Nigeria targets Shares Reduction in Oil JV Firms to 40%- Sylva The Federal Government plans to gradually reduce its stakes in Oil Joint venture firms to 40 percent, Minister of State for Petroleum Resources, Chief Timipre Sylva has said. The Minister stated this Friday in Lagos where he enumerated his Ministry’s deliverables on which the […]
Nigeria Spends $1.2bn To Import Fish Yearly The Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele says about 1.2 billion dollars worth of fish is imported into this country annually. Emefiele disclosed this in a meeting while briefing some state Governors and the media on the feat recorded so far in agriculture […]
CBN Spends N146bn To Support 849,480 Rice Farmers – Emefiele The Central Bank of Nigeria (CBN) says it spent N146bn to support 849,480 wet and dry seasons rice farmers across the country.The CBN Governor, Mr Godwin Emefiele, gave the details at a meeting with some state Governors in Abuja on Thursday. Emefiele said that […]
Non-passage Of PIB , Regulations Stall About $100bn Oil Projects With drawbacks in the passage of the Petroleum Industry Bill (PIB), as well as various unfavourable fiscal and regulatory frameworks, stakeholders have estimated $100 billion worth of projects awaiting final investment decisions in Nigeria’s oil and gas sector. Specifically, the stakeholders identified some of […]
FAAC Shares N740.88bn for August 2019 The Federal Government, States and Local Government Areas (LGAs) shared N740.88 billion as federal allocation for the month of August, 2019. This was contained in a communique issued at the end of the Federation Accounts Allocation Committee (FAAC) meeting and signed by Mr Ahmed Idris, the Accountant-General of the […]
Mining Stakeholders Berate Govt’s Rules On Accessing N15bn Loans Local miners have complained that the stringent measures put in place by the government have hindered them from accessing the N15 billion facility loans meant to boost the mineral sector in the country. They said that despite the conditions, which forced them to form cooperative […]
‘Nigeria Needs N770bn Annual Investment For Real Sector’s Funding Gap’ Vice President Yemi Osinbajo has said that about N770 billion investments would be needed yearly to bridge the financing gap in the country’s real sector. Quoting from the research by KPMG on behalf of the Nigeria Industrial Policy and Competitiveness Executive Council, Osinbajo lamented […]
DMO Gets N197.03bn Oversubscription On Treasury Bills The Debt Management Office(DMO) has recorded an oversubscription of N197.03bn on its Treasury bills auction of September 18, 2019. The DMO offered N3bn, N8.39bn and N168.36bn across the 91-day, 182-day and 364-day tenors. The 91-day tenor saw an oversubscription of 48.67 per cent as a total subscription of […]
Livestock: NEC Okays N100bn, Targets 7 Northern States The National Economic Council on Thursday approved N100bn as budget for the implementation of the National Livestock Transformation Plan (2019 to 2028). The NEC, which was presided over by Vice-President Yemi Osinbajo, gave the approval during its meeting at the Presidential Villa, Abuja. The approval came […]
CBN Restricts Forex For Cassava Products Importation The Central Bank of Nigeria has said it will no longer provide foreign exchange for the importation of cassava, starch, ethanol and all other derivatives into Nigeria. The CBN Governor, Mr Godwin Emefiele, said this during a meeting with some state governors held at the headquarters of the […]
