Opinion

The amazing potential of Nigeria’s untapped blue economy

Ihesiulo Grace 29 May 2020 0

One of the primary objectives of the Economic Recovery and Growth Plan (ERGP) launched by the federal government three years ago was aimed at diversifying the economy. With the price of oil in the global market always going up and down like a yo-yo, we do not need a prophet to tell us that the

Featured Headlines

Minister commends NOTAP for saving Nigeria N280bn

Ihesiulo Grace 26 February 2020 0

The Minister of State for Science and Technology, Mohammed Abdullahi, has commended the National Office for Technology Acquisition and Promotion (NOTAP) for saving close to N280 billion for the nation through its mandate. Speaking when he paid a facility visit to the organisation on Tuesday, Abdullahi appealed to NOTAP to strive to do more, adding […]

Featured Headlines

Nigerian economy grew by 2.55% in Q4 2019 – NBS

Ihesiulo Grace 25 February 2020 0

.This reflects an increase of 0.17%, highest rates since 2017-Dipeolu .Without reforms, economic recovery would remain sluggish-Analysts Nigeria’s economic growth rose to an annual rate of 2.55 per cent in the three months to the end of December, its highest quarterly growth since a 2016 recession, latest the figure released by the National Bureau of […]

Business Headlines

Nigeria economy may relapse to recession if…MPC warns

Ihesiulo Grace 26 September 2018 0

…Cautions FG over elections spending, insecurity, flooding …Retains MPR at 14 percent, CRR 22.5%, Liquidity Ratio at 30% The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has warned that the country may slip into recession again if the Federal Government did not take urgent steps to address the imminent danger, noting […]

News

Don’t write-off Nigeria, fmr. president Jonathan encourages citizens

Ihesiulo Grace 30 March 2018 0

Goodluck Jonathan, former Nigeria president, on Friday encouraged Nigerians not to give up on the country despite its present challenges. In an Easter message posted on his official Facebook page, Jonathan said he still expects Nigeria to overcome its challenges no matter what evil forces may do. “Easter is a time when we celebrate the […]

Opinion

The wide gates of Bill Gates and Nigeria’s ‘failed’ economy plan

Ihesiulo Grace 28 March 2018 0

Of what use is wealth that can’t wet the dry land of the bottom billions? Such wealth, but to many, is wasted wealth… Bill Gates, one of the richest few people in the world, last week in Nigeria’s capital,  Abuja, had a lot to say, where he diplomatically blew the country’s govt’s weak investments on human […]

Headlines

Reasons I criticised Nigeria gov’t- Bill Gates

Ihesiulo Grace 27 March 2018 0

Bill Gates, American billionaire, and businessman has said that his criticism of the Nigerian government’s Economic Recovery & Growth Plan was to stir leaders to wake up to their responsibility and focus on human capital development. Gates said Nigeria needs to act to save the country’s large youth population. During his visit to Nigeria, the […]

Headlines

Labour welcomes Nigeria government’s decision to stay hold on AfCFTA

Ihesiulo Grace 21 March 2018 0

Organised labour in Nigeria has hailed the decision of the Nigerian government to allow more consultations and deliberations on the controversial African Union Continental Free Trade (ACFTA) Area expected to be ratified today, Wednesday in Kigali, Rwanda. Labour also acknowledged and commended “the vigilance of all stakeholders”, namely manufacturers, NLC and business in

Headlines

Nigeria economy sustains positive growth since emergence from recession-NBS

Ihesiulo Grace 27 February 2018 0

Nigeria economy has maintained positive growth since its emergence from recession in Q2 2017, according to the data released by the country’s Bureau of statistics Tuesday. The NBS data shows that Nigeria’s gross domestic product (GDP) grew by 0.83 percent higher by 2.42 percent in 2017 after shrinking by -1.58 percent in 2016, which was its first annual […]

Business

Inside Nigeria’s first pencil and toothpick factory

Ihesiulo Grace 10 January 2018 0

In the second quarter of 2017, Akwa Ibom State governor, Udom Gabriel Emmanuel, commissioned the AKEES pencil and toothpick factory. It was going to be the first of its kind in Nigeria. In response to the news, Nigerians noted via various mediums that contrary to claims, the factory was indeed not the first in Nigeria. […]

Business

Nigeria’s economic expansion persist rapidly in December — CBN

Ihesiulo Grace 4 January 2018 0

The Central Bank of Nigeria, CBN yesterday released its Purchasing Managers Index (PMI) survey for December which indicated continuous rapid expansion of economic activities during the month. The report showed that the Manufacturing PMI and Non-Manufacturing PMI rose to the highest level in more than three years. While the Manufacturing PMI rose to 59.3 percent […]

Business News

Court to resume hearing of Nigeria govt’s $406.8m oil debt suit

Ihesiulo Grace 20 November 2017 0

A Federal High Court in Lagos will on Jan. 23, 2018, resume hearing of a $406.8 million suit instituted by the Federal Government against Shell Western Supply & Trading Ltd, over crude oil shipment. The suit numbered FHC/L/CS/336/16 was filed by Prof. Fabian Ajogwu (SAN), counsel to the Federal Government. It has as defendants: Shell […]

Business Headlines

Nigeria economy expands 1.4% in third quarter

Ihesiulo Grace 20 November 2017 0

Nigeria’s economy expanded in the third quarter 2017, as oil production output increased. The gross domestic product of Africa’s largest crude producer expanded 1.4 percent in the three months through September from a year earlier, compared with a revised 0.72 percent in the second quarter, according to the report by National Bureau of Statistics released […]

Economy News

FG Recovers $64.6m Electricity Debt From International Customers

Ihesiulo Grace 14 November 2017 0

Nigeria’s Minster of Power, Works and Housing, Babatunde Fashola announced Monday that the country’s central Government had recovered 64.6 million dollars electricity debt from its international customers. The Minster announced this at the 21st monthly power sector meeting in Asaba. Fashola, in a text of his opening remark made available to the News Agency of

Business News

Buhari’s visit to Turkey attracts 23 companies

Ihesiulo Grace 13 November 2017 0

President Muhammadu Buhari’s recent visit to Turkey is said to boost bilateral trade as 23 Turkish electrical manufacturing companies will visit Nigeria this week to meet buyers and distributors. According to top NAN, Thessa Bagu, the Managing Director of Naijalink Ltd., said this in Lagos that the visit would strengthen trade and economic relations between Nigeria […]

Business Economy

FG canvasses investors’ support for truck parks, inland dry ports

Ihesiulo Grace 10 November 2017 0

The Nigerian government has initiated a move to woo private investors to invest in the Inland Dry Ports (IDP) and the proposed Truck Transit Parks (TTP) initiated by the Nigerian Shippers’ Council (NSC). The parks and ports as proposed by NSC are designed to be built and managed by private investors. The Vice President, Yemi […]

Business Economy

Nigeria’s reserves rise $1.1bn as I&E window sees $677.7m inflow

Ihesiulo Grace 6 November 2017 0

Nigeria’s external reserves have in one month accrued $1.12 billion on the back of the rally in oil prices and re-balancing of the Federal Government debt in favour of external borrowing, as the Investors’ and Exporters’ (I&E) foreign exchange window saw an inflow of $677.7 million last week. The price of crude oil has maintained […]

Business Economy

Nigeria’s debt rises by $4.33bn in 2 yrs, hot $15.05 bn in 2017- NBS

Ihesiulo Grace 20 September 2017 0

Nigeria’s total debt rose by $4.33 billion in two years to hit $15.05 billion in 2017. This was disclosed in the foreign and domestic debt statistics of the country as at June 2017 released Wednesday by the National Bureau of Statistics (NBS) in Abuja. The apex statistical body reported that country’s domestic and foreign debts […]

Business Economy

Onyeama woos US investors, says more investment returns are abound in Nigeria

Ihesiulo Grace 19 September 2017 0

Geoffrey Onyeama, Nigeria’s minister of foreign affairs, said investors from the United States will get a higher return on investment from the country than anywhere else in the world. According to NAN’s report, the minister made this statement while speaking at the Nigeria-US Business and Investment Forum in New York alongside Okechukwu Enelamah, minister of

Business

Nigeria cocoa output bounce back in 2017/18

Ihesiulo Grace 15 September 2017 0

The president of Cocoa Association in Nigeria, said Thursday that the country should see a bumper cocoa harvest in the coming season as late rains have helped boost pod production. Sayina Riman, president of the Cocoa Association of Nigeria (CAN), expects output for the new season which starts in October to hit between 300,000 tonnes and […]