Nigeria's Coastal Rail Project

Transportation receives fresh boost as FG okays $2.3 billion coastal rail project

The Federal Government has approved $2.3 billion for the construction of a rail line that will run across Nigeria's coastal states.
Import Duty Exemption Certificate portal

Nigeria lost N4.6 trillion due to non-implementation of Import duty portal – FG

Nigeria lost revenue worth N4.61 trillion in two years due to the non-implementation of the Import Duty Exemption Certificate portal. The disclosure was made by the Minister of @FinMinNigeriae, Mrs. Zianab Ahmed
NSE All Share Index

Foreign investors are dumping more Nigerian stocks

The Nigerian Stock Exchange lost N41 billion in April as a result of the activities of foreign investors trying to recoup their investments.
NSE Rules, Nigerian Stock Exchange,

Regulators streamline listing process in efforts to attract more firms to the NSE

In a bid to increase the number of quoted companies in the capital market, the Nigerian Stock Exchange (NSE) and the Securities and Exchange Commission (SEC), have disclosed their commitments to ease the listing process.
Lagos-Ibadan rail project will be completed in 2020 —CCECC

Contractor gives date for the completion of the Lagos-Ibadan rail project

Mr. Jaceques Liao, the Executive Director of China Civil Engineering Construction Corporation, recently assured that the Lagos-Ibadan rail project that is currently ongoing will be completed by April 2020.
House of Representatives, Nigerian National Petroleum Corporation, National Petroleum Investment Management Services

Total to refund $592 million to FG, as Reps consider probing NNPC/Chevron contract

Total Exploration and Production Nigeria (TEPNG) has been directed to refund $592 million to the Federal Government. @HouseNGR gave the directive after an investigation was made into the budget of certain projects.
NCC disburses N100 million to universities for ICT Research

NCC disburses N100 million to universities for ICT Research

The Nigerian Communications Commission (NCC) has disbursed over N100 million to some Nigerian Universities to carry out research in telecommunications and Information Communication Technology (ICT).
US-China Trade War: Implication on Nigerian economy as the Asian romance lingers

ABCON president explains how Nigeria is benefiting from the U.S-China trade war

The President, Association of Bureaux De Change Operators of Nigeria (ABCON), Dr. Aminu Gwadabe has disclosed that the on-going trade war between two of the world's largest economy, the United States and China, is playing to Nigeria's advantage.
FAAC disbursed N617billions in April, as South-South scoop N72billions

FAAC disburses N617 billion as South-South scoops highest allocation

The Federation Account Allocation Committee (FAAC) disbursed the sum of N617.57 billion to the three tiers of government in April 2019, according to the FAAC report released by @nigerianstat
FG calls on foreign investors to raise $140 billion for infrastructure funding

FG calls on foreign investors to raise $140 billion for infrastructure funding

The federal government is currently in search of foreign investors and financiers to fund infrastructure projects valued at $140 billion. Over $90 billion worth of investments have been announced since 2018 but are still being expected.
China Chamber of Commerce

Chinese companies’ investments in Nigeria hit $20 billion – CCCN

The president of the China Chambers of Commerce in Nigeria, Mr. Ye Shuijin, recently disclosed that the total investments of Chinese companies in the country have reached $20bn.
Nigerian Aviation Unions

Aviation unions suspend indefinite strike less than 24hrs after commencement

The industrial action against the @NigerianCAA has been called off a day after four unions threatened to shut down the airports, having already shut down Lagos and Abuja offices of the @NigerianCAA on Wednesday morning.
Revamping Nigeria's Oil Palm production, catalyst to diversification

FG targets four million Jobs from oil palm production

The Federal Government aims to create no fewer than four million new jobs across the country through palm oil production.

Daily Update: Bond auction rates clear c.34bps lower following 271% over subscription

Welcome to Nairametrics‘ summary of the daily performance of major economic indicators and highlights from trading sessions and key statistics such as Treasury Bills. This is brought to you by Zedcrest.
Stamp Duty Probe: Reps. go tough, revealed 15 Banks owe N1.5bn

Stamp Duty Probe: Reps act tough, reveal 14 banks are owing N1.5bn

About fifteen (15) Nigerian banks will have to cough out the sum of N1.5 billion, being the total sum of under-remitted stamp duty funds owed the Federal Government.
Latest PMI shows expansion, despite slow growth in Manufacturing sector

Latest PMI shows expansion despite slow growth in Manufacturing GDP

Nigeria's manufacturing Purchasing Managers’ Index (PMI) grew faster for the 26th consecutive months, indicating further expansion in the manufacturing sector.
Central Bank of Nigeria

Why Emefiele wants banks restricted from access to bonds and treasury bills

Governor of the Central Bank of Nigeria, Godwin Emefiele, has sought the restriction of banks' access to government securities such as bonds and treasury bills.

MainOne to invest N25bn through its ‘Digital Lagos’ Project

MainOne has disclosed plans to invest up to N25 billion towards providing additional 2000km of fiber optic infrastructure through its project titled 'Digital Lagos: Broadband for All'.
Federal Inland Revenue Service

FIRS revenue collection will surpass N5.32trn in 2019 -Fowler

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr Babatunde Fowler, has expressed confidence that the revenue agency will surpass N5.32 trillion revenue collection in 2019.
Minimum wage

N30,000 minimum wage will render many states bankrupt

The former Commissioner of Finance in Lagos state, Dr. Adebayo Adewusi, recently asserted that the new minimum wage of N30,000 will lead to many states becoming bankrupt.
Treasury Bills

Daily Update: Local Markets to hold steady as CBN retains MPR at 13.50%

Welcome to Nairametrics‘ summary of the daily performance of major economic indicators and highlights from trading sessions and key statistics such as Treasury Bills. This is brought to you by Zedcrest.
Gas cylinders, Ibe Kachikwu

Federal Government to stop ownership of gas cylinders by consumers

By this new policy by @AsoRock, LPG consumers are not longer allowed to own gas cylinder.
Air Peace

Enugu Airport needs urgent holistic attention – Osita Chidoka

Former Minister of Aviation, Osita Benjamin Chidoka, recently took to Twitter to narrate his experience while onboard an AirPeace flight from Enugu.
MPC, Monetary Policy Committee

CBN maintains a Hold, keeps MPR constant at 13.5%

The Monetary Policy Committee (MPC) of @cenbank, maintains a hold in Monetary Policy Rate (MPR) at 13.50%. Also, other parameters are held constant. 
Nigerian Aviation Unions

FG explains why it plans to demolish and rebuild the MMIA in Lagos

FG has explained the underlining reasons for the planned demolition and rebuilding of the 40-year-old Murtala Muhammed International Airport in Lagos.
NAICOM, Bancassurance, Microfinance banks, Guinea Insurance

Insurance Companies shocked as NAICOM increases capital base by 200%

The National Insurance Commission (NAICOM), has increased the minimum paid-up share capital of insurance and reinsurance firms.
MTN Nigeria

NCC confirms MTN’s payment of N235bn out of N330bn fine

According to NCC, MTN Nigeria Plc has so far paid a total N235 billion out of the N330 billion fine imposed on it by industry regulator in August 2015.
Federal Inland Revenue Service

FIRS to start charging VAT on online transactions soon – Fowler

The Federal Inland Revenue Service will start taking Value Added Tax on online transactions any moment from now according to its chairman, Babatunde Fowler.
Captain Rabiu Hamisu Yadudu succeeds Saleh Dunoma as FAAN's MD

Captain Rabiu Hamisu Yadudu succeeds Saleh Dunoma as FAAN’s MD

Captain Rabiu Hamisu Yadudu has succeeded Saleh Dunoma as the Managing Director (MD) of the Federal Airports Authority of Nigeria (FAAN).
Securities and Exchange Commission

SEC reveals guidelines for issuing cross-border securities

The Securities and Exchange Commission has unveiled draft guidelines for cross-border issuance of fixed incomes and a mutual recognition agreement by the West African Securities Regulatory Authorities (WASRA) for the West Africa region.


Canada invited 3,357 Express Entry candidates with scores as low as 300

Canada invited 3,357 Express Entry Candidates with scores as low as 300

Canadian province, Alberta, has issued a total of 3,357 invitations to apply for a provincial nomination for Canadian Permanent Residency (PR) to Express Entry candidates with Comprehensive Ranking System scores as low as 300.

Purported EFCC raid on MTN Nigeria head office might be false

There were wild media reports, late Friday night, purporting that the Economic and Financial Crimes Commission (@officialEFCC) raided the head office of @MTNNG. This might be wrong.
Treasury Bills

Daily Update: T-Bills Market turns bearish as CBN resumes OMO sales

Welcome to Nairametrics‘ summary of the daily performance of major economic indicators and highlights from trading sessions and key statistics such as Treasury Bills and Bonds. This is brought to you by Zedcrest.