Nigeria’s Debt Rose 38% to 17.4 trln Naira in 2016

Nigeria’s total debt rose to 17.36 trillion naira ($56 bln) as of Dec. 2016 from 12.60 trillion naira a year earlier, the Debt Management Office said, as the country grappled…

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Nigeria’s Gas Sector Loss $25 Billion FDI Says MD, NLNG

While speaking at the 2017 Nigeria Oil and Gas Strategic Conference and International Exhibition in Abuja, the Managing Director of NLNG, Tony Attah, has put the immediate loss of foreign…

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NIRSAL to Launch $300m Agribusiness Loan Project for Young Farmers

Nigeria Incentive-Based Risk-Sharing System for Agricultural Lending (NIRSAL), an arm of the Central bank of Nigeria (CBN) has announced plans to launch a $300 million agribusiness loan project for young…

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Shell Nigeria Urges Policy Consistency

The head of Shell’s Nigerian production business used a February 22 speech at the West African International Petroleum Exhibition and Conference (Waipec) to call for greater consistency in government policies….

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NNPC Clarifies Position on Oil Block Signature Bonus, Royalty

The Nigerian National Petroleum Corporation (NNPC) has clarified that it is not involved in the collection of signature bonuses (funds) paid by oil companies to the Federal Government upon their…

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Nigeria’s aviation sector crashing…

Nigeria may consider itself a regional aviation hub but years of mismanagement and recession have blighted domestic airline operations, making delays and cancellations the norm. Industry experts say the sector…

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Nigeria plan to link mines to steel mill seen as Buhari’s test

Nigeria’s plan to build a railway to supply iron-ore to its idle Ajaokuta steel plant could be the biggest sign yet that President Muhammadu Buhari is implementing his policy to…

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2017 Budget Deficit Financing: Nigeria’s efforts to secure international loans hit deadlock

Nigeria’s efforts to secure funds from international lenders to help haul it out of recession have stalled because it has not submitted the required economic reform plans, according to one…

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FG insists on completing 117 abandoned water projects

The Minister of Water Resources, Suleiman Adamu, says the Federal Government will not succumb to pressure to embark on new water projects, but ensure the completion of 117 abandoned projects…

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Gas flaring penalties: Non-implementation costs Nigeria N2.9trn

LACK of political will on the part of the Federal Government to enforce its own laws on gas flare penalties, has cost the country $14.298 billion between April 2008 and…

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