The Nigerian Shippers Council said the World Bank has indicated its willingness to support Nigeria’s maritime sector with $40million. The fund is expected to be used to clear the traffic gridlock along ports access roads in Apapa, Lagos. The Executive Secretary of the Council, Mr. Hassan Bello, who spoke in Abuja yesterday at a press briefing, said the
A total of 224 companies yesterday bided to buy Nigerian crude through the 2016/2017 Nigerian National Petroleum Corporation (NNPC) Crude Term Contract. Speaking with reporters at the bid opening in Abuja, the Group Managing Director, Dr. Maikanti Baru, said the number of companies that will emerge from the bidding will be a factor of actual
President Muhammadu Buhari may present the 2017 Appropriation Bill to the joint session of the National Assembly on December 1. Senate Minority Leader, Senator Godswill Akpabio, gave the hint yesterday while contributing to the debate on the 2017 to 2019 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). Akpabio
The Federal Government says it has recorded N20 billion reduction in its monthly wage bill across Ministries Department and Agencies (MDAs). Currently, the N165 billion monthly wage bill has now come down to N145 billion translating to N20 billion monthly savings. The Permanent Secretary, Federal Ministry of Finance, Dr. Mahmoud Isa-Dutse
Nigeria risks losing its fuel market in West Africa to Ghana, if it does not revive its four refineries and build new ones, Department of Petroleum Resources (DPR) Director Mordecai Danteni Ladan has said. At the Worldstage Economic Summit in Lagos, he said it was high time Nigeria refurbished its refineries and built more to reduce imports.
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu yesterday said the Federal Government will pay off the discounted $5.1 billion cash-call debt it is owing International Oil Companies (IOCs) within five years. Though he did not state when repayment will start, he said its timeline was part of the concessions Nigeria got from the
Despite the economic downturn, investments in the telecoms sector hit $68billion in July, the former Secretary-General, International Telecommunications Union (ITU), Dr. Hamadoun Toure, has said. Of this figure, $35billion came as Foreign Direct Investments (FDIs) Toure, who was keynote speaker at the Nigerian Telecoms Investment Forum at