Calabar, the Cross River State capital is booming with foreign investment as Africa’s youngest billionaire, Ashish J. Thakkar has made known his intention to invest in the beautiful city following a recent General Electric groundbreaking ceremony in the city, as the company is also set to invest billions in the country’s economy from Calabar.
Thakkar, who is president, Mara Group made his intention
NIGERIA’s daily crude oil output declined by 150,000 barrels, as Shell Petroleum Development Company of Nigeria Limited, SPDC, joint venture, Thursday, said it has shut the Trans Niger Pipeline (TNP) following an explosion and fire at a crude theft point on the 28” section of the facility at Bodo West in Ogoni land.
To this end, the country is currently losing about $14.73 million (N2.357 billion) daily,
Nigeria owes
The Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, yesterday, put the nation’s external debt at $6.67 billion, (about N1.035 trillion). Nigeria spent $8.0429 billion to service debt in 2006 and $10. 1072 billion in 2005 before the debt relief of 2006.
However, the Minister said that the clarification became necessary in view of the various figures being quoted in the debate over the nation’s indebtedness.
Her words, “as at now, our external indebtedness is as low as $6.67 billion
First Bank Shuts Operations Thursday
Customers of First Bank Limited may find it difficult to carry out some banking transactions from Thursday to Monday due to the decision to shut down the bank’s branches nationwide during the period.
Group Managing Director/Chief Executive Officer, First Bank of Nigeria Plc, Bisi Onasanya
Dangote now 25th richest man in the world
Nigerian billionaire and Africa’s richest man, Aliko Dangote, has scored yet another first. This time, he has been named Africa’s first $20 billion man, thus becoming one of the top 25 richest men in the world.
Dangote, the President/Chief Executive of the pan-African conglomerate,
Shell, Eni shutdown in Bayelsa: Nigeria loses N2.9trn daily
Nigeria has lost over $620 million (N2.9trn) and may continue to lose over $19,000,000 daily revenue from shut operations of Shell and Eni which were shut in March.
Shell had announced the shutdown of its creek trunk line due to crude oil theft which has been rampant in the creek region of the Niger Delta.
GistNews 