Home Topics Economics


Speaking at the inauguration of a 969-metre `Rebisi’ dual carriage flyover in Port Harcourt, on Saturday, Minister of Works and Housing, by Mr Babatunde Fashola, who made the pronouncement also said that the Federal Government “is not in competition with any state’’ of the federation over project implementation.

Minister: Why Nigerian government is borrowing to expand infrastructure

The Minister of Works and Housing, Babatunde Fashola, has defended the Federal Government’s resort to loans to expand infrastructure in the country.
The Nigeria Police Force says its investigation shows that Boko Haram, Ansaru and other terror groups are getting support from some Nigerians.

Lagos election: Police on trail of APC council chairmanship aspirant over fake certificate

Force Criminal Investigation Department (FCID) is currently trailing a chieftain of All Progressives Congress (APC), Alhaja Kafayat Layeni, for allegedly presenting a fake West African Examination Council (WAEC) certificate at the just concluded party’s local government chairmanship primaries in Lagos.

Experts: Rising poverty will worsen Nigeria’s economic instability, insecurity

Economic experts have warned that the rising poverty level in Nigeria would have more adverse impacts on the economy and further worsen the security challenges in the country.

John Odigie-Oyegun: Buhari, APC must address separatist agitations, not use of military

Former National Chairman of the All Progressives Congress (APC), Chief John Odigie-Oyegun, has warned that President Muhammadu Buhari and the ruling party must address the spate of separatist agitations in the country through democratic means instead of deployment of military as solutions.
FILE PHOTO - A person sits in a toy car with children at a shopping mall in Shanghai, China June 1, 2021. REUTERS-Aly Song

China’s new three-child policy draws scepticism, cost questions

China’s decision to allow families to have up to three children was met with scepticism on Tuesday, with doubts expressed on social media whether it would make much difference, and calls for details on what promised “supportive measures” will include.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

CBN: Nigeria’s economy challenged by stagflation

Despite the improved gross domestic product, GDP, report released by the National Bureau of Statistics, NBS, for the first quarter 2021, Q1’21, the governor, Central Bank of Nigeria, CBN, Godwin Emefiele, has said Nigeria’s economy is in stagflation, describing the GDP growth numbers as weak.
In a demonstration to tackle the menace of ghost workers that has continue to drain the coffers of government, Bauchi State Governor, Sen Bala Abdulkadir Mohammed will hold a public parley with all the stakeholders involved in the payment of workers salaries in the state.

Bauchi governor faults NNPC zero remittance to FAAC

Bauchi State Governor, Senator Bala Mohammed, yesterday warned that Nigeria will be in chaos and financial hardship if the NNPC does not rethink its decision to make zero remittance to the Federation Account in April because of the need to defray the cost of petrol subsidy.
Chanchangi Airlines

Chanchangi Airline plans return, gets licence

Chanchangi, one of the popular airlines in Nigeria, which was rested few years ago, is planning to return to the skies.
The Senate President, Ahmad Lawan, has said that for appreciable development to take place in the country, more women must be regarded and enlisted to take up more spaces in governance.

Senate mourns second Republic minister Bode Olowoporoku

The Senate, on Wednesday, mourned the demise of Senator Bode Olowoporoku when it held a minute silence to honour the deceased who died at his residence on March 24, 2021, after a brief illness at the age of 76.
The committee is chaired by Prof. Akpan H. Ekpo, a former Director General of the West African Institute for Financial & Economic Management (WAIFEM), with Prof. Emmanuel Onwioduokit, HOD of Economics at the University of Uyo as Secretary.

Experts: Inflation rate may rise beyond control

With food inflation at over 23 per cent, analysts have raised concerns on the spate of the rising inflation as they envisaged a further rise in prices in the second quarter on poor weather conditions and insecurities in the country.
Governor Godwin Obaseki of Edo state has charged governments at all levels to prioritise agriculture and adequately harness the untapped potentials of the sector to fast-track economic growth and development.

PDP governors tackle APC colleagues over attack on Godwin Obaseki

Peoples Democratic Party (PDP) governors have defended their colleague, Governor Godwin Obaseki of Edo State, over his comment that the federal government printed N60 billion to top up the March Federation Allocation, saying that the governor merely offered a piece of informed advice.
FILE PHOTO - Cuba's President Raul Castro attends to an ALBA alliance summit in Caracas March 17, 2015. REUTERS-Carlos Garcia Rawlins-File Photo

Cuba’s Raul Castro leaves the political stage, his legacy yet to be written

Raul Castro, who is retiring from high public office, for most of his life toiled in the shadow of his older brother, Fidel Castro. Yet he also played a key role in Cuba’s 1959 leftist revolution and the preservation of Cuban socialism.
Chanchangi Airlines

Chanchangi braces up to resume flight operations

The Director General of the Nigerian Civil Aviation Authority (NCAA), Capt Musa Nuhu, who disclosed the plan Friday said the Kaduna based airline is preparing a comeback.
The Judicial Commission of Inquiry set up by Governor Godwin Obaseki to investigate the construction of the Edo Specialist Hospital and supply of equipment has indicted former governor, Adams Oshiomhole.

PDP governors warn federal government, APC governors to leave Godwin Obaseki alone

Governors elected on the platform of the Peoples Democratic Party, PDP, have risen in defence of Edo state governor, Godwin Obaseki, following the attack on him by governors of the ruling All Progressives Congress, APC, over his claims that the federal government resorted to printing of currency to meet its obligation in the month of March, this year.
Governor Godwin Obaseki of Edo state has charged governments at all levels to prioritise agriculture and adequately harness the untapped potentials of the sector to fast-track economic growth and development.

N60 billion mint: Governor Obaseki’s revelation a wakeup call – PDP chair

Dr Anthony Aziegbemi, an Economist and Edo chapter Chairman of the Peoples Democratic Party (PDP), has hailed the courage of Gov. Godwin Obaseki to mention the printing of N60 billion by the federal government to augment revenue allocation.
Aftermath of wanton destruction of lives and properties during #EndSARS protests, Speaker of the House of Representatives, Femi Gbajabiamila, has revealed that Lagos State required a minimum of N1 trillion to reconstruct the wilful extensive damage of properties across the metropolis.

House speaker: Nollywood contributes 2.3 % to Nigeria’s GDP

The Speaker of House of Representatives, Femi Gbajabiamila, has said the film industry contributes 2.3 per cent to Nigeria’s Gross Domestic Product (GDP).

Apple Music pays one penny per stream

Apple Music’s payment rate for artists and labels is fundamentally a penny per stream, according to a letter from the company posted on its artist dashboard and first reported by the Wall Street Journal. That payment rate is higher than Spotify, which has a confusing variable rate scheme that basically tops out at a half-penny per stream.
Over 9000 candidates are jostling for 4000 admission slots in Yusuf Maitama Sule University Kano (YUMSUK) for the 2020-2021 academic session.

NUC approves Kano university’s postgraduate school

The National Universities Commission (NUC) has approved the establishment of a Postgraduate School and the commencement of 34 postgraduate programmes in Yusuf Maitama Sule University, Kano.
The All Progressives Congress has named the Governor of Kogi State, Yahaya Bello as chairman of its Ondo State Governorship Primary Election Committee.

Kogi constitutes 36-member economic advisory council

Kogi state government has constituted a 36-member Economic Advisory Council (EAC) to provide evidence-driven decision making and rigorous evaluation of the economy.
A man is silhouetted against the logo of the World Bank at the main venue for the International Monetary Fund (IMF) and World Bank annual meeting in Tokyo. REUTERS-Kim Kyung-Hoon

IMF, World Bank advocate flexible fiscal support, debt relief

Against the backdrop of a pandemic impacted global and national economies, the International Monetary Fund (IMF) and World Bank have urged fiscal authorities to execute flexible and supportive fiscal policies to support economic recovery and cushion the long-term impact of the pandemic.
Olu of Warri, Ogiame Ikenwoli, has enjoined the federaral government to complete the Koko-Oghoye road,Warri north local government area, adding that it should also revisit the gas industrial park-EPZ project in Ogidigben in the state.

Itsekiri nation unveils new Olu designate, announces passage of Ikenwoli

Itsekiri nation has formerly announced the passage of its monarch His Royal Majesty, Ogiame Ikenwoli at Ode Itsekiri, its ancestral home in Warri South local government area, Delta State.

First Bank reinforces roles in women empowerment, convenes annual event

The 2021 event is themed ‘The Art of Negotiation’ and convened to provide women with insights on the secrets of wealth management, investment and savings. It is scheduled to be held on Wednesday March 31, 2021. Participants are required to register via the link bit .ly/firstbankwebinar

Recent Stories

A sign is seen at the entrance to the Google retail store in the Chelsea neighborhood of New York City, U.S., June 17, 2021. REUTERS-Shannon Stapleton

Google drops engineering residency after protests over ‘inequities’

Alphabet Inc’s Google plans to shut down a long-running program aimed at entry-level engineers from underrepresented backgrounds after participants said it enforced “systemic pay inequities,” according to internal correspondence seen by Reuters.
FILE PHOTO - Belarus President Alexander Lukashenko attends the Roundtable Summit Phase One Sessions of Belt and Road Forum at the International Conference Center in Yanqi Lake on May 15, 2017 in Beijing, China. REUTERS-Lintao Zhang-Pool

Belarus: Western sanctions bordering on a ‘declaration of economic war’

Belarus views Western sanctions, imposed in response to Minsk’s forced landing of a Ryanair plane last month to arrest a journalist on board, as a declaration of economic war, the Foreign Ministry said in a statement on Tuesday.
Supporters of Ebrahim Raisi celebrate his presidential election victory in Tehran, Iran June 19, 2021. Majid Asgaripour-WANA (West Asia News Agency) via REUTERS

Iran accuses U.S. of meddling for criticising election

Iran accused the United States on Tuesday of interference for saying its election was neither free nor fair as political factions traded blame for the record low turnout and high number of invalid ballots.
People visit a makeshift memorial on the grounds of the former Kamloops Indian Residential School, after the Tk'emlups te Secwepemc band council encouraged mourners to take part in a national day of prayer to honour the remains of 215 children that were found at the site in Kamloops, British Columbia, Canada June 6, 2021. REUTERS/Jennifer Gauthier//File Photo

China, allies seek probe into indigenous children’s remains in Canada

China and its allies called on Tuesday for an independent investigation into the discovery last month of the remains of more than 200 indigenous children at a Canadian boarding school.
A lecturer has been dismissed, while 10 other lecturers have been suspended at Ignatius Ajuru University of Education, Port Harcourt, over the allegation of demanding cash or sex for grades from desperate students.

Rivers university student nabbed with ‘Indian hemp’

The Management of Ignatius Ajuru University of Education has suspended one Mr. Chimara Prince a student of Guidance & Counselling Department of the institution for allegedly being in possession of cannabis sativa, popularly known as Indian hemp.

Most Popular

Barcelona winger Ousmane Dembélé has quit the France squad for EURO 2020 this morning after it was confirmed that the knee problem that he picked up vs Hungary would keep him out for at least 3 weeks.

Euro 2020: Ousmane Dembele ruled out of tournament with injury

France had only brought on Dembele as a substitute earlier in the second-half before he was struck down with a knee issue.
The Nigeria Police Force says its investigation shows that Boko Haram, Ansaru and other terror groups are getting support from some Nigerians.

Police: Abduction, killing reports in Enugu unfounded

The police in Enugu State has waived aside reports of abduction and killing Eha-Amufu community of Isi-Uzo Local Government Area of the state, describing the reports as unfounded.
Japan’s government will approve tighter coronavirus measures for the capital on Friday, weeks after lifting a state of emergency and with just over 100 days until the postponed Tokyo Olympics.

IOC announces details of ‘Olympic Forest’ project

International Olympic Committee (IOC) announced the details of its project to plant the “Olympic Forest” in Mali and Senegal, an element of the IOC’s climate-positive strategy.
The Nigeria Extractive Industries Transparency Initiative, NEITI, has said that it will be working with the Corporate Affairs Commission, CAC, to identify, document and disclose the real owners of Nigeria’s oil, gas and mining assets under the country’s implementation of Beneficial Ownership policy of the global extractive industries transparency initiative.

NEITI: Nigeria’s solid minerals revenue increases to N79.9 billion

Nigeria recorded an increase in revenue from its solid minerals sector in 2019 as it earned N79.96bn from the industry during the period, data released on Sunday by the Nigeria Extractive Industries Transparency Initiative showed.
The Boko Haram insurgency in Northern Nigeria is largely fuelled by youth unemployment and poverty, Nigeria’s President, Muhammadu Buhari, has said.

President Buhari approves employment for families of slain NYSC members

President Muhammadu Buhari has approved automatic employment in the Federal Civil Service for one graduate from each of the immediate families of the 10 slain National Youth Service Corps (NYSC) members in 2011 in Bauchi State.