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Nigeria plans to spend $20 billion on infrastructure over the next 10 years and will introduce an infrastructure bond in 2019 as Africa’s biggest oil producer seeks to address challenges in revenue generation. “Our target is that we’d like to see infrastructure spending increase to the $10- to $20-billion range over the next 5 to […]

Oil prices dropped on Thursday, extending losses into a second consecutive session, following a surprise build in U.S. crude inventories. International Brent crude oil futures were at $67.56 a barrel at 0748 GMT, down 27 cents, or 0.4 per cent, from their last close. Brent closed down 0.2 per cent on Wednesday. U.S. West Texas […]

Godwin Emefiele, the governor of Central Bank of Nigeria (CBN), has unveiled plan to extend the cashless policy nationwide almost two years after the policy was halted. Emefiele said all necessary structures have been put in place to improve banking services in the country. He made this remark Wednesday during the First Bank of Nigeria’s […]

The Debt Management Office on Wednesday said that FGN Bonds offered to investors for the month of March was oversubscribed by N140bn.  In a statement made available to our correspondent in Abuja, the DMO said it offered N100bn bonds but received a subscription of N240.6bn.  The DMO said, “The FGN Bond auction for March 2019 […]

The Federation Accounts Allocation Committee on Wednesday distributed the sum of N619.85bn to the three tiers of government.  The amount was shared from the statutory revenue generated in the month of February, and other sources.  Addressing journalists shortly after the meeting which was held at the headquarters of the Ministry of Finance, the Director of […]