Tag - bloomberg

PUNCH $29.96bn loan: Presidency hopeful of Reps approval The Presidency on Thursday expressed optimism that the House of Representatives would approve President Muhammadu Buhari’s request to borrow $29.9bn from foreign sources, despite the decision of the Senate to reject the plan.[Read More…] MAN wants $1bn forex allocation for industrialists The manufacturing industry requires the injection of …

  PUNCH AfDB approves $600m loan for Nigeria The African Development Bank’s Board of Directors on Wednesday approved a $600m loan for Nigeria, several months after the Federal Government had approached the lender for a budget-support facility.[Read More…] Buhari’ll resend $30bn loan request to Senate, says minister President Muhammadu Buhari will resubmit the request for his …

PUNCH Power ministry gets N209bn as capital release details emerge The Ministry of Power got the highest amount of N209.24bn out of the total N753.6bn capital votes so far released by the Ministry of Finance to Federal Government’s Ministries, Departments and Agencies for the implementation of the 2016 budget.[Read More…] Adeosun, Udoma, DMO meet as Senate …

  PUNCH NNPC targets gas in 126 northern basins, others The Nigerian National Petroleum Corporation on Monday said that there was a need to expand the country’s gas exploration efforts in its sedimentary oil and gas basins in order to increase the product’s reserve.[Read More…] CBN warns against patronage of ‘wonder banks’ The Central Bank of …

  PUNCH Naira falls further to 414/dollar The naira fell to a new low of 414 against the United States dollar on Sunday amid the continued scarcity of foreign exchange in the country, with economic experts predicting further pressure in the forex market this week. [Read More…] Monthly cheque transactions decline to N489bn A steady decline …

  PUNCH External reserves drop to $26.33bn The nation’s external reserves fell marginally to $26.33bn on June 29, down 0.30 per cent from a month ago, the Central Bank of Nigeria data showed on Thursday.The foreign exchange reserves stood at $26.42bn on May 27, down by 9.2 per cent year-to-year. [Read More…] Nigeria’s shea butter production …

  THISDAY Union Dicon Salt Takes Over $100m Alape Staple Crop Processing Zone The future looks rosy for shareholders of Union Dicon Salt Plc as the company has become the core investor in the $100 million Alape Staple Crop Processing Zone (SCPZ) in Kogi State. Union Dicon Salt replaces Cargill, a United States based agro-industrial …

  PUNCH Nigeria’s foreign debt rises by $7.18bn in 10 years Ten years after Nigeria’s historic exit from the Paris Club of Creditors, the country’s external debt balance has climbed to $10.72bn, up from $3.54bn, investigation has shown.The Federal Government had between 2005 and April 2007 paid over $15bn to exit from both the Paris …

PUNCH CBN to release flexible exchange rate policy today The new flexible exchange rate policy will be released today (Wednesday), the Acting Director, Corporate Communications of the Central of Bank of Nigeria, Mr. Isaac Okoroafor, has said.The CBN’ Monetary Policy Committee had on May 24 risen from its bi-monthly meeting and announced plans to adopt …

  THISDAY Adeosun, Finance Commissioners Meet Today on Fresh Bailout to States The Minister of Finance, Mrs. Kemi Adeosun, will tuesday meet with the 36 commissioners of finance to finalise discussions on a fresh bailout to their cash-strapped states.[Read More…] Power: Planned Transmission Repairs to Cut Supply by 300MW Nigeria’s meagre power generation and supply capacity …