Tag Archives: nigeria

President Muhammadu Buhari’s anti-graft war has suffered a massive setback with the suspension of the Nigerian Financial Intelligence Unit (NFIU) from the Egmont Group, TheCable can report. And if Nigeria fails to comply with the group’s demands for a legal framework granting autonomy to the NFIU by January 2018, the country will be expelled from the global body which provides …

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Libya and Nigeria, which have both boosted oil production since they were exempt from global cuts this year, may be asked to cap their crude output soon in an effort to help re-balance the market, Kuwait Oil Minister Issam Almarzooq said. OPEC and non-OPEC producers have invited the two African nations to their committee meeting in St. Petersburg, Russia, on …

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The European Union (EU) has withdrawn financial support for Nigeria, saying the country has enough resources to meet her developmental needs. The Head of EU delegation to Nigeria and ECOWAS, Ambassador Michel Arrion, gave the charge thursday at an annual distinguished lecture organised by IBB Golf Club in collaboration with Foundation for Global Impact and Sustainable Development. He said what …

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The nation’s total indebtedness to foreign and local creditors now stands at N19.16tn, the Debt Management Office has said. This is N1.8tn increase from the N17.36tn recorded at the end of December 2016. As of March 31, 2015, the country’s total debt stood at N12.06tn. This means the debt level increased by N7.1tn in two years. Segmenting the national debt, …

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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), …

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The Indian High Commission has said that the total trade between Nigeria and India in the past one year has hit $643.3 billion Head of Chancery at the High Commission of Indian, Lagos, Mr. Jagdeep Kapoor, made this known at the Indian products and services exhibition held in Lagos. He said, “India as we know, is Nigeria’s largest trading partner. …

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Ghana’s President-elect, Nana Akufo-Addo, yesterday vis­ited President Muhammadu Buhari at the Presidential Villa, Abuja and pledged to improve ties between his country and Nigeria. Akufo-Addo also extend­ed birthday greetings to Bu­hari, who turned 74 on Sat­urday and shares same birth date with the president-elect’s mother. In a brief chat with State House correspondents after his meeting with Buhari, he said: …

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PUNCH *Buhari presents 2017 budget to N’Assembly today *FG, South Africa to implement mining pact *Ember months not for road accidents, says FRSC *Pastry producer tackles company over N8.6m generator *Panic as inmates escape from Owerri prison *Biafra: By the time I finish testifying there will be no Nigeria, Nnamdi Kanu tells Judge **Rivers United hit Madrid for pre-season www.punchng.com/ …

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  South African economy has regained the position of Africa’s largest in dollar terms, as the value of the nations’ currencies moved in opposite directions, this is coming barely two years after losing it to Nigeria. According to Bloomberg report, based on GDP at the end of 2015 published by the International Monetary Fund (IMF), the size of South African’s …

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By Friday Ekeoba The trade relationship between Nigeria and the UK may soon get a further boost, as the UK’s Prime Minister Trade Envoy to Nigeria, John Howell has called for more collaboration and strengthening of existing business opportunities between both countries. He said the Nigeria market with lots of business growth potentials remained untapped, noting that the British government is more than ever ready …

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