In the news: FG to borrow N110bn via bond auction
The Federal Government is planning to raise N110bn by selling sovereign bonds with maturities of five and 10 years on January 24.
After a year of ceasefire, militants under the aegis of the Niger Delta Avengers on Wednesday threatened to attack some offshore oil and gas facilities in the oil-rich region in a few days’ time.
The Ministry of Budget and National Planning on Wednesday said contrary to claims that the 2018 budget was filled with suspicious items, there were no expenditure items in the fiscal document that were wasteful in nature.
The House Representatives on Wednesday asked the National Petroleum Investment Management Services to re-award its $260m Joint Venture contract to a Nigerian company, Tilone Subsea Limited.
Despite N298bn appreciation recorded in the country’s equities market, Nascon Allied Industries Plc, Cadbury Nigeria Plc and University Press Plc closed in losses at Wednesday’s trading.
The Senate on Wednesday rejected the report by its Committee on Petroleum (Downstream), which probed the current scarcity of Premium Motor Spirit (petrol) in the country.
The bank in its 2018 African Economic Outlook projected Nigeria’s economic growth at 2.1 per cent in 2018 and 2.5 per cent in 2019.
The Minister of State for Petroleum Resources, Dr Emmanuel Ibe Kachikwu, said the country is aiming to achieve oil production of 1.8 million barrels daily by March and will prefer oil prices to stay in the $60 range.
At last the House of Representatives on Wednesday passed the bill for an Act to provide for the Governance and Institutional framework for the Petroleum Industry and for other related matters, through third reading.
The naira on Wednesday depreciated to N360.56 per dollar in the Investor and Exporter window, in spite of 98 per cent increase the volume of dollars traded.
Nigeria’s central bank governor expects the Monetary Policy Committee to hold its main interest rate at next week’s meeting.