nternational Monetary Fund (IMF) says the Nigerian economy is recovering from a historic downturn benefitting from government policy support, rising oil prices and international financial assistance. IMF disclosed this in a statement issued from its headquarters in Washington D.C. on Monday. The organisation said Nigeria exited the recession in fourth quarter 2020 and output rose…
Five days after a Floating Production Storage and Offloading (FPSO) facility belonging to Shebah Exploration and Production Company Limited (SEPCOL) exploded in Warri, the company on Sunday announced that three crew members aboard the ship had been found alive. A statement by the company signed by its Chief Executive Officer, Ikemefuna Okafor, indicated that one…
Fitch Solutions, an affiliate of global rating agency, Fitch, has predicted that Nigeria’s weak performance in the oil and gas sector may continue to slow down the country’s economy in the coming years. In its latest report on the state of the Nigerian economy, the rating agency stated that from its analysis, the new Petroleum…
A coalition of Nigerian civil society organisations (CSOs) under the aegis of Civil Society Group for Good Governance (CSGGG) at the weekend kicked against the proposed N3 trillion to be budgeted for payment of fuel subsidies this year. In a joint briefing organised by President of the Group, Mr. Dominic Ogakwu, in Abuja, the civil…
redit Suisse will face charges in a Swiss court on Monday of allowing an alleged Bulgarian cocaine trafficking gang to launder millions of euros, some of it stuffed into suitcases. Swiss prosecutors say the country’s second-biggest bank and one of its former relationship managers did not take all necessary steps to prevent the alleged drug…
Oil prices continued their surge on Saturday, sending one of Nigeria’s most valued grades, Bonny Light to $95 and Algeria’s Sahara Blend to $97.48, in an obvious push towards the $100 mark.The increase represented a 3.70 per cent for the Nigerian grade and 4.29 per cent for the North African grade, the highest level they…
After a long break due to a frosty relationship between the United Arab Emirates (UAE) and Nigeria, the Emirates Airline on Saturday resumed operations in Nigeria with its Flight EK783 landing at the Murtala Muhammed International Airport (MMIA) in Lagos.The flight, which departed Dubai at 1030hrs landed in Nigeria’s busiest commercial city at 03.30 pm.Another…
The Institute for Agricultural Research (IAR), Ahmadu Bello University (ABU), Zaria, has developed oat seeds variety and indigenous inbred lines for maize hybrid to strengthen food production and revamp the non-oil sector of Nigerian economy. Prof. Mohammed Ishiyaku, the Executive Director of the institute, disclosed this in an interview with the News Agency of Nigeria…
Trust Africa News, By Ayomide Otitoju Lagos State Governor, Mr. Babajide Sanwo-Olu on Thursday joined the Swedish Ambassador to Nigeria, Ghana and ECOWAS region, Ambassador Carl-Michael Grans and Honorary Consul of Swedish Government, Philip Akesson, to inaugurate the New Swedish Honorary Consulate in Lagos. Speaking at the inauguration ceremony of the new Swedish Honorary Consulate…
