Nigeria’s total debt profile as of December 31, 2018, now stands at N24.387tn. The figure swelled by 12.25 per cent from N21.725tn in 2017 to N24.39tn in 2018. The debt rose by N2.66tn from December 31, 2017, to December 31, 2018, the Debt Management Office said. Statistics provided by DMO in Abuja on Thursday showed […]
The Super Eagles are now ranked third in Africa after moving up four places to 42 in the latest FIFA ranking released on Thursday. The three-time African champions earned wins against Seychelles and Egypt in the last international window, which pushed them up the ranking. Senegal’s national team, the Teranga Lions, are Africa’s top team […]
President Muhammadu Buhari has lamented that the inability of the government to address various health challenges has caused increasing medical tourism among Nigerians, resulting in huge loses of over N400 billion annually. President Buhari also yesterday departed Abuja for Amman to honour an invitation by King Abdullah II bin Al-Hussein of Jordan to participate in […]
The Nigerian National Petroleum Corporation (NNPC) assured Nigerians apprehension about impending fuel scarcity was unfounded, saying there is enough petroleum products stocked in 55 fuel depots across the country. The NNPC spokesperson, Ndu Ughamadu, advised motorists and other petroleum products consumers not to engage in panic buying. Mr Ughamadu said 23 depots in Lagos, seven […]
Nigerian oil company Oando said on Thursday it had sold its 25 percent stake in local gas and power company Axxela to majority investor Helios Investment partners for $41.5 million as it works on cutting its debt. Oando has in recent years transformed itself from a fuel retailer to an oil producer competing with multinationals […]
President Muhammadu Buhari has left Nigeria to attend the World Economic Forum on the Middle East and North Africa holding in Amman in Jordan. The president will also seize the opportunity to attend the Annual Investment Meeting scheduled to hold in Dubai. Buhari’s attendance of the WEF was at the invitation of King Abdullah II […]
Royal Dutch Shell, Nigeria’s largest foreign investor paid the Nigerian government $6,397,325,844 as oil production entitlement, taxes, royalties and fees arising from the company’s activities involving oil and gas exploration, development and extraction in the year 2018. The Anglo-Dutch company disclosed this in its annual sustainability report published, yesterday, explaining that $3,776,418,858 was paid as […]
Despite concrete and visible interventions of the Central Bank of Nigeria (CBN) via the Anchors Borrowers Programme (ABP) on the rice sub-sector of the Nigerian economy, over 70 per cent of rice in Nigeria markets are foreign or imported. In a three-week survey on the rice market across the six geopolitical zones in the country, […]
As the Cerebrospinal Meningitis (CSM) season reaches its peak in Nigeria, no fewer than 44 people have died from the disease, the Nigeria Centre for Disease Control (NCDC) has disclosed. The NCDC declared that the 2018/2019 meningitis season began on October 1. The agency said in preparation for this year’s outbreak, all states in the […]