1.The
Tertiary Education Trust Fund (TETfund) has stated that each of the universities in Nigeria received an allocation of N912 million as intervention funds for the year 2014, just as it announced a considerable increase in the number of institutions receiving such funds across the country.
2.
Nigeria has disbursed an N11 billion loan to at least 35 automobile accessory manufacturers for the production of components for vehicle production. The Director General of the National Automotive Council (NAC), Aminu Jalal, said that beneficiaries of the loan are expected to produce vehicle components for the assembly plants in the country, under the national automotive policy.
3.
First Bank Plc has expressed willingness to support the funding of a $1.3billion fabrication contract by Kaztec Engineering, a subsidiary of the Chrome Group, awarded by Addax Petroleum. The contract, scheduled to commence next month is tied to the Addax’ Ofrima/Udele development project.
4.The
Federal Government has announced plans to establish a 1000 megawatts coal power plant in Enugu State. The President, Goodluck Jonathan, who made this statement in Enugu, said the plant is expected to help address the unstable power situation in the country.
5.
Nigeria earned about $38.19 million, approximately N6.11 billion from the lifting of 132,224 metric tonnes, (about 966,822 barrels) of Natural Gas Liquid, NGL, in May 2014, the Nigerian National Petroleum Corporation, NNPC, has said.
6.The Non-Academic Staff Union of Educational and Associated Institutions
(NASU) has urged the federal government to as a matter of priority, release intervention funds to Polytechnics and Colleges of Education for the completion of ongoing projects and rehabilitation of decaying infrastructures in the institutions.
7. The Chairman of Heirs Holdings, an African investment Company,
Tony O. Elumelu, has commissioned the sail away of Seadrill Nigeria Limited’s sixth-generation drill ship christened, ‘West Jupiter.’ The West Jupiter is the latest addition to the Total Upstream Nigeria Limited (Total) fleet of ultra-deep water vessels operating in Nigerian waters.
8.
Investors staked N4.739 billion on shares yesterday, showing an increase of 72 per cent compared to N2.768 billion invested in shares last Friday. Generally, market indicators closed on a positive note as trading resumed for a new week.
9. The Central Bank of Nigeria
(CBN) has barred Deposit Money Banks (DMBs) from operating as international money transfer service providers, while issuing guidelines for the operations of inbound and outbound international money transfer services in the Nigeria.
10. Determined to attract foreign direct investment
(FDI) and develop the country’s minerals and metals sector, the Federal Government has granted over $250 million worth of import duty waiver to Royal Salt Limited. Mohammed Musa Sada, minister of mines and steel development, said, “According to the Nigerian Mining and Minerals Act of 2007, any equipment that is brought in for the purpose of mining starting with mining exploration, exploitation and processing will be brought into the country duty free.”
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This article was first published on 30th September 2014
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1.The Tertiary Education Trust Fund (TETfund) has stated that each of the universities in Nigeria received an allocation of N912 million as intervention funds for the year 2014, just as it announced a considerable increase in the number of institutions receiving such funds across the country.
2. Nigeria has disbursed an N11 billion loan to at least 35 automobile accessory manufacturers for the production of components for vehicle production. The Director General of the National Automotive Council (NAC), Aminu Jalal, said that beneficiaries of the loan are expected to produce vehicle components for the assembly plants in the country, under the national automotive policy.
3.First Bank Plc has expressed willingness to support the funding of a $1.3billion fabrication contract by Kaztec Engineering, a subsidiary of the Chrome Group, awarded by Addax Petroleum. The contract, scheduled to commence next month is tied to the Addax’ Ofrima/Udele development project.
4.The Federal Government has announced plans to establish a 1000 megawatts coal power plant in Enugu State. The President, Goodluck Jonathan, who made this statement in Enugu, said the plant is expected to help address the unstable power situation in the country.
5.Nigeria earned about $38.19 million, approximately N6.11 billion from the lifting of 132,224 metric tonnes, (about 966,822 barrels) of Natural Gas Liquid, NGL, in May 2014, the Nigerian National Petroleum Corporation, NNPC, has said.
6.The Non-Academic Staff Union of Educational and Associated Institutions (NASU) has urged the federal government to as a matter of priority, release intervention funds to Polytechnics and Colleges of Education for the completion of ongoing projects and rehabilitation of decaying infrastructures in the institutions.
7. The Chairman of Heirs Holdings, an African investment Company, Tony O. Elumelu, has commissioned the sail away of Seadrill Nigeria Limited’s sixth-generation drill ship christened, ‘West Jupiter.’ The West Jupiter is the latest addition to the Total Upstream Nigeria Limited (Total) fleet of ultra-deep water vessels operating in Nigerian waters.
8. Investors staked N4.739 billion on shares yesterday, showing an increase of 72 per cent compared to N2.768 billion invested in shares last Friday. Generally, market indicators closed on a positive note as trading resumed for a new week.
9. The Central Bank of Nigeria (CBN) has barred Deposit Money Banks (DMBs) from operating as international money transfer service providers, while issuing guidelines for the operations of inbound and outbound international money transfer services in the Nigeria.
10. Determined to attract foreign direct investment (FDI) and develop the country’s minerals and metals sector, the Federal Government has granted over $250 million worth of import duty waiver to Royal Salt Limited. Mohammed Musa Sada, minister of mines and steel development, said, “According to the Nigerian Mining and Minerals Act of 2007, any equipment that is brought in for the purpose of mining starting with mining exploration, exploitation and processing will be brought into the country duty free.”
