Business articles

Despite improved revenue, Abuja-Kaduna train service still running at a loss – NRC MD

Despite improved revenue, Abuja-Kaduna train service still running at a loss – NRC MD

The Nigerian Railway Corporation (NRC) has disclosed that though its monthly revenue generation from the Abuja-Kaduna train service has improved from N16 million in 2017 to over N80 million in 2018, it is yet to break even as it still spends over N100 million monthly as running cost. Managing Director of the corporation, Mr Fidet

Complete Lagos-Ibadan rail line in 2weeks, Amaechi orders CCECC

The Minister of Transportation, Mr Rotimi Amaechi has directed CCECC, the contractor handling the Lagos-Ibadan rail project, to complete the Iju-Agbado section of the project in two weeks. The minister gave the directive on Thursday while inspecting the ongoing Lagos-Ibadan rail project from Lagos-Abeokuta and Ibadan sections. He wanted the Chinese firm to speed up

Buhari will sign ammended Transport Commission Bill – Bello

President Muhammadu Buhari did not decline assent to the National Transport Commission Bill 2018 but has requested adjustment to the safety regulations section. Executive Secretary, Nigerian Shippers Council (NSC), Mr. Hassan Bello, gave this explanation in a statement made available to the media on Thursday. According to the Executive Secretary, the safety section was added

Buhari commissions 15m-passenger capacity Abuja airport international terminal

President Muhammadu Buhari Thursday commissioned the newly built 15 million-passenger capacity terminal facility at the Nnamdi Azikiwe International Airport, Abuja Buhari, in his keynote address, said that his administration recognises aviation as a catalyst for economic growth and as such will continue to encourage and support the actualisation of projects that will place Nigerian airports

Looming strike: NNPC cautions against panic buying of petrol

The Nigerian National Petroleum Corporation (NNPC) has assured petroleum products consumers across the country not to engage in panic buying as it holds 2.6billion litres of Premium Motor Spirit otherwise called petrol and 90,000 metric tonnes of Dual Purpose Kerosene (Diesel), saying the holding is expected to last 52 days, assuming no single drop of

Oil marketers to shut down ALL loading operations by midnight

The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has directed its members to shut down all loading operations by midnight. The association gave the directive in a statement released on Sunday and signed by Olufemi Adewole, its executive secretary. According to the statement, oil marketers have disengaged their staff due to inability to

African Economic Conference (AEC2018): Moving the Africa Free Trade Area agreement ahead with quick win solutions

A total of 44 African nations signed the landmark African Continental Free Trade agreement earlier this year, with only 12 out of the required 22 countries ratifying the accord, but policy makers say there is time enough – and practical solutions – to move the process ahead. The African Continental Free Trade (AfCFTA) area aims

African countries urged to leverage on their strengths to accelerate drive towards integration

Participants to the 13th African Economic Conference called for African countries to leverage the full range of their strengths and resources to accelerate the region’s drive towards continental integration. Themed “Regional and Continental Integration for Africa’s Development” the 2018 AEC, jointly organized by the United Nations Development Programme, the United Nations Economic Commission for Africa,

SEC launches Green Bond Rules

The Securities and Exchange Commission of Nigeria (SEC) officially launched the Green Bonds Issuance Rules at a ceremony yesterday. Following a series of engagements with stakeholders and Capital Market Operators, the SEC rolled out its rules on Green Bonds on October 12, 2018. The SEC has collaborated on several occasions with the Green Bonds Market

Journalists charged on responsible coverage reporting of the capital market

The role of journalists in the development of the Nigerian capital market has been identified as critical and indispensable. Olisa Egbunike, a journalist, who recently retired from the service of the News Agency of Nigeria (NAN) as Deputy Editor-in Chief, made the observation at the 2018 edition of the Securities and Exchange Commission (SEC) Journalists

SEC e-dividend campaign to berth in South East December 6

In a move to further enlighten investors and the general public on the process and benefits of e-Dividend, multiple subscription, e-processes and other contemporary issues in the Nigerian Capital Market, the Securities and Exchange Commission (SEC), Nigeria through its Port Harcourt Zonal Office will be holding a Town Hall meeting with stakeholders and the general