Thursday, 9 June 2016

Buhari Appoints Pastor Ben Akabueze DG Budget.... Flexible Forex Delay

Latest from the Economic Confidential, the factual, authoritative and accessible economic magazine
 
Buhari Appoints Pastor Ben Akabueze, DG Budget Office
President Muhammadu Buhari has approved the appointment of his Special Adviser on Planning, Pastor Ben Akabueze as the new Director General of the Budget Office of the Federation. He has first Class Degree in Accounting.
 
Flexible Forex Delay: We Want To Get It Right-Bankers Committee
Rising from the 327th Bankers Committee meeting held in Abuja, the Central Bank of Nigeria (CBN) has said that the delay in rolling out the just approved flexible foreign exchange rate policy was because the apex bank wants to get it right this time around.
 
Dangote Building Largest Oil Refinery in Lagos
Africa's richest man is building one of the world's largest oil refineries in Lagos for domestic and international market.
 
Nigeria Earns N1.05trn From Oil, Gas Export In 3 Months
Nigeria earned N1.052 trillion from the export of crude oil, gas and other petroleum products in three months, between January and March 2016, according to data released by the National Bureau of Statistics, NBS.
 
Nigeria Losing US, India, Indonesia Oil Markets Over Attacks
Crude oil customers from India, Indonesia and the United States are turning away from Nigerian oil over uncertainty about deliveries as attacks by militants have reduced Nigeria's oil output.
 
GDP: Danbatta Expects Further Growth In telecoms Sector
The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Professor Umar Garba Danbatta has reviwed the performance of the nation's telecommunications industry in the first quarter of 2016.
 
Diesel, Kerosene Prices Skyrocket Nationwide
The prices of Automated Gasoline Oil (AGO) or diesel and household Kerosene have skyrocketed across the country.
 
FG to issue $1bn Eurobond in 2016
The Federal Government has said it would issue $1 billion Eurobond in the third quarter of this year towards its securing of $3 billion loan from the World Bank and African Development Bank.
 
Gas To Power Down 50% Over Attacks – Report
Recent upsurge in vandalism has not only negatively impacted on oil production but reduced Nigeria's domestic gas production by 50 percent which has in turn constrained gas supply to power plants in the country.
 
Nigeria Targets $100bn From Non-oil Exports – NEPC
As Nigeria moves towards diversifying the economy, the Nigerian Export Promotion Council (NEPC) has set a long-term target of achieving $100billion earnings from non-oil exports.
Read: http://economicconfidential.com/2016/06/nigeria-targets-100bn-non-oil-exports-nepc/
 
Due Process Stalls Release Of N350bn To Economy –FG
The Federal Executive Coun­cil (FEC) has given Ministries, Departments and Agencies (MDAs) ultimatum to fast track the processes for the capital budgets to be re­leased so that the economy can be quickly reflated.
Read: http://economicconfidential.com/2016/06/due-process-stalls-release-n350bn-economy-fg/
 
FCTA Budgets N241Bn For 2016 – Minister
The FCT Administration has proposed to spend the sum of N241,467,231,031 in the 2016 fiscal year for its capital and recurrent expenditures.
 

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