There are strong indications that Nigeria’s oil output, and by extension the nation’s N7.44 trillion 2017 may be facing new threat as attacks on oil facilities gradually return to the Niger Delta.

The Rice Farmers Association of Nigeria (RIFAN) says it will reduce the price of locally produced rice from N18,000 per 50kg bag to N6,000 within the next few months, according to the News Agencu of Nigeria, NAN. Alhaji Aminu Goronyo, the National President of RIFAN, said this during a meeting with Rice Processors Association of Nigeria (RIPAN) and the Minister of Agriculture and Rural Development, Chief Audu Ogbeh, in Abuja on Wednesday.

The Bankers Committee says commercial banks will start the disbursement of the N26 billion equity contributions to Small and Medium Enterprise (SMEs) in agriculture by end of 2017 third quarter.

The Ministry of Petroleum Resources said that the memo from the office of the Minister of State for Petroleum Resources to President Muhammadu Buhari is a normal procedural correspondence relating to developments in parastatals under his supervision.

The National Bureau of Statistics (NBS) says Nigeria has realised more than N118 trillion from crude production and refining from 1961. The NBS report, which has additional data from the Nigerian National Petroleum Corporation (NNPC), collated its statistics from 1961 till 2014.

Nigeria’s Consul-General in Guangzhou, China, Mr Wale Oloko, said on Tuesday that no fewer than 36 Nigerian Small and Medium Enterprises would be participating in the forthcoming China International Small and Medium Enterprise Fair, according to the News Agency of Nigeria, NAN.

Nigeria has revised its policy on Population for Sustainable Development to engender an improvement in the living standards of the people.

Electricity workers at the Jebba Hydro Power Plant in Niger State under the aegis of the National Union of Electricity Employees (NUEE) are at logger heads with the management of Mainstream Energy over alleged sack and victimisation of workers. The union members held a protest in front of the power plant to demand the unionisation of their workers and recall of sacked workers.

Central Bank of Nigeria (CBN), in continuation of its efforts to sustain FOREX liquidity in the country has intervened in the inter-bank Foreign Exchange Market to the tune of $195 million. Figures released by the Bank show that it offered the total sum of $100 million to the wholesale segment, while the Small and Medium Enterprises (SMEs) segment received the sum of $50 million.

Electricity consumers who bypass their meters will be forced to pay up to N450,000 as fine, the Nigerian Electricity Regulatory Commission has declared.