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First solar-powered family car unveiled

The world’s first solar-powered family car that can travel 420 miles on a sunny day and creates twice much energy as it uses has been produced. The car, called Stella, and produced by a team of...

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A’Ibom to reintroduce vessel on Oron-Calabar water route

The Akwa Ibom State government has said it will reintroduce a vessel on the Oron-Calabar water route to curb frequent boat mishaps in the area. The Commissioner for Transport, Mr. Austin Mbeh, who said...

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Spirit Aero swings to loss on $448m charge

Spirit AeroSystems, a key supplier of aircraft components to Boeing, Airbus and other plane makers, said its earnings swung to a loss in the latest quarter due to $448m in cost overruns on several...

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Global airlines refuse to move from Heathrow

Some of the world’s biggest airlines have ruled out moving from London Heathrow to another United Kingdom airport, according to a report in the Financial Times. The report suggests that the decision by...

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CRR: Banks devise strategies to get more deposits

The Bankers Committee on Tuesday endorsed the 50 per cent Cash Reserves Requirement, which was imposed by the Central Bank of Nigeria on public sector funds with banks in the country. The endorsement...

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PSF, not PPPRA owes N4.4bn – NEITI

The Nigeria Extractive Industries Transparency Initiative has absolved the Petroleum Products Pricing Regulatory Agency of responsibility for the N4.423bn debt it claimed arose from over-recovery...

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Active telephone lines drop to 120.3 million

The number of active telephone lines in the country fell to 120,362,218 in June, a decline of 386,536 from the 120,748,754 recorded in May, according to the latest statistics released by the Nigerian...

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LCCI plans anti-bomb measures for trade fair

The Lagos Chamber of Commerce and Industry has said it has evolved anti-bomb and anti-terrorism measures as part of the general security strategy for the 27th Lagos International Trade Fair slated for...

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We didn’t obtain aid from Britain – NASRDA

The Director-General, National Space Research and Development Agency, Prof. Seidu Mohammed, has described the claims by a member of the European Parliament, Mr. Godfrey Bloom, that the Nigerian Space...

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Power firm bidders may not meet payment deadline

The hope of an early completion of the privatisation of the power sector is being threatened by the inability of the Federal Government to settle all outstanding labour issues at the Power Holding...

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We’ll reduce recurrent expenditure to 68.7% —Sambo

Vice-President Namadi Sambo on Tuesday said recurrent expenditure in the 2013 budget would be reduced to 68.7 per cent from the 71.5 per cent recorded last year. He said in Minna, the Niger State...

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Banks’ lending to SMEs drops to 0.14% —CBN

The Central Bank of Nigeria on Thursday said that commercial bank loans to the Micro, Small and Medium Enterprises declined from 7.5 per cent in 2003 to only about 0.14 per cent in 2012. It also said...

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UK in new monetary policy gamble – Report

Whatever you think about the pros and cons of “forward guidance”, you can’t really deny that this is a landmark moment in the United Kingdom monetary policy, according to the Sky News Economics Editor,...

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Niger Delta environmental clean-up to cost $1tn –Kuku

It has been  the cost of restoring the Niger Delta environment to its original state before oil theft left it devastated at over $1tn. The Special Adviser to the President on the Niger Delta and...

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Bakassi residents to pay tax under Cameroon sovereignty

Cameroon has formally taken full sovereignty of the oil-rich Bakassi peninsula, ceded by Nigeria in 2008. The territory was handed over after an International Court of Justice ruling, ending years of...

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China Mobile profits up despite stiff competition

China Mobile, the world’s biggest phone company, has said profits rose more than expected in the first half of 2013 from last year . The British Broadcasting Corporation reported that the profits rose...

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Renaissance Credit opens new branch in Lagos

Barely two months after obtaining a state license, Renaissance Credit Nigeria Limited, has established its second outlet at the Opebi area of Lagos state. A statement said the move was in line with the...

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Stakeholders seek PPP in health insurance schemes

There have been renewed calls for increased collaboration of the Public Private Partnership in promoting health care insurance schemes in the country. Stakeholders in the finance, industrial and oil...

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Wema Bank gets approval for N40bn recapitalisation plan

Wema Bank Plc on Friday got the approval of its shareholders to raise an additional capital of N40bn. The shareholders approved the proposal during the bank’s Annual General Meeting in Lagos. The...

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Okonjo-Iweala, Johnson lead NSE’s listing drive

The Federal Government has intensified efforts to get more companies, especially those in the telecoms and oil and gas sectors, listed on the Nigerian Stock Exchange. The Coordinating Minister of the...

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