FG Projects $200bn Revenue from Lekki Port – Oyetola The Minister of Blue and Marine Economy, Mr Adegboyega Oyetola, has announced that the Lekki Port is projected to generate $200bn in revenue for the government over its 45-year concession period. In a statement on Wednesday, Oyetola...

Lokpobiri Reassures Commitment to OPEC Despite Rising Oil Output The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has assured that Nigeria remains fully committed to the rules of the Organisation of Petroleum Exporting Countries despite recent gains in crude oil output. Lokpobiri said...

Naira Holds Firm Against Dollar in Black Market The naira remained steady against the US dollar on Wednesday, August 20, retaining it's strength in the parallel market. Currency traders in Abuja told Economic Confidential that the naira exchanged at ₦1,535/$ for buying and ₦1,545/$ for selling,...

Abuja-Lagos 470km Superhighway to Cost $5bn - Contractors The contractors of the proposed 470-kilometre Abuja-Lagos Greenfield superhighway have revealed that the sum of 5 billion dollars would be earmarked for the construction of the project. The Minister of Works, David Umahi, had said the proposed project...

Arewa Economic Forum Alleges Targeted Removal of NTA Chief, Calls for Presidential Intervention The Arewa Economic Forum (AEF) is raising concerns over the alleged removal of Nigerian Television Authority (NTA) Director-General, Mallam Salihu Abdulhamid Dembos, calling on President Bola Ahmed Tinubu to intervene. The group...

Edun, Cardoso Vow Stronger Fiscal, Monetary Coordination The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, and the Governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, have pledged to strengthen coordination between fiscal and monetary authorities to consolidate Nigeria’s...