Local Business

The Federal High Court sitting in Lagos has dismissed the three cases filed against the Securities and Exchange Commission (SEC) by BGL Plc and its chief executive, Albert Okumagba and the company’s subsidiaries.

Nigeria has lost about $7 billion or N2 trillion to militancy and pipeline vandalism since the beginning of the year says Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Maikanti Baru.

The attention of the Peoples Democratic Party (PDP) has been drawn to letters submitted by the Federal Government of Nigeria to the National Assembly seeking approval for an external borrowing of $29.960b, and movement of N180b appropriated for special intervention to funding of ‘critical recurrent and capital items’.

The Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, on Monday in India, negotiated a USD 15 billion investment with terms to be agreed, where the Indian Government would make an upfront payment for Crude purchase to Nigeria, to be repaid on the basis of firm Term Crude Contracts over some years and in consideration for Indian public …

The Minister of Finance, Mrs Kemi Adeosun, has accused western powers of being a stumbling block to Nigeria’s plan to improve power output through the use of coal. Adeosun said this on Wednesday in Washington during a discussion on the importance of addressing infrastructure gaps in developing countries at the World Bank, International Monetary Fund General Meetings.

Ifeanyi Onuba, Abuja The Minister of Finance, Mrs. Kemi Adeosun, has said that she cannot predict when the nation will get out of the current economic recession.

Everest Amaefule, Abuja The country’s debt profile has risen to N16.29tn, the Debt Management Office has said.

The Minister of Finance, Mrs Kemi Adeosun, has assured Nigerians that the current economic recession the nation was experiencing will not be prolonged.

UGHELLI-A militant group, Niger Delta Greenland Justice Mandate, NDGJM, in the early hours of Tuesday, blew up the Afiesere-Iwhrenene major delivery line to UPS/UQCC, operated by Nigeria Petroleum Development Company, NDPC/Shorelines Petroleum in Ughelli North Local Government Area of Delta State. The attack confirmed by a leader of the group, self-styled Gen. Aldo Agbalaja, came as the Niger Delta Avengers, …

—–Nigerian diaspora to benefit from increased competition in remittance market WorldRemit (www.WorldRemit.com/en/Nigeria), the leading digital remittance service, commends the restoration of money transfers to Nigeria, following the decision of the Central Bank of Nigeria (CBN) to approve WorldRemit and ten other international money transfer operators (IMTOs).