CBN Disbursements On 3.1m Projects Rise To N6.01trn         The Central Bank of Nigeria’s financial disbursements on about 3.1 million projects have risen to N6.01tn, the apex bank has said. It was learnt that the over three million projects were financed through 29 interventions, while the bank...

Nigeria’s Forex Reserves Drops By $132.06m       Nigeria’s foreign exchange (forex) reserves dropped by $132.06 million at the weekend as the apex bank continued to use the forex reserves as a buffer against currency depreciation despite slowdown in forex inflows. A report by investment banking group, Cordros...

Ibom Deep Seaport First Phase To Gulp $2bn, Says Commissioner         Akwa Ibom State Commissioner for Economic Development and Ibom Deep Sea Ports, Mr Akan Okon, has said the construction of the first phase of the Ibom Deep Seaport and Industrial City in the state would...

Electricity: Gas, Transmission, Distribution Facilities Hinder 10,106MW Generation         A total of 10,106.8 megawatts of electricity could not be generated by the nation’s power plants last week amid lingering challenges in the Nigerian electricity supply industry. Daily electricity generation in the country averaged 4,601.33MW last week as...

NAICOM Tasks Insurers On N463.1bn Annuity Business       The National Insurance Commission (NAICOM) has expressed worry over the declining participation of life companies in retiree life annuity (RLA) business, which is considered a huge opportunity for the industry. RLA is a pension benefit administered by life insurance...

Oil Marketers Seek FG's Approval To Fix Refineries       Oil marketers have expressed willingness and capacity to fix Nigeria’s dysfunctional refineries and get the facilities running in the shortest possible time. Operators of retail outlets in the downstream sector of the oil industry called on the Federal...