Business News Report

COVID 19: DICON Produces Low Cost Ventilators, PPEs and High Quality Sanitisers to curtail Pandemic.

The Defence Industries Corporation of Nigeria, DICON has produced a low cost mechanical ventilator ‘DICOVENT’, capable of using electricity and rechargeable batteries to help in treatment...

US restaurant industry asks Congress for $240bn in federal aid to survive coronavirus

The leading restaurant lobby on Monday asked Congress for $240 billion in federal aid, saying the industry has suffered more than any other and needs a...

Banking stocks drag Nigerian Stock market performance… ASI down 0.01%

Trading activities on the local bourse resumed the week negative with a 1bp marginal decline in the All-Share Index  to close at 22,920.41 points, due to sell...

Nigeria to lose $160m non oil export of cocoa, cashew, Sesame seeds to COVID-19

Indications are that Nigeria will lose over $160 million from cocoa and cashew exports in 2020. Non oil exports such as Cocoa, Sesame and Cashew are...

Crude oil price sinks to $5 as coronavirus hits global economy

Oil prices have plunged further below $5 a barrel with the threat to erase decade of demand growth with thousands of jobs under threat as coronavirus...

NIMASA, Navy set to improve information sharing …C4i, falcon eye connection imminent

The Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigeria Navy are set for a regime of improved information sharing as arrangements to integrate the...

PENGASSAN suspends industrial action, Exxon Mobil donates bags of gari to host community

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has suspended its planned industrial action after 21 Exxon Mobil Corporation employees quarantined last week...

COVID-19 – SON inspects face masks factory in Cross River for quality

Standard Organisation of Nigeria SON has said that in furtherance of National efforts at tackling the coronavirus pandemic in Nigeria, it has undertaken a quality assurance...

 African Development Bank denies claims it plans to provide financial support to East African Crude Oil Pipeline Project

African Development Bank has denied claims that the institution plans to provide financial support to the East African Crude Oil Pipeline Project. The Bank in a...

LCCI tasks NNPC on legal backing for reforms in petroleum downstream sector

Lagos Chamber of Commerce and Industry (LCCI) has tasked the Nigerian National Petroleum Corporation (NNPC) on legal backing to consummate its process of reforming the petroleum...

South African Airways to layoff 5,000, offers severance packages to all staff

South African Airways (SAA) is offering severance packages to its entire workforce of around 5,000 workers, a proposal by the airline’s administrators showed, after the government...

List of Contributors to the CACOVID Relief Fund As At Friday, April 17, 2020

IMF/WB Development Committee backs G20 debt service suspension initiative, Nigeria makes case for IDA

Minister of finance Zainab Ahmed said a debt relief agreement reached at the ongoing IMF/World Bank Group virtual Spring Meetings to help the world’s poorest countries...

“We expect COVID-19-related projects in 100 countries by end of April— David Malpass

World Bank Group President David Malpasshas said that the multilateral institution expects to have COVID-19 projects in 100 countries before the end of April 2020. Delivering...

COVID-19: NIMASA extends certificate validity for seafarers, move geared towards keeping them in job – Jamoh

The Nigerian Maritime Administration and Safety Agency (NIMASA) has extended the validity of Statutory and Trading certificates for all Nigerian Registered vessels. These include Standards of...