Nigerian Minister of Finance, Kemi Adeosun (photo), on Thursday announced that the country has achieved the oil production level aimed in the 2017 budget, knowingly 2.2 million barrels per day. “We now do 2.2 million bpd production,” the official said. According to her, this was achieved due to the reduction in attacks on oil facilities in the Niger Delta oil-hub which caused the...

In the framework of addressing environmental issues arising in Nigeria, the Federal Government has approved a Revised National Policy on Environment, revealed outgoing Minister of Environment, Amina Mohammed (photo). Mohammed, who was recently appointed Deputy Secretary General at the United Nations (UN), disclosed this after a Federal Executive Council (FEC) meeting presided over by the...

The Nigeria Sovereign Investment Authority (NSIA) has revealed plans to adjust the investment structure of the federation’s $1.25bn Sovereign Wealth Fund to now include more domestic commitments. According to NSIA Managing Director, Uche Orji (photo), the investments would include huge commitments in infrastructure, in the agriculture, real estate, power, health care system, water...

Nigeria's Acting President, Yemi Osinbajo (photo), has asked the parliament to approve the issuance of a new $500 million Eurobond to plug its budget deficit. “Following the high oversubscription of the recent $1 billion Eurobond issuance, we wish to take advantage of favorable market conditions to issue a Eurobond Debt Instrument of $500 million to fund the implementation of...

The office of the Accountant General has revealed that Nigeria’s revenue shared between the federal, state and local governments, increased by 16% to N465.19 billion ($1.5 billion) in January from the N400 billion ($1.31 billion) in December 2016. The shared amount includes statutory distributable revenue of N282.406 billion, Value Added Tax of N73.522 billion, exchange gains of N48.371...

The Federal Government of Nigeria has signed a €70 million European Development Fund support to improve maternal and child health care in the country. Speaking during the signing ceremony in Abuja on Tuesday, the Minister of Health, Isaac Adewole (photo), said the Nigerian government saw the need to pay much attention to the Primary Healthcare systems (PHCs) as it is the key strategy towards...

The Nigerian Minister of Agriculture and Rural Development, Audu Ogbeh (photo), on Wednesday, revealed that the Federal Government is targeting the production of 7 million tonnes of rice by 2018. According to him, the target, which is expected to be achieved Q2 of 2018 is aimed at meeting demands. “I think we have attained the level of being one of the largest producers of rice, even...

The Central Bank of Nigeria has injected $370.9 million into the interbank forex market as part of efforts aimed at easing the difficulties encountered in the funding of foreign exchange transactions. According to the Acting Director of the corporate communications department at CBN, Isaac Okorafor, the bank’s intervention in the forex market was the first wholesale intervention...

Nigeria needs about $28bn worth of investment to increase its daily crude oil production to 4 million bpd (from 1.9 million bpd in December 2016) and gas production to 10 billion cubic feet, according to the Nigeria Council of the Society of Petroleum Engineers (SPE). The Chairman of SPE, Saka Matemilola, who disclosed this at a media briefing in Lagos on Tuesday, said that such...

In a circular signed by Samir Taieb and Mabrouk Korchid, respectively Tunisian minister of agriculture and State secretary in charge of public domains and land affairs, it was revealed that 11,000 ha of lands will be given to small farmers in Tunisia’s remote areas. Commenting on the initiative on the sidelines of the Social economy and Solidarity Days, last Feb.20, Taieb said the areas...