Nigeria currency reform delays $1.5bn World Bank loan
Aderemi Ojekunle
August 19, 2020
Charles Abuede A financing delay from the World Bank could leave Nigeria battered by low prices of crude oil, as the multilateral lender is probably not going to approve a genuinely necessary $1.5 billion for Nigeria in August as earlier arranged due to worries over desired reforms. Sources say they are not convinced about the […]
NAMA sets up air navigation unit as part of strategic growth plan
Businessam Staff, Mudashir TundeNovember 5, 2019
By Samson Echenim The Nigerian Airspace Management Agency (NAMA) has created a National Air Navigation Planning unit, vested with the mandate to oversee the domestication and replication of ICAO global and regional plans for the enhancement of air navigation in the country. The move is part of the government quango’d strategic growth plan. The […]
NDDC to build new Police headquarters, barracks in Bayelsa
Ben EguzozieJuly 20, 2019
The Niger Delta Development Commission (NDDC) says it has concluded plans to construct a new headquarters and Police barracks for the Bayelsa State Police command. Bayelsa, an oil-rich littoral state, with an estimated gross domestic product (GDP) of more than $5.517 billion as of 2016, was created in 1996 by late Sani Abacha, an Army […]
Algeria’s gov’t turns to Islamic finance, stock market to rescue ‘worrying’ economy
Businessam StaffSeptember 12, 2017
Algeria’s new government will introduce Islamic finance and develop its stock market to draw more investment into the economy as it struggles to cope with a sharp fall in energy earnings, according to an official document, Reuters reports. The measures are part of wider reforms by Prime Minister Ahmed Ouyahia’s government, which also said it […]
Corporate governance standards aiding growth in Nigeria, others – report
Niyi JacobsJune 27, 2017
The latest joint study by the Association of Chartered Certified Accountants (ACCA) and KPMG has revealed that the standards of corporate governance code practiced by majority of African countries have enhanced their economic prosperity and growth. The report specifically noted that 14 African countries, including Nigeria are now well aligned with the Organisation for Economic […]
Fashola’s claims on 2017 budget misleading – Nigeria Senate
Businessam StaffJune 25, 2017
The Nigeria Senate on Saturday warned Babatunde Fashola, Minister of Works, Housing and Power, to desist from spreading falsehood on the 2017 Budget with regards to projects under his ministry. It said that in passing the Appropriation Bill, the legislators worked and applied equity in provision for new and outstanding projects across the country. In […]
FG sells five to 20-year bonds at 16.9%
Obodo EjiroJune 22, 2017
The Federal Government through the Debt Management Office (DMO) sold five, 10 and 20-year bonds at a flat rate of 16.19 percent at an auction Wednesday. The DMO said the issuance of the bonds was to curtail borrowing costs and cash in on the declining inflation The debt office noted that it raised a total […]
Budget expectation concerns remain in Nigeria as oil producers vulnerable to attacks
Kelvin EgerueJune 13, 2017
Oil analysts have expressed concerns that the recently signed 2017 budget projections may fall short of full implementation going by the vulnerability of major oil producers in the country’s rich Niger-Delta to attacks. These attacks could lead to production cuts, thereby limit earnings for the prosecution of the budget, they said. In the Niger Delta […]
CBN to auction N1.24trn treasury bills in two months
Businessam StaffJune 9, 2017
The Central Bank of Nigeria (CBN) debt calendar for the third quarter on Friday has shown that it will auction N1.24 trillion ($4.1 billion) worth of treasury bills at its open market operations beginning June 15 to August 31 2017. A breakdown of the auctions include N226.64 billion in 91-day bills, N311.32 billion in 182-day […]
NOI Polls: Performance rating of President Muhammadu Buhari over the last two years
Businessam StaffMay 27, 2017