The ministries of Finance and Budget and National Planning as well as the Debt Management Office have begun working on the details of President Muhammadu Buhari’s $29.96bn external borrowing plan following its rejection by the Senate on Tuesday.
The Ministry of Power got the highest amount of N209.24bn out of the total N753.6bn capital votes so far released by the Ministry of Finance to Federal Government’s Ministries, Departments and Agencies for the implementation of the 2016 budget.
The stock market (equities category) appreciated by N11bn as 18 stocks recorded gains amid 16 laggards.
The N52 billion owed agro dealers by the Federal Government under its Growth Enhancement Support (GES) scheme has stalled the distribution of farm inputs to farmers across the country, Chairman, Fertiliser Producer and Suppliers Association of Nigeria (FEPSAN), Thomas Etuh, has said.
Domestic airline operators in the country have appealed to the Central Bank of Nigeria (CBN), to allot the local industry at least $50million grant from the foreign exchange (forex) special intervention programme.
Barring any unforeseen circumstances, a portion of the new capacity being added at the Phase 4B area of the Onne Port Complex development Area in Rivers State will soon be put into commercial operations.
The Manufacturing Purchasing Manager’s Index (PMI) stood at 44.1 index points in October 2016, compared with the 42.5 recorded the preceding month.
Access Bank Plc plans to use part of a $300 million eurobond it issued last month to help repay an existing eurobond due to mature next year, the bank said on Tuesday.