Rotimi Amaechi, Minister of Transportation, has called for fast track on the Lagos-Ibadan standard gauge rail line. The minister pointed out that two bridges will be demolished in the Lagos axis to accommodate the ongoing construction. Amaechi made the call during inspection of the on-going work at Ewekoro area of Ogun State.

Mobile operator MTN is focused on laying the groundwork for an initial public offering (IPO) of its Nigerian business and should complete the process in the next six months, says chief executive Rob Shuter.

“We have a lot of advisers running around getting everything ready,” he said in an interview yesterday. “It’s a complicated process and there’s a lot of regulation that needs to be arranged. We are moving forward well with the project and anticipate concluding that in the next six months or so.”

Nigeria’s Forex reserves have appreciated by 1.12 billion dollars in the last one month, boosted by a rally in oil prices and a relatively stable foreign exchange market.

Data from the central bank shows an increase in the reserves from 32.74 billion dollars in October to 33.86 billion dollars as at November the 1st.

Transactions on the Nigerian Stock Exchange (NSE) recorded a profit for the third consecutive day and may hit N13 trillion on sustained gains.

The market had hit the N13 trillion mark in August, the first time since 2014.

The Minister of Finance, Kemi Adeosun has said that the government has identified over 800,000 tax defaulters including its contractors, saying the government is currently carrying out an audit of defaulting companies.

The Central Bank of Nigeria (CBN), on Tuesday injected another $195 million into the interbank foreign exchange market.

The central bank offered the sum of $100 million to the wholesale window and intervened in the small and medium enterprises (SMEs) segment with $50 million. The invisibles segment, comprising tuition, medical payments and Basic Travel Allowance received $45 million.

Oil prices hit their highest levels early on Monday as markets tightened, while Saudi Arabia’s crown prince cemented his power over the weekend through an anti-corruption crackdown that included high profile arrests. Brent futures, the international benchmark for oil prices, hit 62.44 dollars per barrel early on Monday, their highest level for years now.

The Group Managing Director, Nigerian National Petroleum Corporation, Maikanti Baru, on Tuesday announced that the aggressive exploration of the inland basins would soon yield result with hydrocarbon finds in commercial quantities.

Baru stated this when he received a delegation from the Nigerian Association of Petroleum Explorationists, led by its President, Mr. Abiodun Adesanya, in Abuja.

The minister of state for aviation, Hadi Sirika, has disclosed that Emirates Airline will resume its flight operations to Abuja on December 15.

The minister made this known via his Twitter account.

Activities on the Nigerian Stock Exchange (NSE) on Tuesday sustained bullish trend for the second consecutive day, with major equities recording price growth led by Nestle. Nestle recorded the highest price growth with a gain of N22 to close at N1,252 per share just as predicted by market watchers.