Economy Top Stories

Nigerian Economic Summit Opens In Abuja

Ihesiulo Grace 10 October 2016 0

The 22nd edition of the Nigerian Economic Summit Group (NESG) meeting has opened in Abuja, with participants looking to come up with strategies that will spur economic growth through heightened patronage of made in Nigeria goods and services. The theme for this year’s summit is ‘Made In

Economy News Top Stories

IMF calls for increased structural adjustment in Nigeria.

Ihesiulo Grace 7 October 2016 0

International Monetary Fund, IMF, yesterday called on the federal government to make additional structural adjustment and tighter monetary policy so as to address macroeconomic imbalances in the country. Director of the IMF’s African Department, Mr. Abebe Selassie, made this call during a press conference on the African region at the ongoing 2016 annual IMF meeting […]

Analysis Business Economy

Bankole calls for stronger trade relations between Nigeria, Britain.

Ihesiulo Grace 6 October 2016 0

Former Speaker of the House of Representatives, Hon. Dimeji Bankole, has called on Nigeria and Britain to discuss modalities for strengthening trade relations between the two countries. Bankole, who was earlier announced as the new voluntary Honorary Vice President of Africa House and the Africa for Growth Initiative, made this call recently at the United […]

Business Economy Money Top Stories

Emmanuel Kachikwu, minister of state for petroleum resources, says Nigeria is expecting a loan facility of close to $4 billion from China.

Ihesiulo Grace 6 October 2016 0

Speaking with state house correspondents after Wednesday’s meeting of the federal executive council, Kachikwu said the loan, which will be used to bolster infrastructure in the oil industry, was one of the results of the July road show in China, where Nigeria signed a $75.6bn Memorandum of Understanding in investments in the oil sector. He also […]

Business Economy Top Stories

Buhari’s rigid stance on devaluation sent wrong signals to investors – Utomi.

Ihesiulo Grace 5 October 2016 0

An economist and policy analyst, Professor Pat Utomi, has said that President Muhammadu Buhari’s statements that he would not agree to devaluation of the naira sent wrong signal to would be investors. Speaking at the Third Awomolo & Associates’ Annual Colloquium held in Abuja on on a theme, ‘Global Economy Beyond Oil: Challenges and Solutions; […]

Economy Top Stories

The International Monetary Fund has predicted that the Nigerian economy will grow by 0.6% in 2017

Ihesiulo Grace 5 October 2016 0

The International Monetary Fund has predicted that the Nigerian economy will grow by 0.6% in 2017, effectively lifting the country out of an officially declared recession. In the IMF’s World Economic Outlook report released on Tuesday, Nigeria’s real Gross Domestic Product is expected to increase marginally by 0.6% with Consumer Prices rising by 17.1%. Nigeria’s […]

Economy News Top Stories

Ex-Jonathan minister declares mission to help Buhari save economy:Akinwunmi Adeshina

Ihesiulo Grace 5 October 2016 0

Ex-Jonathan minister declares mission to help Buhari save economy: – Akinwunmi Adeshina, former agriculture minister under Goodluck Jonathan is determined to save Nigeria’s economy from the current recession – The president of the AfDB says that ‘Nigeria is too big to fail’ and the bank is ready to render all the help it can to […]

Business Economy Money Top Stories

JUST IN: Naira stands firm against dollar.

Ihesiulo Grace 5 October 2016 0

Naira stays firm against dollar: The Nigerian Naira on Wednesday, October 5, has remained at N476/$1 in the black market as it was yesterday, October 4. This would leave Naira’s black market value unchanged since it dropped 1 point from N475 to trade at N476 by midday yesterday According to traders, the dollar liquidity remains […]

Economy Money Top Stories

FG introduces N25bn loan scheme for transport companies.

Ihesiulo Grace 5 October 2016 0

The Federal Government has set up N25 billion revolving loan scheme for transport companies in the country to access funds for purchase of mass transit vehicles. The Minister of Industry, Trade and Investment, Mr Okechukwu Enelamah, disclosed this in Abuja on Tuesday at the opening of a two-day national workshop for chief executives of mass […]

Economy Technology Telecoms

Globacom rolls out mobile 4G/LTE network across nine Nigeria mega cities

Ihesiulo Grace 5 October 2016 0

Globacom has rolled out Nigeria’s first commercial world-class nationwide mobile Fourth Generation Long Term Evolution (4G LTE) network across the six geo-political zones simultaneously. This follows a successful multi-dimensional test-run of the advanced network consistent with its numerous pioneering roles in Nigeria’s telecommunication industry. With this development,

Economy Technology

Outsourcing adds $300m to Nigeria’s economy yearly, says iSON BPO.

Ihesiulo Grace 5 October 2016 0

CONTRARY to perceptions in different quarters that outsourcing takes away jobs and throws many people back into the labour market, there are revelations that, instead, it creates job opportunities as much as it adds up to $300 million to the Nigerian economy yearly. The revelation was made by Chief Marketing Officer of iSON BPO, Mrs […]

Business Economy Money

Recession: European Union advises FG to devalue naira

Ihesiulo Grace 4 October 2016 0

European Union (EU) official Fillippo Amato has advised the Federal Government to devalue the Naira as part of measures to tackle the economic recession. Amato, Counsellor, Head of Trade and Economics Section of EU, made this known in an interview with the News Agency of Nigeria (NAN) on Monday The EU official said that recession […]

Economy Opinion Politics

“I warned You”- senator shehu sani

Ihesiulo Grace 3 October 2016 0

– Senator Shehu Sani says bad leadership over the years has culminated in the squandering over $3trillion oil monies within the last 56 years by successive governments – Recommends that the present administration enlarge the scope of its anti-corruption war beyond the Goodluck Jonathan’s administration – Says money recovered from looters will help in not […]

Economy News

NCC official attacked in onitsha for dismantling #20m illegal cable

Ihesiulo Grace 30 September 2016 0

Officials of the Nigerian Copyrights Commission, NCC, yesterday escaped unhurt in the commercial city of Onitsha, Anambra state, after raiding offices of those they identified as pirates who supply illegal television cables, dismantling all their installations. The attackers, numbering about 20, suspected to be the pirates whose installations were dismantled by the NCC

Economy

Just In: Naira(#) gather momentum against Dollar ($)

Ihesiulo Grace 30 September 2016 0

The Naira on Friday, September 30, crashed to N490/$1 but appreciated quickly to trade at N475 against the dollar at the parallel market. The arrangement, introduced by the CBN August last year, to facilitate the transfer of money outside the country for payment of students’ school fees, has faced serious hiccups with acute shortage of […]

Business Economy

Economy: Buhari is looking for Help

Ihesiulo Grace 30 September 2016 0

President Muhammadu Buhari on Thursday said he would be reaching out to captains of industry from across the country in the coming months to assist him in implementing his administration’s agenda for the economy. Buhari said this in a keynote address he delivered at the opening of the 44th Annual General Meeting of the Manufacturers […]

Business Economy

Good News For The North:$15m sorghum mill facility will be install At-

Ihesiulo Grace 30 September 2016 0

Northern Nigeria Flour Mills (NNFM) has commenced the installation of a sorghum milling facility worth $15 million to produce flour from locally grown sorghum for inclusion into wheat flour products. Besides, Flourmills of Nigeria Plc (FMN) has disclosed plans to convert NNFM Kano to a subsidiary. The milling facility, according to the Chairman of the […]

Business Economy

Two Market Operators ban for life by Sec-why?

Ihesiulo Grace 30 September 2016 0

The Securities and Exchange Commission (SEC) has handed over life bans to Mr. Taofik Lawal and Mrs. Iyabode Lawal from operating in the Nigeria capital market for mismanagement of stocks and unauthorised sale of shares. In a statement obtained from SEC’s website, the Commission noted that in the exercise of its powers under Section 13 […]

Business Economy

Five hundred naira – One USD is feasible

Ihesiulo Grace 30 September 2016 0

Nigeria’s foreign exchange market was tension-soaked yesterday, as the Naira raced towards N500/USD1. It closed at N490/ USD1 in the parallel market, with dealers expecting further rise today to hit the dreaded N500 mark. Surprisingly, the Naira appreciated significantly to N305/ USD at the official interbank market same day, although dealers said foreign exchange was […]

Business Economy

Nigeria lost N61trn to non-passage of PIB – NEITI.

Ihesiulo Grace 29 September 2016 0

THE Nigerian Extractive Industries Transparency Initiative, yesterday, called on President Muhammadu Buhari to take urgent steps to halt the unending delay in the passage of the Petroleum Industry Bill, PIB, stating that the country has lost $200 billion, about N61.1 trillion, using current official exchange rate, due to the failure to pass an enabling law […]