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 […]
President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has disclosed that Africa accounts for just three percent of the total $25.3 trillion global trade with most of the economies highly vulnerable to commodity price volatility. Adesina, who made remark while speaking on sustainable trade and energy mix at the Sustainable Trade Africa Conference […]
…..Proposes N4.5Bn Allocation To Firm In 2024 Fiscal Year The Minister of Steel Development, Shuaibu Audu, has initiated moves to source N35 billion from financial institutions to revive the moribund Ajaokuta Steel Company. Audu, in a statement on the latest funding move by the government issued by the ministry’s Chief Information Officer, Tine-Iulun Maureen, was […]
The Minister of Solid Minerals Development, Mr Dele Alake, on Tuesday urged foreign investors to take advantage of low cost of production in Nigeria’s mining sector and invest in it for huge returns. Alake, in a speech delivered at the Mines and Money Conference held in London, said the President Bola Tinubu-led administration was currently […]
President Bola Tinubu on Wednesday presented an Appropriation Bill of N27.5 trillion for fiscal 2024 to the National Assembly for passage. Presenting the proposed budget tagged “Budget of Renewed Hope” to the joint session of the National Assembly, the President explained that the key thrusts of the fiscal proposal were national defence, internal security, job […]
The Federal Government on Tuesday announced the revocation of 1,633 mining licenses due to default in payment of stipulated service fees by operators. The Minister of Solid Minerals Development, Dr. Dele Alake, who made the announcement during a press conference in his office in Abuja, explained that the revocation becomes imperative following the expiration of […]
….As PMI Dips To 49.1% In October Economists at CAPE Economic Research and Consulting firm have predicted that in the medium-term Nigeria’s economic output growth (Gross Domestic Product) growth rate would moderate to 1.73 percent in the 5rd quarter and dipped further by 0.02 percentage points to 1.54 percent in Q4 this year. The experts, […]
….Sends Bill To Appropriation Committee For Action In line with President Bola Tinubu’s plea in a letter on the 2023 Supplementary Budget sent to the Senate on Wednesday, the lawmakers in the Red Chamber swiftly passed the N2.18 trillion supplementary budget for the 2023 fiscal year through . The supplementary budget bill, which was […]
President Bola Tinubu on Wednesday sought the Senate’s processing of a loan facility of $7,864,508,559 and €100 million earlier requested during the immediate past Muhammadu Buhari-led administration under the 2022 – 2024 external borrowing plan. The President conveyed the request to the Red Chamber of the National Assembly through a letter he addressed to the […]
The Federal Executive Council (FEC) on Monday approved the submission of a supplementary budget of over N2.1 trillion to the National Assembly for the fiscal year 2023 amid rising public governance expenditure obligations. The FEC approved the N2.176 trillion for presentation to the Legislature during its weekly meeting presided over by President Bola Tinubu. The […]