The Central Bank of Nigeria (CBN) has revealed plans by the Federal Government to sell N1.13 trillion (about $3.6 billion) worth of treasury bills between March 16 and June 1, 2017. This will be used to plug the deficit in the nation’s budget, manage the liquidity shortfall in the banking system and curb the rising inflation in the economy. The apex bank aims to auction a 91-days bill...

The National Bureau of Statistics (NBS) in its Merchandise Trade Intensity Index/Re-Exports report released on Tuesday, revealed that Nigeria's export in the fourth quarter of 2016 was valued at N5.28 trillion. According to the report, export stood at N2.97trillion while import stood at N2.30trillion resulting in a trade surplus of N671.3 billion. It explained that in terms of trade by...

The Government of Bauchi State has revealed plans to assist rice farmers across the state in cultivating 4, 000 hectares of staple crops. Yakubu Kirfi, state commissioner for Agriculture and Natural Resources, who spoke on behalf of the governor, during the launching of the 2017 Fadama III additional financing for dry season rice farming in Bauchi, said the state cultivated 2,500 hectares in...

Nigeria intends to attract private investments to its government-owned airports as the Nnamdi Azikiwe International Airport in Abuja, prepares for closure to undergo maintenance after years of desertion, according to Hadi Sirika (photo), the Minister of aviation. “All government-owned airports will be offered to investors who have the wherewithal, the know-how, the technology, the capacity,...

Shell Nigeria Exploration and Production Company Limited (SNEPCo) on Monday announced the shutting down of Nigeria’s Bonga oil field for maintenance. This aimed at ensuring a continuous optimal operation at the field. “The exercise will help ensure sustained production and reduced unscheduled production deferments. This is the fourth turnaround maintenance since Bonga began production,”...

The Ivorian Human Rights Association (RAIDH) last Friday in Séguéla, North-West of Cote d’Ivoire, organized a workshop to explain the 23 Dec. 1998 Act on Rural Land, reports Agence Ivoirienne de Presse. Targeting community leaders of Séguéla, the workshop provided information regarding the bases of land ownership rule which now states that only Ivorian nationals are to own a land. The rule...

About 23% of Morocco’s GDP in 2016 came from cannabis production. This was revealed by the US State department in a report on global drugs traffic released on March 3rd. “Over the 2015-2016 season, Morocco produced nearly 700 metric tons of cannabis, which represent 23% of its GDP valued at $100 billion,” the report states. The US State department also said Morocco which is the...

Eta-Zuma Group West Africa Limited plans to invest $6bn to boost electricity generation in Nigeria, announced Chairman of the company, Innocent Ezuma, during a press briefing in Abuja on Friday. According to Ezuma, the company plans to boost power supply in the country by 1, 600 MW of which 1,200MW would be generated from coal, which is already being mined by the company in Kogi State....

The Federal Government has revealed plans to waive the usual initial payment of 10% equity on housing loans below N5million ($16,000) administered by the Federal Mortgage Bank of Nigeria (FMBN). The Minister of State for Power, Works and Housing, Mustapha Baba Shehuri, who disclosed this during the commissioning of a 125-unit housing estate in Enugu, said the decision to scrap the 10% is part of...

The Senior Special Assistant to the President on Foreign Affairs and Diaspora, Abike Dabiri-Erewa, has advised Nigerians against travelling to the United States, unless for an urgent purpose. “Nigerians without any urgent need should consider rescheduling their trip until there is clarity on the new immigration policy,” she said in a statement. According to her, the warning is as a...