BUSINESS NEWS

The Development Bank of Nigeria Plc (DBN), said it has disbursed N482 billion to Micro, Small, and Medium Scale Enterprises in Nigeria since inception. The bank said 65 per cent of the MSMEs were women and youth-owned businesses. While presenting the summary of the financial statement for the year ended 31 December 2021, to the […]

Unarguably, the Federal Government changed the name of the Federal Ministry of Communications to Federal Ministry of Communications and Digital Economy in order to be in tune with global trends and reality. The World Economic Forum (WEF), predicts that by 2022, 60 per cent of the world economy will be digital. Companies need to re-imagine […]

The National Pension Commission on Monday issued a revised regulation on retirement and terminal benefits for immediate implementation. The regulation simplifies some difficulties and guides the process of accessing retirement and terminal benefits by pension contributors and retirees under the Contributory Pension Scheme. This is the first comprehensive review of the regulation since its initial […]

The Nigerian government says it will issue a Request for Qualifications in June for bidders interested in receiving concessions to begin the production of bitumen in the country. Nigeria holds about 42.47 billion tonnes of proven reserves of bitumen, estimated to be the sixth largest in the world, but has not yet exploited the resource, […]

Nigerian stocks were up two per cent last week, reaching a height last seen some fourteen years ago as a great deal of investor’s cash poured into equities. A couple of first quarter financial reports were issued during the week and some came with strong earnings performance, raising hopes that the development could help sustain […]

Bullish sentiments persisted in the equities sector of the Nigerian capital market, yesterday, as almost all the blue-chip companies recorded price appreciation, lifting market capitalisation by N46 billion. The all-share index (ASI) rose by 85.15 points, representing an increase of 0.2 per cent, to close at 48,223.86 points while the overall market capitalisation value gained […]

The Director-General, Bureau of Public Service Reforms (BPSR), Mr Dasuki Arabi, says proper application of emerging technologies will help to increase operational efficiency and reduce cost of governance. Arabi made the observation in a paper he presented at a workshop on block chain technology ecosystem, on Thursday in Abuja. The paper is titled: “Public sector […]

No fewer than 150 underprivileged women were empowered to start up drink distribution business on Wednesday in Owerri by the Guinness Empowerment programme. The women were trained on business management strategies for profitability and assigned supervising sales officers to guide them in the businesses. Speaking at the programme, the Corporate Relations Director of Guinness Nigeria […]

The African Development Bank (AfDB) says it will within the next five years double the climate change finance of Africa to 25 billion dollars. Dr Kevin Kariuki, AfDB Vice-President for Power, Energy, Climate and Green Growth, said this at a virtual news conference on Wednesday in preparation for the bank’s 2022 annual meetings to be […]

The Naira exchanged at 418.33 to the dollar at the Investors and Exporters window on Wednesday, representing a 0.32 per cent depreciation, compared to 417 naira to the dollar recorded on Tuesday. The open indicative rate closed at 418.25 naira to the dollar on Wednesday. An exchange rate of 444 naira to the dollar was […]