The International Monetary Fund (IMF) has advised the Office of the Accountant-General of the Federation (OAGF) to strengthen Cash Management Unit for better results. IMF Senior Resident Economist, Africa Department, Mr. Amine Mati, gave the advice on Friday in Abuja while presenting a report of the activities of the IMF team that worked with the OAGF […]
The 8th Senate will on Monday hold a first-of-its-kind public hearing on the 2017 Appropriation Bill submitted to the legislature by President Muhammadu Buhari. According to a statement by the Chairman, Senate Committee on Media and Public Affairs, Senator Aliyu Sabi Abdullahi, the Public Hearing is aimed at allowing stakeholders and members of the public […]
Acting President, Prof. Yemi Osinbajo, on Friday resumed the peace talks with oil communities with a visit to Yenagoa, Bayelsa capital pledging rapid development oil bearing communities in the Niger Delta region. Speaking at the stakeholders meeting during the ongoing dialogue, Osinbajo noted that the oil industry was the dominant source of foreign exchange earnings […]
Oil prices rose on Friday after reports that OPEC members delivered more than 90 percent of the output cuts they pledged in a landmark deal that took effect in January. Supply from the 11 members of the Organization of the Petroleum Exporting Countries with production targets under the deal fell to 29.92 million barrels per […]
MTN Group is near an agreement with the Iranian government to acquire a 49% stake in a state-owned internet provider, as Africa’s biggest wireless carrier by sales seeks to expand in a fast-growing yet politically challenging market, according to two people familiar with the matter. Company officials are planning a meeting with minister of communications […]
Governor of Ekiti State and Chairman of the Peoples Democratic Party (PDP) Governors Forum, Mr. Ayodele Fayose has described the Federal Government’s plan to secure Eurobond which re-payment would last till 2032, as an act typical of the Biblical prodigal son, expressing the fear that the loan may plunge the nation into a prolonged economic misery. […]
Mayowa Okekale, Abuja The Federal Capital Territory Administration has proposed to spend the sum of N37,292,122,872 in the 2017 fiscal estimates for its capital and recurrent expenditures. The FCT Permanent Secretary, Babatope Ajakaye, dropped the hint during the 2017 FCT statutory budget-defence interface between the Senate Committee on FCT and the FCT Ministry led by […]
Nigeria comfortably raised $1 billion in its return to the Eurobond market yesterday, in what signifies a global investors’ endorsement of the Federal Government’s economic recovery initiatives and growth. The issue was 750% oversubscribed, underscoring still buoyant investor appetite for scarce frontier African paper, despite a recent selloff in emerging market assets. `The Global medium […]
Nigerian National Petroleum Corporation (NNPC), said its subsidiary, Kaduna Refining and Petrochemical Company (KRPC), lost about N2.2 billion annually to illegal tapping on its raw water pipeline. The corporation said this in a statement in Abuja on Thursday by its Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu. According to Ughamadu, the raw […]
The Assets Management Corporation of Nigeria (AMCON) on Thursday said it has taken over the operation of Nigeria’s largest domestic carrier, Arik Air. Mr Jude Nwauzor, AMCON spokesperson, confirmed the development to newsmen in Lagos. Nwauzor said the airline would now be managed by Capt. Roy Ilegbodu, an aviation expert under the receivership of Mr […]