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  • EU launches €44bn Economic Development Fund for African countries

    The European Union (EU) yesterday, announced that it has launched a €44 billion Africa economic development fund aimed at helping Nigeria and other African countries drive economic growth and development. The Vice President, EU, Digital Single Market,...

    • Posted February 5, 2017
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  • FG to refund money state governments invested on federal roads

    Minister of Power,Works and Housing, Mr. Babatunde Fashola says the Federal Government hopes to raise bonds to refund billions of naira used by state governments to repair federal roads. Fashola made this known in Enugu on Saturday,...

    • Posted February 5, 2017
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  • NNPC introduces additional criteria for selection of firms for crude swaps

    Oil companies bidding for 2017 oil-for-products deals, otherwise known as crude oil swaps or Direct-Sales-Direct-Purchases (DSDP), would have to meet additional criteria, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanthi Baru has...

    • Posted February 4, 2017
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  • Why illegal refineries thrive in Nigeria – Dogara

    Speaker of the House of Representatives Yakubu Dogara has said that illegal refineries in Nigeria thrive because of certain malfeasances in the society. Speaking while declaring open an investigative hearing of the ad hoc committee on the...

    • Posted February 4, 2017
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  • FG begins certification of Lagos, Abuja airports

    The Federal Government has begun the process of certifying the Murtala Mohammed International Airport (MMIA), Lagos and Nnamdi Azikiwe International Airport (NAIA), Abuja. Many experts have been expressing concern over non-certification of any of the Nigerian airports....

    • Posted February 4, 2017
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  • We will not use Kaduna Airport – Lufthansa

    Lufthansa, German carrier, has ruled out the option of flying to Kaduna airport during the closure of the Nnamdi Azikwe international airport in March. Despite criticisms from different quarters, the federal government has insisted on closing the...

    • Posted February 4, 2017
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  • Market remains bearish as investors react to weak corporate earnings

    The stock market opened February on a bearish note yesterday as investors’ sentiments remained dampened by weak corporate earnings by some companies. The Nigerian Stock Exchange (NSE) All-Share Index fell by 0.51 per cent to close at...

    • Posted February 3, 2017
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  • CBN reads riot act on transaction settlement

    The Central Bank of Nigeria (CBN) yesterday warned that any authorised dealer that defaults in the settlement of any auction or 2-way quote with the CBN in the financial market would be duly punished. The punishment includes...

    • Posted February 3, 2017
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  • Adeosun, Amaechi, Ogbeh on FG’s committee to force down food prices

    Acting President Yemi Osinbajo has set up a task force to work out a way of reducing the prices of foodstuff. On the task force are Kemi Adeosun, finance minister; Chibuike Amaechi, transport minister; Audu Ogbeh, agriculture...

    • Posted February 3, 2017
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  • FG to increase VAT on champagne, other luxury items

    The federal government plans to raise the value-added tax (VAT) on luxury times — subject to the approval of the national assembly. Briefing the media after the federal executive council meeting on Wednesday, finance minister Kemi Adeosun...

    • Posted February 3, 2017
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  • FG plans to issue $300m Diaspora Bond by June

    The federal government plans to raise $300 million by selling a diaspora bond targeting Nigerians living abroad, one of the book runners on the deal, First Bank told Reuters on Tuesday. The bond, which will have a...

    • Posted February 2, 2017
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  • Nigeria’s manufacturing index declines in January

    The Manufacturing Purchasing Managers’ Index (PMI) stood at 48.2 index points in January 2017, indicating a decline in the manufacturing sector during the review period. The index averaged 45.2 in the last twelve months, and had grown...

    • Posted February 2, 2017
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  • Foreign investors can now get Nigerian visa in 48 hours – FG

    Okechukwu Enelamah, the minister of industry, trade and investment, says anyone interested in doing business in Nigeria can now get a visa in 48 hours. The minister said the federal government had issued a directive to this effect,...

    • Posted February 2, 2017
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  • China’s $1.5bn loan ready – Amaechi

    Rotimi Amaechi, the minister of transportation, has urged the national assembly to approve the federal government’s borrowing plan so as to begin the construction of rail projects in the country. The minister said the China Exim Bank was ready...

    • Posted February 2, 2017
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