Recent report released by Financial Derivatives Company, an economic and financial research firm, says Nigeria requires $15bn (N4.59tn at N306 to a dollar) worth of investments annually for 15 years in order to adequately develop its infrastructure nationwide. In its latest bi-monthly Economic and Business report for February 2018, the FDC stated that the underinvestment in infrastructure in Nigeria over the years had widened the infrastructural gap across the country.

The House of Representatives on Thursday mandated its Aviation committee to begin a holistic investigation on the technical and operational status of registered commercial and private aircraft operating in the country. The decision followed a motion moved at plenary by Hon. Abubakar Amuda-Kannike. He had explained that the investigation was necessary to mitigate air mishap, enhance smooth operations and ensure compliance to safety standards and international practices.

President of Trade Union Congress of Nigeria (TUC), Bobboi Kaigama, on Saturday lamented that 35 states in Nigeria cannot pay workers regular salaries, stressing that the development has subjected workers to untold hardship. He stated this on the sideline of the National Executive Council (NEC) meeting held in Lagos. According to him;

The Federal Government on Thursday said that it sold N79.62 billion worth of bonds during its February auction. According to a circular posted on the website of the Debt Management Office (DMO), N27.18 billion worth of the bonds were allotted at 14.50 per cent in 31 successful bids to mature in July, 2021. The amount allotted for the notes was lower than the N50 billion which was originally offered.

The Central Bank of Nigeria (CBN) will on Monday, February 26, 2018 hold a Tweet meet aimed at informing and educating Nigerians on the efforts being made by the Bank to grow the economy especially against the backdrop of the Country’s exit from recession in the last quarter of 2017.

The Nigerian President, Muhammadu Buhari, has cautioned member countries of the Economic Community of West African States (ECOWAS) against forcing through the planned currency integration in the sub-region by 2020.

President Buhari, who was represented by the Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, issued the warning on Tuesday, February 21, 2018, during the 5th meeting of the Presidential Task Force on ECOWAS Currency Programme in Accra, Ghana, noting that

Heads of Government had not properly articulated and analysed a comprehensive picture of the state of preparedness of individual countries for monetary integration by 2020.

The contract termination controversy between INTELS Nigeria Limited and the Nigerian Ports Authority (NPA) may be eased off following the payment of $42.6 million (N13.2 billion) by INTELS into the NPA’s Treasury Single Account (TSA). The Managing Director of NPA, Hadiza Bala Usman,

The federal government says investors in modular refineries will get tax relief and other waivers to reduce their costs.

Speaking at the ongoing Nigerian International Petroleum Summit on Wednesday, the senior special adviser on refinery, downstream and infrastructure to the Minister of State for Petroleum Resources, Mr. Rabiu Suleiman, said the federal government is ready to assist investors.

Suleiman said modular refineries will address concerns of daily growing consumption of premium motor spirit and reduce fuel importation.

The Federal Government earned N254.10 billion from Value Added Tax (VAT) in the fourth quarter of 2017, the National Bureau of Statistics (NBS) stated this on Thursday.

The NBS stated this in its “Sectoral Distribution of VAT Data for the fourth quarter, 2017’’ posted on its website.

The Bureau stated that the N254.10 billion VAT collected in the fourth quarter was higher when compared with the N250.56 billion generated in the third quarter of 2017, and N207.35 billion in fourth quarter 2016.

Transactions on the Nigerian Stock Exchange ended on a cautious note on Wednesday with the All-Share Index increasing marginally by 0.02 per cent. The index rose by 9.92 points or 0.02 per cent to close at 42,158.32 compared with 42,148.40 achieved on Tuesday due to marginal price growth by blue chips.