The Director-General, Bureau of Public Enterprises (BPE), Mr Alex Okoh has disclosed that about N550 billion was realised from the sale of some of Federal Government’s 142 assets that had been privatised or commercialised.

Okoh stated this on Thursday in Abuja at a news conference on the organisation’s work plan and other initiatives for 2018, according to NAN.

An escalating international trade spat is threatening to cut into profit from the export of US whiskey to Europe, just as business is booming, according to Reuters.

U.S. President Donald Trump on June 1 imposed tariffs for aluminum imports from Mexico, Canada and the European Union. As a result, Spiegel expects his bill for recently-ordered steel fermentation tanks, worth several hundred thousand dollars, to be $50,000 to $60,000 higher.

Transactions on the Nigeria bourse sustained positive trend, rebounding further on Tuesday by 2.46 per cent following price appreciation posted by the Nigerian Breweries and Dangote Cement. The All-Shares, at the close of trading, improved by 907.82 points or 2.46 per cent to close at 37,854.92 in contrast with 36,947.10 achieved on Monday.

The Central Bank of Nigeria (CBN) on Thursday, released guidelines for the bilateral currency swap agreement between Nigeria and China. The CBN gave the guidelines in a document signed by its Director, Financial Markets Department, Dr. Alvan Ikoku, and posted on its website. The regulator, in a document titled, “Regulations for Transactions with Authorised Dealers in Renminbi,” said it might conduct bi-weekly trading sessions to ensure liquidity for trade and direct investment between the two countries.

The National Bureau of Statistics (NBS) says 7,975,976 workers were registered under the pension scheme in the first quarter of 2018 compared to 7,823,911 registered in the fourth quarter of 2017. The NBS disclosed this in its “Pension Asset and Retirement Savings Account (RSA) Membership data,” released on Tuesday.

Ethiopian Airlines has taken delivery of its 100th aircraft, Boeing 787 Dreamliner, leading the way as the first African carrier to reach the feat in fleet expansion and modernization in the continent.

Mr Tewolde GebreMariam, the Group Chief Executive Officer of the Airlines disclosed this in a statement on Thursday in Abuja, according to News Agency of Nigeria (NAN).

GebreMariam said it was an immense honour for the airline to reach the milestone of 100 aircraft.

The International Air Transport Association on Tuesday said Nigeria has repatriated the $600 million, belonging to international airlines that was trapped in the country due to foreign exchange shortages.

The Director-General of IATA, Mr Alexandre de Juniac, on its website gave the credence at the 74th IATA Annual General Meeting and World Air Transport Summit in Sydney, Australia.

The News Agency of Nigeria reports that the funds were airlines’ ticket sales and other allied activities which the country could not repatriate due to fall in crude oil earnings in late 2016 and early 2017.

Nigeria imported 6.149 billion litres of refined petroleum products in first quarter of 2018, according to the latest report by the National Bureau of Statistics (NBS). The report obtained from the website of NBS, showed that 5.67 billion litres of Premium Motor Spirit (PMS), also called petrol was imported into the country within the period under review.

The Presidency has explained why President Muhammadu Buhari is yet to sign the 2018 Appropriation Bill, which was recently passed by the National Assembly, into law. The Minister of Budget and Planning in a chat with State House correspondents at the Presidential Villa on Monday said President Muhammadu Buhari was still reviewing the 2018 Appropriation Bill and would sign it into law after the exercise.

The leadership of Nigeria Labour Congress (NLC) on Wednesday insisted that the September deadline for commencement of payment of new minimum wage to Nigerian workers was feasible contrary to claim by the Minister of Labour and Employment, Dr. Chris Ngige. The President of the Congress, Comrade Ayuba Wabba was quoted by Dailypost as saying if all members of the tripod are committed to doing what is right and working within the timeline already set, the new minimum wage can be achieved in September.

Banks’ average daily loan requests from the Central Bank of Nigeria (CBN) stands at N216.34 billion due to the apex banks’s tough monetary policy, according to a CBN’s Financial Market Department Annual Activity Report.

The Monetary Policy Rate (MPR) – benchmark interest — has remained at 14 per cent since July 2016 despite rising calls from economic experts for a lower interest rate. This has raised banks’ demand for CBN’s loans to boost their liquidity.

The loans, which came as Standing Lending Facility (SLF), were for each of the 246 days captured in 2017, out of which Intra-day Liquidity Facility (ILF) conversion was N130.63 billion, representing 60.38 per cent of the total request.

More Articles ...