Presidency, Soludo clash over Nigeria’s economic crisis
Mr. Soludo says Nigeria is not just in recession, but in a massive "economic compression".
Bassey Udo is PREMIUM TIMES' Business & Economy Editor. He has covered finance, energy, oil, gas & extractive industries for over a decade. He is a winner of the Wole Soyinka Award for Investigative Journalism, and the Thomson Reuters Foundation (Wealth of Nations) Award for Business Reporting. Bassey is an alumnus of the U.S. International Visitors Leadership Programme. Twitter: @ba_udo
Mr. Soludo says Nigeria is not just in recession, but in a massive "economic compression".
The law professor also criticised the Nigeria Customs Service for alleged corruption
The Niger Delta intervention agency denies corruption charge.
The NLNG said such amendment would, among others, reduce investor confidence.
The government’s immediate plan is to grow the country’s oil production from the current 2.2 million barrels to three million...
It would also grow its gas production capacity to 1,500 million standard cubic feet per day of gas.
A senator says there is nothing like Development Bank of Nigeria as of today.
The GDP contracted slightly better than IMF predicted.
Another country has applied to join OPEC, the official said.
The petroleum minister commended President Buhari for helping to elect the OPEC official.
Private sector organisations are partnering with the UN to support the achievement of the SDGs.
Okon Umana spoke on the achievements and challenges of Nigeria's oil and gas free zones.
The Central Bank also extended the cashless policy to all parts of the country.
Investments grew from N5.8 billion in 2015 to about N142 billion as at September 2016.
The state says it will also cultivate cocoa and maize.
The funds are coming through 23 banks.
The policy is to ease the difficulties Nigerians encounter in funding foreign exchange transactions.
The new policy was sequel to a directive on Thursday by the National Economic Council.
The CBN said such retail transactions would be settled at a rate not exceeding 20 per cent above the interbank...
Officials say between N20 and N25 is paid per by the national oil company.
The Authority is working on establishing three more in Ibaka, Ibeno and Ikot Abasi in Akwa Ibom state.
Attempt to amend the laws has come at the right time when government is focused on diversifying the economy.
Under the new arrangement, the airline would be managed by Roy Ilegbodu, a veteran aviation expert.
"Bio-fuels policy should reflect the concerns of funding, threats to food security, energy sustainability in the long term."
Oil price rose to $57.01 per barrel on Monday.
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