FG Suspends New Approvals For Tank Farms In Apapa,

The federal government has announced the suspension of further approvals for tank farms in Apapa, Lagos, as part of plans to de-congest the axis.

The Federal Government on Monday announced that it had recovered 64.6 million dollars electricity debt from its international customers.

Minster of Power, Works and Housing, Babatunde Fashola announced this at the 21st monthly power sector meeting in Asaba.

Fashola, in a text of his opening remark made available to the News Agency of Nigeria (NAN) in Abuja, said that the money recovered was from Benin and Niger Republics.

SON Rates Made-In-Nigeria Cables High

The Director General/CEO of Standard Organisation of Nigeria (SON), Mr. Aboloma A. Osita, has said that some made in Nigerian products are world best and that Nigerians should not be afraid of her products and services.

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has predicted that the nation’s external reserves will hit $40bn in 2018.

Emefiele, who gave this forecast at the weekend in Lagos during the annual bankers’ dinner of the Chartered Institute of Bankers of Nigeria (CIBN), said the reserves would continue to grow as they “have recovered significantly from just over $23 billion in October 2016 to over $34.3 billion as of November 3, 2017.”

The National Bureau of Statistics (NBS) said on Wednesday in a report that annual inflation in Nigeria slowed for the ninth month in a row in October, easing to 15.91 percent.

A separate food price index showed inflation at 20.31 percent in October, compared with 20.32 percent in September.

The Minister of Transportation, Mr Rotimi Amaechi on Saturday said General Electric (GE) was investing 2.7 billion dollars on infrastructure, Operation and Maintenance (O and M) of the entire narrow gauge lines concession.

Amaechi made this known in an interview with the News Agency of Nigeria (NAN) while giving account of his stewardship in the last two years in Lagos. According to him, GE is investing 700 million dollars on infrastructure, with two billion on O and M.

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 3.75 billion naira ($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 would also buy stock worth 383.94 million naira.

The federal government has rejected the call to extend the deadline for the execution of the Voluntary Assets and Income Declaration Scheme (VAIDS).

The scheme is a voluntary self-assessment and tax compliance window for individuals and business entities to pay appropriate tax arrears or face criminal prosecution at the end of the scheme scheduled for March 2018.

The Kwara Government has disbursed over N1billion to 500 smallholder farmers and 40 commercial farmers to boost agriculture and food security in the state.

Gov. Abdulfatah Ahmed of Kwara made this known on Monday in Ilorin, while speaking at the 2nd Harmony Agriculture International Fair (HAGIF).

Brazilian state-run integrated energy company, Petrobras has announced plans to divest its 50% stake in an African exploration joint venture with BTG Pactual E&P and Helios Investment Partners. Per Petrobras, the JV has stakes in Nigeria's Akpo and Agbami fields, where it is engaged in exploration and production. The divestment program also includes the Egina field and Preowei field's exploration and production rights.