FG, China Sign $3.9bn Contract For Abuja-Itakpe-Warri Rail     The Federal Government has signed a $3.9bn contract with the China Railway Construction Corporation Limited for the construction of a new Abuja-Itakpe-Lokoja rail line. The rail line will pass through Baro and have a branch line to Lokoja,...

CAC Settles N1.2bn Salary, Pension Arrears     The acting Registrar-General, Corporate Affairs Commission (CAC), Lady Azuka Azinge, Wednesday said a nine per cent staff salary increment arrears which had resulted in industrial disharmony in the commission had been settled within her two years of assumption of...

In Nine Months, Power Sector Loses N472bn   The Nigerian electricity supply industry lost a sum of N472.23bn between January and September this year, according to reports put together by the Advisory Power Team in the Office of the Vice President. The daily reports of the power...

Nigeria Seeks To Recover $62bn From IOCs As Unpaid Profits     Nigeria is seeking to recover as much as $62bn from international oil companies, using a 2018 Supreme Court ruling that enables the Federal Government to increase its share of income from production-sharing contracts. The proposal comes...

Prolonged Low Rates Pose $19trn Default Risk Globally - IMF   The International Monetary Fund (IMF), has warned that while low rates are desirable for growth, prolonged periods of low rates, as seen in many advanced countries have negative side effects and unintended consequences. Warning that a...

Only N95m Disbursed From N2.5bn Minerals Fund, Minister Says   Only a sum of N95m has been disbursed from the N2.5bn Solid Minerals Development Fund, which was established in 2016. The fund was meant to build the capacity of Nigeria’s artisanal and small-scale miners in line with...