$1BN Eurobond: 8 Times Oversubscribed
Since its first Eurobond in 2013, and despite the unpredictability of emerging markets, Nigeria’s $1 billion Eurobond has just been approximately eight times oversubscribed, with orders in excess of $7.8 billion.
According to Dolapo Oni, Head, Energy Research at Ecobank, this shows that Nigeria could have easily raised more than $1 billion.
We Will Challenge Government Bailout – Arik
The management of Arik Air on Thursday, through its Senior Vice President, Ado Sanusi, said it would challenge the taking over of the airline by the Assets Management Company of Nigeria (AMCON) in court.
The asset company had on Thursday taken over the airline following its huge indebtedness to local and foreign creditors.
Banks To Support Exports With N25BN Annual Equity Contribution
As one of the high points of the first Bankers Committee Meeting in Abuja, banks have agreed to dedicate 5% of their annual profit-less tax balances as equity capital for export driven businesses, as well as those who serve as catalysts to the government’s import substitution drive.
IBM Invests $70m, Targets 25million Jobs In Nigeria
IBM is investing $70 million in building much-needed digital, cloud, and cognitive Information and Technology (IT) skills to help support a 21st century workforce in Nigeria, South Africa, Kenya and other parts of Africa.
EU’s Ban On Beans Export: Nigeria Seeks Reversal
The Coordinating Director, Nigeria Agricultural Quarantine Service (NAQS) , Dr. Vincent Isegbe, said plans are in top gear to get the European Union EU lift its ban on exportation of beans from Nigeria to its member countries.
He disclosed this at the opening of a two- day training workshop on Plant Health Inspection and Certification of Vegetables for exporters and farmers.
World Bank Provides $320m For Social Development In Nigeria
The World Bank has provided $320 million credit to assist poor and vulnerable Nigerians in remote areas through the Community and Social Development Agency (CSDA) .
The World Bank also late last year, approved $75 million for the North-East region for resettlement of the internally displaced persons (IDPs) .
Nigerians Protest Against Poverty
The Nigeria Labour Congress (NLC), Trade Union Congress (TUC) and right activists took to the streets of Lagos and Abuja yesterday to protest against what they described as worsening human condition in the country.
AMCON Takes Over Arik
The Asset Management Corporation of Nigeria (AMCON) yesterday took over the executive control of Arik Air to save the carrier from collapse due to its heavy financial debt burden.
Kaduna Refinery Loses N2B To Illegal Tappers Of Water Pipeline
The Kaduna Refining and Petrochemical Company Limited (KRPC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), loses an average of N2.2 billion annually to illegal tapping of its raw water pipeline from Kaduna River.
FG Wants To Scare Investors Away From Rivers State – Wike
The Rivers State Governor, Nyesom Wike, has accused the Federal Government of using its agencies to blackmail his administration in a bid to drive away investors and cripple the state economy.
Wike expressed this view when the Norwegian ambassador to Nigeria, Jens-Peter Kjemprud, visited him at the Government House, Port Harcourt yesterday.