‘Nigeria’s debt on infrastructure, good investment’ – Fashola

The Minister of Power, Works, and Housing, Mr. Babatunde Fashola, has described Nigeria’s debt for infrastructure as a good debt. Fashola, who spoke at the just concluded Africa Investment Forum in Sandton South Africa, said that the Federal Government should not be judged like a private company when it comes to borrowing. He said: “The […]

Experts seek improved private sector investments in infrastructure

Financial analysts at FSDH Research have expressed the need for the Federal Government to involve the private sector to finance the infrastructure gap in Nigeria. Noting that it is estimated that about $100 billion must be invested annually to finance infrastructure development in Nigeria to close the deficit, the analysts stated that the weak revenue generation […]

NNPC records $470m oil, gas export sales in August

The Nigerian National Petroleum Corporation (NNPC) on Wednesday disclosed that its crude oil and gas export sale in August 2018 generated $470 million, indicating an increase of about $78 million when compared to the $391.91million it raked in July. The corporation’s Monthly Financial and Operations Report for August 2018 published by the corporation’s Group General […]

Ribadu urges FG to deploy disruptive techs to fight corruption

A former chairman of the Economic and Financial Crimes Commission (EFCC), Mallam Nuhu Ribadu, has advised the Federal Government to deploy emerging and disruptive technologies to combat corruption in the country. Ribadu, who gave this advice in his keynote address at the opening ceremony of the e-Nigeria conference on Monday in Abuja, pointed out that […]

Natural gas production up 8.8% in July

A total of 230.35 Billion Cubic Feet (BCF) of natural gas was produced in the country in July 2018, averaging a daily production of 7,678.17 Million Standard Cubic Feet (mmscfd), NNPC Monthly Financial and Operations report for July 2018 has stated. The volume represents 8.81 per cent increase compared to the previous month of June […]

Nigeria to resume export of hibiscus to Mexico

The Coordinating Director of the Nigeria Agricultural Quarantine Service (NAQS), Dr. Vincent Isegbe, says Nigeria will soon resume the exportation of hibiscus to Mexico. Isegbe, in a statement signed by the agency’s Head, Media, Communications and Strategy, Dr. C. P. Nwodo, disclosed this when the Mexican Ambassador to Nigeria, Mr. Marco Antonio Garcia Blanco, paid […]

CBN rolls out guidelines for Payment Service Banks

In its bid to enhance access to financial services for low income earners and unbanked Nigerians, the Central Bank of Nigeria (CBN), has come out with guidelines and regulations for Payment System Banks (PSBs) in the country. According to a circular issued to all stakeholders and signed by Director, Financial Policy and Regulatory Department of […]

NNPC, BP seal PMS supply agreement

The Nigerian National Petroleum Corporation (NNPC) on Thursday signed a six-month Direct Sale-Direct Purchase (DSDP) agreement with the British Petroleum’s (BP) trading arm, BP Oil International Ltd, for the supply of Premium Motor Spirit (petrol). This latest agreement will represent 20 percent of NNPC’s total PMS supply under the DSDP arrangement, which basically allows the […]

CBN forex policy on 41 items in Nigeria’s economic interest – Emefiele

The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele says the bank’s decision to restrict access to the foreign exchange official window for the importation of 41 items is in the best interest of the nation’s economy. Emefiele, who made the remarks in his keynote address while declaring open the 26th Seminar of Financial […]

FG plans N8.6trn budget in 2019

The Federal Government has disclosed that it is planning to propose a N8.6 trillion Appropriation Bill to the National Assembly for consideration as 2019 budget. The proposed figure is lower by N508 billion when compared with the N9.1 trillion approved budget for the current fiscal year. Budget and National Planning Minister, Sen. Udoma Udo Udoma, […]