Economic Confidential

RMAFC Backs FG on $15bn Cash-for-Oil Deal with India

The Revenue Mobilisation Allocation and Fiscal Commission has thrown its weight behind the move by the Federal Government to seal a $15bn future oil deal with the government of India. The Minister of State for Petroleum, Dr. Ibe Kachikwu, had...

Economic Diversification Not Achievable without Foreign Exchange, Says Dangote

...Plans to venture into dairy production The President, Dangote Group, Aliko Dangote has stated that Nigeria’s quest to diversify its economy away from crude oil cannot be achieved if there is little or no foreign exchange available for private sectors...

ATM Card Suspension: Banks Reject Naira for Visa Payment

Thousands of United Kingdom and Canadian visa applicants and intending travellers wanting to book hotels online were stranded as Deposit Money Banks stopped their naira debit cards from being used for dollar and other foreign currency-denominated transactions. The DMBs had...

NITDA Needs Knowledge, Creativity to Succeed – DG

The National Information Technology Development Agency requires a harmonious blend of knowledge and creativity to be able to achieve its mandate, the newly appointed Director-General of the agency, Dr. Isa Ibrahim, has said. Ibrahim said this while addressing workers of...

Adeosun: How We Secured Investors’ Commitments at IMF/World Bank Meetings

One week after the 2016 annual meetings of the International Monetary Fund (IMF)/World were concluded, the Minister of Finance, Mrs. Kemi Adeosun has explained that Nigeria was able to secure a profound commitment of international investors as a result...

FG Negotiates $15 Billion Investment in Oil and Gas India

The Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, has in India, negotiated a USD 15 billion investment with terms to be agreed, where the Indian Government would make an upfront payment for Crude purchase to Nigeria,...
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