Nigerian Economy
World Bank: Nigeria to surpass 2.5% growth projection – BMO
The Buhari Media Organisation (BMO) has tackled the International Monetary Fund (IMF) over its 2.5% economic growth projection for Nigeria, accusing the Fund of not carrying out a proper assessment of the nation’s economy.
Minister: Nigerian government to tackle flood-prone areas on Lagos-Ibadan rail line
The Federal Government will go the whole distance to put measures in place to address flooding on the Lagos-Ibadan rail line, Minister of Transportation, Rotimi Amaechi, has assured.
CBN sensitizes Nigerians on products, policies
Speaking at the fair with the theme: Promoting Financial Stability and Economic Development at Sultan Maccido Quranic institute, Sokoto, the CBN Governor Mr Godwin Emefiele said this was to enlighten the general public about the products and interventions of the bank to grow the nation’s economy.
LCCI: Skill mismatch worsens Nigeria’s unemployment situation
The Lagos Chamber of Commerce and Industry (LCCI) has realised that skill mismatch contributes to persistent worsening of the Nigeria’s unemployment situation, its president, Mrs Toki Mabogunje, said on Tuesday.
Dangote fertiliser to train South East farmers
Dangote Fertiliser has promised to train farmers in the South East geopolitical zone on better ways of farming to ensure bumper yields.
DBN disburses N191.7 billion in 2020 to SMEs
Development Bank of Nigeria (DBN) Plc, has disbursed N191.7bn to small- and medium-scale enterprises in 2020, representing 89 percent increase on the N101.5bn it disbursed in 2019.
Nigerian government plans to educate 10 million out-of-school children under alternate school programme
The federal government has commenced plans to educate over 10 million out-of-school children in different parts of the country under the Alternate School Programme (ASP).
Seplat issues $650 million oil and gas bond
Seplat Petroleum Development Company, a Nigerian independent oil and gas firm, has issued $650 million in aggregate principal amount of senior notes due in 2026.
BPE chief sets 6-point agenda
The newly re-appointed Director General of the Bureau of Public Enterprises (BPE), Mr. Alex A. Okoh has set up a 6-point agenda to chart the course of his administration in the next four years.
Money laundering: EFCC seeks collaboration with Nigerians in diaspora
The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Abdurrasheed Bawa, has called on Nigerians in Diaspora to support the Commission in the fight against Money laundering and other financial crimes.
Nigerian government explains failure of previous national plans
The federal government has traced the failure of previous national economic plans partly to inadequate cooperation and buy-in by sub-national governments.
Reps: Nigeria loses $90.5 million annually to shoddy aviation concession deals
The House of Representatives says Nigeria is losing $90.5 million annually to shoddy concession deals in the aviation sector.
House speaker: Nigeria’s economy in dire straits
If not quickly addressed, the heightening insecurity in the country will wreck the country’s economy, Speaker of the House of Representatives, Femi Gbajabiamila, has warned.
Nigerian government to give N30,000 loan to 330,000 self-employed artisans
Under the supervision of the Ministry of Industry, Trade and Investment, the Bank of Industry has secured a $1 billion syndicated loan to support Micro, Small and Medium Enterprises (MSMEs).
VP Osinbajo: President Buhari’s administration supporting growth of creative sector
Vice President, Yemi Osinbajo, has said the Muhammadu Buhari administration recognises the strategic importance of the entertainment and creative sector in growing the Nigerian economy.
Lagos governor hails Aliko Dangote over refinery, fertiliser plant
Lagos State governor, Mr. Babajide Sanwo-Olu, has commended the Dangote Group for building the biggest investment in the country in Lagos State, and for the positive development which the Dangote Oil Refinery and Dangote Fertiliser Complex would bring to Lagos and the Nigerian economy.
Coronavirus: CBN doubles loan disbursement to N300 billion – bank governor
The Central Bank of Nigeria (CBN) says it plans to double the Targeted Credit Facility (TCF) from the initial N149.21 billion to N300 billion following the resounding success recorded in the disbursement of the Covid-19 loans to the applicants.
NPHCDA: Coronavirus vaccines delivered to 35 states, FCT
A Federal Government agency has told the National Economic Council, NEC, that the COVID-19 vaccines have now been distributed across 35 states and the Federal Capital Territory, FCT, leaving just one state out.
NCC, Nile university to collaborate in software engineering, AI
The Nigerian Communications Commission (NCC) has welcomed the proposal by Nile University of Nigeria seeking its collaboration in the areas of software engineering, Artificial Intelligence (AI) and programming.
VP Osinbajo canvasses ppp approach to address Nigeria’s infrastructural deficit
Vice-President Yemi Osinbajo has stated that the only way to effectively address the massive infrastructural deficit that the country faces is by public-private partnership (PPP) arrangement in one form or the other.
EFCC directs banks staff to declare assets, gives deadline
EFCC chairman Abdulrashed Bawa on Tuesday told reporters at the Presidential Villa that the move is part of measures to sanitise the nation’s financial system and block loopholes exploited by unscrupulous players to undermine the Nigerian economy through money laundering and illicit financial flows.
CBN governor: Trade restrictions policy to protect local industries
The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, yesterday defended the apex bank’s restrictive trade policy, stressing that it was meant to protect local industries from unfavourable competition and to create jobs for Nigerians.
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Yoruba group dissociates self from secession clamour
The Agbajowo Advocacy for Yoruba People’s Rights, a pan-Yoruba socio/cultural organisation, has rejected secession clamours by some sections of the country.
North West group backs call for restructuring, others
The Nigerian Political Science Association (NPSA), North West Zone, at the weekend joined calls for the restructuring of the country.
Ogun chief: My life under threat over land tussle
The Oniraniken of Iraniken, Sagamu, Ogun State, Oba Adewale Adeniji, has raised the alarm over threat to his life over land dispute in his domain.
IMF urges governments to prioritize health care spending
The International Monetary Fund (IMF) has said while the pandemic continues, governments’ policies should first focus on escaping the crisis, prioritizing health care spending, providing well-targeted fiscal support, and maintaining accommodative monetary policy while monitoring financial stability risks.
NSF: I see young people with future in sports – minister
The minister of Youth and sports development, Chief Sunday Dare, said the ongoing Edo 2020 National Sports Festival in Benin City has rekindled Nigerian youths hope for a better tomorrow, saying he sees a lot of young people who have future in sports.
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St Vincent’s Caribbean residents wake to ash-covered streets, rumbling volcano
Residents of the eastern Caribbean island of St. Vincent on Saturday woke to rumbling noises emanating from the La Soufriere volcano that spectacularly erupted a day earlier, while a thin layer of ash coated rooftops, cars and roads.
IGP: Police will not allow criminalities to succeed
The Inspector-General of Police, Mohammed Adamu, on Tuesday assured that the Force would not allow criminals to succeed in the country.
Security agencies move to stop further attacks on South-east
Sunday Ehigiator in Lagos, Gideon Arinze in Enugu, David-Chyddy Eleke in Awka, Benjamin Nworie in Abakaliki and Emmanuel Ugwu-Nwogo in Umuahia
Abia Assembly cautions member over negative utterances against governor
The leadership of the Abia State House of Assembly has cautioned member representing Bende North constituency, Hon Chijioke Chukwu, over consistent negative utterances against the present Peoples Democratic Party, PDP, administration in the state.
American actress apologises for mistakenly tweeting that DMX died
DMX reportedly suffered a drug overdose that triggered a heart attack last week Friday and is in the ICU at White Plains Hospital in New York. He also has COVID-19 to deal with.