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Manufacturing Index Closed March At 56.7 Points – CBN


The Central Bank of Nigeria said Manufacturing Purchasing Managers’ Index closed March at 56.7 index points as level of business activities in the country continued to increase. The 56.3 index points indicated expansion in the manufacturing sector for the 12th consecutive months, the report by the CBN said. The CBN had reported 56.3 index points in February, down from 57.3 index points in January. The ... Read More »

Becoming Self-Employed With Grasscutter Farming


Nowadays, a lot of Nigerians go to higher institutions for the sole aim of getting paper qualification that make them eligible “to get white-collar jobs” after graduation. This kind of dream is like one learning to become a well-paid slave forever. Even, the so-called jobs being prepared for are in short supply and many times not available. The government, which had traditionally provided jobs, can ... Read More »

Presco Explains Green Energy Investment, Expansion In Edo


As part of its ongoing expansion drive, Presco Plc says its recent investment in green energy will boost its corporate earnings and increase returns to shareholders. The firm has also set aside 15,000 hectares for cultivation in Edo State. The Managing Director, Mr. Felix Nwabuko, in a statement on Tuesday, explained that with the cultivation of over 8,000 hectares in two years, it would take ... Read More »

Shareholders Demand Suspension Of Oando Management Team

Shareholders of Oando Plc on Wednesday staged a peaceful protest in Abuja to demand the suspension of the management team of the company. The shareholders were led on the demonstration by the Coordinator, Proactive Shareholders Association of Nigeria, Mr. Taiwo Oderinde; Chairman, Trusted Shareholders Association of Nigeria, Mr. Muhtar Muhtar; and their Legal Adviser, Mr. Nnodu Okeke. The protest, which commenced at the Unity Fountain ... Read More »

FG, States, Lgs Finally Share N647bn


The Federation Accounts Allocation Committee has resolved the crisis that made it impossible to share the statutory allocation for February on Tuesday to pave the way for the disbursement of funds to the three tiers of government. Tuesday’s meeting of FAAC had ended in deadlock following disagreements on the revenue figures remitted into the Federation Account by the Nigerian National Petroleum Corporation for sharing by ... Read More »

Senate Passes Harmonised PIGB, Seeks Buhari’s Assent


At the plenary on Wednesday, the Senate passed the harmonised version of the Petroleum Industry Governance Bill. The passage followed the adoption of the report by the Conference Committee on the PIGB, which harmonised the versions earlier passed by the Senate and House of Representatives. The harmonised version of the bill seeks to unbundle the Nigerian National Petroleum Corporation and merge its subsidiaries such as ... Read More »

Oil price hits three-week high as glut drops

Shell oil

Global oil benchmark, Brent crude, rose to its highest level so far this month on Tuesday, as tension in the Middle East and the possibility of further falls in Venezuelan output helped offset the negative impact of growing United States’ crude production. Brent, against which Nigeria’s crude oil is priced, increased by $1.75 to $67.80 per barrel as of 5:40pm Nigerian time, while the United ... Read More »

NASENI Inaugurates Technology Centre


The National Agency for Science and Engineering Infrastructure on Tuesday inaugurated its technology orientation centre, which was built at a cost of N354,346,921. It will serve as a resource centre for the promotion of science, technology and innovation development in the country. Speaking at the inauguration, the Minister of Science and Technology, Dr. Ogbonnaya Onu, said the centre would help entrepreneurs, researchers and innovators to ... Read More »

Govt Collected N5tn Revenue In One Year – FRC


Nigeria’s federally collected revenues for 2016 amounted to N5.04tn, the Fiscal Responsibility Commission has said. The FRC, which stated this in its analysis of the 2016 budget performance, also indicated that a total of N242.72bn was paid into the Excess Crude Account within the year, while a total of N85.17bn was withdrawn from the account and shared between the federal and state governments. In a ... Read More »

36 Stocks Slide, Cadbury, Niger Insurance, Unity Bank Top Losers


The Nigerian equities market started the week in a loss after 36 stocks trended southwards. Cadbury Nigeria Plc, Niger Insurance Company Plc and Unity Bank Plc emerged as the worst-performing stocks, shedding 9.6 per cent, 9.5 per cent and 8.9 per cent, respectively. A total of 327.759 million shares valued at N5.259bn exchanged hands in 5,366 deals. The market, thus, maintained a downward trend from ... Read More »

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