Economy

Acting Finance Minister of Finance Zainab Ahmed

Federal government realises N298.01 billionn VAT in Q4 2018

The sum of N298.01 billion was realised as Value Added Tax (VAT) in the fourth quarter of 2018 as against N273.50bn generated in Q3 2018 and N266.73bn in Q2 2018, data sourced from National Bureau of Statistics (NBS) revealed.
President Buhari visits the Train the Trainer Course organised by the Election Planning and Monitoring directorate of the APC Presidential Campaign Council in Abuja on 28th Jan 2019-4

Presidency outlines 10 salient points from NBS report, says economy on solid footing

The Presidency says the Fourth Quarter 2018 Gross Domestic Product results released by National Bureau of Statistics give a lot of hope as “economic Eldorado beckons’’.

Federal government urged to raise VAT to 7 percent

If the country is to reduce unemployment and stimulate economic growth, the federal government has been advised to take bold steps which includes raising the Value Added Tax (VAT).
National Bureau of Statistics NBS

NBS: FAAC disbursed N270.17 billion to federal government in January

The Federation Account Allocation Committee (FAAC), disbursed the sum of N270.17 billion to the Federal Government in January, 2019, the National Bureau of Statistics (NBS) has disclosed.
election inec nigeria

Election rescheduling’ll affect inflow of foreign investments – experts

Financial experts on Saturday said the hasty postponement of the general elections by the Independent National Electoral Commission would create uncertainty and affect inflow of foreign investments.

NBS: Inflation rate drops to 11.37 per cent in January

The National Bureau of Statistics on Friday released the Consumer Price Index which measures inflation. The index dropped to 11.37 per cent in January 2019.

Central bank: Value of money market assets outstanding hits N11.89 trillion

The Central Bank of Nigeria has said that the total value of money market assets outstanding in the fourth quarter of 2018 was N11.897trillion.
National Bureau of Statistics NBS

NBS: Nigeria’s capital importation up by 37.49% in 2018

The National Bureau of Statistics (NBS) said the total value of capital importation into Nigeria stood at 16.81 billion dollars in 2018 compared to 12.22 billion dollars capital imported in 2017.

NESG forecast GDP growth by 3.2% in 2019

The Nigerian Economic Summit Group, NESG, has said that the nation’s real Gross Domestic Product, GDP, will grow by 3.2 percent in 2019.
National Bureau of Statistics NBS

NBS: Services sector up by 1.83 percent in 2018

The National Bureau of Statistics (NBS), said the services sector of the economy measured by the Gross Domestic Product (GDP) grew by 1.83 per cent in 2018.
National Bureau of Statistics NBS

NBS: Economy attracted $16.8 billion investment inflow in 2018

The National Bureau of Statistics on Wednesday released the Capital Importation report for 2018 with the economy attracting a total investment of $16.81bn during the period.

Non-oil sector boosts GDP to 2.38 percent in Q4

Nigeria’s Gross Domestic Product (GDP) growth rate increased to 2.38 per cent (year-on- year) in the fourth quarter of 2018 (Q4, 2018), indicating a 0.55 percentage rise compared to the 1.81 per cent growth recorded in the preceding quarter, according to the National Bureau of Statistics (NBS).
National Bureau of Statistics NBS

Nigeria’s GDP rises to 2.38 percent in Q4 2018

Nigeria’s Gross Domestic Product (GDP) growth rate increased to 2.38 per cent (year-on- year) in the fourth quarter of 2018 (Q4, 2018), indicating a 0.55 percentage rise compared to the 1.81 per cent growth recorded in the preceding quarter, according to the National Bureau of Statistics (NBS).

UK posts slowest growth in six years ahead of Brexit

Britain’s economy grew at the slowest pace in six years in 2018 with near-flat output in the final quarter, data showed Monday, as Brexit uncertainty and weaker global growth bites.

Official: Due diligence delays signing AfCFTA

Nigeria has again explained it has yet to sign the African Continental Free Trade Area (AfCFTA) because it is carrying out due diligence to ensure that it would not negatively affect the local industries.

Expert: Nigeria can generate $50 trillion from security

Nigeria can surpass Western and Asian powers in security and economy as it has the capacity to generate over $50 trillion from security, Prof. Ibrahim Abubakar, a private security expert said on Tuesday.

Price of garri crashes by 37.5% in Lagos markets

The price of garri, a staple food in the country, has crashed by about 37.5 per cent in most markets in Lagos, the News Agency of Nigeria (NAN) reports.
Zainab Ahmed

Minister: Nigeria’s debt within fiscal limits

Nigeria’s borrowing is still within acceptable fiscal limits, despite the country’s growing debt level, the Minister of Finance, Zainab Ahmed, has said.

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Operations shut down temporarily at Abuja airport new terminal

Operations were temporarily shut down Saturday at the new terminal of the Nnamdi Azikiwe International Airport, Abuja when sensors erroneously triggered anti-fire powders, which disrupted passenger facilitation.

Easter: DPR sanctions 10 filling stations for selling petrol above N145 per litre

The Department of Petroleum Resources says it has sanctioned 10 filling stations caught dispensing fuel above N145 per litre government approved price in Rivers.
President Buhari receiving Report of the Technical Advisory Committee on the Implementation of the National Minimum Wage in State House on 25th Mar 2019 2

President Buhari says cycle of violence benefits nobody

President Muhammadu Buhari has expressed sadness over “the latest needless violent clashes between Jukuns and Tivs in Taraba State, and Fulani, Genjon and Bachama in Adamawa State resulting in arson, injuries and deaths”.