LAGOS NOVEMBER 1ST (NEWRANGERS)-Nigeria is considering selling naira-denominated bonds abroad next year to fund infrastructure projects, Finance Minister Zainab Ahmed said. Africa’s biggest oil producer faces a significant increase in financing needs as it struggles to boost revenue required to fund increased spending on infrastructure. Almost 60% of Nigerians don’t pay tax and the state…
LAGOS OCTOBER 31ST (NEWSRANGERS)-Some persons associated with the Ghana Union of Traders Association (GUTA) have gone on rampage closing shops belonging to foreigners in commercial hubs in Kumasi in the Ashanti region. The closure that begun from Alarbar spread to Adhye and Kejetia Wednesday. The Ashanti Regional President of the Nigerian Association of Traders Union…
LAGOS OCTOBER 3TH (NEWSRANGERS)-Chevron is getting set to Leave Nigeria. Chevron is seeking to sell several Nigerian oilfields as part of a global drive to reshape its portfolio as it focuses on growing its U.S. shale output, banking and industry sources said. Chevron joins rivals including Exxon Mobil and Royal Dutch Shell in a drive…
LAGOS OCTOBER 30TH (NEWSRANGERS)-Africa’s largest oil refinery will deliver its fuels to Nigerian consumers via roads and sea ports and will effectively replace all of Nigeria’s fuel imports once fully operational, a company executive said on Tuesday. The 650,000 barrel per day Dangote oil refinery is under construction in Lagos, the biggest city in the…
LAGOS OCTOBER 28TH (NEWSRANGERS)-About two months ago, the Nigerian government announced the closure of the country’s land borders to all goods. According to the country’s Comptroller-General of the Customs Service, Hameed Ali, this was done to stem the influx of smuggled goods, especially rice and tomatoes, into the country. The border closure is an economic…
LAGOS OCTOBER 23RD (NEWSRANGERS)-The Tolaram Group, maker of Indomie Noodles, is building the biggest port in West Africa on the east side of Lagos with $1bn facility from China, according to the Financial Times. A report in Financial Times on Tuesday said the Singapore-based company was set to close financing this week for what could…
LAGOS OCTOBER 22ND (NEWSRANGERS)-Despite the closure of Nigerian land borders by the federal government in the last three months, smuggling still persists at the border between Nigeria and Niger Republic, THISDAY’s investigation has revealed. THISDAY gathered that at the border between Jibia in Katsina State and Niger Republic, smugglers have resorted to the use of…
LAGOS OCTOBER 22ND (NEWSRANGERS)-In a fast changing world where every company is becoming tech inclined through leveraging on technology in one form or the other, WorldStage Economic Summit (WES) is set to focus its 2019 edition on the theme ‘Getting Nigeria Ready for Challenges of the Fourth Industrial Revolution’. An annual global platform for addressing…