Organic Food Export: NEPC Targets $200m From Exporting 7 Commodities Export Promotion Council (NEPC) has projected to generate $200 million from the export of seven priority commodities in the next 10 years. Speaking yesterday in Abuja when NEPC signed two Memoranda of Understanding (MoU) with Tak Integrated Agriculture Solutions Limited and NICERT Limited on […]
Nigerian Aviation Company Invests N2bn On Ground Handling Equipment The Nigerian Aviation Handling Company (NAHCO) Plc disclosed yesterday that it has spent N2bn to acquire ground handling equipment in the first phase of its investment plans. The company also said that it had commenced the second phase of the exercise which according to it would […]
Border Closure: Prices Of Rice, Eggs Skyrocket In October, Says NBS The average price of one kilogram of imported high quality rice (sold loose) increased by 3.08 per cent to N382.57 in October, 2019 from N371.13 in September 2019. The selected food price watch data for October 2019 released by the National Bureau of […]
FEC Okays N200bn Loan For BoI The Federal Executive Council (FEC) has approved the issuance of a Sovereign Guarantee of 500 million Euros (N200bn) from the Credit Suisse AG London Branch and a syndicate of international lenders as collateral for 500m Euro facility to the Bank of Industry (BoI). The Minister of State, Budget […]
Senate Passes Buhari’s Finance Bill The Senate on Thursday passed President Muhammadu Buhari’s Finance Bill, 2019, which seeks an amendment of Nigeria’s tax laws. The passage of the Bill was sequel to the consideration of the report of the Senate Committee on Finance. In his presentation of the report, Chairman of the Committee, Senator […]
FG, States LGs Share N702.058bn For October 2019 The Federal Account Allocation Committee (FAAC), at its meeting in Abuja shared to the Federal Government, States and Local Government Councils a sum total of N702.058 billion as federal allocation for the month of October 2019. From this amount, inclusive of VAT, Exchange Gain and Solid […]
Customs Seize N2.5m Fake Currency The Ogun Area 1 Command of the Nigeria Customs Service has said it intercepted fake currency notes worth about N2.5m. Also intercepted by the command were 40 drums of smuggled ethanol. The command’s Controller, Michael Agbara, told newsmen that the fake currency was intercepted due to the vigilance of […]
FGN Nov Bonds Oversubscribed By N102.35bn The FGN bond auction by the Debt Management Office which took place on Wednesday was oversubscribed by N102.35bn. The DMO offered N150bn from three instruments (five-year, 10-year and 30-year bonds) for N50bn each, to investors at the auction. The total subscription received through competitive bids for the instruments […]
2020 Budget Contains N150bn Wasteful Expenditure – Report The Centre for Social Justice on Wednesday faulted the 2020 budget presented by President Muhammadu Buhari to the National Assembly, stating that the fiscal document contained about N150.07bn expenditures that are “frivolous, inappropriate, unclear and wasteful.” The group stated this in a report made available to […]
150m Nigerians Risk Financial Fraud – NCC The Nigerian Communications Commission on Wednesday warned that over 150 million Nigerians in the financial system risk being defrauded through telecommunications platforms. NCC Executive Vice Chairman, Prof. Umar Danbatta, gave the warning in an address during the inauguration of a multi-sectoral committee on e-fraud in Abuja. Recent […]
