Nigeria borrowed N6.64tn, serviced debt with N2.93tn in 2021, says DMO
The debt management office announced on Thursday that Nigeria’s total public debt stock will rise to N39.56 trillion in 2021…
Month: March 2022
Nigeria Pays Price for First Eurobond Since Start of Ukraine War
Nigeria raised $1.25 billion in foreign debt to become one of the first sovereigns to tap the Eurobond market since…
NUPENG cries out as cooking gas price rises again
On Wednesday, the Nigeria Union of Petroleum and Natural Gas Workers’ Liquefied Petroleum Gas Retailers Branch expressed concern about the…
Telcos mull tariff hike as diesel price skyrockets
Telecommunica-tions services providers under the aegis of the Association of Licensed Telecoms Operators of Nigeria have said a tariff review…
FG plans new trade policy, 24-hour port operations
Three weeks after the war between Russia and Ukraine began, the Federal Government says it is working on a new…
Federal Government to auction NIMEP to fund mineral exploration
Following the sale of its National Integrated Mineral Exploration Project, the Federal Government has announced plans to conduct additional exploration…
FG Urged to Suspend Tax, Levies on Fuel Imports to Curb Inflation
Dr Muda Yusuf, Chief Executive of the Centre for Promotion of Private Enterprise (CPPE) and former Director General of the…
AfDB secures $15.6bn for Lagos-Abidjan highway corridor
Dr. Akinwumi Adesina, President of the African Development Bank, announces that the bank has secured $15.6 billion for the construction…
Russia Exits Council Of Europe Over Ukraine Invasion
Russia ceased to be a member of the Council of Europe on Wednesday, after more than a quarter-century membership in…
COVID-19: UK Removes All Travel Restrictions
The United Kingdom has announced that the remaining COVID-19 international travel restrictions for all passengers will be lifted at 4…
Deep Blue Project: House Queries NIMASA over Arms’ Procurement
The House of Representatives Committee on Navy is currently investigating the legality of the federal government’s $195,300,000 Deep Blue contract with…
EU, IOM Facilitate Return of 500 Stranded Nigerians from Libya
The European Union (EU) and the International Organization for Migration (IOM) have announced that they have assisted in the return…
Banks’ total assets rose by N8.25tn in 2021 – CBN report
Total assets of Nigerian banks increased by N8.25 trillion to N59.24 trillion at the end of 2021. As of the…
FG halts N600bn electricity subsidy, confirms power tariff hike
The Nigerian Electricity Regulatory Commission announced on Wednesday that the Federal Government had discontinued power subsidies totaling approximately N600 billion…
Bread, rice record 42%, 48% price hikes in five years –NBS report
The average prices of bread and rice in Nigeria have been recording significant increases in the past five years, according…
Blackout as national grid collapses, minister summons emergency meeting
Power generation on the national grid collapsed to zero megawatts around 10.40am on Monday, leading to widespread blackout across the…
TANZANIA: Kenyan textile firm opens Sh5.7bn plant in Zanzibar – (THE CITIZEN)
Kenya’s firm Basra Textiles Ltd is setting up a Sh5.7 billion ($51.3 million) factory in Zanzibar as it targets to…
FMDQ Exchange admits Coleman’s N6b commercial paper
The Coleman Wires and Cables (Coleman Technical Industries Limited) N6.05 billion Series 3 and 4 Commercial Paper (CP) has been…
NDPHC Seals Power Purchase Deal with APL Electric, Eko Disco
The Niger Delta Power Holding Company (NDPHC) has signed a Power Purchase Agreement (PPA) with APL Electric Company Limited (APLE),…
Access Bank finalises transition to holdco
Access Bank Plc is concluding arrangements for its transition from a commercial banking group to a holding company (holdco). In…
Higher oil prices will increase subsidy cost, fitech tells Nigeria
Fitch Ratings has affirmed Nigeria’s long-term foreign-currency issuer default rating at ‘B’ with a stable outlook. It disclosed this in…
Convention: Micro-zoning Tearing APC Apart Amid Leadership Crisis
The crisis in the ruling All Progressives Congress (APC) over the zoning of national offices, ahead of the party’s national…
UGANDA- Bank interest rates may have to raise to fight inflation, says experts
The bank of Uganda may gradually embark on monetary policy tightening to tame swelling inflation pressures in the economy. Monetary…
Experts advocate databank of indigenous technologies for SDGs
The National Centre for Technology Management has emphasised the need to develop a databank of indigenous technologies that address sustainable…
NAICOM targets N6trn GPI by 2030
Barring unforeseen circumstances of pandemic proportions, the National Insurance Commission (NAICOM) has projected the insurance industry Gross Premium Income (GPI)…
Nearly 4.5 million Nigerians lack food security, says IMF
The International Monetary Fund estimates that the number of Nigerians lacking food security increased from about 2.5 million as of…
Investments in Economic Zones Hits $20bn in 30 Years, Says Minister
The Minister of Industry, Trade and Investment, Mr Adeniyi Adebayo, has said total cumulative investments in the country’s Free Economic…
The Foschini Group acquires Tapestry Home Brands from Actis and Westbrook Investments
Actis, Westbrook Investments and other shareholders agreed to sell their entire interest in Tapestry Home Brands, a South Africa-based home…
Schneider Electric develops micro grid solutions to boost energy transition
As part of efforts to support Nigeria’s commitment towardsnet-zero carbon emission, Schneider Electric has introduced a new range of micro-grid…
Govt Mulls Reinstating Fertilizer Indicative Price
TANZANIA Fertilizer Regulatory Authority (TFRA), has warned traders against hiking fertilizer prices for more than 50 per cent, noting that…