News

The African Development Bank (AfDB), CDC Group (managing DFID Impact Fund) and the Dutch Good Growth Fund (managed by Triple Jump) have joined existing co-sponsors of the Fund for Agricultural Finance in Nigeria (FAFIN) to drive agricultural transformation in Nigeria. The firms boosted the federal government’s initiative of a vibrant private sector-led agricultural financing by funding FAFIN to the tune …

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The Lagos State Police Command has dismissed a video footage making the rounds on social media about one of its officers using a Point-of-Sale machine popularly known as POS to extort a commercial motorcyclist. Its Public Relations Officer, ASP Olarinde Famous-Cole, on Wednesday said it was necessary to address the situation so as to clarify the account of how the …

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The outgoing Director General of Debt Management Office (DMO) Dr Abraham Nwankwo has assured Nigerian that his exit will not affect the performance of the agency, but rather they should expect better initiatives from the team he is leaving behind. Dr Nwankwo disclosed this on the floor of Nigerian Stock Exchange (NSE) at his validatory closing of the gong on …

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The Securities and Exchange Commission (SEC) has commended the Debt Management Office (DMO) on arrangements to issue the maiden N100.0 billion Sukuk in the Nigerian Capital Market. In a statement by the SEC “This is a major milestone for Nigeria as it will catalyze the development of non-interest capital market products.  The issuance of this Sukuk follows diligent advocacy efforts …

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Conoil Plc, the nation’s foremost indigenous petroleum marketer has declared a profit before tax of N4.28 billion for its last financial year. Overall, the company’s financial performance obtained on Wednesday, 21 June from the Nigerian Stock Exchange shows persistent resilience amidst challenging economic conditions in the country. The company’s result shows growth across all key financial indices. Its profit after tax increased …

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A House of Representatives ad-hoc panel has said that it would not accept a recent Executive order for the scrapping of the National Economic Reconstruction Fund (NERFUND). The ad-hoc committee investigating activities of Development Financial Institutions (DFIs) chaired by Rep Emeka Anohu (PDP, Anambra) said the recent directive that NERFUND’s operations be wound down and merged with the Bank of …

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The Kaduna Dry Port, when fully operational, will generate about 5,000 direct jobs and over 10,000 indirect jobs, the Executive Secretary, Nigeria Shippers Council Mr. Hassan Bello has said. Mr. Bello, who led the Minister of Transportation, Mr. Rotimi Amaechi and Kaduna State Governor Nasir El-Rufai and other stakeholders to an inspection tour of the facility that near completion in …

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Nigeria’s oldest energy company, Shell, has said it is reviewing its Nigeria strategy but that it does not involve quitting the country. The Country Chair of Shell Companies in Nigeria, Osagie Okunbor, said in a video post from Lagos, that Shell was in Nigeria to stay and wanted to continue, “to play this role well into the future.” Royal Dutch …

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  A market survey that The Nation embarked upon yesterday confirmed that the Nigerian National Petroleum Corporation (NNPC) mega station on Olusegun Obasanjo Way, Abuja sold the Automative Gas Oil (AGO) also known as diesel for N160 per litre. The Independent Petroleum Marketers Association of Nigeria (IPMAN) confirmed that its members have reduced the price of diesel to N170 per …

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The Bank of Industry (BoI) has unveiled an interest-free loan for women artisans, market women and small holder farmers under the National Women Empowerment Fund (NAWEF) intervention scheme by the Federal Government. According to the bank. NAWEF is an aspect of the Federal Government’s Social Investment (Intervention) Programme which is designed exclusively for women and administered by BoI to issue …

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