Nigerian Economy

Despite the increasing wave of unemployment in Nigeria, the Director General of Industrial Training Fund (ITF), Joseph Ari, said it was difficult and hard to fill in vacancies that existed in 925 trades in the country’s labour market due to lack of requisites skills.

The Act establishes the Federal Competition and Consumer Protection Commission as well as the Consumer Protection Tribunal to try violations.

Financial experts on Monday called for speedy passage of the 2019 budget saying incessant delay in the approval of budgets over the years contributed to the downturn in the economy.

The Minister of Budget and National Planning, Senator Udoma Udo Udoma is optimistic that the Nigerian economy will continue to maintain its recovery in 2019 as the real GDP growth is expected to increase from 0.8% in 2017 to 2.1% in 2018 and 3.01% in 2019, with the sustained implementation of the ERGP.

Former President Olusegun Obasanjo has pointed out that Atiku Abubakar, the Peoples Democratic Party’s (PDP) presidential candidate, would be a president to all Nigerians and not president to only those who would vote for him.

The Minister of Information, Lai Muhammed, yesterday disclosed that the federal government was not panicking despite the drastic fall in oil prices since the second half of 2014.

A Nigerian professional forum in the U.S. have put measures in place to attract an estimated $3 billion investment into the Nigerian economy in the next three years.

The above quote is probably synonymous with the popular definition of insanity as “the continuous repetition of the same process with the same wrong results, and still expect a positive difference at each turn.”

The presidential candidate of African Action Congress, Omoyele Sowore, has said that he would not run a government of body language if elected into office because he would be involved.

Foreign Affairs Minister, Geoffrey Onyeama, says the South-East has a better deal in the re-election of President Muhammadu Buhari in Feb. 16 presidential election.

Central Bank of Nigeria (CBN) Governor Godwin Emefiele has warned that the Peoples Democratic Party (PDP) presidential candidate’s suggestion that the exchange rate should be free float is a recipe for disaster.

The Federal Government will soon start sourcing foreign exchange (forex) from Dangote Group, as soon as the latter’s refinery, petrochemicals and fertilizer projects come on stream.

Three Presidential Candidates, Oby Ezekwesili of the Allied Congress Party of Nigeria (ACPN), Fela Durotoye of the Alliance for New Nigeria (ANN) and Kingsley Moghalu of the Young Progressives Party (YPP) on Saturday clashed on the economy in the televised debate held at the Transcorp Hilton Hotel, Abuja.

The running mate to Alhaji Atiku Abubakar in the forthcoming 2019 general election on the platform of the Peoples Democratic Party, Peter Obi, has described his principal’s trip to the United States of America as necessary and not undertaken to prove any point.

Soothing news came the way of Nigeria on Tuesday as the African Development Bank (AfDB), through its trade finance operations, has approved $14.12 million facility to support the Nigeria’s membership of African Trade Insurance (ATI) Agency.

Federal Inland Revenue Service (FIRS) has broken Nigeria’s all-time revenue generation record, after generating N5.3 trillion in 2018.

Given the challenging economic conditions the country is facing, the Lagos Chamber of Commerce and Industry (LCCI) has stressed that key policy reforms will be imperative to support and sustain macroeconomic stability.

The Tertiary Education Trust Fund has predicted Nigeria would become the 14th best economy in the world by 2050.