Economy

NBS: Prices of selected foodstuff increased in October

The National Bureau of Statistics (NBS) says the average price of some selected food items in the country increased in October.

NBS: Inflation rate drops to 11.26% in October

The National Bureau of Statistics on Wednesday released the Consumer Price Index Report which measures inflation with inflation rate dropping from 11.28 per cent in September to 11.26 per cent in October.
McKinsey & Company

Report: Africa expected to be world’s next big growth market

Africa will become the world’s next big growth market, akin to the Asian boom, McKinsey, a management consulting firm said on Tuesday.

African Industrialisation Day: Economists proffer ways to economic growth

As Nigeria joins the rest of Africa to celebrate the African Industralisation Day, some economists said embracing technology, promoting local content and industralisation can foster the growth of the country’s economy.

In Enugu, price of rice remains stable

A market survey conducted by NAN on Saturday revealed that prices of both local and foreign rice had neither increased nor reduced when compared to what their prices were some months ago.

Federal government urged to review direction of debts to stimulate economic growth

Some economists on Friday called on the Federal Government to review the direction of the country’s debts, in order to spur productivity and economic growth.

Central bank reschedules monetary policy committee meeting

The Central Bank of Nigeria (CBN) on Saturday rescheduled its Monetary Policy Committee (MPC) meeting for November.

Emmanuel Jime: NEPZA generates $80 billion

Managing Director, Nigeria Export Processing Zones Authority (NEPZA) Mr Emmanuel Jime, has said that the organization attracted over $80 billion into the economy since inception and contributed to over 60 percent of the entire foreign direct investment that Nigeria attracts.
Traders at Ladipo Market in Lagos have appealed to Gov. Akinwunmi Ambode to construct pedestrian bridge at Toyota Bus Stop to stop people from being knocked down while crossing Oshodi-Apapa Expressway.

Experts advocate industry-academia collaboration to ensure robust economy

Some experts on Thursday advocated collaboration between the academia and the industry as a way of ensuring a robust national economy and reducing unemployment in Nigeria.

Yemi Kale: Funds not released for NBS to complete unemployment report

The Statistician-General of the Federation, Dr. Yemi Kale, has disclosed that the federal government has not released money for the National Bureau of Statistics (NBS) to complete the unemployment report.

Economist tasks federal government on transparency in revenue generation

An economist, Prof. Ndubuisi Nwokoma, has called on the Federal Government to ensure transparency in revenue generation toward boosting revenue and reducing borrowings.
Zainab Ahmed

Zainab Ahmed: How AfDB helped Nigeria out of recession

Zainab Ahmed, minister of finance, says the African Development Bank (AfDB) was very instrumental to Nigeria’s exit from its worst recession in decades.

IMF warns Nigeria on rising debt service

The International Monetary Fund (IMF) has cautioned the Federal Government to be mindful of the country’s rising debt service to revenue ratio and take steps to mitigate the situation.

Godwin Emefiele berates banks for not stimulating economy

The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said the apex bank is unhappy with deposit money banks in the country as they would rather invest in Treasury Bills than perform their basic role which is to stimulate the economy.

IMF: Nigeria to grow by 1.9% due to fewer disruptions in oil production

The International Monetary Fund (IMF), says Nigeria is expected to grow by 1.9 per cent in 2018, up from 0.8 per cent in 2017, mostly owing to fewer disruptions in oil production.

South Africa worried MTN Nigeria’s $10 billion fine may threaten country’s financial stability

The billions of dollars in fines owed by South African companies MTN and Standard Bank to Nigerian regulators could increase the risk to South Africa’s financial system, its central bank said on Wednesday.
Acting Finance Minister of Finance Zainab Ahmed

FG assures ECOWAS of fiscal policies to protect emerging industries, encourage investments

The Minister of Finance, Zainab Ahmed, says the Federal Government will continue to deploy fiscal policies that will protect its industries and also encourage investments in critical sectors of the economy.

CBN: Foreign investment falls by $500 million in 2018 Q1

Global banking giants, HSBC Bank and UBS Group, have closed their offices in Nigeria, the Central Bank of Nigeria (CBN) said yesterday, while also noting that foreign investment had fallen sharply from a year ago.

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Ghanaian undercover journalist shot dead in Accra

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President Buhari condoles with Kenya’s Uhuru Kenyatta over terror attack

As the casualty in the Kenya’s terror attack hits 21, President Muhammadu Buhari has commiserated with the government and people of Kenya on the attack on a hotel and office complex in Nairobi.
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Atiku Abubakar: I was personally involved in crafting ideas in my document

The presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, has revealed that he was personally involved and participated in crafting the ideas in the working document he released tagged “The Atiku Plan”, which contains his ideas on how to get Nigeria working again.

Senator Ekweremadu: Thieves stole money in federal lawmaker’s car

The Deputy Senate President, Ike Ekweremadu, on Thursday, shocked his colleagues when he revealed how some thieves broke into the luxury car of a senator and stole huge sums of money.

Board says working to make UNILAG sports hub

As the University of Lagos (UNILAG) prepares to host the 26th Nigerian Universities Games Association (NUGA) Games, its Sports Management Board says the institution will soon be the country’s sports hub.