Nigeria has been listed among the 10 economies showing the most notable improvement in the World Bank’s Ease of Doing Business list published on Tuesday . . .
Africa’s leading airline, Ethiopian Airlines, has said that it has submitted a formal offer to take charge of troubled local carrier Arik Air, which accounts for more than half of Nigeria’s air passenger traffic, the CNN has reported . . .
Etisalat Nigeria is reportedly changing its brand name to 9Mobile
Prior to this move, Etisalat International had asked the Nigerian arm of the telecom giant to discontinue the use of Etisalat as the brand name . . .
NNPC and IOCs operating in Nigeria including independent oil companies lifted crude oil and condensate worth over $36.023bn; Nigeria is hiring Oracle and Microsoft as the government invests more to save costs and fight corruption; TCN has disclosed that it is prepared to build two new 330KV substations in Kaduna and Zaria . . .
GE Emerges Sole Bidder for $2bn Nigerian Rail Concession
A consortium led by General Electric (GE) has submitted the only bid for a Nigerian railway concession project worth around $2 billion for two lines connecting northern cities to others in the south, a procurement process adviser said on Wednesday . . .
UBA Grows Profit Before Tax By 32%, Declares 55kobo Per Share Dividend
United Bank for Africa (UBA) Plc, the pan-African financial services group, operating in 19 African countries, has released its audited 2016 full year results, showing significant growth in gross earnings and profits, an attestation to its resilience, enhanced productivity and geographic diversification, evident in the impressive contribution from its African subsidiaries . . .
With a total market capitalisation of N5.65 trillion, Dangote Cement, Nigerian Breweries, Guaranty Trust Bank, Nestle and Zenith Bank made up 64.02 per cent of equities quoted on the Nigerian Stock Exchange (NSE) . . .
NNPC, Schlumberger collaborate on frontier exploration
World’s (French owned) largest oilfield services and equipment company teams up with Nigerian national oil giant on frontier hydrocarbon deposits search in the Chad basin.
FOREX: $1 Goes For N500
Efforts To Save The Naira Have Crumbled – IMF
Abuja & Lagos (New Telegraph) – The naira fell close to N500 against the dollar on the parallel market due to dollar shortages yesterday as Bureaux De Change (BDC) operators set their quotes for dollar purchases at N399/$ for next week, traders said . . .
NNPC targets fuel import cut
Abuja (Daily Times) — The Nigerian National Petroleum Corporation (NNPC) has commenced moves to reduce fuel import by boosting the capacity utilization of the refineries to 60 per cent by the end of 2017 . . .