The World Bank has advised the Federal Government that to reap the benefits of the bold reforms and difficult but necessary economic adjustments currently being implemented by it, it is essential for it to sustain and fully implement the reforms and take complementary actions. The development finance institution in its December 2023 edition of the […]
Revenue
OPEC Could Maintain $80/B Oil Price In 2024 – Citigroup
Latest oil market analysis research findings by the Citigroup Inc, has predicted that oil prices could range between $70 to $80 per barrel in 2024. The Group, in the report, pointed out that to balance the oil market, the Organization of Petroleum Exporting Countries, OPEC+ will need to maintain its latest oil production cuts throughout […]
FG Mulls Sale Of 40% Stake In Discos, Others
….Targets N298.4Bn Revenue The Bureau of Public Enterprises (BPE) on Tuesday hinted of its intention to sell remaining 40% shares of the Federal Government in electricity distribution companies (DisCos) and offer for listing other enterprises on the capital market in 2024. The Director-General of the Bureau Mr Alex Okoh, who made this disclosure this […]
TAJBank Earns Highest Credit Ratings In NIB Sector
TAJBank Limited, Nigeria’s leading non-interest banking services provider, has again set a record with Bbb+ rating by the foremost rating agency – Agusto & Co -, thereby making the fast-growing non-interest lender the best rated in the nation’s Non-Interest Banking (NIB) space. The latest rating, which is a notch up from the Bank’s previous rating, […]
CAC May Delist 91,000 Firms Over Annual Returns Filing Default
The Corporate Affairs Commission (CAC) has stated that it would delist 91,843 companies from its registry following their failure to file their annual returns as and when due in line with regulatory requirements. The current list of the affected entities, published on the commission’s website, showed a reduction of 2,738 companies from the initial 94,581 […]
BudgIT Identifies N3.42Trn Discrepancy In 2024 Appropriation Bill
BudgIT, one of the frontiline civic society organisations promoting transparency, accountability and effective service delivery in Nigeria, has raised some concerns over the proposed 2024 Appropriation Bill now before the National Assembly. In a statement issued by the organization on its observations in the fiscal document, it lamented that the President Bola Tinubu’s administration had […]
World Bank To Partner FG On Mining Sector Devt
The Nigerian government is exploring collaborative arrangements with the World Bank to increase financing and technical support for the development of the nation’s mining sector. Speaking during a courtesy visit to the minister, Dele Alake, on Monday, World Bank Country Director for Nigeria, Shubham Chaudhuri, expressed satisfaction with the renewed focus on development of the […]
FG Unveils Plan To Unbundle TCN For Improved Electricity
The Federal Government has hinted of its plans to unbundle the Transmission Company of Nigeria (TCN) as part of its sustained reform efforts in the power sector to boost electricity supply nationwide. The disclosure, which was made a day after the collapse of the power grid for the second time this year, indicated that the […]
Nigeria Records 127 Crude Oil Thefts In 7 Days
The Nigerian National Petroleum Company Limited (NNPCL) reported on Tuesday that 127 crude oil thefts were recorded in the nation’s hydrocarbon resources industry within seven days. The state-owned oil company, in its weekly report on the “War On Crude Oil Theft”, disclosed that it uncovered 51 illegal refineries, 29 illegal connections and discovered eight vessels […]
NSIA Handover Second Niger Bridge To FG
The Nigeria Sovereign Investment Authority (NSIA) has announced the formal handover of the Second Niger Bridge to the Federal Government following its completion. The Second Niger Bridge, linking South-Eastern Nigeria to other regions, was implemented through the Presidential Infrastructure Development Fund (PIDF), with NSIA acting as both Fund and Project Manager. The scope of the […]