Dangote offloading assets; sells noodle plants for $12m to Indomie

Dangote Noodles Limited, a unit of Nigerian company Dangote Flour Mills, has sold two production lines

Dangote offloading assets; sells noodle plants for $12m to Indomie

Dangote Noodles Limited, a unit of Nigerian company Dangote Flour Mills, has sold two production lines to rival pasta maker De United Foods Industries for N13.75 billion ($12.26 million), the company said on Tuesday. De United said it has signed an agreement with Dangote Noodles to buy plants at its Ikorodu and Calabar factories. It […]

N305/$1… 12 things to know about Budget 2018

President Muhammadu Buhari presented a budget proposal of N8.6 trillion before a joint session of the national assembly on Tuesday.

N305/$1… 12 things to know about Budget 2018

President Muhammadu Buhari presented a budget proposal of N8.6 trillion before a joint session of the national assembly on Tuesday. Tagged: ‘Budget of Consolidation’, Buhari expressed optimism that the budget would transform the country for the better. He appealed to members of the national assembly to treat the budget estimate with all seriousness so that the […]

$250m World Bank grant for Nigerian youths about to be looted

The World Bank said that Nigeria had so far accessed less than US$50 million out of the US$300 million earmarked by it for youth empowerment and other social works in the country.

$250m World Bank grant for Nigerian youths about to be looted

The World Bank said that Nigeria had so far accessed less than US$50 million out of the US$300 million earmarked by it for youth empowerment and other social works in the country. The World Bank’s Nigeria Lead Social Protection Specialist, Mr Foluso Okunmadewa said this on Monday in Abuja at the Youth Employment and Social Support […]

Our economic strategy will fast-track development — FG

Finance Minister, Mrs. Kemi Adeosun has expressed confidence that the Federal Government’s revenue and debt management strategy would mitigate the country’s debt service risk and fast-track her development.

Our economic strategy will fast-track development — FG

Finance Minister, Mrs. Kemi Adeosun has expressed confidence that the Federal Government’s revenue and debt management strategy would mitigate the country’s debt service risk and fast-track her development. The Minister, who welcomed the advice of Nigeria’s international development partners, including the International Monetary Fund, said the strategy would achieve a number of objectives that included […]

Nigeria to build nuclear power plant

Nigeria have signed agreements for the construction and operation of a nuclear power plant and research centre in Africa’s biggest economy, Rosatom said on Monday.

Nigeria to build nuclear power plant

Russia’s state-owned Rosatom and Nigeria have signed agreements for the construction and operation of a nuclear power plant and research centre in Africa’s biggest economy, Rosatom said on Monday. “The development of nuclear technologies will allow Nigeria to strengthen its position as one of the leading countries of the African continent,” Anton Moskvin, Rosatom’s Vice […]

Germans ToBe Paid to Use Electricity

First time whole-day electricity price below zero this year Wind records broken as the cost of the technology falls

Germans ToBe Paid to Use Electricity

First time whole-day electricity price below zero this year Wind records broken as the cost of the technology falls German power producers are poised to pay customers to use electricity this weekend.  Wind generation is forecast to climb to a record on Sunday, creating more output than needed and driving electricity prices below zero, broker […]

Solar-powered tricycles now on sale

A Nigerian company, Oldang International Limited on Sunday launched the sale of solar-powered tricycles to enhance public transportation in the country.

Solar-powered tricycles now on sale

A Nigerian company, Oldang International Limited on Sunday launched the sale of solar-powered tricycles to enhance public transportation in the country. The company’s Chief Executive, Mr Olubunmi Oluwadare said at the launch in Lagos that the solar-powered, fuel-less tricycle, popularly called “keke”, would gradually phase out petrol engine tricycles across the country “Oldang Electric solar-powered […]

Buhari wants to borrow to service Goodluck Jonathan’s debts – Adeosun

Kemi Adeosun, minister of finance, says the federal government will spend $3 billion refinancing debts from the administration of former President Goodluck Jonathan.

Buhari wants to borrow to service Goodluck Jonathan’s debts – Adeosun

The Minister of Finance, Kemi Adeosun, has revealed that the federal government would apply $3 billion in refinancing the legacy debts of the immediate past government of Goodluck Jonathan. According to Adeosun, the outlay is part of the $5.5 billion foreign loan being sourced from the International Financial Markets. The Minister, who appeared on Arise […]

Food prices on the increase despite drop in inflation

Despite Nigeria’s inflation rate downward trend and decline to 15.98 percent from 16.01, food prices have continued to rise.

Food prices on the increase despite drop in inflation

Despite Nigeria’s inflation rate downward trend and decline to 15.98 percent from 16.01, food prices have continued to rise. The National Bureau of Statistics in the Consumer Price Index report released on Tuesday measures the inflation with the rate dropping year-on-year from 16.01 per cent in August to 15.98 per cent in September. This is […]

Nigerians need to accept more debts as part of the system – Adeosun

Kemi Adeosun, minister of finance, says Nigerians need to tolerate more debts to allow the Muhammadu Buhari-led administration deliver on its plans for the country.

Nigerians need to accept more debts as part of the system – Adeosun

Kemi Adeosun, minister of finance, says Nigerians need to tolerate more debts to allow the Muhammadu Buhari-led administration deliver on its plans for the country. The minister made this statement on Sunday at a joint press conference with Godwin Emefiele, governor of the Central Bank of Nigeria, in Washington DC. “Nigeria’s debt to GDP ratio […]

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