Nigeria Economy

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

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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nafdac

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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Babatunde Raji Fashola

FG to partner private sector in housing development – Fashola

Minister of Power, Works and Housing, Babatunde Fashola (SAN), has disclosed that the Federal Government was ready to collaborate with the private sector in housing and urban development to provide affordable houses. Fashola made the pledge in a statement by Mrs Eno Olotu, Assistant Director, Information (Housing), of the ministry in Abuja on Thursday. The […]

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Nigeria Senate Assembly

Senate working on bill to curb increase in house rents

The Senate is working on a bill that will check the incessant increase in house rents in Abuja and other parts of Nigeria, the Senate Committee Chairman on Federal Capital Territory, Senator Dino Melaye, has said. He stated that the ‘Rent Edit’ bill would protect tenants and landlords even as he promised that lawmakers would […]

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DMO will do more after my exit – Nwankwo

The outgoing Director General of Debt Management Office (DMO) Dr Abraham Nwankwo, has assured that his exit will not affect the performance of the agency, but would better initiatives from the team he is leaving behind. Nwankwo disclosed this Wednesday, on the floor of Nigerian Stock Exchange (NSE) at his validatory closing bell ringing of […]

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