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The Federal Government has so far invested N32 billion ($200 million) of its fledgling Sovereign Wealth Fund (SWF), representing 20 per cent of the $1 billion (about N160 billion) to guard against commodity price shocks. Nigeria, Africa’s top oil producer and most populous nation, established the Sovereign Investment Authority (SIA) in
Read MoreThe National Bureau of Statistics (NBS), on Tuesday in Abuja noted the increased interest in and use of official economic and social statistics across the country. Quoting findings from the interim User Satisfaction Workshop survey, the Statistician General of the Federation, Dr Yemi Kale said the use of official statistics has
Read MoreNOIPolls, on Tuesday published the result of a three-year Business Leaders Perception Survey in which respondents listed major critical factors limiting Nigerian businesses as power, security, corruption and access to finance. The survey aimed at understanding the factors that are important to the success of business and those that make business
Read MoreExecutive Secretary of Petroleum Technology Development Fund (PTDF), Dr. Oluwole Oluleye on Monday said Information Communication Technology holds the key to future development in the country. Oluleye who spoke in Abuja when he received Kogi State Governor, Idris Wada to PTDF, said the fund has in last few years established several
Read MoreHoneywell Floor Mills Plc plans to introduce top range food products to the market, just as its shareholders approved payment of the N1.27 billion dividend or 16 kobo dividend proposed by the directors at the annual general meeting on Tuesday in Lagos. The company’s Managing Director, Folaranmi Babatunde Odunayo, in a
Read MoreForum of Commisioners of Finance in Nigeria has reacted to the release of N548.393 billion as the Statutory Revenue for the three tiers of government for the month of September as a sham, saying the Federation Accounts Allocation Committee (FAAC) did not approve such disbursements. Chairman of the forum, Timothy Odaah
Read More• Bids for 134m barrels capacity OMLs 52, 53, 55 due next week Indications on Tuesday were that several Nigerian oil firms are interested in buying Chevron Corporation’s $600 million stake in three oil blocks in the nation’s Niger Delta. The U.S-based firm plans to receive bids on September 30 from prospective
Read More• As MPC retains MPR at 12% By Efe Ebelo Snr. Correspondent, Abuja The Central Bank of Nigeria, (CBN), on Tuesday said it plans to curb all foreign exchange abuses by Bureau De Change (BDC) operators through new guidelines that would ensure closer monitoring of transactions at the BDC market. Speaking at the end
Read More• Says crude theft forced TNP shutdown Shell Petroleum Development Company (SPDC), on Monday evening, said that it could not meet it contractual agreement with the importers of its Bonny Light Crude grade from Nigeria and the gas supply to the Nigeria Liquified Natural Gas (NLNG). The company, in a statement, declared
Read MoreThe Chinese Civil Engineering Construction Company (CCECC) engaged by the Federal Airports Authority of Nigeria (FAAN) to build on the disputed land at the Murtala Muhammed International Airport (MMIA), Lagos started work on the project on Monday barely 24 hours after the Police dispersed its employees. The land is the subject
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