The Asset Management Corporation of Nigeria (AMCON) has taken over possession of multi-billion naira properties in Lagos, Ogun and the United Kingdom from three property firms and eight others following an alleged N4,680,343,681.47 bank debt. The assets, including land, houses, cars and generating plants, were seized in execution of a Lagos Federal High Court order authorising receiver/manager Lanre Olaoluwa to take possession of the properties pending the determination of a suit before the court.

Nigeria has overtaken Angola in oil production to become Africa's top oil exporter. According to data from the Organisation of Petroleum Exporting Countries, OPEC, the development followed the return of the Forcados export terminal Nigeria, which lost its Africa’s top oil producer status to Angola in January, recorded the biggest increase in output among its peers in the OPEC last month.

Neven Mimica - EU Commissioner for International Cooperation and Development

The European Commission has announced a support package of 143 million Euros (about N50.2 billion) for the early recovery and reconstruction needs in Borno, which is suffering from a worsening humanitarian crisis. The Commissioner for International Cooperation and Development, Neven Mimica, disclosed this in a statement made available to newsmen in Abuja by the EU Communication Officer in Nigeria, Modestus Chukwulaka.

The Federal Inland Revenue Service (FIRS) says it generated N778.19 billion revenue in the first quarter of 2017.

The Federal Government will recruit 7,500 graduates as Community Tax Liaison Officers to raise tax awareness among citizens. The Minister of Finance, Mrs Kemi Adeosun, along with the Chairman, Federal Inland Revenue Service (FIRS), Mr BabaTunde Fowler made this known at a joint press briefing on Thursday in Abuja.

The Federal Government has reviewed the number of agencies operating at the ports to eight, including the Nigerian Drug Law Enforcement Agency (NDLEA).

Nigeria's aviation industry has suffered a prolonged spell of violent turbulence. The nation's leading carrier, Arik Air, was recently taken-over by the government through, the Asset Management Corporation of Nigeria, AMCON, to prevent it from collapsing.

The National Bureau of Statistics (NBS) has stated that Nigeria generated N204.77 billion as Value Added Tax (VAT) in the first quarter of 2017.

The federal government yesterday ratified the Afam emergency fast power plant as part of measures to improve power supply in the country.

The International Energy Agency (IEA) has stated that global oil output will expand faster than worldwide demand for oil next year, primarily as US producers rack up production, and the development could hamper exporters’ efforts to prop up prices.