FG, World Bank sign risk guarantee agreement for $500m Calabar gas plant.
The Federal Government and the World Bank have signed a Partial Risk Guarantee (PRG) agreement for the supply of gas to the $500 million Calabar...
Panic Grips Market As Naira Further Depreciates Rapidly
The naira tumbled to N470 against the United States dollar on Wednesday, down from N455 on Tuesday as fresh dollar shortage hit the official and...
NNPC :It is no longer possible to sell petrol at N145 per litre
The Nigerian National Petroleum Corporation (NNPC) on Monday said the price of petrol cannot remain at N145 per litre, owing to the current exchange rate....
IMF Affirms Nigeria as Africa’s Largest Economy among Others
Despite facing its worst economic recession in 29 years, Nigeria has been affirmed by the International Monetary Fund (IMF) as the biggest economy in Africa...
Oil prices fall on higher OPEC production
Oil prices fell yesterday after the Organisation of Petroleum Exporting Countries (OPEC) said its production had risen to the highest level in at least eight...
CBN: we’re committed to exchange rate stability
The Director, Monetary Policy Department of the Central Bank of Nigeria (CBN), Moses Kpughur, has expressed confidence in the ability of the apex bank to...
IMF Introduces Zero Interest to Low Income Countries to Curb Poverty
The International Monetary Fund (IMF), has introduced zero interest rates on all its concessional facilities to low income countries until 2018. The Managing Director, IMF,...
Customs seizes 117,034 bags of rice
The Nigeria Customs Service (NCS), impounded 117,034 (50kg) bags of rice with duty paid value of N774,282,300 in the first three quarters of this year,...
Recession: EU chief advises Nigeria to devalue Naira
European Union (EU) official Fillippo Amato yesterday advised the Federal Government to devalue the Naira as part of measures to tackle the economic recession. Amato,...
Economic Growth: CBN Targets Foreign Investors
The Central Bank of Nigeria will pursue price stability as an anchor for economic growth and attract foreign investors as the country battles economic recession...