'Nigeria, Others Need $15.7bn To Upgrade Refineries'       African countries will need about $15.7 billion to upgrade existing 36 refineries on the continent to produce petroleum products that will conform with a planned level of sulphur content. African Refiners and Distributors Association (ARDA) disclosed that the $15.7...

PFAs Invest N8.3trn In FGN Securities       Pension Fund Administrators (PFAs) have invested N8.32 trillion in Federal Government’s Securities, out of the N12.39 trillion pension fund assets recorded as at April 2021. According to the National Pension Commission (PenCom) Monthly Summary Report released on April 26, 2021,...

Fed Govt Urges MDAs To Attract Foreign Investments       The Minister of Finance, Budget and National Planning, Zainab Ahmed has said it is important for government agencies to be committed to the pursuit of the earmarked 40 deliverables. She stated that attainment of these deliverables would guarantee...

$40bn Investments Needed To Boost Power Supply In Nigeria - FG       The federal government has said that there’s still a lot of financing gap in the country’s power sector, requiring an immediate funding of $40 billion in the generation, transmission and distribution value chain. The government...

Senate Probes NNPC’s Alleged Failure To Remit 10-year Stamp Duty       The Senate has launched a large-scale probe into the alleged non-remittance of the one per cent stamp duty on contracts awarded by the Nigerian National Petroleum Corporation from 2010 to 2020. The Committee on Finance, which...

FG Plans More Sukuk Bonds To Fund Projects       The Federal Government plans to upscale its alternative financing programme by issuing more Sukuk bonds to fund projects, building on the back of huge successes recorded on previous issuances. It had raised N362.6 billion in three previous issuances...