Category: Business

Buhari, Jinping President Muhammadu Buhari on Wednesday in Beijing won the crucial support of the Chinese President, Xi Jinping, for the country’s aspiration to build the 3050 Megawatts Mambilla hydroelectric power project. The two countries also signed an agreement of $328 million for the Information and Communication Technology Infrastructure Backbone Phase II (NICTIB II) project. […]

China National Petroleum Corporation (CNPC) has assured Nigeria of its unflinching commitment towards securing funding for the financing and execution of the Ajaokuta-Kaduna-Kano, AKK, pipeline project. The Nigerian National Petroleum Corporation, NNPC, disclosed this in a statement signed by its Spokesman, Mr Ndu Ughamadu, in Abuja on Monday. It said that CNPC gave the assurance […]

– Marketers scared off – Supply of product by NNPC epileptic, characterised by price differentials – Demand rises as product sells as high as N350 per litre Oil marketers in Nigeria are still reluctant to resume the importation of Dual Purpose Kerosene (DPK), after abandoning the venture for over two years on the grounds of […]

– Loan is without collateral, at 9 percent interest The Central Bank of Nigeria (CBN) said it had set aside N220 billion to be disbursed as loans to cooperative organisations under Micro Small and Medium Enterprises Development Fund (MSMEDF). Mr. Isaac Okorafor, Director, Corporate Communications Department of the CBN, announced the plan while addressing newsmen […]

– Nigeria’s revenue drops by N107 billion Federal, states and local governments on Thursday shared N714.8 billion revenue generated in July. The figure indicated a decline of N107.1 billion when compared to what was generated in June. The Minister of Finance, Mrs Kemi Adeosun, while briefing newsmen in Abuja on the outcome of the monthly […]

• Says PIGB shrinks presidential powers over oil sector • Experts differ on legislation, OPEC membership President Muhammadu Buhari has withheld assent to the Petroleum Industrial Governance Bill (PIGB). The decision is coming after 17 years of rigorous consultations and legislative hassles on the document. Sources said that he hinged his action on the argument […]

– says repositioning of maritime sector underway President Muhammadu Buhari has identified the maritime sector as rich with untapped assets which the government is repositioning to drive the economy and promote diversification. He stated this on Tuesday in Abuja, at the launch of a book written by Mr Bashir Jamoh, Executive Director (Finance and Administration), […]