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Nigerian Economy

Transcorp to disengage 40 percent of workforce

At least 40 per cent of the staff of Transcorp Hilton Hotels will have to be disengaged if it is to survive the impact of the coronavirus pandemic on the global hospitality and tourism industry, its managing director/chief executive, Dupe Olusola, announced on Thursday.
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed on Saturday met with the leadership of the National Assembly to intimate it with an Executive proposal to establish a N500 billion COVID-19 Crisis Intervention Fund.

Nigerian government seeks bankers’ partnership to ravamp economy

The Federal Government is seeking the partnership of the banking sector in its efforts to revamp the ailing economy occasioned by the outbreak of the coronavirus pandemic.
The Minister of Youth and Sports Development, Mr. Sunday Dare, on has turned the heat on the Nigeria Football Federation (NFF) saying football in the country is going backward.

Nigeria earns N350 million yearly from sports – minister

The Nigeria Premier Basketball League, NPFL, and their likes will become major indexes driving the Nigerian economy when the new national sports policy is ratified and accented to by the President, Muhammadu Buhari.
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

World Bank trains beneficiaries on certification for export potential

The Lagos State Agro-Processing, Productivity Enhancement and Livelihood Support (APPEALS) project of the World Bank and the Federal Government on Monday trained its beneficiaries on certification and regulations.
2. Vice President Yemi Osinbajo virtually presides over the National Economic Council (NEC) meeting at the State House, Abuja.

VP Osinbajo: AfCFTA a veritable platform for trade negotiations

Vice President Yemi Osinbajo has said that one of the ways by which Africa can maximise benefits is to ensure that trade negotiations with the rest of the world are based on the free trade agreement.
6. All Progressives Congress chieftains including former Lagos State Governor, Asiwaju Bola Tinubu; and former Osun State Governor, Chief Bisi Akande, on Saturday, arrived in Akure, the Ondo State capital.

Senator Tinubu: Amotekun will be a pet if everyone is engaged

A former governor of Lagos State and National Leader of the All Progressives Congress, APC, Asiwaju Bola Tinubu, has called for a review of the country’s revenue formula, saying Amotekun security outfit in the S/West will be a pet if everyone is engaged.
7. Less than 35 days to the governorship election in Ondo state, the National leader of the All Progressive Congress, Asiwaju Bola Tinubu has described the opposition Peoples Democratic Party in the state as dead and buried.

Afenifere slams Senator Tinubu for calling for review of revenue formula

Some leaders of the the Yoruba socio-cultural organisation, Afenifere, have slammed the national leader of the All Progressives Congress, Bola Tinubu, over his advice to the Federal Government on the country’s allocation formula.
7. Less than 35 days to the governorship election in Ondo state, the National leader of the All Progressive Congress, Asiwaju Bola Tinubu has described the opposition Peoples Democratic Party in the state as dead and buried.

Senator Tinubu: Nigeria’s revenue formula needs review

The National Leader of the All Progressives Congress, APC, Bola Ahmed Tinubu, has called for an urgent review of the revenue formula of the country.
Zainab Ahmed

Nigeria’s recession will be short-lived – minister

This came as the Federal Government, yesterday, said despite the N2.3 trillion Economic Stimulus Plan put in place to contain impact of the Coronavirus (COVID-19) pandemic on the economy, there is the possibility that the third quarter, 2020 (Q3’20) Gross Domestic Product, GDP, growth rate will be negative, while the economy will relapse into a recession.
Group Managing Director-Chief Executive of Zenith Bank, Mr. Ebenezer Onyeagwu, has called for a concerted effort towards diversifying the country’s export base through the promotion of non-oil exports.

Zenith Bank chief calls for promotion of non-oil exports

Group Managing Director/Chief Executive of Zenith Bank, Mr. Ebenezer Onyeagwu, has called for a concerted effort towards diversifying the country’s export base through the promotion of non-oil exports.

Nigerian government to convert flared gas to affordable electricity – minister

Minister of State for Petroleum Resources, Chief Timipre Sylva, yesterday, disclosed that the Federal Government is currently working with critical stakeholders in the oil and gas industry to convert the massive amount of gas being flared in the country to electricity for Nigerians at a cheaper rate.

Senator Kalu lauds Stanel chief over virus donation to less privileged

Senate Chief Whip Orji Uzor Kalu has commended the chairman of Stanel Group, Dr Stanley Uzochukwu, over COVID-19 palliatives he donated to the less privileged and his contribution to the economic development of Nigeria.
The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said that more private and public sector collaboration will be encouraged as Nigeria steps up effort to realise its target of boosting domestic gas utilisation.

Timipre Sylva unveils NCDMB gas hub in Bayelsa

Chief Timipre Sylva, the Minister of State for Petroleum Resources, has unveiled the Nigerian Content Development and Monitoring Board (NCDMB) Gas Hub and performed the groundbreaking ceremony of Rungas LPG Composite Cylinder Manufacturing plant, located inside the Gas Hub at Polaku community, Bayelsa state.

Senate to support NDIC in protecting depositors

The Senate Committee on Banking, Insurance and Other Financial Institutions, has pledged to support the Nigerian Deposits Insurance Corporations (NDIC) to carry out its functions more effectively.
3. The truce-seeking trip of President Muhammadu Buhari to the Malian capital of Bamako on Thursday ended without a deal to soothe the country’s escalating political crisis.

Presidency: 2.4 million households to benefit from Nigerian government’s stimulus package

To ensure food security for citizens, at least 2.4 million households will benefit from the Federal Government’s post COVID-19 stimulus package, a presidential aide says.
UBA SANI

Senator Sani: Senate, NDIC retreat a huge success

Senator Uba Sani has described the retreat held by Senate Committee on Banking, Insurance and Other Financial Institutions with the Nigeria Deposit Insurance Corporation (NDIC) in Kaduna as a huge success.
Surveyor General of the Federation, Taiwo Adeniran, has revealed the preparedness of his office to collaborate with the Revenue Mobilization Allocation & Fiscal Commission to produce a map with geospatial data that will make evidence-based decisions

Surveyor General partners RMFAC for equitable disbursement of national wealth

Surveyor General of the Federation, Mr Taiwo Adeniran, has revealed the preparedness of his office to collaborate with the Revenue Mobilization Allocation and Fiscal Commission (RMFAC) to produce a map with geospatial data that will make evidence-based decisions.
Okwesilieze-Nwodo

Okwesilieze Nwodo: Igbo elites have turned down Nnamdi Kanu’s rhetoric’s to achieve restructured Nigeria

The former National Chairman of the People’s Democratic Party, PDP, Dr. Okwesilieze Nwodo, yesterday, said Igbo elites have been trying to tune down the rhetorics of Nnamdi Kanu to achieve a restructured Nigeria.

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Governor Nasir El-Rufai has appointed new members of the management team and boards of some agencies, as part of continuous efforts to strengthen Kaduna State Government structures.

Kaduna to revive guidance, counselling unit in public schools

The Kaduna State Government said on Friday that it would revive guidance and counselling unit in public Secondary Schools in the state.
Akwa Ibom State Commissioner for Information and Strategy, Comrade Ini Ememobong, gave the charge Friday while playing host to the Executive members of the State branch of FIDA, during a courtesy call on him in the Conference room of the Ministry.

Akwa Ibom announces dates for resumption of schools

Akwa Ibom State Government has fixed September 21 2020 for the commencement of processes for the resumption of academic activities in the state-owned university, college of education and public primary schools.
Babagana Zulum, governor of Borno state, says he is critical of the Nigerian army so that they can improve in their fight against insurgency.

Governor Zulum: Boko Haram now recruits children in Borno

Governor Babagana Zulum of Borno State says Boko Haram insurgents have started recruiting children in the state due to the increase in unemployment.

Edo election: PDP Reps condemn ‘siege’ on opposition governors

The Peoples Democratic Party (PDP) caucus in the House of Representatives has condemned alleged siege on opposition governors by security agents in Benin City, the Edo State capital, ahead of Saturday’s gubernatorial election in the state.
Serge Gnabry hit a hat-trick as holders Bayern Munich romped to an historic 8-0 rout of Schalke on Friday in the opening game of the 2020-21 Bundesliga season behind closed doors.

Bayern thrash Schalke 8-0 in Bundesliga opener

Serge Gnabry hit a hat-trick as holders Bayern Munich romped to an historic 8-0 rout of Schalke on Friday in the opening game of the 2020/21 Bundesliga season behind closed doors.