President Muhammadu Buhari has insisted that all rail projects across the country awarded by previous administrations must be resuscitated and completed before the end of 2019. According to the Minister of Transportation, Rotimi Amaechi, the President made it clear that all the affected rail projects must be completed by December 2019 as a result of the economic significance of railways …

The Federal Government, in a bid to boost oil revenue, is considering a new approach to resolving and sustaining peace in the troubled Niger Delta region. The approach, which will be tailored to address the specific needs of each state in the region, will complement ongoing efforts at the national level by ensuring that state governors, elders, youths and stakeholders …

Members of the House of Representatives on Monday expressed worry over the speed of work on the runway of the Nnamdi Azikiwe International Airport, Abuja, as they expressed fears that the rehabilitation exercise might not be completed on schedule. According to them, only 40 per cent of work on the runway has been completed since the rehabilitation process commenced three …

Sterling Bank Plc says it has attracted a $15 million facility from the Islamic Corporation for the Development of the Private Sector, a multilateral development financial institution and a part of the Islamic Development Bank Group. In a statement on Monday, the lender said the development was in recognition of its contribution to the growth of Islamic banking in Nigeria …

Unilever Nigeria Plc says it remains committed to sustainable growth and resilience, even under the current depressed economic conditions. The firm, which recently released its audited results for the year ended December 31, 2016, posted a N69 billion turnover, with a leap in profit after tax from its 2015 position of N1.19 billion to close the year with PAT of …

The Asset Management Corporation of Nigeria has recovered N681.5bn of non-performing loans in the last six years of its existence, the Managing Director/Chief Executive Officer of the corporation, Mr Ahmed Kuru, has said The recoveries, he said, were made from debtors in the form of cash, properties and shares. AMCON was set up in 2010 to absorb banking sector-wide NPLs …

A Memorandum of Understanding (MoU) for the supply of phosphate between Nigerian and Moroccan governments is expected to lead to the production of 1.3 million tonnes of fertilizer in the country. The Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Kacalla Baru, disclosed this while receiving the National Coordinator of the New Partnership for African Development (NEPAD-Nigeria), …

The Nigerian Incentive Based Risk Sharing System for Agricultural Lending (NIRSAL), plans to facilitate about N60 billion in fresh commercial bank lending to farmers in the current financial year. The agency also said it will execute the $300 million African Development Bank, AfDB’s Youth Enable Programme, and operationalising the $500 million Mechanisation Partnership with the Brazilian Government and a host …

The Petroleum Equalisation Fund (Management) (PEF) Board has vowed to punish any oil marketer who engages in falsification of documents for the movement of petroleum products in the country. Already, PEF has sanctioned 25 oil marketers for various offences aimed at defrauding the Federal Government through bridging claims. The offences ranged from changing of truck heads without getting clearance from …

The Association of Nigerian Exporters has commended the leadership of the Oil and Gas Free Zones Authority (OGFZA) for demanding a downward review of tariffs payable in the free zones. The Director General of the association, Prince Joseph Idiong, in a statement, said that the call for a downward tariff review by OGFZA at once reflects the sensitivity of the …