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Federal allocation account now N8.5trn – NEITI

The Federation Allocation Account Committee (FAAC) has disbursed N8.5 trillion to the three tiers of government and others, the Nigeria Extractive Industries Transparency Initiative (NEITI) disclosed at the weekend. The initiative added that it was the first time since 2014, that disbursements would exceed N2 trillion in three consecutive quarters. According to

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Nigeria signs agreements with Afreximbank, NSIA, BoI to develop Special Economic Zones

Nigeria’s Federal Government today signed investment agreements with three Development Finance Institutions; Afreximbank, Bank of Industry and the Nigeria Sovereign Investment Authority (NSIA) for the development of special economic zones in the country. And with the signing, President Muhammadu Buhari, who presided over the ceremony at the Council Chambers of the

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Oil prices fall with US record output, inventory

Rising U.S. crude inventories and record production levels knocked down oil prices Thursday, but OPEC-led supply cuts and Washington’s sanctions against Venezuela stabilised markets. U.S. West Texas Intermediate (WTI) crude futures were at $53.84 per barrel at 0247 GMT, down 17 cents, or 0.3 percent, from their last settlement. International Brent crude

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FG to boost export services with N350bn

Olusegun Awolowo, the Executive Director, Nigerian Export Promotion Council (NEPC) says the Federal Government has approved N350 billion worth of promissory note to service exports. Awolowo said this in Abuja on Thursday at the inauguration of NEPC Anti- Corruption and Transparency Unit (ACTU). According to him, the promissory note will help reposition

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