Business and Economy

The Debt Management Office (DMO) has said that Nigeria is implementing policies aimed at increasing revenues as well as developing infrastructure through Public Private Partnership (PPP) arrangements, both to improve debt sustainability. Reacting to the International Monetary Fund (IMF) and Agusto and Co.’s position that Nigeria’s debt sustainability was causing great …

By Kadiri Abdulrahman Abuja, Feb.  11, 2022 The Debt Management Office (DMO) on Friday offered for auction, two separate Federal Government of Nigeria (FGN) bonds at N75 billion each. The DMO in its website, announced that the bonds are N75 billion, 10-year re-opening FGN bonds at 12.5 per cent interest rate and …

By Kadiri Abdulrahman Abuja,  Feb. 10, 2021 The Central Bank of Nigeria (CBN) has introduced a new intervention programme (RT200) to help improve export receipts and boost the country’s foreign exchange earnings. The CBN Governor, Mr. Godwin Emefiele, made this known on Thursday in Abuja, while addressing journalists on the …

By Kadiri Abdulrahman Abuja, Feb. 8, 2022 The Debt Management Office (DMO), has announced two Federal Government of Nigeria (FGN) bonds for subscription for the month of February, at N1000 per unit. In a statement on its website on Tuesday, the DMO explained that the first offer was a two-year …

The National Council on Privatisation (NCP) has granted approval to Orbit Exploration and Natural Products Limited (OENPL) to take over the mineral titles of Ogboyega North and South Coal Blocks, Mines number 769 & 772 ML from Western Metal Products Company (WEMPCO). The company, according to a statement by Ibeh Uzoma …

By Itohan Abara-Laserian Lagos, Feb. 7, 2022 FMDQ Securities Exchange Ltd. has announced the listing of the Federal Government of Nigeria’s four billion dollars Eurobonds under its global medium-term note programme on its platform. This is contained in a statement by FMDQ Exchange made available to the News Agency of …

Fidelity Bank has facilitated the disbursement of over N34 Billion in direct credit to players in the Nigerian rice value chain. The bank’s interventions in recent years have helped to unlock spontaneous financing opportunities for a large swathe of paddy rice farmers with significant contributions to the expansion of national …

By Edith Ike-Eboh and Emmanuel Afonne Abuja, Feb. 6, 2022 (NAN) The Nigeria National Petroleum Company (NNPC) Limited had a busy week following the award of honourary doctorate degree on its Group Managing Director (GMD) and Chief Executive Officer (CEO), Malam Mele Kyari. The award was bestowed on the awardee …

Leading energy company, Shell Nigeria Gas (SNG), has received accolades from industry regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), for deliberate and active investment in Nigeria’s critical gas infrastructure to supply gas for powering industries in key locations in the country. The Chief Executive of NMDPRA, Farouk …

By Lucy Ogalue Kano, Feb.  4, 2022 The Minister of Transportation, Rotimi Amaechi says lack of adequate funding may slow down the pace of work on, and completion of, the Kano-Kaduna railway project. Amaechi made this known while inspecting work on the project in Kano on Friday. “I have never denied that …

By Kadiri Abdulrahman Abuja, Feb. 3, 2022 The Director-General of the Debt Management Office (DMO), Patience Oniha, says the oversubscribed portion of the N250 billion, 2021 Sovereign Sukuk, which attracted N865 billion, was returned to investors. Oniha made this known on Thursday, in Abuja, at a ceremony to present cheques …

By Itohan Abara-Laserian Lagos, Feb 3, 2022 Futureview Asset Management has offered investment tips for building an efficient portfolio due to speculative higher inflationary pressure following the Federal Government’s retention of petroleum products subsidy. The Managing Director, Futureview, Mrs. Ugochi Nnodi, disclosed this in a statement made available to the …

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has joined the Managing Director of Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe and a host of dignitaries including two state governors to commission a 400 metric tons per day mega rice mill in Kano state constructed by Gerawa …

By Zubairu Idris Kano, Feb. 1, 2022 The Central Bank of Nigeria (CBN) says it will provide financial support to rice mills to boost paddy production for enhanced rice production in the country. The CBN Governor, Godwin Emefiele disclosed this at the commissioning of Gerawa Rice Mill Limited in Kano …

Ten customers of Fidelity Bank Plc have become N1million richer having received their cash prizes for emerging winners in the January draw of the Bank’s Get Alert in Millions savings promo, season 5 (GAIM 5). The prizes were presented on Thursday, 27 January 2022 at an event held at Fidelity …

By Kadiri Abdulrahman Abuja, Jan. 31,2022 The Central Bank of Nigeria (CBN) on Monday gave out N23.2 billion in loans to 28 beneficiaries, as it inaugurated its new “100 for 100” Policy on Production and Productivity (PPP). The News Agency of Nigeria (NAN) reports that the PPP was initiated by …

Nigerians have been encouraged to embrace and sustain saving culture as one of the strategic and shrewd approach to make headway in the country’s distressed economy. The Managing Editor/CEO, Premium Eagle Media Limited, publishers of The Eagle Online newspaper, Dotun Oladipo, gave the advice at the 2022 Annual General Meeting …

By Christian Njoku Calabar, Jan. 31, 2022 Residents of Cross River have called on the Federal Government to revoke the licence of the Port Harcourt Electricity Distribution Company (PHEDC) for alleged poor performance and exploitation of consumers. The residents who spoke to the News Agency of Nigeria (NAN) on Monday …

By Emmanuella Anokam Abuja, Jan. 29, 2022 The Nigerian Content Development and Monitoring Board (NCDMB), says it will host the Africa Local Content Investment Forum (ALCIF) to foster sustainable funding of Africa oil and gas projects. The forum is scheduled to hold in Lagos on March 7. Executive Secretary of …

Ohanaeze Ndigbo Worldwide has commended Professor Charles Chukwuma Soludo, Governor-elect of Anambra State on his far-reaching policy statement that Innoson vehicle will be his official car while in Office as the governor of Anambra State. The Innoson Vehicle Manufacturing Co. Ltd (IVM) is a Nigerian automobile manufacturer based in Nnewi, Anambra …

By Yunus Yusuf Ikeja, Jan. 28, 2022 As part of efforts to improve infrastructure and service delivery at the General Aviation Terminal (GAT) Lagos, the Federal Airports Authority of Nigeria (FAAN) said it would expand the Zulu wing of the terminal. The General Manager, Corporate Affairs, FAAN, Mrs. Henrietta Yakubu, …

By Lydia Ngakwe Lagos, Jan. 27, 2022 The ‘W’ Initiative, a flagship women empowerment programme from Access Bank plc, has advised women to take advantage of the Bancassurance cover and be protected in the event of unforeseen eventualities. The Group Head of `W’ Initiative, Mrs. Abiodun Olubitan, gave the advice …

Emefiele By Kadiri Abdulrahman Abuja, Jan. 27, 2022 (NAN) The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has urged manufacturers in the construction industry to bring down prices of building materials in the interest of the Nigerian masses. According to a statement from the apex bank, …

By Kingsley Okoye Abuja, Jan. 26, 2022 The Senate via its Committee on Local Content on Wednesday engaged the management of Nigerian Content Development and Monitoring Board (NCDMB) over alleged breach of local content laws on execution of 10 billion dollars Train 7 gas project by SAIPEM. SAIPEM, an Italian …

The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) has appealed to the general public not to engage in panic buying of PMS or petrol, assuring that the Company has sufficient stock of the product to meet the needs of Nigerians. The Company, in a statement by Garba Deen Muhammad, its Group …