Business

FEDERAL GOVERNMENT TARGETS SIX BILLION NAIRA FROM CONCESSION OF TWENTY SILOS

The Federal Government is to get about 6 billion naira from the concession of 20 silos in different parts of the country to private sector operators. Minister of Agriculture and Rural Development, Audu Ogbeh, said in Abuja that the Federal Executive Council approved the plan at its meeting presided over by President Muhammadu Buhari yesterday. […]

Also posted in General, National News | | Leave a comment

FEDERAL GOVERNMENT SEEKS ONE-YEAR EXTENSION OF WORLD BANK’S 160 MILLION DOLLAR JOB CREATION FUND

The Federal Government has sought for 12 months extension to allow it to fully implement the project known as Growth and Employment in States This follows its inability to disburse 160 million dollars in funding for job creation provided by the World Bank. The objective of the Growth and Employment project is to accelerate growth […]

| Leave a comment

OYO GOVERNMENT TO COMMENCE STRICT ENFORCEMENT OF ENVIRONMENTAL SANITATION

The Oyo State Government has announced that it will commence total enforcement of its laws on environmental sanitation, street trading, illegal motors parks, land grabbing, urban and physical planning across the state, beginning from today, as it gears up to introduce the Ibadan City Master Plan. The state government said that beggars will also be […]

Also posted in General, National News | | Leave a comment

NNPC TO ESTABLISH TWO NEW CONDENSATE REFINERIES

The Nigerian National Petroleum Corporation has said it will establish two condensate refineries with a total refining capacity of 200,000 barrels per day at Western Forcados Area and Assa North/Ohaji South Areas of Delta and Imo states. Natural gas condensate is a low-density mixture of hydrocarbon liquids that are present as gaseous components in the […]

Also posted in General | | Leave a comment

NIGERIA STOCK EXCHANGE REVEALS 66 BILLION NAIRA DROP IN FOREIGN TRANSACTIONS

The Nigerian Stock Exchange recorded a decline of 66.24 billion naira in foreign portfolio transactions last month amid political uncertainties and rise in interest rates in the United States. The Domestic and Foreign Portfolio Participation in Equity Trading report for July 2018 which was released yesterday showed that total transactions at the nation’s bourse reduced […]

Also posted in National News, World News | | Leave a comment

CENTRAL BANK DATA REVEALS 990 MILLION DOLLAR DROP IN EXTERNAL RESERVES

Latest statistics obtained from the Central Bank reveal that the nation’s foreign exchange reserves have fallen by 990.98 million dollars this month. The external reserves, which stood at 47.11 billion dollars at the end of last month, declined to 46.128 billion dollars on August 23, 2018. The apex bank noted that the evolution of the […]

Also posted in General, National News | | Tagged , , | Leave a comment

PRIVATE SECTOR SUFFERS DECLINE IN LOANS BY COMMERCIAL BANKS

A National Bureau of Statistics report indicates that the total loans granted by Nigerian banks to the private sector declined from 16 trillion naira in the first quarter of 2017 to 15.34 trillion naira in the second quarter of 2018, bringing about a whopping 600.60 billion naira drop. This means credit to the private sector […]

| Leave a comment

CENTRAL BANK APPROVES SINGLE-DIGIT LOAN SCHEME FOR AGRIC SECTOR

The Central Bank of Nigeria (CBN) and the Bankers’ Committee has agreed to offer single-digit interest rate loans to operators in the manufacturing and agricultural sectors of the economy from commercial banks’ cash reserve requirement (CRR) with the apex bank. The central bank explained that instead of outrightly lowering interest rate, it opted for a […]

| Leave a comment

FEDERAL GOVERNMENT UNVEILS NEW NATIONAL CARRIER, NIGERIA AIR

The Federal Government has unveiled the branding and livery for the new national carrier, Nigeria Air, slated for inauguration at the end of this year. Minister of State for Aviation, Senator Hadi Sirika, unveiled the carrier at a press conference during the Farnborough Air Show in London. The aviation ministry said the branding and naming […]

Also posted in National News | | Leave a comment

PRESIDENT BUHARI SEEKS STRONGER PARTNERSHIP WITH BANKS TO IMPROVE INFRASTRUCTURE

President Muhammadu Buhari has called for a stronger partnership with lending banks to reduce the nation’s infrastructure deficit. He also assured of his administration’s full commitment to implement all agreements. The President who said this at the Presidential Villa, Abuja, added that the Federal Government will keep “knocking on the doors’’ of banks to participate […]

| Leave a comment

1
Off air