Cost of funds rises as market liquidity drops to N96bn

Cost of funds rose significantly in the interbank money market last week following series of liquidity outflow which caused market liquidity to fall by 26 per cent to N96 billion, week-on-week (WoW). During the week, the interbank money market experienced outflow through treasury bills sale and foreign exchange sales by the Central Bank of Nigeria (CBN).

MRS commissions Africa’s largest jetty in Lagos

Foremost downstream oil company, MRS Oil Nigeria Plc, saturday commissioned a berthing terminal – Dantata Jetty, which has a capacity to berth vessels of 80,000–120,000 metric tonnes capacity at the Tin Can Island Port in Lagos.

FG to revive sale of 10 NIPP plants in new economic plan

The Federal Government has said it would conclude the sale of 10 brand new electricity generation plants built under the National Integrated Power Projects (NIPPs) by the Niger Delta Power Holding Company Limited (NDPHC) in line with its recently launched Economic Recovery and Growth Plan (ERGP).

Export of raw minerals to be banned soon – Fayemi

The Minister of Mines and Steel Development, Dr Kayode Fayemi, has said that government has put in place measures to stop exportation of raw solid minerals by October.

EFCC Inaction Causes Sinking of Petroleum Vessels

Revelations emerged on Sunday about how the delay by the Economic and Financial Crimes Commission (EFCC) to engage an auctioneer to dispose of petroleum products on several vessels forfeited to the federal government caused the sinking of at least two vessels with their content.

U.S. unemployment drops to 4.5%, lowest in decade

However, hiring slowed substantially in March, President Trump's second full month in office. America only added 98,000 jobs, according to the Labor Department.

It's a disappointment, given the U.S. added 219,000 jobs in February and averaged 187,000 new jobs a month last year. But economists are already calling it a one month "blip." It's common to see a weak month of hiring at some point during the winter. Most experts expect job growth to pick up again soon.

Fashola Raises Hope for Better Electricity Supply

The Minister of Power, Works and Housing, Mr. Babatunde Fashola, on Sunday raised hope for improved electricity supply in the country, assuring Nigerians that power generation would ramp up to 4,000 megawatts within the next six days.