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Abuja Overtakes Lagos in Foreign Capital Inflows

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The Federal Capital Territory, Abuja has become the leading recipient of foreign capital inflows, commencing from the fourth quarter (Q4) of  2017. In the first quarter (Q1) 2018, the nation’s capital also overtook with an inflow of $3.54 billion, the National Bureau of Statistics (NBS), has revealed in its ‘Capital Importation (Q1)’ report, which has just been released. This indicates an increase of 32.24 per ... Read More »

Investment inflow into Nigeria rises to $6.3bn – NBS

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The National Bureau of Statistics on Friday released the capital importation report for the first quarter of this year, with the investment inflow into the country estimated at $6.3bn. The investment inflow of $6.3bn is an increase of 17.1 per cent over the $5.38bn recorded in the fourth quarter of last year. The report stated that the increase in capital inflow in the first quarter ... Read More »

N260bn Invested In Roads Under Buhari —FG

Babatunde-Fashola

Declare emergency on Nigerian roads, NUPENG tells FG The Federal Government on Thursday said it had invested N260bn in roads across the country in the past three years. According to the Minister of Power, Works and Housing, Babatunde Fashola, the funds were expended on the road sector between 2015 and 2018. Fashola disclosed this in his keynote address at the 4th Quadrennial Delegates’ Conference of ... Read More »

NIMC Plans To Bring 70m Citizens Into The Payments System By 2019

NIMC

The National Identity Management Commission, NIMC, said it plans to enrol and issue National Identity Numbers (NIN) to 70 million Nigerians before the end of 2019. NIMC According to the commission, the aim of issuing NIN is to bring citizens into the country’s payments system The Director-General, NIMC, Mr. Aliyu Aziz, disclosed this in an interview with Bloomberg in Abuja. Aziz stated: “Nigeria plans to ... Read More »

Naira Depreciates Further To $ 361.36 In I&E Window

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The Naira, yesterday, depreciated further by 22 kobo to N361.36 per dollar, in the Investors’ and Exporters’ (I&E) window of the foreign exchange market. Data from the Financial Market Dealers Quote (FMDQ) showed that the indicative exchange rate for the I&E window rose to N361.36 per dollar, yesterday, from N361.14 per dollar on Wednesday, translating to a 22 kobo loss in naira value. This depreciation ... Read More »

Forbes Names Dangote Among World’s 75 Most Powerful

aliko dangote

Africa’s richest person and President of the Dangote Group, Aliko Dangote, has been ranked among 75 most powerful people on the planet, ahead of the Vice President of the United States of America, Mike Pence. According to the Forbe’s 2018 ranking of the World Powerful People, Dangote ranked among world leaders like the Chinese President, Xi Jinping; the Russian President, Vladimir Putin; and the President ... Read More »

Again, Senate Postpones Passage Of 2018 Budget

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The report by the joint Senate and House of Representatives’ Committee on Appropriations on the 2018 Appropriation Bill was not laid at the Senate before the chamber adjourned plenary to Tuesday next week. The Senate cancelled today’s (Thursday) plenary to allow members of the All Progressives Congress caucus to prepare for the local government area congresses of the party holding on Saturday. President of the ... Read More »

Reps Ask FG To Suspend Planned Sale Of NLNG…Demand CBN’s Audited Accounts

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The House of Representatives on Wednesday asked the Federal Government to suspend its planned sale of the Nigerian Liquefied Natural Gas Limited. It described the NLNG as one of the most successful and lucrative investments of the government, which should be left to run as a major public asset. Nigeria has 45 per cent stake in the NLNG, which the government is proposing to divest. ... Read More »

Nigeria Leads South Africa In Foreign Reserves

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Nigeria is leading South Africa in net foreign reserves as that of the West African country hits $47.37 billion in March to beat South Africa which has $43.15 billion. Nigeria which recently recovered from economic recession with less than $21 billion in foreign reserves has built up its reserves massively over one and half years. The increase in the country’s foreign reserves is reported to ... Read More »

FG Responsible For Fuel Subsidy Payment — NNPC

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Nigerian National Petroleum Corporation, NNPC, yesterday, disclosed that it was the Federal Government that is paying subsidy on petrol and not the corporation. Group Managing Director of the NNPC, Dr Maikanti Baru The NNPC also stated that it spent $396.33 million on Turn Around Maintenance, TAM, for the country’s four refineries between 1998 and 2008. Addressing the House of Representatives’ Ad-hoc Committee investigating the status ... Read More »

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