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Browse Nigerian economy news, research and analysis from Local and international analysts. Follow Nigeria’s financial and monetary policies from Central Bank of Nigeria and other business And economic indicators

TSA: Nigeria to Seek Out-of-Court Settlement with Banks over State Funds

LAGOS, Aug 8  - Nigeria said on Tuesday it planned to withdraw its case against seven local banks over what it says is $793 million due to the state, and that it was seeking an out-of-court settlement instead. The banks concerned have said either that...

Foreign investors wary of Nigeria’s inconsistent policies ―Deloitte

Leading global professional services provider, Deloitte West Africa has revealed that its intervention in seven current investment transactions in Nigeria has shown most of the investors are wary of inconsistent polices by the Federal Government of Nigeria. Speaking over the weekend at the Taiwo Afolabi...

Trouble in Nigeria swamps threatens economic recovery

WARRI, Nigeria: Months have passed since the Niger Delta Avengers have launched an attack on Nigeria’s oil pipelines, yet leaders in the region are warning trouble is brewing in the southern swamplands. A charm offensive led by Nigeria’s acting President Yemi Osinbajo has kept the...

Nigerian govt offers savings bonds at 13.5% in August

The Federal Government on Monday offered for subscription a two-year savings bond at 13.535 per cent and three-year savings bond at 14.535 per cent. The Debt Management Office, DMO, stated on its website that both bonds would be due in August 2019. It, however, did not...

NNPC says it’s four major investments in upstream sector to fetch $30bn in 10 years

The Nigerian National Petroleum Corporation (NNPC) has disclosed that the four major investments it recently embarked upon with key upstream joint venture partners are capable of providing incremental revenue to the national treasury by over $30 billion within the next 10 years. Speaking at the...

MAN, ASB partners to add 80MW to industries in Lagos-Ibadan/ Makun corridor

The Manufacturers Association of Nigeria (MAN) is in advance negotiations with ASB Valiant Company Limited for the provision of 80 megawatts (MW) of power to industries at the Lagos-Ibadan/ Makun corridor. The ASB Valiant’s power plant will be tri-fuel, meaning that it will involve the...

Nigeria to revive six fertilizer plants through Sovereign Wealth Fund

The Managing Director of Nigeria Sovereign Investment Authority (NSIA), Mr. Uche Orji, said on Monday that the Federal Government would revive six fertilizer blending plants before the end of the year, through the infrastructure unit of its Sovereign Wealth Fund (SWF). Orji disclosed...

Nigeria grants 27 new local industries eligibility for pioneer tax incentive

The Federal Executive Council (FEC) of Nigeria has approved a new list of industries and products that could benefit from tax exemption available under the pioneer incentive scheme. Companies and products granted pioneer incentives enjoy three-year tax holiday which may be extended to five...

Benue State needs N40bn to clear salary arrears — Ortom

Gov. Samuel Ortom of Benue says his administration needs N40 billion to clear the backlog of salary arrears owed workers of the state. Ortom dropped the hint in a statement issued on Sunday in Makurdi by his Special Adviser on Media and ICT, Mr Tahav...

Nigeria’s power generation slumps to 1,835.6MW in three days

The total quantum of electricity on the nation’s power grid crashed by 1,835.6 megawatts within a period of three days. After reaching a peak of 4,282.6MW on August 2, 2017, power generation dropped to as low as 2,447MW on August 5, according to the latest...
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