THERE are indications that the Akwa Ibom State House of Assembly may sanction major oil companies operating in the state over their failure to remit taxes and other levies from their operations to the state government’s coffers as required by law.

ABOUT 14 Nigerian banks including four of the rescued banks have received a fresh $1 billion facility in form of guarantee of foreign credits and interbank lending from the United States Export-Import Bank.
The banks are Access Bank, Afribank, Diamond Bank, Ecobank, Fidelity Bank, First Bank, First City Monument Bank and Guaranty Trust Bank (GTB).

THE Bayelsa State House of Assembly has passed into law the State Bonds, Notes and other Security Issuance Bill 2009 which permits the state government to secure the N100 billion Bond with the first tranche to be issued to the tune of N50 billion needed for some projects in the state.

THE bilateral trade volume in imports and exports between Nigeria and its Germany counterpart has been put at N66.3 billion.

DELTA state government is to spend about N21 billion on its independent power plant which on completion will generate 350 megawatts of electricity in the state.

Nigeria has lost N37 billion worth of petroleum products to militant attacks of flow stations belonging to different multinational oil companies in the country.

NIGERIA’S Gross Domestic Product (GDP) will hit $120 billion this year, notwithstanding the current global economic recession and dwindling crude oil revenues.

THE Bayelsa State government is to raise N100 billion bond from the capital market to meet its infrastructural development obligation as well as fast-track economic development in the state sequel to the approval of the bond by the state executive council amid controversy.