With scores of investors exploring the nation’s downstream market for opportunities, Nigeria will end refined petroleum products next year and join global exporters to compete in the market, especially in the sub-Saharan Africa market, industry analysts have projected. Apart from the 650,000 barrel-a-day Aliko Dangote’s refinery project which is being fast-tracked to commence production by […]
The nation’s foreign exchange reserves fell month-on-month by $1.609 billion to ebb at $44.380 billion in September, down from the $45.989 billion gross earnings in the corresponding date of August this year. The latest data on the nation’s Foreign Reserves position from the Central Bank of Nigeria showed that the gross and liquid foreign reserves […]
The Nigerian-American Chamber of Commerce (NACC) and FootPrint to Africa, an investment-oriented company, on Friday announced their joint efforts to attract investments into Nigeria’s agriculture, power and the mining sectors. The Communication Manager of the chamber, Ebuka Ugochukwu, in a statement issued on the partnership indicated that the initiative between the NACC and the company […]
The Bureau of Public Enterprises (BPE) has clarified that contrary to its earlier information that seven companies submitted bids for Afam Power Company,12 firms actually did. It also confirmed that seven indicated interest to buy the Yola Electricity Distribution Company (YEDC) at the close of the submission of bids for the Expression of Interest (EOIs) […]
Leading oil marketers in the country under the aegis of Major Oil Marketers Association of Nigeria (MOMAN) have appealed to the Federal Government to accelerate the payment of over N650 billion subsidy arrears owed them to enable them meet their loan repayment obligations to their banks. Members of the association comprise, the Independent Petroleum Marketers […]
The Executive Secretary of the Lagos State Employment Trust Fund (LSETF), Mr. Akintunde Oyebode, has disclosed that at least 8000 Micro, Small and Medium Enterprises (MSMEs) and allied businesses accessed approximately N6 billion since the establishment of the Fund in 2016. In addition, the SMEs management expert said that about 15,000 jobs hadbeen created by […]
The Manufacturers Association of Nigeria (MAN), has urged the Joint Tax Board (JTB) to facilitate the take off of the implementation of the harmonised taxes and levies with a view to ensuring compliance by states and local governments. The Director-General of the association, Mr. Joseph Ajayi-Kadri, made the appeal at the 46th Annual General Meeting […]
Despite last minutes efforts by the Federal Government to avert a national industrial action by seeking to parley with leaders of the organized labour today, workers in the country have said that their plan to embark on strike effective Thursday remained irreversible. The President of the Nigeria Labour Congress (NLC), Comrade Ayuba Wabba, on Wednesday […]
The World Bank has finalized arrangements with the Federal Government to invest $123.5 million in the exploration of industrial minerals in the country. A consultant at the Breton Woods institution, Vitor Carrieia, gave this hint on Tuesday in Abuja while unveiling the Industrial Minerals Roadmap that will guide the planned investments in the sub-sector of […]
The Central Bank of Nigeria on Tuesday warned that weak economic fundamentals, particularly low industrial output and rising unemployment rate, could reverse the growth trajectory of the nation’s economy and if not properly managed, plunged it into another recessionary era. The apex bank governor, Godwin Emefiele, who gave the warning after the two-day meeting of […]