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China Announces $60bn Financing For Africa, Says No Strings Attached

China will extend a total of 60 billion U.S. dollars of financing to Africa, Chinese President Xi Jinping announced Monday, according to report. The financing will be provided in the form of government assistance as well as investment and financing by financial institutions and companies, Xi said in a keynote speech at

We’ve Done Far More Than Previous Govt — Osinbajo

VICE President, Prof. Yemi Osinbajo, has said President Muhammadu Buhari’s government has done more in terms of infrastructure development than the previous administration, despite earning little from the oil, which is the main stay of the economy. Osinbajo also said Buhari’s administration would continue to focus on the common man and

Buhari to commission $250m International Breweries in Ogun

President Muhammadu Buhari will on Tuesday, next week inaugurate the $250million state-of-the-art International Breweries in Ogun State. The brewery, said to be the biggest in West Africa, is located at kilometre 3, Flowergate Industrial Scheme, along the Abeokuta-Sagamu Expressway. The Plant Manager, Tony Agah, speaking to journalists at the premises of the factory,

Three years not enough to judge Buhari administration, says Tinubu

National leader of the ruling All Progressives Congress (APC) Bola Tinubu on Thursday said that the three years of President Muhammadu Buhari administration is not enough to re-engineer the country and judge its performance. President Buhari Buhari as an aspirant in 2015 campaigned on three key areas of reviving the country’s

FG launches operating surplus calculation

In a bid to ensure transparency, accountability and efficiency in management of public revenue collection and expenditure, the federal government has launched operating surplus calculation template. Nigerian Pilot gathered that the template was adopted by the Minister of Finance for use vides Federal Treasurer Circular Ref: No Try A108 BIO/2016 dated

Skye Bank’s Merchant Wins Award

Skye Bank mCash Merchant, Sulaiman Gidado, has emerged one of the top performing agents in the country. The Nigeria Inter-bank Settlement System (NIBSS), made this known when it identified Suleiman as one of the top mCash merchants at the mCash relaunch which held in Lagos recently. Part of the renewed efforts

Power sector loses N300bn in 7 months —Osinbajo

Nigeria power sector in seven months of 2018 has lost N300 billion due to insufficient gas supply, distribution and transmission infrastructure. A report obtained by Vanguard from the Office of the Vice President, Yemi Osinbajo, stated that “estimated amount lost to insufficient gas supply, distribution, transmission and water reserves to

FG to buy N17bn equipment to track fuel distribution

The Federal Executive Council on Wednesday approved the sum of N17bn for the installation of mechanism under the Petroleum Equalisation Fund to monitor fuel distribution and eliminate subsidy fraud. The Minister of State for Petroleum Resources, Ibe Kachikwu, disclosed this to State House correspondents at the end of the council’s meeting

Sell off leaves NSE 30 Index P/E at lowest since 2009

The recent equity market selloff has left the benchmark NSE 30 index trading at the lowest price to earnings (P/E) multiple in a decade.Investors use earnings multiples to judge whether a stock looks overvalued or undervalued. The P/E ratio for the NSE 30 which captures 96 percent of equity market capitalisation

CBN Pumps $23.2bn into Forex Market in 17 Months

The Central Bank of Nigeria (CBN) has injected a total of $23.257 billion into the interbank segment of the foreign exchange (forex) market since it commenced its intervention in February last year. The total amount of the weekly forex sales as of March 26 this year at $18.067 billion. The amount has,