NEITI: Nigeria’s Indebtedness To IOCs In Cash-call Hits $3.501bn   Nigeria has significantly reduced the accumulated debt it owes International Oil Companies (IOCs) for cash-call for oil and gas production from $5.510 billion to $3.501 billion, the Nigeria Extractive Industries Transparency Initiative (NEITI) has said. NEITI, in...

$30bn Loan: MAN Worries Over FG’s Repayment Capacity   The Manufacturers Association of Nigeria (MAN) said it is concerned about the debt servicing capacity of the federal government if the National Assembly approves the planned $30 billion loan. The Director General, Segun Ajayi-Kadri told Daily Trust at...

UNIDO’s $60m Programme’ll Boost Nigeria’s Industrialisation, FG Says   The Federal Government has said that the new UNIDO Country Programme (2018-2022) will help Nigeria to achieve Inclusive and sustainable industrial development. The Minister of Industry, Trade and Investment, Niyi Adebayo, said this during a partnership round-table meeting...

AfDB Okays $210m For Nigeria’s Power Transmission Projects   The board of the African Development Bank has approved $210m (N64.26bn at the official exchange rate of N306 to $1) for power projects across the country being handled by the Transmission Company of Nigeria. The TCN said on...

FG Withdraws N35.51bn From States’ Allocations As Bail-out   The Federal Government deducted the sum of N35.51bn from allocation made to the states for external debt servicing, contractual obligations and others. The deductions, which were for the month of September, were made from the allocations given to...

Nigeria Set to Overturn P&ID’s $9.6bn Claim …As UK Court okays FG’s Plea   The Nigerian Government has moved closer to overturning the US$9.6 billion judgement debt awarded against it in favour of Process and Industrial Development Limited (P&ID) by a United Kingdom court in what is...