Banking Economy News Extra Investments/Capital Market Latest News Solid Minerals

CBN To Off-Take Nigeria’s Gold At Global Competitive Price – NEXIM Boss

The Managing Director, Nigeria Export-Import Bank (NEXIM Bank), Mr. Abba Bello, has hinted of ongoing arrangements by the Central Bank of Nigeria (CBN) to commence off-taking Nigeria’s gold at international competitive price. The banker, who made this disclosure while speaking on what NEXIM Bank is doing to promote mining during a Mining Master Class of […]

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During A Meeting To Brief President Buhari On The Afreximbank Cooperation With Zamfara State For Solid Mineral Development Put Together By Heritage Bank And PAC, In Sochi, Russia, Weekend

President Muhammadu Buhari (4th right) with Governor of Zamfara State, Bello Muhammad Matawalle (3rd right); Minister of Solid Minerals, Arc. Olamilekan Adegbite (3rd left); President/CEO AfreximBank, Prof. Benedict Oramah (4th left); MD/CEO Heritage Bank Plc, Dr Ifie Sekibo (2nd right); Managing Director, Intra-African Trade Initiative, AfreximBank, Mrs. Kanayo Awani (left); Zamfara State Official, Alhaji Bashir Hadejia (2nd left) and Managing […]

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Senate Passes Ajaokuta Steel Completion Fund Bill

The Senate on Thursday passed the Ajaokuta Steel Company Completion Fund Bill 2018 which the enactment into law will enable government to disburse adequate funds for the completion of the multi-billion Naira steel company. The passage of the Bill was consequent upon the adoption of the motion on the Bill presented by the Senate Leader, […]

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FG Rues Illegal Mining Revenue Losses, Impact On GDP

The Federal Government on Monday lamented the activities of illegal miners in the country and the attendant revenue loss implications for the nation’s sustainable growth. It is estimated that with 80 percent of mining activities being done illegally, Nigeria had been losing billions of naira annually and hampering the sector’s contribution to the Gross Domestic […]

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Solid Minerals Revenue Hits N43.2Bn In 2016 – NEITI

The Nigeria Extractive Industries Transparency Initiative (NEITI), on Tuesday reported that the  solid minerals sector of the economy generated N43.22 billion into the Federation Account in 2016. The transparency agency, in its 2016 audit report of the solid minerals sector, hinted that taxes collected by the Federal Inland Revenue Service (FIRS) accounted for N40.38 billion or 93.43 percent of […]

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PwC Reiterates Commitment To Nigeria’s Mining Sector Growth

PwC Nigeria, an arm of the global leading professional services company PricewaterhouseCoopers (PwC),  has assured its commitment to supporting the Nigerian government to grow the nation’s mining sector in furtherance of the current drive to diversify the economy. The assurance was given by the country Senior Partner, Mr. Uyi Akpata,  in his opening remarks at […]

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Foreign Investors Task Nigerian Banks On Mining Sector Funding

Encouraged by the enormous but untapped opportunities in Nigeria’s solid minerals sector, some foreign investors on Tuesday urged Nigerian banks to provide more credit to the mining sector with a view to opening it up for huge local and foreign investments. The Minister of State, Ministry of Mines and Steel Development, Abubakar Bwari, gave hint […]

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FEC Approves N12.7Bn For Solid Minerals Contract

The Federal Executive Council (FEC) on Wednesday approved N12.7 billion for a contract for the exploration and consultancy on some of its targeted minerals like gold, industrial minerals, earth metals and iron ore. The Minister of State for Mines and Steel Development, Bawa Bwari, confirmed this while speaking with State House correspondents after the cabinet […]