Nigeria Economy


LCCI: FG urged to reduce excessive taxation on oil & gas investment

The Lagos Chamber of Commerce and Industry, LCCI, yesterday called on the federal government to reduce the burden of excessive taxation on oil and gas investment in the country. The President of LCCI, Mr. Babatunde Ruwase made this call in a parley with pressmen on the agenda for the new government, adding that, there is […]

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Chief Executive of Dangote Industries Limited Aliko Dangote speaks at the Bloomberg Global Business Forum in New York

Election period or not, things are going to continue to grow, Africa’s richest, Dangote says

President of Dangote Group, Aliko Dangote, has said there are better days ahead for the business community in Nigeria, despite the elections ongoing in the country. Dangote, who spoke on a Channels Television programme in Lagos, yesterday, said there was a lot happening in Nigeria, adding that elections did not deter his companies from investing […]

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Aliyu Aziz, NIMC

NIMC begins enrolment of Nigerian in South Africa

The National Identity Management Commission (NIMC), the agency mandated to manage the national identity database of the country is set to commence enrolment of Nigerian in South Africa into the national identity database for the purpose of issuing the National Identification Number (NIN). The commencement of the diaspora enrolment in South Africa was in collaboration […]

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Ibukun Awosika

Awosika advocates support for entrepreneurs to drive economic growth, job creation

The Chairman of First Bank of Nigeria Limited, Mrs. Ibukun Awosika, has stressed that entrepreneurship is a key driver for economic growth and job creation. Awosika, stated this at the weekend in Lagos, at the bank’s 125 anniversary flag hoisting. She noted that as an institution, the bank has been aggressive in terms of helping […]

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Nigerian Women Embrace Family Planning Ahead Of Population Boom

‘MSMEs represent 96 pct of business activities in Nigeria’

The Director General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Dr Dikko Umaru-Radda, has said MSMEs represent 96 per cent of business activities in the county. Umaru-Radda said this in Bauchi at the unveiling of the Conditional Grant Scheme (CGS). Making reference to a survey, he said 37 million MSME engaged 59.7 million […]

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Nigeria’s foreign trade volume increases by 39 pct – NBS

The National Bureau of Statistics (NBS) said the country recorded a total trade value of ₦32.26 trillion year-on-year in 2018, representing 39.3 per cent increase over the corresponding period in 2017. The trade value for 2017 stood at ₦23.16 trillion. The NBS said this in its Foreign Trade in Goods Statistics for Fourth Quarter of […]

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Nlc Protest, Labour leaders during the rally to create awareness on the new Minimum Wage for workers organised by the Nigeria Labour Congress

NLC to rescue Ogun state workers from Amosun

The leadership of the Nigeria Labour Congress (NLC) has said it must rescue Ogun workers from some alleged anti-labour practices of the state governor, Mr Ibikunle Amosun. Mr Ayuba Wabba, the NLC President made the position of the congress known in a statement on Friday night in Abuja. Reports have it that there has been […]

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Obaseki inaugurates 17-member Edo State Primary Health Care Board

Edo State Governor, Mr. Godwin Obaseki, has charged the newly inaugurated 17-member Edo State Primary Health Care Board, to deepen the revamp of the state’s primary health care system for responsive, efficient and accessible health care delivery. The governor, who gave the charge at the inauguration of new members of the board in Government House, […]

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Downward Chart 1

Foreign investments inflow in oil sector dips to $134 mln in one year

Foreign investment inflow into the Nigeria oil and gas industry declined sharply by 59.7 per cent to $133.51 million in 2018, compared to $331.36 million recorded in 2017, according to data obtained from the National Bureau of Statistics, NBS. Using current exchange rate of ₦306.75 to a dollar, $133.51 million foreign capital inflow into the […]

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Executive Chairman of Nigeria's Federal Inland Revenue Service (FIRS), Mr Tunde Fowler speaks during an exclusive interview with Reuters in Abuja, Nigeria, September 21, 2016. Photo taken September 21, 2016. REUTERS/Afolabi Sotunde

Multiple taxation don’t exist in Nigeria – Fowler

The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has said multiple taxation does not exist in the country’s tax system. This is just as he urged stakeholders both in the organised private and public sectors to expedite action in payment of taxes. Speaking in an interactive session held in Lagos, with the […]

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JAMB exam

UTME: JAMB generated ₦849 mln in one week

As prospective candidates for the 2019 Universal Tertiary Matriculation Examination, UTME continue registration, the Joint Admissions and Matriculation Board, JAMB, said it has generated the total sum of ₦849 million in one week. The money which the board explained in its weekly news bulletin, was raised from the sale of the UTME registration and some […]

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Aliyu Aziz, NIMC

FG harps on newly launched digital identity ecosystem

The federal government has reiterated the importance of the newly launched Digital Identity Ecosystem programme, insisting that it will help facilitate the collection of citizens’ biometric data nationwide within the shortest time possible. The Director-General of the National Identity Management Commission (NIMC), the agency charged with the mandate to manage the national identity database in […]

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