domestic

Indonesia Bans Nickel Exports, Eyes Domestic Production

October 29, 2019 1:09 pm

Indonesia will suspend nickel ore exports immediately rather than stopping overseas shipments early next year, officials said on Tuesday, as the world’s top producer of the mineral looks to ramp up processing at home to boost its income.

Some three dozen firms met government officials on Monday and agreed to stop exporting the metal, according to the country’s Investment Coordinating Board (BKPM).

London nickel prices briefly jumped above $17,000 a metric ton.

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The surprise announcement comes about a month after resource-rich Indonesia shocked markets by saying it would

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Cumulative Domestic Debts Of Nigerian States Equals ₦4tr

October 18, 2019 1:04 am

• Lagos (₦542.231b), Delta (₦223.442b), Rivers (₦225.592b)
• Jigawa (₦38.227b), Anambra (₦33.490b), Yobe (₦26.990b)

Domestic debts of the 36 states and the Federal Capital Territory (FCT) as at the end of March 2019 was ₦3.972 trillion, the Debt Management Office (DMO) has disclosed.

The debt profile includes the more than ₦600 billion bailout fund which President Muhammadu Buhari gave to states in 2016 in the wake of falling oil prices at the international market. The states had complained that they were unable to pay salaries and meet operational costs.

Although Lagos is one of the few states that …

Federal Government’s Domestic Debt Rises By ₦1.26tn

October 3, 2019 3:36 am

The Federal Government’s domestic debt outstanding rose by ₦1.26tn to ₦13.41tn as of June 2019, over the figure for the corresponding period of 2018.

This was disclosed in the Central Bank of Nigeria’s half-year report on Federal Government’s domestic debt.

Part of the report read, “The total domestic debt outstanding at the end of June 2019 stood at ₦13.41tn, representing an increase of ₦1.26tn or 10.38 percent, over ₦12.15tn in the corresponding period of 2018.”

It explained that the debt stock during the review period comprised the Federal Government of Nigeria’s bonds worth ₦9.69tn or 72.26 percent, Nigerian Treasury Bills …