gross domestic product
NIPC: Shoprite move an opportunity for Nigerian investors
The announcement by Shoprite Holdings Limited, the South African supermarket chain operator, of a formal process to consider the potential sale of all or a majority stake in its Retail Supermarkets Nigeria Limited may be an opporunity for Nigerian investors, the Nigerian Investment Promotion Commission (NIPC) has said.
Morocco to reform state bodies in virus response – ministry
Morocco plans to reform, merge or dissolve some state bodies to reduce their dependency on a state budget hit by the coronavirus pandemic, the finance minister said on Wednesday.
Minister: New national forest policy will preserve ecosystems
Dr Mohammed Abubakar, the Minister of Environment. said the new National Forest Policy (NFP), recently approved by Federal Executive Council (FEC), would assist the country in managing and sustaining its vast forest resources.
ICT contributes 14% to GDP in Q1 of 2020 – NITDA chief
Kashifu Inuwa, Director-General, National Information Technology Development Agency (NITDA), on Friday said Information and Communication Technology (ICT) contribution to Gross Domestic Product (GDP), was 14 per cent in first quarter of 2020.
Lagos governor approves N1 billion seed capital for hospitality business
Lagos State Governor Babajide Sanwo-Olu has approved N1billion seed capital for investment in tourism as a loan. Sanwo-Olu announced the approval on Wednesday, at the 6th Lagos Corporate Assembly, held at the Banquet Hall in the State House, Alausa, Ikeja.
South Africa’s retail sales plunge in April and May after hard lockdown
South Africa’s retail sales plunged by a record 50.4% in April and 12% in May, data showed on Wednesday in the latest evidence of the impact of the early, stricter phase of the country’s coronavirus lockdown.
Fitch affirms Triple A rating of AfDB with stable outlook
Fitch Ratings, the global credit rating agency, has affirmed the African Development Bank’s (AfDB) Long-Term Issuer Default Rating (IDR) at ‘AAA’ with stable outlook.
Tunisia seeks late debt payments as crisis hits economy, state budget
Tunisia has asked four countries to delay debt repayments, it said on Monday as it announced more pessimistic economic and budget forecasts for 2020 because of the coronavirus pandemic.
Nigeria proposes N11.9 trillion total expenditure in 2021 budget
The federal government, on Friday, announced total projected expenditure of about N11.9 trillion for the 2021 fiscal year.
Nigeria hits 40.18 percent broadband penetration – minister
The Minister revealed this on Thursday, while inaugurating Broadband Implementation Steering Committee (BISC) to accelerate the attainment of 70 percent broadband penetration target by 2025 in Abuja. Pantami, who expressed satisfaction with the contribution of the sector to the nation’s GDP, described the contribution as unprecedented.
Nigerians urges government not to open sporting facilities
A section of sports enthusiasts have called on the government to extend the lockdown on sporting facilities across the country due to the rise in COVID-19 cases.
NITDA rolls out policies to retain 100,000 jobs, creates 30,000 jobs
National Information Technology Development Agency (NITDA) has put numerous efforts in creating an enabling environment for the purpose of cushioning the effect of the pandemic and creating more jobs, the director-general of NITDA, Mallam Kashifu Inuwa has said.
South African rand opens stronger after positive data
South Africa’s rand opened stronger on Friday and was on course for gains of roughly 2% against the dollar this week, after the first current account surplus in 17 years and an upbeat U.S. jobs report.
House of Reps begin investigation of skills acquisition programme funds
The House of Representatives on Thursday resolved to set up an Ad-hoc Committee that will investigate the multi-billion naira provided annually for the skills acquisition programmes of the Federal Government across the country.
World Bank approves $750 million for Nigeria’s power sector recovery
The World Bank has approved a 750 million dollar International Development Association (IDA) credit for Nigeria’s Power Sector Recovery Operation (PSRO) to improve electricity supply.
VP Osinbajo: Nigerian government large, expensive
Osinbajo explained that there is need for a national debate on issues surrounding the size and cost of governance on Nigeria.
VP Osinbajo calls for national debate to reduce size of government
The Vice President, Prof Yemi Osinbajo, says Nigeria needs a national debate to address the issues around the size of government and cost of governance in Nigeria.
Nigeria designates seven strategic minerals to unlock economy
Mr Olamilekan Adegbite, Minister of Mines and Steel Development, says the Federal Government has designated seven of the country’s strategic minerals to unlock the enormous potential in the mining sector.
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Huawei will stop producing Kirin chipsets on September 15
Huawei will stop making its flagship Kirin chipsets next month, financial magazine Caixin said on Saturday, as the impact of U.S. pressure on the Chinese tech giant grows. U.S. pressure on Huawei’s suppliers has made it impossible for the company’s HiSilicon chip division to keep making the chipsets, key components for mobile phone, Richard Yu, CEO of Huawei’s Consumer Business Unit was quoted as saying at the launch of the company’s new Mate 40 handset.
House of Reps uncovers abandoned power projects worth over N156 billion
The Federal House of Representatives, in it’s oversight function, has uncovered many power projects, put together at the cost of N156 billion, that are being abandoned or are yet to be completed by the Transmission Company of Nigeria (TCN).
Biafra group warns Miyetti Allah against operating security outfit in South-east, South-south
The Biafra Nations Youth League, BNYL, on Saturday, warned Miyetti Allah Kautal Haure not to allow the Fulani Security group to operate in the Southeast and Southsouth to avoid bloody confrontation by both groups.
Governor El-Rufai: South should produce next President
Barely a week after President Muhammadu Buhari’s closest ally and nephew, Malam Mamman Daura, spoke against zoning of presidency ahead of the 2023 election, Kaduna Governor Nasir El-Rufa’i has said the next President should come from the South.
LAWMA arrests 13 cart pushers for environmental laws violation
Mr Ibrahim Odumboni, Acting Managing Director, Lagos State Waste Management Authority (LAWMA), said the authority arrested 13 cart pushers and seized 29 carts for violating environmental laws of the state.
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UNIPORT acting vice chancellor inaugurates committees to resolve crisis rocking varsity
Acting Vice Chancellor of the University of Port Harcourt, Prof. Stephen Okodudu, has expressed worries over the lingering crises rocking the institution.
PDP challenges Comrade Oshiomhole to present primary six certificate
Edo State chapter of the Peoples Democratic party (PDP) has dragged the former National Chairman of the All Progressives Congress (APC), Comrade Adams Oshiomhole to the court of public opinion, urging him to present his primary School Leaving Certificate if he actually went to school.
NSE: Trading sustains bullish trend, rises 0.45 per cent
Activities on the trading floor of the Nigerian Stock Exchange (NSE) maintained a bullish posture on Friday with the market indicators appreciating further by 0.45 per cent.
Apple updates iMac with new Intel processors, better webcam
Apple is announcing updates for both the 27-inch and 21.5-inch iMacs. It’s updating the processors inside to Intel’s 10th Gen Comet Lake processors and also switching out the webcam to a higher-resolution 1080p HD sensor instead of the low-res 720p found in other Macs. SSDs are now standard across the line, and there will be a bunch of new configuration options — including a “nano-texture” version with less reflective matte glass.
Ondo guber: We didn’t substitute name of any aspirant, candidate – INEC
The Independent National Electoral Commission (INEC) says it does not substitute nominated candidates of the African Action Congress (AAC) or any other party’s nominations for Ondo governorship election.