Home Business Economy

Economy

The African Export-Import Bank (Afreximbank) says it is providing one billion dollars grant to African countries to support the implementation of the Agreement for the African Continental Free Trade Area (AfCFTA).

NESG: How AfCFTA will impact economy

The Nigerian Economic Summit Group (NESG) has conducted a study on the impact of the African Continental Free Trade Area (AfCFTA) on key macroeconomic variables.
President Muhammadu Buhari on Monday signed into law the Finance Bill 2019 (now Finance Act), which among other objectives, seeks to increase government revenue while supporting struggling small businesses in Africa’s largest economy.

Nigeria inflation rises to 11.98 per cent

Inflation in Nigeria rose to a 19-month high in December, as prices continued to rise many months after the country closed its borders with its neighbours.
China’s economy weakened to its slowest pace in three decades in 2019 as weaker domestic demand and trade tensions with the United States took their toll, official data showed Friday.

China GDP grew 6.1% in 2019, slowest in three decades

China’s economy weakened to its slowest pace in three decades in 2019 as weaker domestic demand and trade tensions with the United States took their toll, official data showed Friday.
Zainab Ahmed

Federal, states, local councils share N716.298 billion for December 2019

The Federation Accounts Allocation Committee (FAAC) has shared a total of N716.298 billion to the three tiers of government for the month of December, 2019.
President Muhammadu Buhari on Monday signed into law the Finance Bill 2019 (now Finance Act), which among other objectives, seeks to increase government revenue while supporting struggling small businesses in Africa’s largest economy.

New finance law will have ‘significant’ impact on businesses in Nigeria

President Muhammadu Buhari on Monday signed into law the Finance Bill 2019 (now Finance Act), which among other objectives, seeks to increase government revenue while supporting struggling small businesses in Africa’s largest economy.

World Bank predicts 2.1 percent growth for Nigeria’s economy

Nigeria’s economy will grow by 2.1 per cent for three consecutive years covering 2020, 2021 and 2023, the World Bank has predicted.
An economist, Prof. Sheriffdeen Tella, on Friday urged the Central Bank of Nigeria (CBN) to pursue policies geared toward credit expansion for private sector in 2020.

2020: Economist tasks central bank on credit expansion policies for private sector

An economist, Prof. Sheriffdeen Tella, on Friday urged the Central Bank of Nigeria (CBN) to pursue policies geared toward credit expansion for private sector in 2020.
The Senate on Wednesday confirmed the nomination of Muhammad Nami as the Executive Chairman, Federal Inland Revenue Services and 13 others as board members.

FIRS announces new tax clearance certificate regime

The Federal Inland Revenue Service (FIRS) has announced a new Tax Clearance Certificate (TCC) regime which will make it easier for taxpayers to obtain their clearance certificate.

Investors stake N15.5 billion on equities ahead of Santa Claus rally

The momentum of activities at the Nigerian equities market has increased as investors opened up more orders in early positioning for the often-expected Santa Claus rally. Investors staked N15.5 billion on 1.38 billion ordinary shares in 14,528 deals last week, 32.3 per cent increase on total turnover volume of 1.04 billion ordinary shares valued at N14.63 billion in 14,974 deals traded in the previous week.

Federal government trains, equips graduates on skill acquisition

The federal government has trained another batch of 70 graduate youths in poultry production, processing and marketing in Oyo north senatorial district to enhance production skills and engage more youths in poultry farming. Apart from the training, the beneficiaries were also given starter parks; 100 birds, cages, 10 bags of feeds and other materials including cash worth over N200, 000, to assist them in starting and improving their businesses.

November inflation at 11.85 percent leaps to highest in 18 months

Nigeria’s consumer price index, which measures inflation, recorded the highest level in November since July 2018 when it rose to 11.85 percent from 11.61 percent in October 2019, the nation’s statistical agency, the National Bureau of Statistics (NBS), said on Tuesday.
A fire incident occurred at the headquarters of the Federal Inland Revenue Service (FIRS) in Abuja on Monday, officials said.

FIRS begins nationwide crackdown on tax defaulters

In what may be termed an aggressive move to swell government’s revenue, the Federal Inland Revenue Service (FIRS) says it will begin a nationwide tax enforcement exercise on recalcitrant tax evaders on Wednesday, December 18 (today).
National Bureau of Statistics NBS

NBS: Inflation increased to 11.85 percent in November 2019

The National Bureau of Statistics said inflation increased to 11.85 per cent year on year in November 2019.
Traders in Aroso Market in Mile 2 area of Lagos State have lamented the crazy bills that the Ikeja Electric has been giving the market, saying the setback experi­enced by the development since June 2019 was hav­ing adverse effect on their economy.

Nigeria’s inflation hits 11.85 percent

Data made available by the National Bureau of Statistics (NBS) has shown that the consumer price index that measures inflation increased to 11.85% in November.

Experts: Economic empowerment key to driving financial inclusion

Experts have posited that the path to sustainable inclusive growth is the key to driving financial inclusion.

Borrowing $22.7 billion will create more hardship for Nigerians – analyst

A Financial analyst and the chairman board of trustees of Chartered institute of Development and Social Studies, Mr Shae Bebeyi, has called on the federal government to shelve the idea of borrowing the proposed $22.7 billion saying it will at the long run create more hardships for Nigerians.
Debt Management Office (DMO)

DMO clarifies Nigeria’s external debt

The Debt Management Office (DMO) says the public debt stock of the country is a cumulative figure of borrowings by successive governments over many years.

Central bank expects 2.38% GDP growth by Q4

The Central Bank of Nigeria (CBN) expects to achieve 2.38 per cent Gross Domestic Product (GDP) growth rate in the fourth quarter of this year.

Recent Stories

Supreme Court of Nigeria

Supreme Court upholds Governors Ortom, Fintiri’s election

The Supreme Court has on Tuesday upheld the election of governor Samuel Ortom of Benue State and his Adamawa State counterpart, Ahmadu Umar Fintiri.
Imo State House Of Assembly

Imo minority leader resigns, defects from APGA to APC

Shortly after the deputy speaker of Imo State House of Assembly, Okey Onyekanma, announced his resignation, the minority leader, Ekene Nnodimele, has also resigned.
The Federal Government has nominated Prof. Adebambo Adewopo, a foremost professor of Intellectual Property to lead the World Intellectual Property Organisation (WIPO).

Federal government nominates Adebambo Adewopo to lead WIPO

The Federal Government has nominated Prof. Adebambo Adewopo, a foremost professor of Intellectual Property to lead the World Intellectual Property Organisation (WIPO).

Police recover decomposing body of kidnapped businessman

The decomposing body of a businessman, Chief Ignatius Odunukwe, who was kidnapped two months ago by a robbery gang who posed as estate developers, has been recovered in a bush in an undisclosed area of Lagos, by policemen attached to the Zone 2, Onikan, Lagos.
Javier “Chicharito” Hernández will be announced as a member of the Galaxy on Tuesday.(Jon Shard)

Chicarito confirms move to LA Galaxy

Galaxy have yet to make an official announcement but former Manchester United and West Ham forward ‘Chicarito’ told the newspaper the time was right from him to swap Sevilla for Major League Soccer.