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Category: Bizness News

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Toyota Wins Back World’s Top Auto Sales Crown from GM

Toyota Motor Corp regained the crown as the world’s top selling automaker in 2012, posting record-high sales and beating rivals General Motors and Volkswagen.

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Societe Generale Bank Resumes Operations As Heritage Bank

Embattled Societe Generale Bank of Nigeria (SGBN) is set to resume operations under a new name, HeritageBank , following a regional banking licence granted by the...

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Fashola Denies Taking $15m Loan From Ex-IM Bank… Weeks After Seeking $600m From World Bank

It seems Gov. Babatunde Fashola of Lagos State, has no scrupples with burying the state in the cemetry of debt just as  has denied a media report that the state...

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Nigeria spends N3.5trn annually on power generators…N17.9bn on importation of generators

Nigerian manufacturers, small scale businesses and families spend an average of N3.5 trillion yearly to power their generating sets with diesel and petrol due to...

Nigeria's Minister of Petroleum Diezani Allison-Madueke speaks at a media briefing on a new gas price regime in the capital of Abuja

Reps Set to Probe $1.5bn NNPC Loan

The Federal House of Representatives on Wednesday directed its joint Committee on Petroleum (Downstream), Petroleum (Upstream), Justice and Loans and Debts to...

Samsung, LG Unveil Super-thin, Curved Televisions

South Korean consumer device makers Samsung Electronics Co and LG Electronics Inc unveiled curved, super-thin televisions on Tuesday, hoping to become early market...

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Air fares may crash by 33% as Dana, others return

  Indications have emerged that soaring domestic air fares may soon crash by 33 per cent from the present average of N30,000 per hour flight to N20,000 following...

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Nigeria: Cement War – Dangote, WAPCO Hit Back At Ibeto

Nigeria’s cement manufacturers and top economists have chided the Ibeto Cement Company over its resolve to continue to import cement into the country despite the...

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Nigeria issues N75b in bonds, yields inch up

Nigeria sold 75 billion naira ($476.10 million) worth of 5-, 7- and 10-year sovereign bonds maturing in 2017, 2019 and 2022 at an auction on Wednesday, with yields...