Business

The Manufacturers Association of Nigeria told President Muhammadu Buhari on Wednesday that the country’s economy remained “fragile”, much as it appreciated his commitment to perform better in his second term in office. “It is clear that our economy is still fragile,” the President of MAN, Mansur Ahmed, said when the …

West African finance ministers and central bank governors agreed on technical issues surrounding the creation of a single currency for the Economic Community of West African States next year. “At a ministerial level, we’ve established a roadmap” for the establishment of a new currency, Ivory Coast Finance Minister Adama Kone …

The Lagos State Government has shut the road from Mile 2 to Tincan Island Port, in the Apapa area of the state. The road was shut to motorists on Monday, June 17, 2019, and the closure would last for 48 hours, a statement said on Monday. The Permanent Secretary, Ministry …

A total of nine auto manufacturing companies are currently assembling vehicles in Nigeria, the Director-General, National Automotive Design and Development Council, Jelani Aliyu, has said. He also said the Automotive Industry Development Bill, which was passed by the eighth National Assembly, was awaiting the assent of President Muhammadu Buhari. The …

Vehicular movement on the Ife-Ibadan Expressway was noticeably light on Friday and Saturday, a development attributed to the incessant attacks by armed bandits on commuters and motorists on the highway. Going from Osogbo to Ikire on Friday, reporters observed fewer vehicles on the ever-busy road which connects the South-West region …

A global ratings agency, Fitch Ratings, has said Nigeria will continue to experience a sluggish recovery, driven by the rebound in oil prices and the expansion of services. Fitch predicted that the country’s GDP growth would average 2.2 per cent in 2019-2020, below its previous 10-year average of 4.2 per …

Eighteen states in Nigeria will benefit from the Rural Access and Mobility Project (RAMP), a Word Bank Programme in Nigeria by 2020. The National Coordinator of the programme, Ubandoma Ularamu, made the disclosure on Monday at the Bid Opening of Second Phase of RAMP-2 held in Yola, the Adamawa State …

The Federal Government has revoked the oil block licences of five companies, including a firm founded by late Chief Moshood Abiola. The Department of Petroleum Resources, in a public notice on Thursday, indicated that the licences were revoked as a result of legacy debts owed the federation by the affected …

American leading commercial plane manufacturer, Boeing, has hinted of a possible return of embattled Boeing 737 Max plane model to flight services before the year ends. Boeing’s Chief Executive Officer (CEO), Dennis Muilenburg, said they are conducting simulated flights with air-safety regulators this week, and plans to fly the 737 …

Workers of the Securities and Exchange Commission under the aegis of the Association of Senior Civil Servants of Nigeria, SEC Branch, on Tuesday rejected the judgement of the court reinstating the suspended Director-General, Mounir Gwarzo. The workers shut the premises of the commission and paralysed business activities on Monday morning …