$652m needed to reactivate, complete Ajaokuta steel plant – Audit

According to the information sourced from the company’s website in Abuja on Monday, the audit was conducted in April 2018 by Nigerian engineers, technicians, and other professionals as well as two Ukrainian experts in steel plant. Click here for more.

Oil Giants Note — Nigeria Now Has a Chance to Open Its Fields

Investors’ 11-year wait for the Nigerian government to open up Africa’s biggest crude industry may be over. An overhaul of oil policy that’s been in the works for more than a decade is among a raft of laws President Muhammadu Buhari could steer through parliament in his second term to help drive investment in the oil-dependent economy. Click here for more.

NNPC Awards Crude-For-Fuel Swap Contracts

A total of 15 groupings, with at least 34 companies in total, received award letters, four sources with knowledge of the deals were quoted as saying.  The letters were said to have been circulated on Monday. Click here for more.

NCC remits N51.3bn to FG in three months

The Nigerian Communications Commission says it remitted N51.3bn to the Consolidated Revenue Fund of the Federal Government in the first quarter of 2019. The remittance, according to the Executive Vice-Chairman, NCC, Prof. Umar Danbatta, is in compliance with the Fiscal Responsibility Act of 2007 (FRA 2007). Click here for more.

Nigeria Needs Radical Industrialisation, NECA Tells FG

The Nigeria Employers’ Consultative Association has urged the Federal Government to reassess its strategies and tailor its policies and reforms towards a radical industrialisation of the country. Click here for more.

Market Maintains Negative Posture as NSEASI Dips By -0.79% To Open The Week Negative

Equities market closed yesterday on a negative note, as NSEASI depreciated by 0.79% to close at 28,341.03 points as against 0.51% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -9.83%. Click here for more.

CBN Unveils University-based Poultry Revival Program

In fulfilment of its resolve to diversify the economy, create jobs and engender inclusive economic growth in the country, the Central Bank of Nigeria (CBN) has launched an intervention programme aimed at reviving the comatose poultry sub-sector in the country.  Click here for more.

I&E Forex Window Attracts $18.79b In Seven Months

The Investors and Exporters (I&E) Foreign Exchange Window has attracted $18.79 billion from foreign investors in the last seven months, a report from research unit, Coronation Merchant Bank, has shown. The window is also called the Nigerian Autonomous Foreign Exchange (NAFEX). Click here for more.

Headline Inflation Increases By 11.22% YoY in June 2019; 0.18% Lower Than May 2019 Rate

The consumer price index, (CPI) which measures inflation increased by 11.22 percent (year-on-year) in June 2019.  Click here for more.

Inflation Gap Is a Reminder to Nigeria That Egypt Got It Right

One of the clearest signs that Egypt is starting to reap the economic benefits of a currency float more than three years ago came last week. Nigeria, which took a different path when faced with similar problems. Click here for more.

Value Of Electronic Payment Transactions Rise In H1’19

The volume and value of electronic payment transactions rose in the first half of 2019 (H1’19) as Nigeria Interbank Settlement System (NIBSS) Instant Payment (NIP) recorded the highest transactions with N7.9 trillion during the period. Click here for more.

Utomi, Fajemirokun, others advise entrepreneurs on business success

Stakeholders from different spheres of the economy have advised entrepreneurs in the country on how to achieve success in business. The stakeholders spoke during the unveiling of a book written by a business tycoon, Chief Oladele Fajemirokun, titled ‘The Making of Me: My Odyssey in Business,’ in Lagos on Monday. Click here for more.