Tag - the nation

PUNCH FG releases 50% of funds for capital expenditure The Minister of State for Budget and National Planning, Zaynab Ahmed, on Wednesday said the Federal Government had so far released about 50 per cent of the capital expenditure component of this year’s budget.[Read More…] No going back on railway concession, says FG Despite concerns by workers …

  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 …

  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 …

  THE GUARDIAN Nigeria requires N5.7tr investment to recoup losses from oil production slide Unless the Federal Government and investors in the nation’s oil and gas sector invest about $29 billion (about N5.7 trillion) between now and 2019, the country’s crude oil production may decline from its present state of two million to 300,000 barrels …

  VANGUARD Detailed copy of 2016 budget ready today —Reps Baring any last minutes change, a detailed clean copy of the 2016 budget will be ready today for onward transmission to the President for assent.[Read More…] FG allocates N14.69bn for group life in 2016 budget The Federal Government has voted N14.69 billion for group life for …

THISDAY Forte Oil to Raise N100bn Capital for Expansion Forte Oil Plc is to raise N100 billion fresh capital  to expand its operations within Nigeria.  Consequently, the directors of the company are seeking the approval of shareholders at the forthcoming annual general meeting  to raise the funds. According to the company,  the N100 billion could …

PUNCH Lagos to prosecute tax defaulters from April 1 The Lagos State Internal Revenue Service says it will commence the prosecution of tax evaders and offenders in the state from April 1, 2016.[Read More…] China reduces import of Nigerian crude oil Nigeria saw its share of China’s crude oil imports shrink by 7.5 per cent last …

  THISDAY Dangote Opens Tomato Factory to Vie With Chinese Imports The Dangote Group, owned by Africa’s richest man, Aliko Dangote, has opened a tomato-processing factory near Nigeria’s northern city of Kano aimed at vying for the local market with imports from China.[Read More…] CBN Offers N3m Credit Incentive to Boost Youth Entrepreneurship The Governor of …