Economy

Nigeria’s Debt Profile Now $7.8Trillion – Moghalu

Ihesiulo Grace 21 June 2021 0

Nkiru Nwagbo, Awka Former Central Bank of Nigeria Deputy Governor Prof Kingsley Moghalu yesterday announced that the country’s debt profile has reached the sum of 7.8 trillion dollars in the last three years. Moghalu who disclosed this at Nnamdi Azikiwe University during the Kwechiri

Business Economy

Cut operational cost to catalyse business environment, economy –shareholders urge listed companies

Ihesiulo Grace 7 April 2021 0

The Shareholders Association, Ibadan Zone, has urged companies in Nigeria to be decisive and cut operational costs to catalyze the business environment in the face of economic challenges. The chairman of the association, Mr. Eric Akinduro, gave the advice in an interview with the News Agency of Nigeria (NAN) in Ibadan, the Oyo State capital, […]

Business Economy

Gold deposit discovered along Abuja-Nasarawa border – FG

Ihesiulo Grace 19 March 2021 0

Minister of Mines and Steel Production Olamilekan Asegbite says the recently discovered gold deposit along the Abuja-Nasarawa axis will be produced in Nasarawa state. On Wednesday, Adegbite paid Nasarawa state governor Abdullahi Sule a courtesy visit in Abuja. The mineral resources were discovered, according to the minister, during an integrated mineral exploration project

Business Economy

Naira4Dollar: MAN, LCCI laud CBN’s move to address forex squeeze

Ihesiulo Grace 9 March 2021 0

Industrialists and manufacturers on Monday said the Naira 4 Dollar Scheme, an initiative by the Central Bank of Nigeria to encourage diaspora remittances would help stabilize the forex situation of the country. They made the assertion in separate interviews with the News Agency of Nigeria (NAN) on Monday in Lagos. NAN reports that the CBN […]

Business Economy

Oil slips after hitting pandemic high above $70

Ihesiulo Grace 8 March 2021 0

On Monday, Oil prices slipped after earlier climbing above $70 a barrel for the first time since the COVID-19 pandemic began after attacks on Saudi Arabian oil facilities. Yemen’s Houthi forces fired drones and missiles at the heart of the Saudi oil industry on Sunday, including a Saudi Aramco facility at Ras Tanura vital to […]

Business Economy

Nigerian economy out of recession – FG declares

Ihesiulo Grace 19 February 2021 0

The Federal Government (FG) has said that the Nigerian economy is out of recession with 0.11 percent Gross Domestic Product (GDP) recorded in the last quarter of 2020. The Minister of State, Budget and Economic Planning, Mr. Clem Agha, announced this in Imo on Thursday at the commissioning of a 3.5-kilometer ring road, executed by […]

Agriculture Economy

Food security: Kogi Government Signs Two Loans Agreement

Ihesiulo Grace 12 February 2021 0

On behalf of the Kogi State Government, the Kogi State Commissioner for Economy, Budget and Economic Planning, Asiwaju Idris, concluded two separate subsidiary loan agreements yesterday in Abuja with the International Fund for Agricultural Development (IFAD) and the World Bank. The project is to be funded jointly by the World Bank, the Agency for French […]

Economy Society

Zamfara Women’s Empowerment Scheme

Ihesiulo Grace 12 February 2021 0

One thousand and eight hundred women were empowered with twenty thousand Naira each from the fourteen local government areas of Zamfara state to enable them to do business. The First Lady of the State of Zamfara, Aisha Mohammed, said that under her office, the Women’s Empowerment Scheme had adopted a new policy that would encourage […]

Economy

‘How #EndSARS, COVID-19 will push Nigeria’s BOP negatively’

Ihesiulo Grace 9 November 2020 0

By Tunde Shorunke Nigeria has been an import-dependent country and industry experts have opined that the nation’s Balance of Payment (BOP) will be negatively impacted due to the adverse effect of the #EndSars protest and the COVID-19 pandemic ravaging economic activities. Concerning different point of view from experts, Nigeria is said to be certain of […]

Economy

AfCFTA take off: We’re addressing concerns of transhipment — Mene

Ihesiulo Grace 21 September 2020 0

Philip Clement, Abuja AfCFTA – As part of measures to ensure the smooth take off of the Africa Continental Free Trade Area agreement (AfCFTA), concerns relating to transhipment and other trade barriers will be addressed, Secretary General of AfCFTA, Wamkele Mene has said. READ ALSO: Implementation of AfCFTA agreement our own stimulus, economic relief package-Mene

Economy Headlines

Income Tax: FG asks Nigerians to go to banks to fill self-certification forms

Ihesiulo Grace 18 September 2020 0

The Federal Government has directed all account holders in the country to obtain and fill self-certification forms in line with the Income Tax Regulations 2019. READ ALSO: FG, sates get N99.26bn income tax returns from seven… This directive was contained in a series of tweets on Thursday stating that each account holder must submit the […]

Business Economy

BREAKING: Nigeria’s debt hits ₦31trn, increases by ₦2.3trn – DMO

Ihesiulo Grace 9 September 2020 0

DMO debt – The Debt Management Office on Wednesday has released Nigeria’s total public debt stock as of June 30, 2020, DMO reports that the country’s entire debt  rounded off at ₦31trn, which indicates an increase of ₦2.38trn within a space of three months. READ ALSO: World Bank warns over $55trn debts in emerging… Daily […]

Economy News

We know what Nigerians are facing — Lai Mohammed

Ihesiulo Grace 8 September 2020 0

The minister of information, Lai Mohammed claims that the opposition and their allies are taking advantage of the new electricity tariff and increase in petrol price to play dirty politics, Daily Times gathered. Mohammed said in a press conference on Monday in Abuja that subsidising petrol is no longer feasible due to the overwhelming economic […]

Economy News

FG will spend ₦2.3tn to revive the economy — Adesina

Ihesiulo Grace 7 September 2020 0

The Special Adviser to the President on Media and Publicity, Mr Femi Adesina, has said the Federal Government will spend ₦2.3tn to revive the nation’s economy as part of the Nigeria Economic Sustainability Plan (NESP) to ameliorate the effects of COVID-19, Daily Times gathered. Adesina disclosed the information in a presentation at the 2nd Annual […]

Economy News

The economy will recover by January 2021 — Minister

Ihesiulo Grace 7 September 2020 0

The Minister of State for Budget and National Planning, Clem Agba, has said the Federal Government’s National Development Plan for the year 2020-2025 can help accelerate the numerous various regional and global agendas of the government, Daily Times gathered. He stated that the nation is on course for an economic recovery. Agba said his ministry […]

Economy

‘World economy heading towards recession’

Ihesiulo Grace 2 September 2020 0

By Godwin Anyebe The Chief Executive Officer of Mascot IT, an ICT firm, Agbolade Omowole, has said that the global economy may be heading towards a recession post COVID-19. Agbolade who made this known during a two days virtual meeting held by Mascot IT with the aim to help Nigerians navigate through the storm that […]

Economy News

No more federal allocation for FIRS, Customs, NBC, 57 others – Senate

Ihesiulo Grace 30 August 2020 0

The Senate will advise the Federal Ministry of Finance, Budget and National Planning that 60 federal agencies should be removed from the beneficiaries of allocation from the national budget, starting from next year, DAILY TIMES gathered. The Federal Inland Revenue Service, Nigeria Customs Service, Security and Exchange Commission, National Broadcasting Commission, and Oil

Economy News

‘Anti-graft campaign needs public, private synergy to succeed’

Ihesiulo Grace 28 August 2020 0

By Henry Omunu Stakeholders in the anti-corruption campaign of the Federal Government have called for a holistic approach to curbing graft in the country, declaring that synergy between the public and private sector is required for the anti-corruption crusade to yield desired dividends. They made the submission at a virtual dialogue titled: “Collective responsibility and

Economy

Nigeria’s 2020 GDP contraction equivalent to entire 2021 budget

Ihesiulo Grace 26 August 2020 0

By Philip Clement We’re already in recession, no need for official figures, say experts Construction, transport, real manufacturing, others record negative growth The consecutive shrinking of Nigeria’s Gross Domestic Product (GDP) growth in the two quarters of 2020 is equivalent to the entire amount budgeted to be spent by the Federal Government, findings by Daily […]

Economy News

We are in debt of ₦336 bn — Fashola reveals

Ihesiulo Grace 24 August 2020 0

The Minister of Works and Housing, Mr Babatunde Fashola, says the Federal Government is still owing contractors ₦336 billion as of July 2020, Daily Times gathered. Fashola said this during an interview on Arise Television on Sunday. He said only ₦27 billion had been released by the Federal Ministry of Finance, while about ₦162 billion […]