Nigeria plans to raise 710 billion naira ($2.26 bln) via restructuring of its equity in joint venture oil assets and increasing private sector participation, the Debt Management Office (DMO) said on Thursday.

Oil companies including Royal Dutch Shell, Chevron and ExxonMobil, operate in Nigeria through joint ventures with NNPC. The government has considered selling stakes in these joint ventures for more than a decade.

The Nigerian National Petroleum Corporation (NNPC) has mapped out strategies to boost security around its depots and pump stations to ensure they remain functional. A statement by Mr Ndu Ughamadu, NNPC Group General Manager, Public Affairs Division, said this was part of efforts to consolidate on the successes recorded in the steady supply and distribution of petroleum products across the country.

The Minister of Finance, Mrs Kemi Adeosun, has expressed confidence that the Federal Government’s revenue and debt management strategy would mitigate the country’s debt service risk and fast-track development.

Adeosun, in a statement by her Special Advicer on Media, Mr Oluyinka Akintunde, on Thursday welcomed the advice of the International Monetary Fund in regards to the country’s decision to take more foriegn loans.

A Nigerian company, Oldang International Limited, on Sunday launched the sale of solar-powered tricycles to enhance public transportation in the country.

Chief Executive of the company’s, Mr Olubunmi Oluwadare, said at the launch in Lagos that the solar- powered, fuel-less tricycle popularly called “keke” would gradually phase out petrol engine tricycles across the country.

The Managing Director of Transmission Company of Nigeria (TCN), Usman Mohammed, said it was seeking $200 million loan from the African Development Bank (AFDB) to boost electricity in the northeast.

He disclosed this during the commissioning of a 40MVA mobile transformer in Zaria, Kaduna State.

The International Monetary Fund has advised the Federal Government to urgently revisit tax holidays and exemptions given to companies. It specifically urged Nigeria to implement a reform that would see it phase out tax holidays and exemptions eroding the Company Income Tax base.

Successive governments had granted controversial tax holidays and waivers, which were described as forms of corruption.

The Naira on Monday traded at N360.16 to the dollar at the investor’s window, the News Agency of Nigeria (NAN) reports.

The Nigerian currency exchanged at N362 to the dollar at the parallel market, while the Pound Sterling and the Euro closed at N475 and N425.

Guinness Nigeria Plc has posted 30 per cent growth in revenue for the first quarter ended Sept. 30, 2017, the News Agency of Nigeria (NAN), reports.

The company in a result declared on the Nigerian Stock Exchange (NSE) on Friday, said that the revenue stood at N29.9 billion compared to N23.02 billion achieved in the comparative period of 2016.

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu said the Federal Government is working with the Department of Petroleum Resources, (DPR), to develop an Information Technology (IT) platform for the Nigeria’s crude oil tracking

Kachikwu in a podcast released in Abuja on Monday said that from 2019, the country would begin tracking of its crude oil.

The Federal Government says it has recovered $85million from the United Kingdom as part of the stolen funds from the Malabu Oil deal.