NNPC expresses commitment to grow local content to 70%

The Nigerian National Petroleum Corporation has pledged to partner with the Nigerian Content Development and Monitoring Board in growing Nigerian Content in the oil and gas industry to the 70 per cent target set by the Federal Government, especially in the complex deep offshore.

Port construction on Badagry Free Trade Zone to commence soon

Free Trade Zone at BadagryAPM Terminals and its consortium of partners have announced plans to develop a new mega-port project and Free Trade Zone at Badagry in Lagos State. The first phase of the project is scheduled to open in 2016.

UNIDO lists benefits of FDI

The Regional Director and Country Representative of UNIDO, Dr. Patrick Kormawa, has said that Foreign Direct Investment (FDI) will enable countries to explore and develop their potential.

Nigeria emerges biggest in Africa for sub-national bonds

Nigeria has emerged  the largest sub-national bond market in Africa. This followed the  floating of a new N80 billion ($507.9 million) bond by the Lagos Government. With 448.6 billion ($2.8 billion) of debt in the Nigerian municipal and sub-national bond market, it is the largest such market of all African countries.  South Africa’s sub-national bond market has outstanding debt of 14.1 billion Naira ($ 89.5 million) – a significantly smaller sum than the total debt of Nigerian sub-national debts.

Scrap of N100 ATM charge: Acamb seeks bank customers understanding

The Association of Corporate Affairs Managers of Banks (ACAMB) has said that the implementation of the Bankers Committee’s resolution to scrap the N100 charge on the usage of ATM of banks in which users’ account are not domiciled will soon take full effect urging all bank customers to be patient for a short while to allow banks to work out the modalities with third party service providers.

SME revolution: FG set to lower cost of accessing funds

As part of strategic efforts to create jobs, generate wealth and enhance economic growth,the Federal Government is set to reduce the cost of accessing funds by SMEs within the lifetime of the current administration.
This was been made known in Lagos on Tuesday by the Minister of Trade and Investment, Mr. Olusegun Aganga .
Aganga also disclosed that he had already directed the Bank of Industry (BoI)  and the Small and Medium Enterprises Development Agency (SMEDAN) to collaborate on creating about five million jobs within the next two years.