Nigeria Economy

CBN declares eCCI import process for foreign investors

Amid excitement of inflow of over $7 billion into the economy in nearly five months via the Investors’ & Exporters’ Forex Window (I&E), the Central Bank of Nigeria (CBN) has instructed banks and other authorized dealers to implement electronic Certificate of Capital Importation (eCCI) for foreign investors. According to correspondent, the Certificate of Capital Importation […]

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Lawmaker urge Nigerians to patronise local goods to grow economy

A Lagos lawmaker on Friday appealed to Nigerians to patronise locally-produced goods and services to propel the growth of the economy. Mr Setonji David, representing Badagry Constituency II at the Lagos State House of Assembly, made the appeal in an interview in Lagos. David said that patronage of local products remained the panacea to most […]

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Nigerians standard of living will improve with recession gone – Minister

Nigeria’s Minister of Information and Culture, Lai Mohammed, has assured that standards of living of Nigerians will improve as the country exited recession. The minister gave the assurance on Friday in Abuja when he received Broadcast Media Editors in his office. He urged well-meaning Nigerians not to listen to pessimists who he accused of downplaying […]

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LCCI wants provision of greater market access for SMEs

Lagos Chamber of Commerce and Industry has said that there is a need to provide greater market access for operators in the Small and Medium Enterprise sector of the Nigerian economy. The President, LCCI, Dr. Nike Akande, said this in an interview with our correspondent after the opening ceremony of the LCCI Members’ Day Exhibition […]

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Nigeria can achieve 7% GDP with sufficient electricity, says Siemens CEO

Siemens Nigeria CEO, Mrs. Onyeche Tifase said that Nigeria has the potential to achieve 7.0 per cent gross domestic product, GDP, growth rate and lift 70 million people above poverty provided there is sufficient access to electricity across the country. Making this observation in Lagos, yesterday, Mrs. Onyeche Tifase, cited deployment of smart metering technology […]

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Yemi Kale, NBS

‘Recovery from recession impact on the street is a gradual process’

Nigeria’s exit from recession continues to elicit mixed reactions. Statistician General, Dr. Yemi Kale, has given more insight into the report, noting that the impact of recovery on the streets is a gradual process. Kale, who is the Chief Executive Officer of National Bureau of Statistics, NBS, which reported that the nation’s GDP grew by […]

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Nigeria will learn sustainable economic recovery from Tanzania’s experience – MAN

Tanzania is set to take Nigeria through stages of sustaining economic recovery following its exit from recession in order to prevent a relapse. According to correspondent, the President, Manufacturers Association of Nigeria, Dr. Frank Jacobs, stated this on the sidelines of the pre-Annual General Meeting media briefing in Lagos on Wednesday. Jacobs said the former […]

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Over 30 countries will participate in Abuja’s 12th Trade Fair

The Abuja Chamber of Commerce and Industry (ACCI) Director General, Mr. Chijioke Ekechukwu, has said that more than 30 foreign countries would be participating in this year’s 12th edition of Abuja International Trade Fair, which will be declared open by Vice President Prof. Yemi Osinbajo. Ekechukwu, who made the disclosure in Abuja, during a media […]

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‘FX from non-oil export can spur Nigeria’s economic growth’

The Nigerian Export Promotion Council (NEPC) has said that only forex earnings made from export of non-oil products will spur Nigeria’s sustainable economic growth,. Its Chief Executive Officer Mr. Segun Awolowo made this known at the Quarterly Lecture organised by the former Director General of National Poverty Alleviation Programme (NAPEP), Dr Magnus Kpakol, in Abuja. […]

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Nigeria Customs Service, NCS

Nigeria customs stops cross-examination of cleared cargoes at ports

The Nigeria Customs Service has directed that any consignment duly released at the terminals should no longer be subjected to Customs cross examination at the exit gate. A circular issued by the Officer in Charge, Customs Intelligence Unit, Tin Can Island command, Suleiman Bomoi, confirmed this. The Customs regularly cross examines goods at the exit […]

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Babatunde Raji Fashola

Mass construction of estates commences in 33 states

Federal Government has commenced the construction of mass housing projects in 33 states. To actualise the project, it plans an upward review of mobilisation funds for contractors up to 50 per cent to enable emerging contractors in the building sector deliver their projects satisfactorily. The minister of Power, Works and Housing, Babatunde Fashola, who disclosed […]

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NPA commits ₦1.8 billion to Apapa Road reconstruction

Nigerian Ports Authority (NPA) yesterday said that it has so far committed ₦1.8 billion to the reconstruction of the Wharf Road and contractors from Messers AG Dangote Construction Company were mobilised to site since July 2017. Assistant General Manager, Public Affairs of the authority, Mr. Ibrahim Nasiru, said in a statement that, as a result, […]

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