FG says Nigeria lost N4.3tn to oil theft in five years The Federal Government, on Monday, revealed that more than N4.3tn worth of crude oil was stolen in 7,143 pipeline vandalism cases within a period of five years. It disclosed this at the Nigeria International Pipeline Technology and Security Conference[Read More…]
FG to approve Seplat’s acquisition of $1.3 billion ExxonMobil assets Seplat Energy Plc, a leading Nigerian independent energy firm registered on the Nigerian Exchange Limited and the London Stock Exchange, has said that the federal government will approve the acquisition of $1.3 billion ExxonMobil’s shallow-water assets. The FG had previously[Read More…]
FG to revamp steel sector, overhaul MTI – Minister The Federal Government is set to revamp Nigeria’s steel sector to enhance the economy, create employment opportunities and speed towards industrialization. Nigeria’s Minister of State for Steel, Uba Maigari Ahmadu stated this during an official visit to Anambra State. [Read More…]
FG issues 94 import licences to oil marketers The Federal Government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority, said it has issued a total of 94 importation licences to oil marketers. Chief Executive, NMDPRA, Farouk Ahmed, disclosed this at the opening session of the ongoing 17th Oil Trading[Read More…]
FG rallies capital market to bridge Nigeria’s $3tr infrastructure gap • As indices dip by N7b amid losses in 19 stocks The Vice President, Kashim Shettima has called for active involvement of capital market stakeholder in bridging Nigeria’s $3 trillion infrastructure deficit. Besides, Shettima also urged various exchanges to develop[Read More…]
NCDMB, SON lead FG’s EO1 compliance report The Presidential Enabling Business Environment Council (PEBEC) has released its 2023 Biannual Executive Order 001 (EO1) Compliance Report, showing Nigerian Content Development and Monitoring Board (NCDMB), Standards Organisation of Nigeria (SON), and the Nigeria Agricultural Quarantine Service (NAQS) emerged as the top[Read More…]
FG to fund 53 road projects with N150b Sukuk bond The Federal Government has said that it will deploy the N150 billion that would be raised from the ongoing Sukuk bond issue to fund the construction of 53 road projects across the country. This was even as it[Read More…]
FG eyes infrastructure, non- oil export to drive economy The Federal Government has recommitted on infrastructural development and growth of the non- oil sector by putting measures in place to further expand the sector for foreign exchange earnings. Vice President, Senator Kashim Shettima lamented that the government cannot rely[Read More…]
FG targets 350GW of electricity by 2043 The Federal Government says its making plans to achieve a target of 350 gigawatts of electricity-generating capacity by 2043. The Minister of Budget and Economic Planning, Abubakar Bagudu, said this when top management staff of the Nigerian Electricity Management Service Agency visited him[Read More…]
FG earmarks N75 billion to support small businesses The Federal Government has set aside a N75 billion intervention fund to support small businesses in response to the country’s current economic challenges, The Guardian reported. The fund is expected to be disbursed, starting from March 2024 to strengthen the manufacturing[Read More…]
