Nigerian Economy

The Lagos Chamber of Commerce and Industry (LCCI) is soliciting the support of the Lagos State Government for a permanent site to hold the yearly Lagos International Trade Fair and exhibitions.

Minister of Finance, Budget and National Planning, Mrs. Zainab Shamsuna Ahmed, has lauded the attention, speed and commitment with which the National Assembly considered the Finance Bill 2019 submitted by President Muhammadu Buhari .

The Senate on Tuesday appealed to the Federal Government to ban the importation of textiles in the country for a period of five years to allow for the production of local textile materials.

The Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajiya Sadiya Umar Farouq, has commiserated with victims of Balogun Market fire disaster in Lagos, expressing concern over ”repeated market fires” in the country.

The Federal Government, through the Ministry of Humanitarian Affairs, Disaster Management and Social Development, is setting up structures to help mitigate fire outbreaks across the country.

The Nigerian National Petroleum Corporation (NNPC), has revealed that it has made adequate preparations for the yuletide saying petroleum products will be in abundance across the nation.

The National Pension Commission (PenCom) has disclosed that the micro pension scheme launched in March 2019, has recorded a total number of 28,000 contributors from 19 Pension Funds Administrator (PFAs) as at October 2019.

In furtherance to the Central Bank of Nigeria’s (CBN) concerted efforts to revive Nigeria’s ailing Cotton, Textile and Garment (CTG) sub-sector, Edo State Governor, Mr. Godwin Obaseki, has secured a $200m investment for a cotton-weaving and spinning industry at the Benin Enterprise and Industrial Park, in Sapele road axis of Benin City.

President Muhammadu Buhari has approved the establishment of an Air force University in the Tafawa Balewa Local Government area of Bauchi State.

Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, on Friday said that there was no better time to diversify the Nigerian economy than now because the era of crude oil boom was over and that the commodity can never rise above $100 a barrel anymore as Was the case few years ago.

An international non-governmental organisation, WaterAid Nigeria, has said that 50 per cent of all schools in Nigeria do not have basic water and sanitation facilities.

The federal government has launched a modern garment factory to produce uniforms for the armed forces and other security agencies in the country.

Interior Minister Rauf Aregbesola has said the loyalty of Nigerians to the country is non-negotiable.

The Minister of Interior, Ogbeni Rauf Aregbosola, says that the loyalty of Nigerians to the country is non negotiable.

The Federal Ministry of Communications will henceforth be known as ‘Federal Ministry of Communications and Digital Economy’.

The World Bank is willing to invest $510m, in three tranches, in the Lake Chad Basin to address insecurity, desertification and humanitarian challenges, among others.

The Bureau of Public Enterprises (BPE) has so far contributed N135bn out of the N220bn it is expected to generate for the 2019 fiscal budget, Director General of the privatisation agency, Mr. Alex A. Okoh has revealed.

The Kwara State Governor, Alhaji AbdulRahman AbdulRazaq has called for urgent measures to diversify the Nigerian economy and reduce the country’s reliance on crude oil.