FG Raises Panel On N50bn Export Expansion Facility The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, yesterday inaugurated a steering committee for the implementation of the Export Expansion Facility (EEF) to boost non-oil exports. Adebayo at the virtual inauguration of the committee, warned that the economy would remain vulnerable to […]
‘Nigeria Requires $4bn Yearly For Renewable Energy’ Nigeria’s power sector requires about $4bn annually to access clean and sustainable renewable energy for power users across the country, the Federal Government has said. Minister of State for Power, Goddy Jedy-Agba, said this at a virtual global power conference of the United Nations, […]
Investors Gain N325bn As 49 Stocks Rise Equity trading on the floor of the Nigerian Stock Exchange, on Thursday, closed on a positive note with a gain of N325bn. The NSE All-Share Index appreciated by 1.54 per cent with the market breadth closing positive with 49 gainers as against seven losers. […]
Nigeria’s Debt Service Charges Rise 89% To N803bn The cost of servicing Nigeria’s public debt has increased quarter-on-quarter (QoQ) by 88.8 percent to N803.69 billion in third quarter of last year (Q3’20), from N425.7 billion in Q2’20. The amount was used to service the country’s debt stock of N32.22 trillion during […]
N226.8bn Raised Against COVID-19 Challenges – Fed Govt A total of N226.85bn was mobilised from various sources in response to the COVID-19 pandemic between March and June 2020, the Federal Government said on Thursday. It said this in the interim report on the special audit of the Federal Government of Nigeria’s […]
Pension Scheme: 118,044 Retirees Withdraw N29.26bn A total of 118,044 retirees withdrew N29.26bn from their Retirement Savings Accounts and left the Contributory Pension Scheme because they had low balances in their accounts which could not be utilised as monthly stipends for them. Many of the affected retirees were those that their […]
Lagos Plans Bonds, Borrowings To Fund N192.49bn Budget Deficit The Lagos State Government says it will explore a number of sources including bonds, domestic borrowing and foreign debt to finance a gap of N192.49bn contained in its 2021 budget. Commissioner for Budget and Planning, Mr Sam Egube, said this at […]
Nigeria’s Daily Oil Production Dips to 1.17m Barrels Crude oil production in Nigeria tumbled by 155,000 barrels to a record low in December amid the production cuts by the Organisation of the Petroleum Exporting Countries and its allies. OPEC disclosed this on Thursday in its report for January, saying a meaningful […]
Nigeria’s Inflation Rises to 15.75% The consumer price index, (CPI), Thursday recorded 15.75 percent increase (year-on-year) in December 2020. In its monthly report released on Friday, the National Bureau of Statistics, NBS said the increase was 0.86 percent points higher than the rate recorded in November 2020 (14.89) percent. In its […]
NNPC Harvests Bids from 96 Firms for Infrastructure Rehabilitation Buoyed up by the culture of Transparency, Accountability and Performance Excellence (TAPE) of the current NNPC management, no fewer than (96) prominent and reputable companies from various jurisdictions have indicated interest in undertaking the rehabilitation of the Nigerian National Petroleum Corporation’s (NNPC) downstream infrastructure ranging from […]
