FG to spend N100bn Sukuk bond on 25 road projects
The Federal Government on Monday said it would spend the N100bn to be raised from the issuance of the Sukuk Bond for the reconstruction and rehabilitation of 25 arterial roads. The Minister of Power, Works and Housing, Mr Babatunde Fashola, stated this while addressing members of the Manufacturers Association... Read more
Dangote Group plans to invest $4.6 b in agriculture
Alhaji Aliko Dangote, the Chief Executive Officer, Dangote Group, has said that the company would invest 4.6 billion dollars in nation’s agricultural sector in the next five years. He listed sugar, rice, tomatoes and oil palm as some of the agricultural sectors where the monies would be invested. Dangote... Read more
Ambode seeks for 2017 budget Re-order
The Lagos State Government has written a letter to the state House of Assembly seeking its support for the re-ordering of the 2017 Budget. Governor Akinwunmi Ambode made the request in a letter he personally signed, and which was read on the floor of the House by the Clerk,... Read more
France launches €57bn investment fund
Prime Minister Edouard Philippe announced plans Monday to pour 57 billion euros ($67.8 billion) into modernising France’s sluggish economy, with a hefty chunk set aside for making it more environmentally-friendly. Spread over five years, the fund will be slightly bigger than the 50 billion euros that centrist Emmanuel Macron... Read more
UBA wins Interswitch awards
United Bank for Africa (UBA) Plc has emerged best institution in two esteemed categories at the prestigious Interswitch Awards and Gala. The bank beat other nominees in its category, taking away the prize for the Fastest Growing Bank Partner given to the bank with the most impressive performance in... Read more
OPEC Endorses Nigeria’s Oil Production Cut Exemption Request
The meeting of the Joint Ministerial Monitoring Committee of the Organisation of Petroleum Exporting Countries and non-OPEC members ended in Vienna on Friday with an endorsement of Nigeria’s position that the exemption granted it at the November 2016 ministerial conference and extended in May this year should be sustained... Read more
Benin, Togo electricity debts unsettle Nigeria
The Federal Government of Nigeria Friday raised concerns over continuous electricity supply to the Republic of Benin and Togo in the face of outstanding bills while Nigerians need the same power. Speaking during the opening meeting of the route and environmental and social impact assessment study on the Nigeria-Benin... Read more
Oil prices hit $57 as OPEC meets
Oil prices were largely up yesterday as traders waited to see whether oil- producing countries set to meet in Vienna, Austria would extend production limits to reduce the global crude glut. The brent crude was trading at $56.29 dollars a barrel. U.S. crude was 50.64 dollars. Ministers from the... Read more
Custom seized 470 guns at Lagos port
THE Federal Government is set to meet Turkish diplomats today over the spate of illegal importation of riffles from Turkey to Nigeria. Nigeria Customs Service (NCS) Comptroller-General (CG) Col. Hameed Ali (retd) said this when he briefed reporters over the seizure of another 470 rifles at Tin-Can Island port... Read more
World’s richest woman Liliane Bettencourt dies aged 94
L’Oreal heiress Liliane Bettencourt, the world’s richest woman whose old age was clouded by dementia, has died at the age of 94, her family said Thursday. “Liliane Bettencourt died last night at home,” her daughter Francoise Bettencourt Meyers said in a statement. “My mother left peacefully.” Bettencourt, the cosmetics... Read more