FEC Approves $125m IsDB Loan for Abia’s Infrastructure Development Abia State Government has received approval from the Federal Executive Council (FEC) for a $125 million loan from the Islamic Development Bank (IsDB) to fund its Integrated Infrastructure Development Project. The announcement...

Okonjo-Iweala Applauds Tinubu on Economic Reforms, Stability The Director-General of the World Trade Organisation, Dr. Ngozi Okonjo-Iweala, on Thursday commended President Bola Tinubu for working to stabilize Nigeria’s economy, saying reforms under his administration are moving in the right direction. Speaking...

Naira Depreciates to 1560/$ in Black Market  The naira extended its decline against the US dollar on Thursday, August 14, marking a sustained fall in the parallel market since trading resumed on Monday. Currency dealers in Abuja told Economic Confidential that...

CNG Attracts N1.5trn Investment in 18 Months - Report The Presidential Compressed Natural Gas Initiative (PCNGI) has stated that since the introduction of CNG in the country, it has attracted $980m (N1.504trn) investment in 18 months. Speaking during the launch of...

Fix PHarcourt Refinery or Resign, Marketers Warn Ojulari Oil marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria (IPMAN) have asked the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, Bayo Ojulari,...

FG Funds 2024 Capital Projects with 2025 Revenue – DG Budget The Director-General of the Budget Office of the Federation, Dr. Tanimu Yakubu, said the federal government is funding the capital component of the 2024 budget using revenue accrued under...