The Minister of Finance, Wale Edun, has announced that the Nigerian government has begun the Naira-for-crude sale deal with Dangote Refinery from October 1, 2024. The minister disclosed this in a statement released on the official X account of the Ministry of Finance on Saturday. According to Edun, the commencement was in line with in …read more →
Author: Admin
Prolonged Monetary Tightening May Discourage Investment, Slowdown Growth, Rewane Warns
The Managing Director/Chief Executive Officer of the Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane, has warned that sustained monetary tightening could discourage investments and slow down economic growth. Rewane, therefore, called for an urgent handshake between the fiscal and monetary authorities to avert a situation where continued monetary tightening would lead to economic recession. …read more →
Bayelsa Govt Approves N61bn Variation on Nembe-Brass Road Project
The Bayelsa State Executive Council has approved N61billion as variation cost on the Nembe-Brass road project. Governor Diri, who disclosed this on Friday during an inspection of the project, said the council at its meeting on Wednesday approved a review of the construction cost, bringing it to N115billion.Twenty of the 21km of the first phase …read more →
African Oil Producing Countries Raise $5bn Capital for Abuja-Based Energy Bank
African oil-producing nations planning to launch a $5 billion energy bank next year in Abuja have already secured 45 per cent of the required startup capital. The bank aims to address the funding gap created by traditional investors shifting their focus from crude oil to low-carbon energy. According to Omar Farouk Ibrahim, Secretary General of the African …read more →
Lagos Secures €120m Dutch Support for Waste-To-Electricity Project
The Lagos State Government has received a €120 million support fund from the Dutch Government to support and enhance the actualization of its waste-to-energy project in collaboration with a Dutch firm, Harvest Waste Consortium. The Commissioner for The Environment and Water Resources, Tokunbo Wahab, disclosed this in a post on his official X.com According to Wahab …read more →
Shell Names Adams SNEPCo’s New MD
Shell has named a new Managing Director for its deep-water subsidiary in Nigeria, Shell Nigeria Exploration and Production Company Limited (SNEPCo.) He is Ronald Adams, formerly Chief Executive Officer of Atlantic LNG, Trinidad and Tobago. He takes over from Elohor Aiboni who proceeds on international assignment to Brunei Shell Petroleum (BSP) as Asset Director. Both …read more →
FG Plans Tax Incentives for MSMEs
The Federal Government has reaffirmed its commitment to supporting micro, small, and medium enterprises through tax incentives aimed at fostering growth and sustainability in the sector. This was disclosed recently by the Executive Chairman of the Federal Inland Revenue Service, Executive Chairman, Zacch Adedeji, who was represented by his special adviser, Collins Omokaro, at the …read more →
Multi-Sectoral Leaders to Grace 8th ACT Foundation Breakfast Dialogue
After seven (7) remarkable years of inspiring actionable solutions, and driving sustainable development in Africa, Aspire Coronation Trust (ACT) Foundation prepares to convene another transformative Breakfast Dialogue (BFD) on Thursday, October 10, 2024. Breakfast Dialogue has earned its place as a leading platform for thought leadership, and a cornerstone of meaningful conversations, drawing stakeholders …read more →
FG Begins Electricity Subsidy for Public Hospitals
The Federal Government said that it had begun the implementation of electricity subsidies for public hospitals nationwide. The Senior Adviser of Media and External Relations to the Coordinating Minister of Health and Social Welfare, Tashikalmah Hallah, told one of our correspondents on that subsidy on electricity for public hospitals had begun. Hallah also said the …read more →
Subsidy Savings: MAN Urges FG to Improve Infrastructure for Enhanced Manufacturing
The Manufacturers Association of Nigeria (MAN) has called on the Federal Government to utilize savings from subsidy reforms to improve infrastructure within industrial hubs, such as roads, electricity, and rail, to enhance manufacturing productivity. MAN made this call through the document signed by the Director General, Mr Segun Ajayi-Kadir, while reacting to the recent monetary …read more →