Nigeria’s broad money supply surged to an all-time high of N93.72 trillion as of January 2024, representing a 76% surge from the N53.14 trillion recorded in January 2023. Available data from the Central Bank of Nigeria (CBN) on the money in circulation during the month under review showed that the supply also reflected an increase […]
The Federal Government on Thursday announced the ban on exportation of Liquefied Petroleum Gas (LPG) also known as cooking gas, as part of its current efforts to boost domestic supply volume and crash the commodity’s surging price nationwide. The Minister of Petroleum (Gas), Ekperikpe Ekpo, who made this disclosure at the ‘Internal Stakeholders’ workshop with […]
The Federation Account Allocation Committee (FAAC) disclosed on Thursday that it shared a total sum of N1,149.816 billion January 2024 Federation Account Revenue to the Federal Government, States and Local Government Councils. The revenue was shared at the February 2024 meeting of the Federation Accounts Allocation Committee (FAAC) chaired by the Minister of Finance and […]
Africa Finance Corporation (AFC) the continent’s leading instrumental infrastructure solutions provider, today signed an equity investment term sheet at the inaugural AMCE African Health Forum in Abuja, pledging up to US$40 million towards the construction of the African Medical Centre of Excellence (AMCE) Abuja hospital. The 500-bed medical health facility is currently being developed by […]
….To Sell 100 Trucks of Rice at Affordable Prices Ogun State has purchased 100 trucks load of rice to be sold at cheaper rates to residents of the state to cushion the effect of the rise in the prices of goods in the country. The state governor, Prince Dapo Abiodun, disclosed this measure on Wednesday […]
Nigeria’s Gross Domestic Product (GDP) grew by 3.46% (year-on-year) in real terms in the fourth quarter of 2023, lower than the 3.52% recorded in the corresponding quarter of 2022, the National Bureau of Statistics (NBS) reported on Thursday. The Bureau, in its ‘Nigeria Gross Domestic Product Q4 2023’ report published on its website, however, stated […]
Nigeria’s Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, will on May 14-15 this year speak at the Invest in African Energy (IAE) forum scheduled for France to outline investment opportunities in Nigeria’s gas sector, drawing attention to exploration prospects and infrastructure requirements. The IAE 2024 is an exclusive forum designed to facilitate investment […]
Gallagher Re, a reinsurance broker, anticipates a surge in investments in cyber catastrophe bonds in 2024, following the successful launch of Polestar Re Ltd. (Series 2024-1) in December 2023. PoleStar Re was the first full 144A cyber catastrophe bond for specialty re/insurer Beazley. Gallagher Securities’ served as the sole structuring agent and bookrunner, with support […]
….Initiates Moves On Automation Of BDCs The Association of Bureaux De Change Operators of Nigeria (ABCON) has described the ongoing clampdown on and arrest of illegal foreign exchange (FX) dealers across the country as a welcome development capable of improving the efficiency of the FX operations in the parallel and official markets. The National President […]
The National Palm Produce Association of Nigeria (NPPAN) has hinted of plans by the Federal Government to sign a Memorandum of Understanding (MoU) with the Malaysian Government as part of its sustained efforts marking to develop palm biomass in the country. The President of the association, Ambassador Alphonsus Inyang, was quoted as making this disclosure […]