showed that within a...

Post
Cooking gas price soars to N500/kg, retailers, consumers lament

Cooking gas price soars to N500/kg, retailers, consumers lament

The price of Liquefied Petroleum Gas, also known as cooking gas, has skyrocketed to a record high of N500 per kilogramme, forcing some Nigerians to turn to alternatives such as charcoal, kerosene and firewood amid high unemployment and poverty levels in the country. The price of cooking gas has risen by more than 60 per...