News

WEF 2025: Nigeria, global leaders target $29trn African economy by 2050

DailyTimesNGR DailyTimesNGR 22 January 2025 0

*As VP Shettima reaffirms Nigeria’s resolve to champion AfCFTA Vice President Kashim Shettima has joined other world leaders to push for the full implementation of the African Continental Free Trade Area (AfCFTA) with a target to boost Africa’s economy to $29 trillion by 2050. He

Headlines

FG to transform Nigeria into $1trn economy by 2030 – VP

DailyTimesNGR DailyTimesNGR 4 July 2024 0

The Federal Government has unveiled a new financial inclusion policy aimed at transforming Nigeria into a one trillion dollar economy by 2030. According to the Presidency, the project is designed to combat poverty and catalyse sustainable economic growth from the ground up. Vice-President, Kashim Shettima, who unveiled the policy on Wednesday in Abuja, said the […]

Business

Report lists recipes for ailing economy in 2024

DailyTimesNGR DailyTimesNGR 26 January 2024 0

BY MOTOLANI OSENI PwC Nigeria has listed seven key trends that will shape the nation’s economic trajectory in 2024. This was contained in PwC latest Nigeria Economic Outlook report. The report projected a marginal decline in inflation and 3.1 per cent rise in GDP. It stated that achieving sustainable growth in 2024 would require balancing […]

Business

The global economy is not out of the wood

DailyTimesNGR DailyTimesNGR 8 January 2024 0

By Godwin Anyebe The global economy was full of surprises in 2023. Despite the sharp rise in interest rates, the United States successfully avoided a recession, and major emerging markets did not spiral into a debt crisis. Even Japan’s geriatric economy exhibited stunning vitality. By contrast, the European Union fell behind, as its German growth […]

Business

PMP certified PMs earn 60% more than their counterparts – PMI Survey

DailyTimesNGR DailyTimesNGR 21 November 2023 0

By Godwin Anyebe Nigeria, Africa’s largest economy, is an attractive destination for professionals in various fields. As Nigeria continues to develop, businesses and organizations across all sectors are increasingly recognizing the importance of effective project management to deliver results and drive growth. This growing awareness against the backdrop of skills scarcity

News

Re-engineering Nigeria’s ailing economy through technocrats and Uzoka-Anite’s nomination

Ihesiulo Grace 2 August 2023 0

As Africa’s largest economy by GDP, Nigeria has for so long been faced with challenges of achieving sustainable economic growth and efficient public sector management for reasons that are very obvious, chief of which is the issue of lack of committed technocrats and administrators to manage specific sectors of the economy. This is aside the […]

Business

Nigeria’s economy lifted by N3.9trn through port concession

Ihesiulo Grace 27 March 2023 0

By Motolani Oseni Not less than a whopping N3.9trillion ($8.5bn) has been injected into the Nigeria’s economy from cargo importers in the last 17 years through stoppage of long vessels waiting time at the seaports. It’s worthy of note that before port concessioning exercise embarked upon by the administration of Ex- president, Olusegun Obasanjo in […]

Headlines

How benchmark interest rate hike will affect businesses, Nigeria’s economy

Ihesiulo Grace 23 March 2023 0

MPC is still concerned about rising inflation against its primary mandate-Prof Uwaleke Increase of the MPR means additional burden on business- Muda Yusuf CBN holds banks’ N14trn in cash reserve BY MOTOLANI OSENI Following the hike of the benchmark monetary policy lending rate by 50 basis points to 18 per cent by the Monetary Policy […]

Business

How telecoms industry contributes $70bn to Nigeria’s economy

Ihesiulo Grace 25 October 2022 0

Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, has said the technology-driven telecommunications industry has contributed $70 billion to Nigeria’s economy. He made this disclosure in his keynote speech at a Cyberchain event in Abuja while speaking on the topic: “Using Technology to grow Nigeria’s GDP”. Danbatta said that the

News

NESG harps on Need to Embrace and support the Digital Economy following Twitter Suspension

Ihesiulo Grace 8 June 2021 0

As in other economies worldwide, the COVID-19 pandemic has had a tremendous impact on the Nigerian economy. In 2020, Nigeria slipped into its second recession in five years, with a GDP contraction of 3.6% in the third quarter of 2020. Unemployment rate rose to 33.3% in the fourth quarter of 2020, about 8.6 million Nigerians […]

News

Chinese economy maintains stable growth in April

Ihesiulo Grace 20 May 2021 0

China’s national economy maintained momentum for stable recovery in the past April, with the demand for production continuing to rise, employment and commodity price being stabilized, and new growth drivers being fostered. According to statistics released by the National Bureau of Statistics (NBS) on May 17, the value added of high-tech manufacturing grew 12.7

News

‘Why Nigeria’s economy can’t afford another lockdown’

Ihesiulo Grace 21 December 2020 0

Despite the recent surge in COVID-19 cases in the country, industry experts have said due to the current condition of Nigeria’s economy, another lockdown should not be conceived by the federal and state governments. Experts who spoke with The Daily Times submitted that Nigeria economy will worsen if total lockdown is initiated, rather the federal […]

Opinion

Opinion: Creating a viable gold economy

Ihesiulo Grace 9 November 2020 0

By Ehi Braimah (Opinion) On July 16 this year, President Muhammadu Buhari launched the Presidential Artisanal Gold Mining Development Initiative (PAGMI). On that occasion, the president received the first batch of artisanally-mined gold bar weighing 12.5 kg, and announced that we lost close to $3 billion to gold smuggling between 2012 and 2018 which works […]

News

Sanusi urges FG to take economic diversification more seriously

Ihesiulo Grace 22 September 2020 0

Dethroned Emir of Kano, Mohammed Sanusi (II), says Nigeria has to take economic diversification more seriously in order to experience growth and development. READ ALSO: Muhammadu Sanusi II partners Canada’s 1MT on access to quality education for women, girls The former CBN governor who was the guest speaker on the second day of the Kaduna […]

News

Our interventions geared towards saving economy, CBN replies NESG

Ihesiulo Grace 9 September 2020 0

By Philip Clement The Central Bank of Nigeria (CBN) says it’s interventions was geared towards ensuring that the Nigerian economy is kept afloat amidst the coronavirus pandemic which has slowed every sector of the global and local economy. READ ALSO: ‘How Naira strengthens against dollar amid CBN interventions’ The apex bank in a statement issued […]

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 […]

Business News

Economy in Nigeria is facing negative development — NBS

Ihesiulo Grace 24 August 2020 0

The growth rate of Nigeria’s Gross Domestic Product (GDP) decreased by 6.10% in the second quarter of 2020, the National Statistics Bureau (NBS) announced on Monday. Data from the Nigerian Gross Domestic Product Report for Q2 2020 showed the fall in the quarter was due to a contraction in domestic and foreign economic activity from […]

Business News

CBN’s exchange rates unification alarms economists, manufacturers

Ihesiulo Grace 12 August 2020 0

By Motolani Oseni, Joy Obakeye and Philip Clement Economists, manufacturers and stakeholders in the financial sector have raised concerns over the likely economic implications of the adjustment of the exchange rate by the Central Bank of Nigeria (CBN). The CBN’s foreign exchange rate was adjusted from the pegged ₦361 to the dollar rate to ₦380, […]

Business News

Manufacturers yet to access CBN’s ₦1trn intervention loan

Ihesiulo Grace 10 August 2020 0

In March this year, the Central Bank of Nigeria (CBN) announced plans to boost local manufacturing and import substitution by injecting ₦1 trillion intervention in critical sectors of the economy. But four months after the announcement, manufacturers have said they are yet to get the funds to speed up business activities amid economic uncertainty. In […]

Covid-19 Economy

Details of governors’ meeting over opening of economy revealed

Ihesiulo Grace 9 July 2020 0

Due to the novel coronavirus pandemic, Nigeri Governors meet in other to discuss various ways to rejuvenate the Economy. Members of the Nigeria Governors’ Forum (NGF) met on Wednesday to discuss the impact of the coronavirus (COVID-19) pandemic on Nigerians and the economy. At the meeting which held virtually and was presided by the NGF […]