Economic Confidential

US Declares Borno, Adamawa, Rivers, Imo, 16 Other States Unsafe

The United States government, in its latest travel advisory to its citizens living in Nigeria, has listed 20 of Nigeria’s 36 states as unsafe and advised them to stay away from them. Among the 20, it cited Borno, Adamawa and...

Power Generation Steadies Around 3,000MW

The partial cessation in the disruption of oil and gas installations by vandals and the rise in water levels for hydroelectric plants have resulted in a steady increase in electricity generation in the last one month, according to operational...

Spain Buys €4.6bn Oil, Gas from Nigeria – Envoy

The Spanish Ambassador to Nigeria, Mr. Alfonso Barnuevo has said that his country was currently spending about €4.6bn (N1.6tn) on the purchase of Nigerian oil and gas. Barnuevo, who stated this when he paid a visit to the Group Managing...

Dangote Sugar Refinery Posts N11.1bn Q2 Profit

Nigeria’s sugar producer, Dangote Sugar Refinery, has announced a profit before tax of N11.1bn for the six months ended June 30, 2016. According to a statement from the firm, the unaudited results for the half year indicated that all performance...

NSA Office Arrests Seven for Diverting Explosives to Militants

Five security operatives, a storekeeper and an accomplice have been arrested for alleged diversion of 9,000 kilogrammes of high calibre explosives and over 16,420 pieces of detonators in the Niger Delta. The National Security Adviser, Maj.-Gen. Mohammed Monguno (retd.), said...

NEPC Targets Non-rejection of Nigeria’s Exports

The Nigerian Export Promotion Council is targeting ‘zero rejection’ of Nigeria’s exports in the international market and in line with this aim; it has been organising a series of capacity-building workshops for exporters to train them in standards and...
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