Economy Archives — Page 23 of 260

January 11, 2025 No Responses

TotalEnergies Constructs Gas Treatment Unit To Stop Flaring, Supply Power Plants

TotalEnergies (45%, operator) and its partners, Basra Oil Company (30%) and QatarEnergy (25%) on Friday launched the construction works of ArtawiGas25, a first processing facility for the associated gas from the Ratawi field, located in the Basra region of Iraq. According to the...

January 11, 2025 No Responses

INEC Proposes N126b Budget For 2025

The Independent National Electoral Commission (INEC) has proposed the sum of N126 billion for its 2025 budget. The Chairman of the Commission, Prof Mahmood Yakubu, made the presentation while defending the 2024 budget implementation before the National Assembl...

January 11, 2025 No Responses

NDDC Canvasses Support For The Elderly

The Executive Director of Corporate Services in the Niger Delta Development Commission, NDDC, Hon. Ifedayo Abegunde, has appealed to organisations and the elite to extend a hand of fellowship to underprivileged citizens. Abegunde said this when the NDDC top of...

January 10, 2025 No Responses

Tinubu Seeks Increase In China-Nigeria Currency Swap

President Bola Tinubu on Thursday urged the government of the People’s Republic of China to increase the $2 billion currency swap between Nigeria and China to enhance trade between the two countries. He also called for an upward review of...

January 10, 2025 No Responses

CBN Stops Extension Of Export Proceeds Repatriation

The Central Bank of Nigeria (CBN) has suspended approvals for the extension of export proceeds repatriation on behalf of exporters. This directive, which was issued through a circular dated January 8, 2025, take immediate effect. The suspension applies to both...

January 9, 2025 No Responses

Chinese Bank Approves $254.76m Loan For Kano-Kaduna Railway

The China Development Bank (CDB) has granted a loan of 245 million euros ($254.76 million) for the construction of the Kano-Kaduna railway project in Nigeria. A statement by the bank on Tuesday said the move was to provide financial support...

January 8, 2025 No Responses

ALGON Boss To FG: Implement LG Autonomy With Caution

The Chairman of the Association of Local Government Chairmen of Nigeria (ALGON), Kebbi State Chapter, Muhammad Ambursa, has revealed that some local government councils across the country would struggle to pay workers’ salaries without state government suppo...

January 7, 2025 No Responses

Equity Capital: GTCO Raises N209b In First Phase

Guaranty Trust Holding Company (GTCO) Plc has raised N209 billion out of its recent N400.5 billion public offer. GTCO had launched a public offer of 9.0 billion ordinary shares of 50 kobo each at N44.5 per share. In a statement...

January 6, 2025 No Responses

SERAP To NNPCL: Account For N825b, $2.5b For Refinery Repairs

The Socio-Economic Rights and Accountability Project (SERAP) has urged the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari to “account for and explain the whereabouts of the alleged missing N825bn and $2.5...

January 5, 2025 No Responses

SEC To Intensify Crackdown On Ponzi Schemes In 2025

The Securities and Exchange Commission (SEC) has emphasised that protecting investors remains a cornerstone of its mission, assuring that the Commission will intensify efforts to stamp out Ponzi and pyramid schemes while paving the way for legitimate investmen...

January 5, 2025 No Responses

PETROAN Seeks ₦100b Grant From FG

The Petroluem Products Retail Outlets Owners Association of Nigeria (PETROAN) has appealed to President Bola Tinubu to approve ₦100bn grant to help oil marketers stay afloat. In a statement on Saturday, titled PETROAN’S Retrospect of Nigeria’s Oil ...

January 4, 2025 No Responses

FCT Residents To Experience Two-Week Power Outage

The Abuja Electricity Distribution Company (AEDC), on Friday, announced that some residents of the Federal Capital Territory (FCT) , Abuja will experience power outages between January 6 to 31, 2025. A press statement issued on the AEDC official X handle,...

January 3, 2025 No Responses

Fubara Signs ₦1.1tri Rivers 2025 Budget Into Law

Rivers State Governor, Siminalayi Fubara, has signed the state’s 2025 budget worth N1.1 trillion into law. The budget, christened ‘Budget of Inclusive Growth and Development,’ was presented before the Victor Oko-Jumbo-led State House of Assembly on Decem...

January 2, 2025 No Responses

Tinubu Tasks Govs On Grassroot Development

President Bola Tinubu has tasked the 36 state governors with leading development at the grassroots, saying the financial autonomy granted to local governments is not an attempt to snatch the third tier of government from governors. The President said the...