By Abayomi Odunowo In the face of a rapidly changing economic landscape, what often appears as progress can be a mirage. Nigeria’s current situation illustrates this perfectly: nominal increases in financial allocations are heralded as signs of growth, yet they mask a troubling reality. It is imperative that we understand that real economic advancement cannot […]
By Msugh Ityokura Manufacturing Africa, MA one of the United Kingdom, UK’s flagship economic development programmes for Africa Tuesday signed a strategic partnership agreement with London-based investment firm TLG Capital to strengthen and improve the eligibility of Nigerian manufacturing companies to raise capital through TLG’s Africa Growth Impact Fund II (AGIF II). In a significant […]
…over $40bn foreign reserves signals confidence in financial management – Edun By Tunde Opalana The Federal Government has unveiled a comprehensive economic plans that will ensure sustainable development. This include fiscal priorities and economic direction for the coming year. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun disclosed government’s plan at […]
The Federal Government has warned foreign nationals associated with funding banditry that they would be prosecuted for economic sabotage and for waging war against the Nigerian state. The Minister of Solid Minerals Development, Dr Dele Alake, gave the warning in a statement by his Special Assistant on Media, Segun Tomori, on Thursday in Abuja. Alake […]
Africa stands at a pivotal moment in its economic evolution, driven by an urgent need to industrialize and capitalize on its abundant resources for sustainable development. Political leaders across the continent are increasingly recognizing the importance of moving away from merely exporting raw materials and instead fostering robust local production. This strategic shift aims to […]
The hemorrhaging economic condition in Nigeria is impacting negatively on various sectors including the real estate market and its supply chains. This impact is, in more ways, defining the economy of the sector in the first quarter of 2024 as more renters groan under the weight of price increase in the real estate market forcing […]
By Motolani Oseni The Nigerian Bureau of Statistics (NBS) has revealed that Nigeria’s economic growth slowed in the second quarter of 2023, as the Gross Domestic Product (GDP) grew by 2.51 per cent year-on-year in real terms within the quarter. The statistics bureau said this in its “Nigerian Gross Domestic Product Report Q2 2023,” released […]
Stories by Godwin Anyebe There is no doubt about the fact that it is a period of renaissance for Nigeria’s economic and indeed the economic development of African region. At the time of millennium, it seem though, some form of cosmic force spark off to energise what some analysts describe as a natural desire for […]
By Joy Obakeye Some stakeholders in Nigeria’s socio-economic space have indicated that the adoption of a private sector payment infrastructure system will adequately capture the proposed 10 billion dollars Micro, Small and Medium Enterprises, MSMEs, stimulus fund promised by Peoples Democratic Party (PDP) presidential candidate, Atiku Abubakar to drive economic development when elected into office. […]
By Godwin Anyebe As the year winds down, organisations are taking a retrospective evaluation of performance in the outgoing year, benchmarked against certain critical growth indices to measure exactly what moved the needle either upward or downwards. Despite the fact that the advertising industry experienced the worst phenomenon in centuries with the advent of the […]
The minister of finance, budget and national planning, Zainab Shamsuna Ahmed has reeled out palliatives and measures put in place to cushion the economic impact of the covid-19 on Nigeria’s economy According to her, the measures put in place by the federal government is aimed at promoting local production especially in the health sector. “Our […]
Stakeholders in Bauchi have called for the review of the state’s 2020 budget to reflect the new economic realities occasioned by the National and Global impact of the coronavirus pandemic. This development was contained in a communique issued at the end of a stakeholders engagement and update meeting with Governor Bala Mohammed on Lassa and […]
Following the global economic challenges resulting from the COVID-19 pandemic and the crash in the prices of crude oil, the Ogun state Governor, Dapo Abiodun has announced a number of measures to mitigate the imminent reduction in monthly federal allocation to the state. Gov. Abiodun according to a statement from the governor’s office made this […]
Lagos – The Lagos Chamber of Commerce and Industry (LCCI) has projected a high cost of doing business in 2020. Its Director-General, Dr Muda Yusuf, made the projection in the LCCI 2019 Economic Review and Outlook For 2020 made available to newsmen on Thursday in Lagos. He attributed the projected high cost to poor infrastructure, […]
Abuja – The Buhari Media Organisation (BMO) says Nigeria has recorded steady growth in its economy due to the political will of the President Muhammadu Buhari-led administration. In a statement signed by its Chairman, Niyi Akinsiju in Abuja on Monday, BMO said the country had recorded a number of positives on the economic front. “We […]
Mr Boss Mustapha, Secretary to the Government of the Federation (SGF), says the Federal Government will support the Federal Character Commission (FCC), to achieve its mandate of ensuring equitable distribution of socio-economic goods. Mustapha stated this in a keynote address at a one-day workshop on equitable distribution of socio-economic amenities and infrastructural facilities in Nigeria, […]
Abuja – The World Bank says economic recovery in Nigeria, South Africa, and Angola (the region’s three largest economies) remained weak in 2019, a situation that is weighing on the region’s prospects. This is according to the 20th edition of African Pulse, World Bank’s twice-yearly economic update for the region released in Washington D.C. on […]
The forthcoming governorship election in Ekiti State has been described as the way pointer, as the nation look towards the 2019 General Election as it would show how things would turn out, the African Union Economic, Social and Cultural Council (AU-ECOSOCC) has said. AU-ECOSOCC, which is a group representing Civil Society Organisations (CSOs) in 55 […]
Doye Diri, member representing Yenagoa/Kolokuma/Opokuma Federal Constituency in the House of Representatives has said the National Assembly (NASS), would put pressure on the federal government to ensure that the controversial $1billion approved for it by the National Economic Council to spend from the Excess Crude Account (ECA) to fight Boko Haram insurgents in the north […]
While it is doubtless that every region in the composition of Nigeria is important, the Southwest region stands out uniquely in many ways. It is the economic cum commercial nerve center of the country. It is the intellectual hub of the nation. It is a tourist’s center. It remains a focal region by its status […]