Nigeria Economy

ICT will resuscitate Nigeria economy – Shittu

Minister of Communications, Mr. Adebayo Shittu, has said that the ministry would leverage on information and communication technology (ICT) to rejuvenate the Nigeria’s economy as well as encourage online jobs through the implementation of various initiatives. The minister stated this recently in a keynote address at the opening ceremony of the Ife Youths Economic Summit […]

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Nigeria Customs Service, NCS

Customs to e-auction seized goods from July 1

The Nigeria Customs Service (NCS) will sell seized goods from Saturday when its auction online portal is opened. Its Public Relations Officer (PRO), Mr Joseph Attah, said the goods would be sold to the highest bidders. Attah, a Deputy Comptroller of Customs, also said the NCS has embarked on campaigns on the trade facilitation programme […]

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CBN positive on 6.1 million tonnes rice target this year

The Central Bank of Nigeria (CBN) has assured that Nigeria would meet its 6.1 million tonnes rice demand by the end of this year’s harvest season. Acting Director, Corporate Communications of the bank, Mr. Isaac Okoroafor, who disclosed this in Awka during a three-day sensitisation workshop for the people of Anambra State, said already the […]

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Udoma warns MDAs against Budget padding

Minister for Budget and National Planning, Mr Udoma Udo Udoma, has warned Federal Government Ministries, Departments and Agencies (MDAs) against padding their personnel budget proposals for the 2018 fiscal year. The Minister gave the warning in a circular to the Chief of Staff to the President, the Deputy Chief of Staff to the Vice President, […]

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Obasanjo’s OOPL partners with AfDB, IITA, to launch ‘Zero Hunger Forum’

Former President Olusegun Obasanjo is partnering with the African Development Bank (AfDB), the Olusegun Obasanjo Presidential Library (OOPL) and International Institute of Tropical Agriculture (IITA) to launch a new agricultural production initiative known as the Nigeria Zero Hunger Forum (NZHF). The forum targets boosting food production and ending hunger in the country by 2030. A […]

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Afreximbank raises $750m in euro note for Nigeria, other borrowers

The African Export-Import Bank (Afreximbank) said it has successfully raised $750 million note under its Euro Medium Term Note programme, in a move to boost lending to African borrowers who would enjoy the positive effects of the reduction in cost of funds. As a frontline financial institution in the pursuit of trade and economic integration […]

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High interest rate holding down economic growth

Nigeria’s Organised Private Sector (OPS) has implored monetary authorities to take acceptable measures in reflating the economy through monetary easing and reduction of the high interest rate, which it said are currently stifling economic growth in the country. The Nigerian Employers Consultative Association (NECA), at the quarterly meeting of its Governing Council in Lagos, said […]

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Over 90 foreign investors to participate in Nigeria’s 4 in 1 Intn’l expo

Over 90 foreign companies from 10 countries are participating in this year’s Nigeria’s 4 in 1 International Trade Expo, which holds in Lagos from July 13 to 15, 2017. According to the organiser, Elan Expo, it is the second edition of the International Trade Fair attended by 70 companies from across the globe last year. […]

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EU denies rejecting 24 Nigeria export products

The European Union has denied reports that it rejected 24 Nigerian products. A report credited to the National Agency for Food and Drug Administration and Control two weeks ago had indicated that the EU rejected 24 Nigerian exported food products in 2016 for failing to meet the required standards. The union said that contrary to […]

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FG, States, LGAs share ₦462.3 billion revenue in June

The Federal, 36 States and 774 Local Government Areas in the country shared shared ₦462.359 billion as revenue from the federation account for June . Of total statutory allocation, federal government received ₦147.682 billion, states got ₦74.906 billion; local government got ₦57.750 billion while ₦20.505 billion went to the oil producing States as 13 per […]

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Osinbajo to launch plans to increase tax awareness

The Acting President, Professor Yemi Osinbajo will launch the Voluntary Asset and Income Declaration Scheme (VAIDS) on Thursday, June 29. According to a statement from the Federal Ministry of Finance on Friday, the VAIDS outlines the Federal Government’s plan to increase tax awareness and compliance, as well as grant taxpayers a time-limited opportunity to regularise […]

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Stakeholders back Nigeria’s navigation out of recession

Skakeholders in the Nigerian economy, have expressed the belief that the country has come out of its the worst of its recession. At the CEO Roundtable held recently at the Nigerian Stock Exchange (NSE), stakehoders said while the lasted, businesses suffered erosion in bottom lines, forcing them to tweak models to stay in business and […]

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