The Debt Management Office (DMO), says it raised N123.85 billion in its July Federal Government of Nigeria (FGN) bond auction. The DMO, which made this known in a statement on Monday, said that the three instruments auctioned were valued at N75 billion each, totalling N225 billion. It said that...
BUSINESS
The failure of an overhead power line in southern Germany has paralysed production at Europe’s largest BMW plant, in Dingolfing, a company spokesperson said on Monday. Both the early and the late shifts were cancelled in the two assembly halls, with several thousand employees affected by the stoppage, the...
The Central Bank Governor, Mr. Godwin Emefiele will on July 21 inaugurate the multimillion naira Unilorin GgMAX Integrated Poultry Farm. The News Agency of Nigeria (NAN) reports that the farm is located at Amoyo in Ifelodun Local Government Area of Kwara. Prof. Mikhail Buhari, the Chairman of the Farm...
The Nigerian Export Promotion Council (NEPC) on Monday in Abuja reiterated the need to promote non-oil exports for Nigeria to meet its national and global economic demands. Dr Ezra Yakusak, Executive Director/CEO of NEPC said this at a five-day export promotion capacity building programme. The programme designed to train...
After operating for over 128 years with awards and recognitions to show for its commitments and accomplishments in banking, corporate philanthropy, socio-economic development, support to businesses and commercial activities, FirstBank is showing no signs of stopping or slowing down. In the first five months of this year, First Bank...
Uganda government officials have been racking up air miles between Entebbe, Italy and US to strike a financing deal for the $4 billion refinery project. Government officials admit that the refinery project has fallen behind others, and will likely come onstream late in 2027 at the earliest if the...
The World Bank Group says it has responded to the overlapping global crises by deploying 114.9 billion dollars in financing in 2022. This is contained in a statement obtained from the World Bank website by the News Agency of Nigeria (NAN) on Saturday in Abuja. The bank said in...
By JOY ADARA, Abuja – The Nigeria Export Processing Zones Authority (NEPZA) said it has attracted about one billion dollars investment in Niger State. Managing Director of NEPZA, Prof. Adesoji Adesugba, stated this while handing over an approved free trade zone declaration licence to officials of the investing company,...
The Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has said that the Monetary Policy Committee will chart a new course for an improved monetary policy and Central Bank of Nigeria (CBN) that will provide direction for monetary policy in Nigeria. The governor said this at a Monetary...
The consumer price index (CPI), which measures the rate of change in prices of goods and services, hit a five-year record high leapfrogging from 17.71 per cent in May to 18.60 per cent in June 2022. The National Bureau of Statistics (NBS) disclosed this in its consumer price index...
The Nigerian Exchange Ltd. (NGX) on Thursday transacted 115.41 million shares worth N1.21 billion in 3,731 deals as the indices dropped by 0.1 per cent. This was in contrast with 198.82 million shares valued N2.18 billion transacted in 4,769 deals on Wednesday, representing 41.95 per cent.Transcorp was the most...
By EZEKIEL OBI, Abuja – The Managing Director of The Shell Petroleum Development Company of Nigeria Limited (SPDC) and Country Chair, Shell Companies in Nigeria (SCiN), Mr. Osagie Okunbor, has been named the sole recipient of the H.E. Dr Alirio Parra Lifetime Achievement Award in Nigeria Oil and Gas Industry for 2022. Named in honour of the...
A 27-year-old Kaduna-based entrepreneur, Miss Henrietta Gimbiya-Barde, says she grew a N6,000 agro-processing business to N2.5 million, with six employees in three years. Gimbiya-Barde told the News Agency of Nigeria (NAN) in Kaduna on Thursday, that her company, HIGIM Food Processing Company, processes and adds value to agricultural products...
The National Council on Privatisation (NCP) says it is necessary to inform the public about measures taken by the Federal Government concerning the board of various DISCOs across the country. The Director-General, Bureau of Public Enterprises (BPE), Mr Alex Okoh, said this in a statement in Abuja on Wednesday....
The Debt Management Office (DMO), says Nigeria does not face the risk of experiencing “debt distress” due to its 15.9 billion dollars Eurobonds. The News Agency of Nigeria (NAN) reports that the 15.9 billion dollars Eurobond is the foreign component of the debt Nigeria owes. The DMO said this...
MTN Group’s Mobile Money Application Interface (API) is inviting developers across several markets to participate in an Open API Hackathon, with a challenge to create a mobile application that uses MoMo APIs for use in their markets. The hackathon will be the second conducted by MTN Group Fintech and...
The International Monetary Fund (IMF) and the World Bank Group (WBG) have announced that their 2022 Annual Meetings will take place from Oct. 10 to 16. This is contained in a statement obtained by the News Agency of Nigeria (NAN) from the World Bank website in Abuja on Wednesday....
The Organisation of the Petroleum Exporting Countries (OPEC) says Nigeria’s crude oil production increased to an average of 1.238 million barrels per day (bpd) in June 2022. OPEC made this known in its Oil Market Report for July 2022 which was obtained by the News Agency of Nigeria (NAN)...
By JOY ADARA, Abuja – Upon the effluxion of the amnesty provided by the Voluntary Assets and Income Declaration Scheme (VAIDS) set up by the Federal Government of Nigeria through the Federal Ministry of Finance, the Joint Tax Board (JTB) in collaboration with the Federal Inland Revenue Service (FIRS)...
Some economists have suggested diverse ways in which the Federal Government can overcome the rising food prices in the country. They made the suggestions in separate interviews with the News Agency of Nigeria (NAN) on Monday in Lagos. Food inflation rate in Nigeria rose, month-on-month (MoM) to 2.0 per...