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NNPC, Daewoo Seal $741Mn Deal For Kaduna Refinery’s Repair

The Nigerian National Petroleum Company Limited (NNPCL) has signed a $741 million maintenance service contract with Daewoo Engineering and Construction Company Limited for a quick fix repair of the moribund Kaduna Refinery and Petrochemical Company (KRPC). A statement by the Nigerian oil company indicated that the signing ceremony was performed on Thursday by the top […]

Banking Budgeting Latest News Oil & Gas Planning & Economic Development Political Economy Revenue Technology Transportation

Nationwide Fuel Crisis Not Caused By Product’s Scarcity – Kyari

The Group Chief Executive Officer of Nigerian National Petroleum Company Limited (NNPCL), Mr. Mele Kyari, on Thursday said that the lingering nationwide fuel scarcity was not connected to unavailability of product but to the challenges in the oil industry’s downstream subsector. Kyari, who made this remark during an interview on the Good Morning Nigeria Programme […]

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Buhari Inaugurates MOFI Board, Sets N100Trn Target

President Muhammadu Buhari has charged the Ministry of Finance Incorporated (MOFI) to grow its assets under management from the current value of N18 trillion to at least N100 trillion in the next 10 years. The president gave the charge at the launch of the new MOFI and inauguration of the Governing Council and Board of […]

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Over 55,000 Farmers Benefit From Support Project So Far – Coordinator

The National Project Coordinator of the Agro-Processing, Productivity Enhancement and Livelihood Improvement Support Project (APPEALS), Alhaji Mohammed Jobdi, on Wednesday disclosed that the project had supported a total of 55, 864 farmers since its implementation nationwide. The Coordinator, who gave these figures during the progress monitoring meeting of the project implementation in Abuja with the […]

Budgeting Investments/Capital Market Latest News Oil & Gas Planning & Economic Development Political Economy Transportation

IPMAN Promises Improved Fuel Supply, Lower Pump Prices

The Independent Marketers Association of Nigeria (IPMAN) has promised fuel users in the country of improved product supply and lower pump prices within the next two weeks. The association’s National Operations Controller, Mr Mike Osatuyi, made this pledge on Wednesday while responding to a question on Arise TV’s Morning Show programme. The marketing chief hinged […]

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Public Service Award Morale Booster For FIRS – Nami

The Executive Chairman of the Federal Inland Revenue Service, Muhammad Nami, has said that the Public Service Person of the Year 2022 award conferred on him by Leadership Newspaper is a morale booster for the revenue agency to do more in furtherance of the fulfillment of its mandate. Nami made this remark during a chat […]

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IMF Raises Nigeria’s GDP Growth Projection To 3.2%

The International Monetary Fund (IMF) has revised upward its 2023 growth projection for Nigeria’s economy to 3.2% from the earlier projected 3.1% growth rate published in its World Economic Outlook Update (WEO) in October last year. The IMF made the latest forecast in its World Economic Outlook Update  published on Tuesday. It reported that the […]

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Nigeria’s Money Supply Rises To N52.14Trn In 2022

The Central Bank of Nigeria (CBN) has reported that the money supply in the country in 2022 rose to an all-time high of N52.14 trillion, despite its sustained measures to reduce the volume. In monetary terms, money supply, which is a function of the level of liquidity in an economy, comprises net foreign assets and […]

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Nigeria’s Public Debt Stock Surges, Hits N44.06Trn In Q3 2022

The National Bureau of Statistics (NBS) reported on Tuesday that Nigeria’s  public debt stock increased to N44.06 trillion (about $101.91 billion) in the third quarter of 2022 from N42.84 trillion ($103.31 billion) in the preceding quarter. The Bureau gave these figures in its ‘Nigerian Domestic and Foreign Debt Report for Q3 2022’ hoisted on its […]