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Local Business

PDP opposes plans by Buhari to borrow $29.960b

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’.

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Kachikwu negotiates $15b advance payment for crude oil deal with India

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 …

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Finance Minister accuses western powers of blocking Nigeria’s effort to generate power from coal

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.

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