Nigeria Economy

Yemi Osinbajo

Nigeria economy will bounce back in 18 months – Osinbajo

The Acting President, Professor Yemi Osinbajo has promised a major turnaround for Nigeria in the next 12 to 18 months. To achieve this, Professor Osinbajo has asked the private sector to partner with the Federal Government and help upscale the nation’s economy. The Acting President made the call on Tuesday at the fourth Presidential Quarterly […]

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“We cannot borrow anymore”, says finance minister

Nigeria must not borrow more to fund its budget and should instead raise any more money it needs by other means such as taxes, the country’s finance minister said on Tuesday. According to Reuters, Finance Minister Kemi Adeosun made the comments while speaking at a business forum in the capital of Abuja. “We cannot borrow […]

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Fix bureaucracy to make Nigeria business ready, Elumelu charges FG

Chairman, Heirs Holdings, Tony O. Elumelu, CON, charged the public sector to urgently fix bureaucracy and the process of doing business in Nigeria to promote, attract and retain willing investment partners in the country. He made this call yesterday while discussing the topic “Nigeria Open for Business” at the 2017 National Insurance Conference organised by […]

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Nigeria to insure national assets – Finance minister

The Federal Government of Nigeria has made its intentions known to ensure adequate insurance of all assets. The Minister of Finance, Mrs. Kemi Adeosun, said this during the National Insurance Conference of the Insurance Industry Consultative Council with the theme: ‘Nigeria open for business’, in Abuja on Monday. Adeosun said, “Foreign investors have shown great […]

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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, […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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