Nigeria Economy


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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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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Securities and Exchange Commission (SEC)

SEC commends DMO on FGN proposed ₦100bn Sukuk debt issue

Nigeria’s apex capital market regulatory authority, the Securities and Exchange Commission (SEC) has commended the Debt Management Office (DMO) for the proposed Federal Government maiden ₦100.0 billion Islamic debt instrument (Sukuk) in the Nigerian Capital Market. According to the apex regulator, the debt instrument is a major milestone for Nigeria as it would catalyze the […]

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Debt Management Office, DMO

FG to issue more bonds to provide opportunities – DMO

As Nigeria continues to savour the success of its maiden Diaspora bond and prepares for the issuance of its first-ever sovereign Sukuk, the Federal Government yesterday affirmed that it will explore issuance of more innovative bonds to provide opportunities for all segments of populace to participate in the national economic development. Director-General, Debt Management Office […]

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