Lagos State is expecting to receive its first payment of derivation fund as an oil producing state next month.The payment will be on account of exports from the offshore Aje oil fields. This was disclosed...

The Federal Government led by President Muhammadu Buhari has made a proposal to bring the regulatory bodies of the nation’s oil sector under one umbrella to be called the Petroleum Regulatory Commission,...

Nigeria’s Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has revealed the Federal Government’s intention to review the nation’s fuel price template. He said the essence of the review...

Minister for Information and Culture, Alhaji Lai Mohammed has disclosed that President Muhammadu Buhari will make another attempt to get the Senate to approve his request for a $29.96 billion loan from...

Africa’s richest man, Aliko Dangote, has said that more than 100 million Nigerians, a staggering 53.5% of the country’s population is living in poverty. The billionaire presenting a paper titled:...

As part of the sweeping administrative changes embarked upon by the Federal Government at the Federal Airports Authority of Nigeria, FAAN, two new directors have been appointed. They are Mrs. Nike Aboderin...

Former Nigerian President, Olusegun Obasanjo has bared his mind on the state of the economy of the nation. Obasanjo, speaking at the World Pension Summit in Abuja, said that he had warned the past state...

Nigeria’s Finance Minister, Mrs Kemi Adeosun speaking at an interview in Abuja has admitted that she cannot tell when the country will be out of a recession. “I don’t want to predict when we will...

  The recent Nigerian Federal Government  restrictions on importation of automobiles may have proved counter productive after all. Lamenting the ugly situation of the nation’s economy, Mr. Jonathan...

Nigeria’s Minister of Aviation, Hadi Sirika has said that the Federal Government will go ahead with its plan to concede the Lagos, Abuja, Kano and Port-Harcourt International Airports to improve...

Aviation giant, British Airways is currently having difficulty in tackling a computer system failure that has caused passengers worldwide to face terrible queues while checking in for their flights. British...

Nigerian President, Muhammadu Buhari may soon submit a bill which seeks to allow him take emergency decisions to revive the economy to the National Assembly. The bill titled ‘Emergency Economic...

There are signs of an uncomfortable development at the Nigerian foreign exchange market. For much of this week, the Central Bank’s intervention promised by its governor, Godwin Emefiele, has not...

 The mention of Alaba International Market conjures images of a hub that is bustling with business and commerce. With a reputation of being one of Nigeria’s most prominent commercial destinations,...

  Outgoing Group Managing Director of the Nigerian National Petroleum Corporation, Ibe Kachikwu has formally handed over to the new GMD, Maikanti Baru. Kachikwu who pledged to give Baru every support...

By Clay Risen, THE NEW YORK TIMES LYNCHBURG, Tenn. — Every year, about 275,000 people tour the Jack Daniel’s distillery here, and as they stroll through its brick buildings nestled in a tree-shaded...

The Central Bank of Nigeria says no bank in the country is distressed and that depositors should not make panic withdrawals from their accounts. In a statement by CBN’s spokesman, Isaac Okorafor,...

Skye Bank Plc appears to be in deep trouble at the moment. Many of their branches in Lagos were today besieged by depositors eager to withdraw their money.  The depositors are scared that the bank may...

There is palpable fear among senior officers of Skye Bank over a report that the Central Bank of Nigeria has sacked its management. People & Power checks indicate a lot of uncertainty at the bank’s...

After German automobile conglomerate, Volkswagen admitted wrongdoing for the installation of software to forge emission readings in their cars, the automaker has agreed to pay $14.7 billion in fines for...