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AfDB’s $50m Trade Risk Guaranteed To Benefit Nigerian Banks

AfDB’s $50m Trade Risk Guaranteed To Benefit Nigerian Banks

🕔06:54, 6.Apr 2018

Nigerian banks are to benefit from the $50m approved by the African Development Bank (AfDB) Risk Participation Agreement for Commerzbank AG. The fund is to address the continent’s trade finance market demand and help African countries to provide credit to

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N3.72Trillion Spent By FG Servicing Domestic Debts In Three Years

N3.72Trillion Spent By FG Servicing Domestic Debts In Three Years

🕔15:18, 5.Apr 2018

Statistics from the Debt Management Office(DMO) shows that about N3.72tn has been spent in the last three years to service domestic debts. According to latest statistics made available by the DMO, a total of N1.48tn was spent servicing debts in

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Export Of Electricity To Increase To 1,540MW In 2025

Export Of Electricity To Increase To 1,540MW In 2025

🕔07:46, 3.Apr 2018

Emerging report indicates that Nigeria’s export of electricity to two neighbouring countries, Niger and Benin Republics, would increase to 1,540 megawatts by 2025 from 387MW. This was disclosed in a document, entitled: “Transmission Expansion Plan”, which was obtained from the

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Nigeria’s Mobile Internet Subscribers Hit 100m

Nigeria’s Mobile Internet Subscribers Hit 100m

🕔06:55, 30.Mar 2018

The number of active mobile internet users in Nigeria has finally increased from its earlier position to reach a record 100.2 million-the highest threshold ever seen in the history of telecommunications industry in Nigeria. The development is coming just as

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Public Hearing On Appropriation Bill Holds Today

Public Hearing On Appropriation Bill Holds Today

🕔06:20, 27.Mar 2018

Following the controversies that surround the 2018 Appropriation Bill, the National Assembly is now set to hold a public hearing today (Tuesday) and Wednesday. The hearing which is jointly organised by the Senate and House of Representatives’ Committees on Appropriations,

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FIRS Witness N700bn Revenue Increase

FIRS Witness N700bn Revenue Increase

🕔06:31, 22.Mar 2018

The revenue earned by the Federal Inland Revenue Service, FIRS from tax has increased by over N700bn in the last two years. The Executive Chairman, FIRS, Mr. Babatunde Fowler, said this in Abuja on Thursday at the opening session of

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We Need To Borrow More Money–Amaechi

We Need To Borrow More Money–Amaechi

🕔07:13, 21.Mar 2018

The Minister of Transportation, Rotimi Amaechi has hinted on plans by the Federal Government to secure loans for the financing of some of the country’s rail projects. Speaking with State House correspondents on Tuesday, Amaechi said the President had approved

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FG Places N10m Fine On Overloaded Heavy Duty Vehicles

FG Places N10m Fine On Overloaded Heavy Duty Vehicles

🕔07:14, 20.Mar 2018

From hence forth, owners of heavy duty vehicles that ply federal highways will pay fines ranging from N1m to N10m, the Federal Government has announced. This was stated in an official gazette dated February 6, 2018, entitled: “Federal Highways (Control

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POS Usage Increases By 54.3%

POS Usage Increases By 54.3%

🕔07:36, 19.Mar 2018

The Nigeria Inter-Bank Settlement System (NIBSS) has disclosed that the usage of the Points of Sale transactions (POS) increased by 54.3 percent to N1.41tn in 2017. As at 2016, transactions were worth N0.76tn, while in 2015, they were N0.45tn from

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Lagos, Kaduna Leading In Foreign Debtors List

Lagos, Kaduna Leading In Foreign Debtors List

🕔06:48, 16.Mar 2018

Statistics from the Debt Management Office has shown that Lagos, Kaduna and Edo lead in the chart of foreign debts owed. This was disclosed in a document entitled: “States and Federal Governments’ External Debt Stock as at 31st December, 2017.”

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