The African Development Bank on Tuesday said it could consider Nigeria for an additional $400m loan if such a request was approved by its Board.
The World Bank’s Ease of Doing Business Report for 2018 has placed Nigeria in the 145th position. This is 24 positions better than the 169th position the nation was ranked in the 2017 report.
An Italian judge is expected to decide on December 20 whether to send two oil majors, Eni and Shell, to trial over alleged corruption in Nigeria, two legal sources said on Tuesday.
The Federation Account recorded a revenue inflow of N797.51bn from Value Added Tax between January and October this year, the Minister of Finance, Mrs. Kemi Adeosun, has said.
Global oil benchmark, Brent crude, rose above $61 per barrels on Tuesday after a week of gains as the prospect of increasing United States exports dampened bullish sentiment that has driven Brent crude to more than two-year highs above $60 per barrel.
The Manufacturing Purchasing Managers’ Index (PMI) stood at 55 index points in October 2017, indicating an expansion in the manufacturing sector for the seventh consecutive month.
The Central Bank of Nigeria (CBN), on Tuesday injected another $195 million into the interbank foreign exchange market.
The prospects are getting brighter for Oando Plc as the company has reported a profit after tax of N7.1 billion for the nine months ended September 30, 2017, compared with a loss of N35.886 billion in the corresponding period of 2016.
The Nigerian National Petroleum Corporation (NNPC) has given reasons why it went back to search for oil in the Benue trough, saying that Total, Chevron and Shell Nigeria Exploration and Production Company (SNEPCO) which had previously explored the region did not drill deep enough in their search for oil.
The Nigeria’s power sector lost 2,648.7 megawatts (mw) on the October 29 to line and gas constraints, according to the daily electricity generation report by the Federal Ministry of Power Works and Housing.
Following price gains recorded by many blue chip companies, trading on the Nigerian Stock Exchange maintained an upward trend yesterday, as investors’ wealth soared by 3.2 per cent in one month.
After several investments worth over $1 billion (N306 billion), the nation’s submarine cable system is still hampered by gross underutilization.
Three firms have raised objections to the temporary forfeiture of N1.4bilion, being part of Paris/London Club loan, to the Federal Government
The Federal Government has failed to fulfil its promise of submitting the 2018 budget proposal in October to the National Assembly.