AfDB Pledges $300m Financing Support to Youths in Agriculture:
The Country Director of the African Development Bank (AfDB), Ousmane Dore, said that the bank plans to invest $300 million to support the youth in agriculture campaign in the country.
MTN’s Subscriber Base Falls 1.4% in First Quarter:
MTN Group Limited’s subscriber numbers fell during the first quarter as disconnections ordered by the government in Nigeria, its biggest market, curbed the growth of Africa’s largest wireless operator.
Yields on Nigeria’s Treasury Bills Rise Across Board:
Yields on Nigerian short-dated treasury bills rose significantly at an auction on Wednesday where the central bank sold a total of N167.51 billion worth of debt with maturities ranging between three months and one year.
Economic Crunch: Airlines Adopt New Strategies to Sustain Operation:
Foreign airlines and Nigerian carriers operating international destinations are adopting various strategies that will help them remain in business as the number of people that travel out of the country has scaled down owing to the economic down turn.
Oil prices rise, set for third weekly gain:
Oil prices climbed in Asia on Friday, heading for their third weekly gain after OPEC said it was open to fresh calls on freezing output despite the failure to reach a deal at the weekend.
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Chinese Yuan accounts for 6.7% of $27.34b forex reserves:
Chinese Yuan constitutes only 6.7 per cent of Nigeria’s $27.34 billion foreign exchange (forex) reserves, data from the Central Bank of Nigeria (CBN) has shown.
Alleged N12.5b debt: Arik, FAAN, NAMA get two weeks ultimatum:
The Federal Government has given the Federal Airports Authority of Nigeria (FAAN), Nigerian Airspace Management Agency (NAMA) and Arik Air two weeks to resolve all issues relating to the alleged N12.5billion debt.
NCC seeks review of forex policy:
The Nigerian Communications Commission(NCC) yesterday urged the Federal Government to relax its fiscal and monetary policy especially as it affects access to foreign exchange (forex). It lamented that the development is a threat to the provision of infrastructure that will assure the realisation of President Muhammadu Buahri’s cardinal objectives of job creation, security and anti-graft war.
Dangote Sugar Refinery’s shareholders get N6b dividend:
Shareholders of Dangote Sugar Refinery (DSR) Plc yesterday approved the recommendation of the board of director to distribute a total of N6 billion as cash dividends for the 2015 business year.
Solar firm to create 500,000 jobs:
A steven Solar Nigeria, a solar power generating company, plans to generate about 50 Megawatts of electricity and create over 500, 000 direct jobs over the next 24 months.