EIB, AfDB, provides $70m for private sector investment in Nigeria

The European Investment Bank, EIB, and the African Development Bank, AfDB, have both finalised arrangement to provide a US $70million equity stake in the Development Bank of Nigeria to strengthen lending for business and agriculture investment in the country.

A statement from the international banks, shows that the EIB and AfDB will be pr [...]

IMF warns of lower oil prices in 2019, calls for economic diversification

Oil producing nations have been alerted over a possible decline in crude oil prices, as the International Monetary Fund, IMF, projects that the average price of the product could drop from $62.31 a barrel in 2018 to $58.24 a barrel in 2019.

The IMF in its World Economic Outlook Report launched in Washington DC, advised oil-dependent econo [...]

NNPC set to commence oil search in Benue

The Nigerian National Petroleum Corporation, NNPC,has said it will soon begin the search for oil and gas in the Benue trough.

The corporation stated that as part of its early activities in the state, it will acquire seismic data that will guide the team in deciding the stages of the exploratory work to carry out in the state.

Group [...]

One Voice coalition rejects death penalty for hate speech

One Voice, a coalition of Non-Governmental Organizations, NGOs, has condemned the death penalty as enshrined in the Hate Speech Bill before the National Assembly.

The coalition is of the opinion that instead of a Hate Speech Bill, there are other extant laws that take care of bad utterances in the country.

The coalition agreed at a [...]

NCPC boss wants ‘heavy’ investment in aviation

The Executive Secretary of the Nigeria Christian Pilgrim Commission, NCPC, Rev. Uja Tor Uja, has called on the Federal Government to invest massively in the aviation sector.

He made the call in Abuja while playing host to the management, Nigeria College of Aviation Technology, Zaria, led by Capt. Jim Hassan.

According to Uja, Niger [...]

Boko Haram: Nigerians are hostages of propaganda – Buratai

The Chief of Army Staff, Lt. Gen. Tukur Buratai, has said Nigerians are being held hostage of Boko Haram propaganda, insisting that the terrorist group has been defeated.

Buratai in a telephonic conference with journalists hosted by the Africa Regional Media Hub hosted by the United States Government together with the U.S. Army Africa Act [...]

Night club relocation: Residents tackle owners

Attempts by illegal nightclub owners within the Abuja City to get the backing of members of the National Assembly to compel the FCT Administration to legitimize their activities has attracted the attention of a group of Abuja residents who have called on the lawmakers to ignore operators of nightclubs. 

The group, under [...]

Benue approves N70m for education of IDPs’ kids

The Benue State Executive Council, last week, approved N70 million to the Ministry of Education to facilitate the education of all children living in Internally Displaced Persons camps across the state.

Commissioner for Information and Orientation, Mr Lawrence Onoja Jnr, disclosed this while briefing journalists after the exco meeting pre [...]