32.2 C
Lagos, South Africa and New York
Monday, June 1, 2020

Nigeria’s Banking sector records 117.15% increase in offshore investment flow

Banking Wednesday,May 16,2018 Capital importation through the banking sector rose significantly by 117.15 percent to $1.18 billion in the first quarter of 2018 from $543.4 million in the fourth quarter of 2017 according to the latest report of the National Bureau of Statistics (NBS). Standard Chartered Bank,...

With N1 trillion spent on capital projects in 2016 and N1.5 trillion in 2017, Nigeria’s future is bright – Buhari

President Muhammadu Buhari says the nation’s economy is steadily improving, urging Nigerians to remain optimistic as the future of the country is bright. At a State dinner held Monday, in his honour by the Government of Jigawa State during his two-day working visit, Mr Buhari...

Experts urge Buhari to sign PIGB to retain $15b investment

Industry experts have said the signing of the Petroleum Industry Governance Bill (PIGB), would not only retain the $15billion annual investment in the oil and gas sector, but will boost employment, and guarantee stable operational environment in the Niger Delta. Speaking at a...

Lagos mull World Bank partnership to fund key infrastructure projects

Akinwunmi Ambode, the governor of Lagos State, has called on the World Bank to seriously consider a partnership with the state government in funding key projects in transport, energy and water sectors, saying such collaboration would not only positively impact the economy of the...

Proposed sale of NLNG not in the interest of Nigeria’s economy – Minister

The House of Representatives has declared that the proposed sale of the Nigerian Liquefied Natural Gas (NLNG) will not be in the interest of the nation’s economy and has urged the Federal Government to suspend the exercise. This followed the adoption of a motion by...

Senate considers Buhari’s request for N2trn promissory note

The Senate Wednesday constituted a seven member Committee to consider President Muhammadu Buhari’s request for approval of over N2 trillion for the issuance of promissory note. President Buhari said that the approval of the promissory note would enable government to offset inherited local debts and...

Nigeria, GE Partners on Narrow-Gauge Railway Concession

An International Consortium led by GE has signed an agreement with Nigerian officials in Washington D.C. to proceed with the Interim Phase of the Nigerian narrow-gauge railway concession. The agreement followed the award of preferred bidder to GE by the Federal Government in May 2017. Initiated...

Expert advise FG to fix laxity in regulatory framework to attract more FDIs into oil & gas sector

The lax and inefficient nature of regulatory framework in oil and gas sector in Nigeria, may continue to affect the inflow of foreign direct investment unless government takes urgent action. The Managing Partner, The Chancery Associates, Emeka Okwuosa, who spoke with Naija247news in Abuja, Tuesday,...

Banking sector’s credit to oil firms rose to N3.42trillion in Q1

Owing to the stability in crude oil prices, the banking sector’s credit to the oil and gas firms has increased by 21.92 per cent to reach N3.42trillion during the first quarter (Q1) of 2018. The amount is regarded as the highest credit allocation in Q1...

Nigerian govt feeds 7.6m children daily under school feeding programme – Osinbajo

Vice President Yemi Osinbajo, on Friday said that about 7.6 million children in 22 states across the country were being fed daily under the National Home Grown School Feeding Programme (NHGSFP). Osinbajo made this known in Akure during an interactive session with beneficiaries of...