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Economic Recovery and Growth Plan

NDPR refining capacity hits 5,000 bpd

The Niger Delta Petroleum Resources Limited (NDPR), a subsidiary of Niger Delta Exploration & Production Plc (NDEP), has increased its diesel topping refining plant from 1,000 barrels per day (bpd) to 5,000 bpd in its effort to guarantee energy sufficiency in Nigeria.
Minister of Communications and Digital Economy, Dr. Isa Ali Pantami

Minister explains reasons for digital economy drive in Nigeria

The Minister of Communications and Digital Economy, Isa Pantami, has justified the necessity, appropriateness and significance of the re-designation of the Federal Ministry of Communications as Federal Ministry of Communications and Digital Economy (FMoCDE) in October 2019 by President Muhammadu Buhari, as he recalled the modest strides of the ministry and strategy for accomplishing the digital economy policy for national development.
Minister of Communication and Digital Economy, Mallam Ali Pantami, yesterday, insisted that it is the duty of the Nigerian Postal Service (NIPOST) to collect Stamp Duty for the Federal government instead of the Federal Inland Revenue Service (FIRS), saying it is selfish and an injustice trying to deny NIPOST of collecting the duty

Minister insists NIPOST, not FIRS has responsibility to collect stamp duty for government

Minister of Communication and Digital Economy, Mallam Ali Pantami, yesterday, insisted that it is the duty of the Nigerian Postal Service (NIPOST) to collect Stamp Duty for the Federal government instead of the Federal Inland Revenue Service (FIRS), saying it is selfish and an injustice trying to deny NIPOST of collecting the duty
Timothy Olawale - Nigeria Employers’ Consultative Association (NECA)

2020: NECA advocates synergy between fiscal, monetary policies

As part of its expectations for 2020, the Nigeria Employers’ Consultative Association (NECA) has called for synergy between the fiscal and monetary policies of the Federal Government.

Central bank: 40 per cent of foreign credits in Nigeria’s economy dangerous

The Central Bank of Nigeria (CBN) has revealed that 40 per cent of the total credits available in the economy, especially in the capital and money markets are from foreign holdings.
Minister of State for Education, Chukwuemeka Nwajiuba, has tasked political parties, especially the All Progressives Congress (APC) to adopt a different approach to the conduct of party primaries to avoid a repeat of the crisis that is currently rocking the party as a result of the conduct of the 2018 party primaries ahead of the 2019 general elections.

Federal government tasks universities on ethics, frowns at sexual harassment of students

The Federal Government has admonished governing councils and managements of the nation’s universities to formulate policies and regulations that would guard against unethical academic activities, sexual harassment as well as establishing a code of ethics for staff.
The African Development Bank, AfDB, says it has approved a 70 million dollar loan for a road project in Ebonyi. The bank said on its website on Friday that it would provide $40 million, while its co-financier, the Africa Growing Together Fund (AGTF), would contribute $30 million for the project.

AfDB approves $210 million for Nigeria transmission expansion project

The Board of Directors of the African Development Bank (AfDB) Group has approved 210 million dollars financing package for the Nigeria Transmission Expansion Project (NTEP1).
Obiageli Ezekwesili

Bisi Fayemi, Oby Ezekwesili join 2,000 women for 2019 National Dialogue

First Lady of Ekiti State, Bisi Fayemi, former the Vice-President of the World Bank’s Africa division and former minister under-Olusegun Obasanjo’s administration, Obiageli Ezekwesili, Minister for Women Affairs, Hon Paulen Tallen, are among the 2,000 women expected at the National Women’s Dialogue 2019, with the theme: ‘The Nigeria We Want: Nigerian Women-A National Conversation’.
From left- Consul General of Nigeria in Atlanta, Mrs Aishatu Musa; Deputy Head of Mission, Nigerian Embassy, Washington DC, Amb. Hassan Hassan, and the President of UBTS International, Dr Frank Harper, at the event.

Federal government assures US investors of addressing their concerns

The Federal Government has assured existing and potential American investors of its commitment to addressing issues of corruption, political instability and insecurity in the country.
Clement Agba, the Minister of State, Federal Ministry of Finance, Budget And National Planning has reiterated the Federal Government’s determination to go into partnerships to create jobs as well as boost the economy.

Job creation: Minister restates federal government’s determination to go into partnerships

Clement Agba, the Minister of State, Federal Ministry of Finance, Budget And National Planning has reiterated the Federal Government’s determination to go into partnerships to create jobs as well as boost the economy.

NNPC: 14 companies bid for OML 119 redevelopment financing

The Nigerian National Petroleum Corporation (NNPC) says it has publicly opened bids from 14 companies for the financing and redevelopment of Oil Mining Lease (OML) 119.
Yutaka Kikuta

Japanese ambassador commends federal government over improved World Bank ranking

The Japanese Ambassador to Nigeria, Mr Kikuta Yutaka, has commended the Federal Government for Nigeria’s improvement in the recently released World Bank’s 2020 Doing Business Index (DBI).
The border closure has affected goods from other West African countries. Wikimedia Commons

Nigeria’s border closure has implications for Africa’s economic integration

Nigeria recently partially closed its border with Benin in an effort to stem the smuggling of rice. It then went on to close its land borders to the movement of all goods from Benin, Niger and Cameroon, effectively banning trade flows with its neighbours.
The Minister of Industry, Trade and Investment, Otunba Richard Adeniyi Adebayo, has said the Federal Government will welcome long-term agribusiness activities coming from Russia to Nigeria.

Federal government will welcome Russia’s agribusiness in Nigeria – minister

The Minister of Industry, Trade and Investment, Otunba Richard Adeniyi Adebayo, has said the Federal Government will welcome long-term agribusiness activities coming from Russia to Nigeria.
President Muhammadu Buhari Wednesday in Abuja administered oaths of office on members of the newly constituted Presidential Economic Advisory Council (PEAC), and also set an agenda of what they should accomplish in the shortest possible time. 4

Federal government fails to meet economic recovery targets – report

Macro-economic targets set out by the Federal Government in the Economic Recovery and Growth Plan have been underachieved, a report released by the Centre for Democracy and Development has said.
President Buhari at the event

World Bank ease of doing business latest ranking excites President Buhari

President Muhammadu Buhari has expressed delight with the World Bank’s 2020 Doing Business Index (DBI) which ranked Nigeria 131 out of 190 countries, up 15 places from 146th position last year.

2023 Presidency: Ex-PSC commissioner canvasses for Ndigbo

Simon Okeke, former Police Service Commissioner, has pleaded with Arewa, Afenifere and other socio-cultural groups in the country to allow South East produce President Mohammadu Buhari’s successor in 2023.

Presidency: We’re still using vehicles bought in 1999

Jalal Arabi, permanent secretary, state house, says some of the vehicles used for daily operations in the presidential villa, Abuja were purchased in 1999.

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Lagos State Governor, Mr Babajide Sanwo-Olu, on Sunday, said his government will deliver the ongoing Oshodi-Abule Egba BRT corridor project by end of May 2020.

Governor Sanwo-Olu begins redevelopment of Lagos Island

The Lagos State Government on Tuesday began moves to redevelop the Lagos Island with the taking over of the over 100-year-old Jankara Market in order to give it a facelift and total revitalization.

Nine killed as female suicide bomber attacks western Chad

Nine civilians died in Western Chad after a female suicide bomber detonated explosives in an area targeted in the past by the Boko Haram armed group, officials said on Monday.
This handout picture taken and released by the Ukrainian presidential press service on January 20, 2020 shows the President Volodymyr Zelensky (3L) during his talks with Iran’s Minister of Roads and Urban Development (not seen) in Kiev. – Ukraine insisted on Janaury 20 that Iran hand over the black box flight recorders of a Ukrainian passenger plane mistakenly shot down by Iranian forces during a spike in tensions with Washington. (Photo by HO / UKRAINIAN PRESIDENTIAL PRESS SERVICE / AFP) /

Iran confirms two missiles fired at Ukraine airliner

Iran has confirmed two missiles were fired at a Ukrainian airliner brought down this month, in a catastrophic error that killed all 176 people on board and sparked angry protests.

Angola vows to bring back Isabel dos Santos after ‘Luanda Leaks’ release

Authorities in Angola have said they will use "all possible" means to bring back Isabel dos Santos, the billionaire daughter of the country's former president, after thousands of leaked documents revealed new allegations she siphoned off hundreds of millions in public money.

Niger Delta militants attack PANDEF over refusal to negotiate with President Buhari

The Reformed Niger Delta Avengers, RNDA, has condemned the decision of the Pan Niger Delta Elders’ Forum (PANDEF) to stop all forms of negotiation with the Federal Government on behalf of the Niger Delta region.