Friday, November 16, 2018
Advertisement
    FG to increase power generation to 9000MW by December

FG to increase power generation to 9000MW by December

The federal government says it will increase power generation to 9,000 megawatts by the end of 2018.Lai Mohammed, minister of information, made this known on Tuesday while speaking at a NAN Forum in Abuja.The minister said the government will add 2,000 megawatts to the current 7,000 capacity.Mohammed said the government will also embark on 90 power transmission projects nationwide to [...]

0 comments Read Full Article
    Nigeria to resume export of ‘zobo’ leaves to Mexico

Nigeria to resume export of ‘zobo’ leaves to Mexico

The Nigeria Agricultural Quarantine Service (NAQS) says Nigeria is set to resume the export of hibiscus, locally known as zobo, to Mexico.Vincent Isegbe, coordinating director, NAQS, disclosed this in an interview with NAN on Tuesday.He said export of the plant was suspended after storage pests were discovered in some consignments that were to be shipped out of the country.He explained [...]

0 comments Read Full Article
    Presidential candidate speaks on plans to remove obstacles to investment

Presidential candidate speaks on plans to remove obstacles to investment

Gbenga Olawepo-Hashim, presidential candidate of the Peoples Trust (PT), says his party's new Nigerian economic development plan will create $4 trillion GDP in 10 years.In a statement on Monday, Olawepo-Hashim said his party has a target to net five percent of global infrastructure funds in 10 years by removing obstacles to investments.He added that if the party is elected in [...]

0 comments Read Full Article
    Ogaji: DisCos owing power generation firms N500bn

Ogaji: DisCos owing power generation firms N500bn

Joy Ogaji, executive secretary of Association of Power Generation Companies (APGC), says the Nigerian Bulk Electricity Trading (NBET) is yet to pay the N500bn debt owed by electricity distribution companies (DisCos).Speaking with reporters in Abuja on Sunday, Ogaji said power firms have been taking loans from banks to be able to generate electricity.She said the federal government has only paid 80 [...]

0 comments Read Full Article
    Labour strike: No need for panic buying of petrol, says NNPC

Labour strike: No need for panic buying of petrol, says NNPC

The Nigerian National Petroleum Corporation (NNPC) has assured motorists that it has adequate petroleum products that will serve the nation, irrespective of the proposed strike by the Nigerian Labour Congress (NLC).The corporation gave the assurance in a statement by Ndu Ughamadu, its spokesman, in Abuja on Sunday.“The corporation had 39 days petroleum products sufficiency and about 25 days products availability [...]

0 comments Read Full Article
    Two global banks close Nigerian offices

Two global banks close Nigerian offices

Global banking giant HSBC and UBS, a Swiss private bank, have closed their representative offices in Nigeria.The Central Bank of Nigeria (CBN) announced this in a report on Friday. The report did not state why the banks closed shop.UBS opened its doors in Nigeria in mid-2014 to “connect prospective clients with its offshore centers in Switzerland, the UK, Dubai and [...]

1 comment Read Full Article
    US, UK say MTN’s troubles discouraged potential investors

US, UK say MTN’s troubles discouraged potential investors

John Bray, US consul general, and Laura Beaufils, British deputy high commissioner to Nigeria, say the issues faced by MTN in recent times sent bad signals to foreign investors.The US and UK envoys made the assertion on Thursday on the sidelines of a conference organised by the Lagos Chamber of Commerce and Industry (LCCI) during the 2018 Lagos International Trade [...]

1 comment Read Full Article
    Finance ministry: We’re not aware of alleged $3.5 billion subsidy fund

Finance ministry: We’re not aware of alleged $3.5 billion subsidy fund

The federal ministry of finance has denied knowledge of a $3.5 billion fund allegedly kept and utilised by the Nigeria National Petroleum Corporation (NNPC) for fuel subsidy.Mahmoud Isa-Dutse, permanent secretary, gave the ministry’s position when he appeared before the senate ad hoc committee probing the allegation in Abuja on Thursday.Isa-Dutse’s claim appeared to corroborate Maikanti Baru, the group managing director [...]

0 comments Read Full Article
    Atiku will reduce petrol pump price to N90 per litre, says PDP

Atiku will reduce petrol pump price to N90 per litre, says PDP

The Peoples Democratic Party (PDP) says its presidential candidate will reduce the cost of premium motor spirit (PMS), popularly know as petrol to N87-N90 per litre.In a statement by Kola Ologbondiyan, spokesman of the Peoples Democratic Party (PDP) on Thursday, the party said former vice-president Atiku Abubakar had consulted with international players in the oil industry and found that the [...]

1 comment Read Full Article
    Aquitane: We’re not owing AMCON

Aquitane: We’re not owing AMCON

Aquitane Oil and Gas Limited says it is not indebted to the Assets Management Corporation of Nigeria (AMCON).In a letter sent to TheCable and signed by Ikechukwu Okolo, its managing director, the company said its name was erroneously included in the list of 105 delinquent debtors published by AMCON."We wish to draw to your attention to this publication and at [...]

0 comments Read Full Article
Advertisement
Advertisement
Advertisement

Exchange Rates

November 16, 2018USDGBPEUR
INTERBANK306397354
LAGOS359475418
KANO359476420
PH360476420
ABUJA359478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement
Advertisement
Advertisement
Advertisement