FAAC: FG, States, LGs Share N906.955bn for October   The Federation Account Allocation Committee (FAAC) has shared a total sum of N906.955 billion to the Federal Government, States and Local Government Councils for the month of October. A communique issued by the...

FG Considers Shipping Line to Capture $10bn Market   The federal government said it would consider the re-establishment of a national carrier for the nation’s shipping sector. It said the National Shipping Line will be established through a strategic Private Public Partnership...

FG to Sanitise Mining Sector, Revokes 1,633 Licences   The Federal Government through the Ministry of Solid Minerals Development has revoked 1,633 minerals titles previously given to non-complying mining companies. The Minister of Solid Minerals Development, Dele Alake, announced this during a...

Nigeria, Germany Sign $500m Gas, Renewable Energy Deals   In a significant move to strengthen economic ties, Nigerian and German companies sealed two pivotal agreements in Berlin on Tuesday. The accords valued at $500m, encompass a renewable energy pact and a gas...

Nigeria’s Rig Count Drops by 13% Nigeria’s rig count, a major index of measuring activities in the upstream sector, dropped month-on-month, MoM by 13.3 percent to 13 in October 2023, from 15 recorded in the preceding month of September 2023. This...

Nigeria Leads as Airlines’ Trapped Funds In Africa Hit $1.68bn - IATA   Foreign airlines’ trapped funds in Africa hit a record $1.68 billion by the end of September 2023 with Nigeria topping the list of debtors, the International Air Transport...