• Oil price slump: FG further slashes fuel price to N123.50 per litre

    Oil price slump: FG further slashes fuel price to N123.50 per litre0

    The Federal Government, Tuesday, further slashed the price of Premium Motor Spirit, PMS, also known as petrol, to N123.50 per litre, with effect from April 1, 2020, from N125 per litre. The new price, which would last throughout the month of April, was coming on the back of a continuous decline in the price of

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  • COVID-19: Sanwo-Olu orders partial closure of banks

    COVID-19: Sanwo-Olu orders partial closure of banks0

    Lagos State Government, on Tuesday, placed a partial closure on banking activities in the state as part of measures to break the cycle of transmission of coronavirus. Governor Babajide Sanwo-Olu also directed all markets and stores trading in non-essential commodities to close for seven days. The directive takes effect from Thursday, March 26, a statement

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  • Stock market suffers N280bn loss in one week

    Stock market suffers N280bn loss in one week0

    Equity trading on the floor of the Nigerian Stock Exchange closed last week on a negative note amid the spread of the global pandemic, COVID-19, in the country. The NSE All-Share Index and market capitalisation both depreciated by 2.35 per cent to close last week at 22,198.43 basis points and N11.568tn respectively. All other indices

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  • BMW To Shut Down European Factories Over Coronavirus

    BMW To Shut Down European Factories Over Coronavirus0

    German carmaker BMW on Wednesday said it would close European and South African factories accounting for half its output for a month, matching other car giants stricken by coronavirus containment measures. It also warned that profits this year would be significantly lower as a result of the crisis. “From today, we will shut down our

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  • Fire guts Anambra building materials market

    Fire guts Anambra building materials market0

      Fire fighters at the scene of the Anambra market fire Fire in the early hours of Wednesday razed the Building materials market, Ogidi, in the Idemili North Local Government Area of Anambra State. The inferno, it was gathered, began around 4am It was said to have emanated from an articulated vehicle parked inside the

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  • BREAKING: Oil price crashes to $33, loses $11 in hours

    BREAKING: Oil price crashes to $33, loses $11 in hours0

    The international oil benchmark, Brent crude, which stood at $45.72 per barrel on Sunday, has slumped to $33 per barrel. Oil prices suffered an historic collapse overnight after Saudi Arabia shocked the market by launching a price war against onetime ally Russia. Brent, against which Nigeria’s crude is priced, fell by $11.62 to $33.45 as

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