Busola Arothe N47.9 trillion 2025 budget to the national assembly on December 17.Advertisement
The expenditure framework also has a new borrowing plan of N9.22 trillion which constitutes both domestic and foreign borrowingsa $315 million floating production, storage, and offloading vessel to boost Nigeria’s oil production capacity.Operated by Oriental Energy Resources Limited, the FPSO vessel, with a storage capacity of one million barrels, is expected to kick off with an initial production of 17,000 barrels per day before increasing its output capacity to 30,000 bpd.
In a statement on Friday, Hakama Sidi Ali, CBN’s acting director of corporate communications, addressed the ongoing misinformation concerning the validity of the old N1,000, N500, and N200 banknotes currently in circulation.Ali said the supreme court ruling of November 29, 2023, permits the concurrent use of all versions of the affected denominations indefinitely, dismissing any claims suggesting an expiration date.