Headlines

APC tables 12-point agenda to Nigerians on restructuring, consults 2005 political reforms conference report

Ihesiulo Grace 15 September 2017 0

The ruling All Progressives Congress (APC) Committee on True Federalism has tabled twelve issues for discussion during the public hearings on restructuring scheduled to commence on Septemeber 18, 2017 in various parts of the country. Besides, the committee said it will consult the report of the

Business Economy

Nigerian inflation slows for 7th month in August to 16.01 percent

Ihesiulo Grace 15 September 2017 0

Annual inflation in Nigeria slowed for a seventh month in August, easing to 16.01 percent, the National Bureau of Statistics (NBS) said Friday. The rate of annual inflation was 0.04 percent lower than in July. “The highest increases were recorded in clothing materials and articles of clothing, garments, passenger transport by air, motorcycles, shoes and […]

Business Economy

Tax research network launched in Nigeria

Ihesiulo Grace 13 September 2017 0

The Nigerian Tax Research Network has been launched in Abuja. Set up with funding from the Bill and Melinda Gates Foundation, the International Centre for Tax and Development (ICTD) is driving this network. Speaking at the event, Ifueko Omoigui-Okauru, former chairman of the Federal Inland Revenue Service, FIRS, said that research is very important in […]

Agriculture Economy

Olam to boost Nigeria’s food business with $150mn investment

Ihesiulo Grace 13 September 2017 0

Global food trader, Olam International Ltd. invested $150 million in animal-feed mills and poultry farms in Nigeria as it seeks to boost its agribusiness venture in Africa’s biggest food market by population. These include bird- and fish-feed mills with the capacity for 360,000 metric tons each, according to Bloomberg, located in the northern Kaduna and […]

Economy Headlines

“I am a threat to the economy….?” Atiku responds to tweet

Ihesiulo Grace 12 September 2017 0

Atiku Abubakar, a former Nigerian vice president in response to a Twitter user, who wrote “You and your likes are the biggest threat to our economy,” asked how he has only been a threat to the economy, considering he has created over 50,000 jobs for Nigerians. Atiku had cited a report that the economy was […]

Business Economy

FG, states’ public debt stock hits N19.6trn, says DMO

Ihesiulo Grace 12 September 2017 Post a comment

Nigeria’s public debt stock for both the Federal Government and the states as at June 30 stood at N19.63 trillion, a document by the Debt Management Office (DMO) says. The document obtained from the DMO website Monday, according to NAN said the domestic debt of states stood at N3 trillion, as the Federal Government spent N253.3 […]

Economy Headlines

Nigeria out of stagnation not recession, Onovo faults NBS’ report on country’s economy

Ihesiulo Grace 11 September 2017 0

Chief Martin Onovo, a former presidential candidate has faulted the National Bureau of Statistics (NBS) report concerning Nigeria’s economy out of recession. Onovo, who contested the 2015 presidential elections on the platform of the National Conscience Party, said that Nigeria was in a season of stagnation, rather than being in a recession, according to NAN’s

Energy Oil & Gas

Nigeria’s FG to end gas flaring soon, Boroh discloses

Ihesiulo Grace 8 September 2017 0

Nigeria’s federal government will soon introduce a programme to end gas flaring in the Niger Delta region, Paul Boroh, the Special Adviser to the President on Niger Delta Affairs said Friday. Boroh disclosed this during the inauguration of a water project in Gelegele-Gbene community near Benin in Ovia North East Local Government Area of Edo. […]

Banking Business

CBN deploys electronic platform for efficient processing of capital investment inflows

Ihesiulo Grace 8 September 2017 0

Central Bank of Nigeria has deployed an electronic certificate of capital importation (eCCI) platform, which it said would enhance transparency and efficient processing of foreign investment inflows into the country. In a circular signed by W.D. Gotring, its director of trade and exchange development, which it issued to all authorized dealers, including money deposit

Headlines

Nigerians soon to feel the impact of country’s economy exit from recession– NBS Chief

Ihesiulo Grace 6 September 2017 0

Yemi Kale, the Chief Executive Officer of the National Bureau of Statistics (NBS) said Wednesday that the effect of Nigeria coming out of recession will not be immediately felt by the people. The Statistician-General of the Federation made the statement in Abuja at a news conference, according to NAN. In his words, “there is a […]

Business Economy

Nigeria was faced with depression, says ex-CBN Director

Ihesiulo Grace 6 September 2017 0

Titus Okunronmu, a former Director, Budgetary Department, Central Bank of Nigeria (CBN), said on Wednesday that Nigeria’s economy had been experiencing depression rather than recession since 2015. According to NAN, Okunronmu, while responding to questions concerning the country’s economy in Ota, Ogun state, said that a recession could only last for a quarter or two,

Business Economy

Experts task FG on strengthening monetary, fiscal policies; pathways to recession exit

Ihesiulo Grace 6 September 2017 0

Financial experts Wednesday advised the Federal Government to strengthen the current monetary and fiscal policies which exited the country out of economic recession. The experts gave the advice in separate interviews with the News Agency of Nigeria (NAN) in Lagos while reacting to the second quarter report of National Bureau of Statistics (NBS) which indicated […]

Agriculture Business

Nigerians to experience high cost of food items amid army-worm outbreak, Minister says

Ihesiulo Grace 6 September 2017 Post a comment

Audu Ogbeh, the minister of agriculture and rural development has said Nigerians will experience the rise in the cost of food items in the market with the outbreak of armyworm that has affected most of the states in the country. The minister said this in a chat with journalists on the sidelines of a Capacity […]

Economy Headlines

Nigeria’s economy is improving, data from space hint

Ihesiulo Grace 30 August 2017 0

Nigeria’s struggling economy improved between April and June, according to San Francisco-based satellite data. In a report by Bloomberg, SpaceKnow’s Nigeria Night Light Index, which measures light intensity and provides an indication of electricity usage, rose 29 percent year-on-year in that period, the first time it has shown a positive reading since the final three