Sen. Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), has said that Nigeria’s crude oil production output target remained 2.5 million barrels per day (mbpd). He said this on Wednesday in Abuja at the Ministry of Petroleum Resources’ 2026 Management Retreat. The theme of the retreat is: “Driving Institutional Performance and Accountability in the Petroleum…
The International Monetary Fund said its executive board approved Rwanda’s request for a new 250 million U.S. dollars 38-month extended credit facility to help it deal with tighter global financial conditions. The global lender said in a statement that its board approved the new facility and authorised an immediate disbursement of 35.7 million U.S. dollars….
The Gov. Babajide Sanwo-Olu says Lagos is Africa’s foremost investment gateway, offering unparalleled opportunities for trade, innovation, infrastructure development and economic expansion across the continent. Sanwo-Olu spoke at the opening of the third edition of Invest Lagos Summit 3.0 where government officials, investors, development partners and business leaders gathered to explore opportunities across strategic sectors…
The World Bank has attributed the persistent challenges in Nigeria’s urban water supply sector to weak governance, political interference, low cost recovery, and infrastructure planning inefficiencies in spite of decades of investment. Ms Judith Warmate of the World Bank Nigeria Country Office said this on the sidelines of the Urban Water Supply Sector Report in Nigeria:…
Mr Osa Igiehon, Chief Executive Officer of Heirs Energies Ltd., has commended the company’s financing partners, advisers and stakeholders for their roles in securing a landmark US$750 million facility. Igiehon gave the commendation in a statement issued on Sunday in Lagos following international recognition for the financing transaction. He said the support received from partners…
The Bureau of Public Procurement (BPP) says the Federal Government’s affirmative procurement has increased participation of Small Medium Enterprises (SMEs) in public sector contracting. The Director-General of the Bureau, Dr Adedokun Adebowale, stated this at the 6th National Conference and Annual General Meeting of the Association of Public Procurement Practitioners of Nigeria (APPON), held at the…
Residents of Kano have raised concerns over the escalating cost of cooking gas, saying the sharp increase is straining household budgets and disrupting daily meal preparations. A survey conducted by the News Agency of Nigeria (NAN) revealed that the price of a 3kg cooking gas cylinder has risen from about N3,100 to N5,040 in recent…
African deposit and investment funds have endorsed the African Development Bank Group initiative aimed at reforming the continent’s financial architecture and reducing dependence on external financing. The endorsement was made during a session of the African Forum of Deposit Funds held on the sidelines of the 2026 AfDB Annual Meetings in Brazzaville. The session examined…
A former Director-General of the Securities and Exchange Commission (SEC), Malam Lamido Yuguda, has called on the government to align Public-Private Partnerships (PPPs) with monetary policy objectives to achieve better economic outcomes. Yuguda, currently Deputy Governor of the Central Bank of Nigeria (CBN), made the call at the 14th inaugural lecture of the Capital Market…
The Nigeria Employers’ Consultative Association (NECA) says businesses across the country are yet to fully experience the expected benefits of the Federal Government’s ongoing economic reforms. Mr Adewale-Smatt Oyerinde, Director-General of NECA, said this in an interview with the News Agency of Nigeria (NAN) on Sunday in Abuja while assessing the administration’s economic performance. Oyerinde…
