Business

Traders in Ondo state have attributed the scarcity of a household food ingredient, Onions, to incessant flooding in the northerner part of the country.According to them, the flood washed away most of the crops which has translated to the high cost of available crops.The price of household food items has recorded tremendous spike in recent […]

“We’ve stopped all business transactions with Huawei and its 68 group companies… that are subject to the US government ban,” Panasonic spokesman Joe Flynn told AFP. “Yesterday an internal instruction to fully enforce that rule was issued,” he added. Flynn said Panasonic’s business with Huawei involves the supply of “electronic parts,” but declined to provide […]

The quantum of investment in the Nigerian economy by Chinese companies has hit $20bn, the President, China Chambers of Commerce in Nigeria, Mr Ye Shuijin, has disclosed. He explained that the 160 Chinese firms operating in the country had also employed over 200,000 Nigerians, noting that the companies were promoting what he called the ‘people […]

The nation’s electricity generation plunged to 2,616.7 megawatts on Tuesday, a day after heavy rainfall in Lagos damaged some power facilities and worsened supply in parts of the state. Total power generation declined to 3,978.5MW as of 6.00am on Monday from 4,297MW on Sunday, according to data from the Nigeria Electricity System Operator, an arm […]

The ongoing reconstruction work on section 1 of the Lagos-Ibadan Expressway has progressed up to 40 per cent, the Federal Controller of Works, Lagos, Mr Adedamola Kuti, has said. The completion date of section 1, also known as the Sagamu-Lagos end of the Lagos-Ibadan Expressway project, was last year reviewed up to 2021 to accommodate […]

Investors in the equities market have recorded losses amounting to N352bn following an eight-day losing streak witnessed on the Nigerian Stock Exchange. The market capitalisation of equities listed on the NSE, which rose to N10.979tn on May 3 drop below the N11tn mark, has dropped consistently, closing at N10.627tn on Wednesday. Wapic Insurance, Forte Oil […]

Nigeria supplies about 80 per cent of the total quantum of electricity consumed in the Republic of Benin but power is more stable in the neighbouring country than it is in Nigeria, the Transmission Company of Nigeria has said. Aside from the Republic of Benin, Nigeria, through the TCN, supplies power to the Republics of […]

Financial and economic experts have demanded an independent audit of the Central Bank of Nigeria following the alleged missing of N500bn. They made this call while speaking in exclusive interviews with our correspondents. The Director-General, Nigeria Employers’ Consultative Association, Mr Timothy Olawale, said despite the denial of the CBN that no N500bn was missing, there […]

The Managing Director and Chief Executive Officer, Financial Derivatives Company Limited, Mr Bismarck Rewane, has said fuel subsidies are a huge drain on government’s revenue. Rewane stated this in his presentation at the Lagos Business School Breakfast Session on May 8, a copy of which was obtained by our correspondent on Tuesday. He noted that […]

The Nigerian Stock Exchange has delisted Newrest ASL Nigeria Plc from its daily official list. The NSE, in a notice to investors dated May 13, 2019, said the entire issued share capital of the company was delisted from the daily official list of the Exchange on Monday, further to the market bulletin of February 27, […]


CREST 88.7 FM

Always at its Peak

Current track
TITLE
ARTIST

Background