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We’ll consider Nigeria’s $400m loan request, says AfDB

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.

Nigeria jumps 24 places in ease of doing business

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.

Shell, Eni may face trial over $1.3bn Nigerian deal

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.

N797bn VAT revenue recorded in 10 months – Adeosun

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.

Oil price rises to $61 per barrel

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.

This Day

Again, Nigeria’s Manufacturing Index Sustains Expansion

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.

CBN Pumps Another $195m into Forex Market

The Central Bank of Nigeria (CBN), on Tuesday injected another $195 million into the interbank foreign exchange market.

Oando Records N7.1 Billion Profit After Tax in Q3

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.

NNPC: Why We Went Back to Oil Exploration in Benue Trough

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.


Nigeria loses 2,648.7mw to gas, line constraint

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.

Investors’ wealth appreciates by 3.2% in one month

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.

Submarine cable system underused after $1b investment

After several investments worth over $1 billion (N306 billion), the nation’s submarine cable system is still hampered by gross underutilization.

The Nation

Paris/London Club loan: Firms oppose temporary forfeiture of N1.4b

Three firms have raised objections to the temporary forfeiture of N1.4bilion, being part of Paris/London Club loan, to the Federal Government

Business Day

FG fails to meet deadline for 2018 budget proposal

The Federal Government has failed to fulfil its promise of submitting the 2018 budget proposal in October to the National Assembly.

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