Nigeria Economy

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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Norway pledges support to Nigeria’s INEC

The Kingdom of Norway on Tuesday assured that it would deploy necessary resources to assist the Independent National Electoral Commission (INEC) to deliver on its mandate. The Ambassador of Norway to Nigeria, Mr Jens-Petter Kjemprud, gave the assurance when he visited the INEC’s headquarters in Abuja. Chief Press Secretary to INEC Chairman, Mr Rotimi Oyekanmi, […]

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Dakuku Peterside

NIMASA bags ‘Public Service Organisation of the year’ award

The Nigerian Maritime Administration and Safety Agency (NIMASA) has bagged the “Public Organisation of the Year” Award, organised by TELL Communication Limited to mark the maiden edition of its yearly Awards for Excellence. Its Director-General, Dr. Dakuku Peterside, received the award at the Civic Centre, Victoria Island, Lagos. The promoters of the event said NIMASA […]

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Total pension assets rise to ₦6.4 trillion

The total pension assets under the Contributory Pension Scheme rose to v6.4tn at the end of April this year. Figures obtained by correspondent from the National Pension Commission revealed that 55 per cent of the fund, totalling ₦3.6tn, was invested in FGN bonds. According to the commission, the fund rose from ₦4.6tn at the end […]

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‘Sugar importation continues to rises at ports’

Despite the Federal Government’s plan to produce 200,000 metric tonnes of sugar yearly, its importation rate has risen. Correspondent gathered this, that the country has been producing only 70,000 tonnes, far off its target because of poor infrastructure and high cost of manufacturing refined sugar. Findings revealed that between April this year and this year […]

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Pipeline vandalism rate edge down 13 pct

Vandalism of oil pipelines in the downstream sector of the petroleum industry recorded a drop of 12.77 per cent in April 2017, the monthly financial and operations report of the Nigerian National Petroleum Corporation has showed. According to the report, which was released in Abuja on Monday, downstream pipeline sabotage decreased from 94 vandalised points […]

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CBN hq

Nigeria to spend $300 million loan on home scheme programme

The Federal Government has unveiled a $300 million World Bank loan facility to support new housing scheme known as the National Housing Finance Programme (NHFP). The initiative, according to the Deputy Director, Other Financial Institutions of the Central Bank of Nigeria (CBN), Mr Adedeji Adesemoye is a Public Private Partnership (PPP) programme, designed to improve […]

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Unemployment rise, ₦25 billion LSETF to the rescue

At the last count, 29 million Nigerians are jobless, according to the National Bureau of Statistics. But the Lagos State Government through the ₦25 billion Lagos State Employment Trust Fund (LSETF) has launched a massive programme to fund job placement services and training programmes for the unemployed. The initiative, if replicated by other states, could […]

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NECA expresses concern over non-approval of SEC, PenCom, others constitution

The Nigeria Employers Consultative Association, NECA, has expressed concern over the non-approval by the National Assembly of Board of some key regulatory agencies, including the Securities and Exchange Commission, SEC; National Pensions Commission, PenCom; Financial Reporting Council of Nigeria, FRCN; and Nigerian Social Insurance Trust Fund, NSITF. Speaking at a press conference to mark the […]

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Nigeria drops to 119 in the 2017 global innovation index

Nigeria has moved down by five places to 119 out of 127 economies ranked in the 2017 Global Innovation Index from the 114th position it attained in 2016. The index measures innovation performance in countries globally. A report on the ranking stated that Nigeria performed poorly in the areas of political stability and safety, rule […]

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