Fitch Revises Nigeria's Outlook to Positive, Affirms 'B-' Rating amid Market-friendly Reforms Welcomes policies to restore macroeconomic stability Maintains high debt service, rising inflation remain risks to outlook Nume Ekeghe Fitch Ratings has revised the Outlook
on Nigeria's Long-Term ForeignCurrency Issuer Default Rating (IDR) to Positive from Stable, and
affirmed the IDR at 'B-'. In its latest rating released yesterday, which was obtained
by THISDAY, the global agency pointed out that the positive outlook partly reflected reforms over the last
year to support the restoration of macroeconomic stability and enhance policy coherence and credibility.
It noted that in Nigeria, Exchange Continued on page 5
Sule Lamido Weighs in on Ihedioha’s PDP Exit, Says Gale of Resignation from Party Out of Frustration...
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Saturday May 4, 2024 Vol 29. No 10615
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No Compromise on Press Freedom, FG Assures Media...
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For Reinvestment in Mobil, Shell, Agip, Equinor Oil Blocks, NUPRC Gives Two-week Ultimatum Offers 10.9m barrels of oil, 90.7 Bcf of gas for sale
Emmanuel Addeh in Abuja In a bid to quickly advance the close-out of the ongoing oil and
gas reinvestment and divestment process in the country, totalling 26 blocks, the Nigerian Upstream Petroleum Regulatory Commission
(NUPRC) yesterday issued a twoweek deadline to all parties involved to choose from two options and revert within 14 days.
The companies involved in the process are: Nigerian Agip Oil Company (NAOC), which intends to sell its assets to Oando; Mobil
Producing Nigeria Unlimited (MPNU) which has Seplat Energies as the buyer; Equinor, which is selling to Chappal and Shell
Petroleum Development Company (SPDC), which has the Renaissance Continued on page 5
Salako: Works Ministry Issued Preliminary ESIA Approval on Lagos-Calabar Highway Bennett Oghifo The Minister of State for Environment, Iziaq Salako, yesterday, said the Federal Ministry of Works was given preliminary Environmental and Social Impact Assessment (ESIA) certification for scoping and site clearing of the Lagos-Calabar Coastal Highway. Salako, who disclosed this during an interview on Arise News Channel, said the Federal Ministry of Works applied for the environmental and social impact assessment of the LagosCalabar Coastal Highway, stating that the, “Ministry of Environment has done its preliminary assessment and I can confirm that we have issued a preliminary impact assessment certification for site clearance and scoping for compensation.” He also said because it was a long road, “the issuance of the certification would be done in phases. The project can go on and we can also be doing our own bit of it.” On which comes first between Continued on page 5
COSMOPOLITAN WOMEN CLUB INVESTITURE... L-R: SSG Lagos State, Bimbola Salu-Hundeyin; Mrs. Onikepo Oshodi; First Lady of Lagos State, Dr. Ibijoke Sanwo-Olu; President Cosmopolitan Women Club (CWC), Dame Marie FatayiWilliams; and HRM, Erelu Abiola Dosumu, at the Investituture of Dame Marie Fatayi-Williams as the 4th President of Cosmopolitan Women Club (CWC), in Lagos...yesterday MUBO PETERS
African Union Writes Nigeria, South Africa on AFRIMA Hosting Rights...
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