Nigeria Economy

Lottery to generate ₦141.3 billion for Nigeria

Western Lotto Nigeria Limited has disclosed that lottery can generate over ₦141.3 billion annually for the development of Nigeria’s economy. Speaking during the launch of the company in Lagos yesterday, the Managing Director, Western Lotto Nigeria, Mr. Elvis Krivokuca, said the company seeks to create opportunities through extended value-chain of distributors, agents, business centres, portals, […]

Read More

Only three million Nigerians have insurance policies

The Minister of Finance, Mrs kemi Adeosun, on Monday said that only three million out of 180 million Nigerians possessed insurance policies to protect themselves from uncertainties. Adeosun, who made the disclosure at the ongoing 2017 National Insurance Conference (NIC) in Abuja, noted that insurance was playing critical roles in the economy. The theme of […]

Read More

LASG targets growth, job creation in 2018 budget

The Lagos State Government is planning to enhance economic growth, job creation and boost ongoing transport and infrastructural development across the state in 2018. The Commissioner for Finance, Economic Planning and Budget, Mr. Akinyemi Ashade, made this known during the 2018 Budget Engagement Forum organised by the state in the Lagos Central Senatorial District on […]

Read More

Recession, forex crisis limiting Nigeria auto industry

To talk about the competitive strength of Nigeria’s automobile industry is to be making a mere rhetoric in an area that is relatively unknown in the country. The number of used cars, as well as brand new ones being imported into the country speaks volumes of Nigeria’s long way to a virile, competitive and strong […]

Read More
Godwin Emefiele

Nigeria will fall back to single digit inflation – CBN

Buoyed by the rate of the economy’s recovery, the Central Bank of Nigeria (CBN) is confident that the country will return to single digit inflation rate. CBN Governor Godwin Emefiele, in an interview with Arise Television yesterday, said with the improvement seen in growth from the negative 1.7 per cent in the last quarter of […]

Read More

Manufacturers spend ₦378b on power generation in 3-years, MAN laments

Manufacturers have expended over ₦378billion on power generation to run their operations in the last three years, the President of the Manufacturers Association of Nigeria (MAN) Dr Frank Udemba Jacobs said. This is due largely to unreliable public grid power supply across the country. According to MAN boss, manufacturers of consumable and non-consumable products spends […]

Read More

2017 Budget: Nigeria to borrow ₦2 trillion amid foreign debts of ₦19 trillion

Minister of Budget and National Planning, Senator Udoma Udo Udoma, has said that the Federal Government will not jettison its plan to borrow the sum of ₦2 trillion to finance the 2017 Budget despite Nigeria’s local and foreign debt currently standing at ₦19 trillion. Speaking to newsmen after appearing before the National Working Committee of […]

Read More

Central Bank injects $254.3m into retail part of Nigeria

In line with naira sustenance programme, the Central Bank of Nigeria (CBN) yesterday injected $254.3 million into the retail segment of the Nigerian inter-bank foreign exchange market. Information obtained from the CBN, yesterday, indicated that the deals in the retail window represent requests from the various sectors in the Secondary Market Intervention Sales (SMIS), thereby […]

Read More
Federal Government

Nigeria boosts housing with ₦100 billion

The Executive Secretary of Federal Government Staff Housing Loans Board, Dr Hannatu Fika, says the Federal Government has provided ₦100bn to bridge the housing gap through the department. Fika on Friday said that FGSHLB has changed the lives of 30,000 Federal Government workers who now own their houses through the Family Home Fund. She explained […]

Read More

UNIDO to empower 500,000 Nigerian SMEs with skills

The United Nations Industrial Development Organisation is set to empower over 500,000 Small and Medium Enterprises, especially operators in the non-oil sector, with adequate skills to enhance their operations and contribute significantly to the nation’s Gross Domestic Product in the next two years. The Chief Technical Adviser, Investment Promotion Division, United Nations Industrial Development Organisation, […]

Read More

Lawmakers move to expand Institute of Stockbrokers

The Vice Chairman, Senate Committee on the Capital Market, Senator Festus Ogwuma, has announced that the bill to expand the scope of operations of the Chartered Institute of Stockbrokers (CIS) to serve as the hub of all professional associations in Nigeria was on the verge of being passed into law. This was as the Finance […]

Read More

FG to issue ₦135 bn bonds on July 12 – DMO

The Federal Government plans to sell ₦135 billion worth of bonds in its July 12 auction, the Debt Management Office (DMO) has said. The offer circular, which was obtained from its website on Wednesday in Abuja, said it would sell ₦35 billion of bonds that would mature in July 2021 at 14.50 per cent. It […]

Read More