Standards Org. of Nigeria Staff, Stakeholders Undergoes Training On Vehicle Inspection

The Standards Organisation of Nigeria (SON),  commenced the training of its staffers and other stakeholders on vehicle inspection and compliance with standards. The Director-General, SON, Mr Osita Aboloma, was represented by Mr Dauda Yakubu, Regional Coordinator, North West, at the training. The two-day event holding in Sokoto, drew participants from the nineteen northern states.  …

Easter Surprise: Lagos Residents to Enjoy Uninterrupted Power Supply

  The Eko Electricity Distribution Plc (EKEDC) says it will ensure uninterrupted power supply throughout the Easter period in the zone. To this end, the electricity company said it had already adopted some measures. Mr Godwin Idemudia, the General Manager, Corporate Communications of the company, told the the News Agency of Nigeria (NAN) in Lagos…

ECONOMY: We see light at the end of the tunnel –Osinbajo

Vice President Yemi Osinbajo has said that President Muhammadu Buhari’s administration is hopeful of replicating the success it has made in the area of security and fight against corruption in the nation’s economy.   A statement released by Senior Special Assistant (SSA) on media and publicity to the President, Office of the Vice President, Laolu…

FIRS to introduce electronic tax clearance certificate,TCC

The Federal Inland Revenue Service (FIRS) says it will soon introduce electronic Tax Clearance Certificate (e-TCC) system to  help reduce  fraudulent certificates. Mr Kola Okunola, Director ICT, FIRS, said this in a presentation at the ongoing training by Journalism.com Ltd., in collaboration with FIRS on Thursday in Abuja. He said that the implementation of the…

Nigeria’s inflation dropped by 0.52% in March says Bureau of Statistics

The National Bureau of Statistics (NBS) on Thursday said that inflation dropped by 0.52 per cent in March, the second decline recorded on the year- on- year basis. The first decline was recorded in February when inflation dropped by 0.94 per cent. In its latest Consumer Price Index (CPI) for March released in Abuja, the…

FIRS Realises N2.5bn From Value Added Tax Automation With Airlines

  The Federal Inland Revenue Service(FIRS) has entered into Value Added Tax (VAT) automation with Aero contractors, Dana and Medview airlines to boost revenue collection in Aviation. The Director, ICT FIRS, Mr Kola Okunola, said this in a presentation at the ongoing training by Journalism. Com Ltd. in collaboration with FIRS on Wednesday in Abuja….

Value chain economy, key to reduction of prices of goods – Deputy Gov.

Chief Eze Madumere, Deputy Gov. of Imo, on Wednesday said that Gov. Rochas Okorocha’s value chain-based economy was key to building a virile economy aimed at driving an affordable price system. Madumere said this in an interview with the News Agency of Nigeria (NAN) in Abuja. He was commenting on ways of reducing price of……

SON Canvasses Ways Out of Glut For Egg Markets

the Standards Organisation of Nigeria (SON) has advised poultry farmers across the country to channel their energies towards increased production of egg powder as one of the ways out of the current glut in the egg market.      Egg powder production requires special machines which processes egg from its original form to powder for other…

Standards Organisation of Nigeria Wants Nigerians to Buy Certified Products

The Standards Organisation of Nigeria (SON) on Friday advised Nigerians to patronise only its certified products to enable them get value for their money. The organisation also promised to continue to flush out substandard products. Its Director-General, Dr Osita Aboloma, made the call at the SON Special Day at the ongoing 2017 Enugu International Trade…

Association advises FG to incorporate constituencies in Economic Recovery Plan

Nigerian Statistical Association (NSA), has advised the Federal Government to incorporate constituencies in the implementation of the just inaugurated Economic Recovery and Growth Plan (ERGP) 2017 to 2020. Dr Olusanya Olubusoye, the 2nd Vice-President of NSA, gave the advice in an interview with the News Agency of Nigeria (NAN) on Monday in Abuja. The ERGP’s……

TMC commends FG’s moves towards reviving economy

Impressed by the whistle blower policy, The Muslim Congress (TMC) has commended the Federal Government for confronting the corruption menace that led the country into recession. Dr Luqman AbdurRaheem, Chairman of TMC Committee on Social Mobility, the Economy and Politics, gave the commendation during the presentation of its sixth State of the Nation Address on……

What’s Wrong With Nigeria’s Economy? — Diagnosis from Doctor IMF

Country surveillance is an ongoing process that culminates in regular (usually annual) comprehensive consultations with individual member countries, with discussions in between as needed. The consultations are known as “Article IV consultations” because they are required by Article IV of the IMF’s Articles of Agreement. During an Article IV consultation, an IMF team of economists……

Central Bank Outlines A Bigger Long-term Fight Against Low Naira to Dollar

The Central Bank of Nigeria (CBN) has auctioned $418 million at a marginal rate of 310 Naira to dollar, to airlines, agriculture, petroleum and raw materials sub-sectors. The CBN acting Director, Corporate Communications, Mr Isaac Okorafor said in Abuja that the $480m offered last week was in addition to the $350 million sold at a…

Educationists express mixed feelings on FG’s recovery plan success

Some members of the academia on Saturday expressed different views on effectiveness of the Economic Recovery and Growth Plan (ERGP) to change the fortunes of Nigerians. While some told the News Agency of Nigeria (NAN) in interviews in Lagos that it was a right step in the right direction, others were sceptical about its likely……

UN Deputy Secretary-General Advises On Prompt Preparations For Census

Deputy Secretary-General, Ms Amina Mohammed, has  tasked the Federal Government on the need to promptly begin preparations for the next population census. Mohammed gave the advice when Dr Ghaji Bello, Director-General of NPC , who led Nigeria’s delegates at the 50th session of the UN Commission on Population and Development on a visit in New…

NTA News Summary: FG Responds to Judgment On Justice Ademola’s Case

NTA News Summary FG Responds to Judgment On Justice Ademola Case Following some losses in the court over corruption cases, the Federal Government on Wednesday this week filed an appeal against the decision of Justice Jude Okeke to uphold the no case submission in the corruption case against Justice Adeniyi Ademola, Mrs Olabowale Ademola and…

Buhari’s commitment to economic diversification more than a mantra – Adesina

Mr Femi Adesina, Special Adviser on Media and Publicity to the President, has said that the ongoing efforts to diversify the economy will yield positive results, unlike previous years of promises and experimentation. Adesina stated this when he received a delegation led by the Grand Patron of National Association of Nigerian Students, Mr Eze Ebere,……

NTA News Summary: Buhari Inaugurates Economic Recovery Team

NTA News Summary  Buhari Inaugurates Economic Recovery Team The Nigeria Economic Recovery and Growth Plan has formally launched by President Muhammadu Buhari. It is aimed at not only taking the economy out of recession but also placing the country on the path of sustained, inclusive and diversified growth at a rate of at least 7…

FAAN: Nigeria’s Airports Record 15.2m Passengers

  Murtala Mohammed Intl. Airport Lagos: One of the airports that recorded passengers boom By Cecilia Ologunagba (NAN) The National Bureau of Statistics (NBS) has said that a total of 15,232, 597 passengers travelled through Nigeria’s airports in 2016. The NBS which disclosed this figure in a report on “Fourth Quarter 2016 and Full Year…

Kebbi Investment Opportunities at Dubai Economic Summit

The Kebbi State Government under the leadership of H.E. Governor Abubakar Atiku Bagudu has taken detailed investment opportunities from Kebbi in agricultural products, mineral and natural resources abroad. A delegation from Kebbi State Government are currently at the 7th Edition of the Annual Investment Meeting (AIM) happening at World Trade Centre in Dubai, UAE. The…

Economy: Don predicts further drop in inflation rate

Prof. Uche Uwaleke, a financial expert, has predicted a further decrease in the rate of inflation for March 2017 as it was the case in February. Uwaleke , the Head of Banking and Finance, Nasarawa State University, Lafia, made the prediction in an interview with the News Agency of Nigeria (NAN ) on Tuesday in……

Group Seeks 0% VAT On Renewable Energy Products

The Renewable Energy Association of Nigeria (REAN) has advocated the provision  of  a zero per cent Value Added Tax (VAT) on all Distributed Renewable  Energy Products (DREP) in the country. REAN’s President, Mr  Segun  Adaju, in a statement issued in Abuja on Tuesday, said zero free VAT would help accelerate growth of the renewable market….

President Buhari Launches Economic Recovery and Growth Plan (ERGP) Tomorrow

Femi Adesina, Abuja: In furtherance of the current Administration’s drive to sustain and build on the successes so far recorded in tackling corruption, improving security and re-revamping the economy, President Muhammadu Buhari, will Wednesday, April 5, 2017, formally launch the Economic Recovery and Growth Plan (ERGP) 2017-2020. The ceremony will take place in the Council…

Financial Expert Predicts Further Appreciation Of The Naira

Prof. Uche Uwaleke, a financial expert, has predicted a further decrease in the rate of inflation and appreciation of the Naira for March 2017 as it was the case in February. Uwaleke , the Head of Banking and Finance, Nasarawa State University, Lafia, made the prediction in an interview with the News Agency of Nigeria…

“We Commit To Do More and To Make Your Lives Better” – Fashola

Hakeem Bello, Abuja: Even as the nation begins to experience a gradual turnaround in its economic fortunes, Minister of Power Works and Housing, Mr. Babatunde Fashola SAN, has assured Nigerians of yet greater things to come saying the Federal Government was committed to making their lives better. Fashola, who was represented in Lagos on Sunday…

Ageing Population To Be Included In Development Plan – SDGs Office

Office of the Senior Special Assistant to the President on Sustainable Development Goals Nigeria (OSSAP-SDGs) says it is working with relevant stakeholders to include the ageing population in the SDGs plan. Head of Sectors, OSSAP-SDGs, Mr Jenefaa Gillis-Harry told the New Agency of Nigeria (NAN) on Tuesday in Abuja, that no one would be left…

Online Portal To Register Unemployed Nigerians Goes Live On Wednesday – NDE

The Federal Government is to register unemployed Nigerians online as from Wednesday April 5. The Deputy Director, Information and Public Relations of  the National Directorate of Employment (NDE), Edmund Onwuliri, announced this in a statement given to News Agency of Nigeria (NAN), in Abuja on Monday. Onwuliri said the registration was aimed at collecting up to date data…

WTO to rule on China’s market economy status

The World Trade Organisation (WTO) on Monday said it would rule on a case filed by China on whether the country should be treated as market economy. Diplomats said this in Geneva at a meeting. In its complaint against the European Union, China demanded to be defined as free market economy, a status that would……

South East Governors’ Forum sets up committee to boost economy

The South East Governors’ Forum has set up a 10 member committee to fashion out ways to integrate and boost economy of the zone. The Chairman of the forum, Gov. Dave Umahi of Ebonyi, disclosed this to newsmen in Enugu on Sunday at the end of its meeting. Umahi said that the committee made up……

Central Bank of Nigeria Releases Telephone Line to address Forex issues

    (VON) The Central Bank of Nigeria (CBN) has released an emergency mobile phone line for customers denied access to foreign exchange by banks for medical bill and school fees. CBN also released email address for immediate complaint against any commercial bank that denies a customer access to foreign exchange. The customers have been…

Economy may be grounded as tanker drivers set for strike on Monday

Nigerians be in for another round of fuel scarcity, which will affect its economy, if members of the Petroleum Tankers Drivers (PTD) carry out their threat to embark on strike tomorrow (Monday). The PTD, an arm of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) it has had enough of promises, and wants…

Seized Items: Customs to Commence Online Auction

(VON) The Nigeria Customs Service is to commence online auction of seizures to tax payers with Federal Inland Revenue Service (FIRS). Only tax payers issued with Identification Number will be eligible to participate. This is part of the guidelines contained in a new e-auction portal to be deployed for disposing of seizures that have undergone…

Nigeria To Partner Poland In its Economic Development Exploits

Nigeria and Poland are working towards developing stronger bilateral ties. Nigeria’s Minister of Foreign Affairs Geoffrey Onyeama Nigeria who recently visited Poland for discussions said he was “extremely impressed ” by the economic development of Poland, a country that came out of communist rule only 28 years ago. Onyeama noted that Nigeria, an oil Producing…

CBN:There is Adequate Forex for PTA, BTA, Tuition & Medical Fees

There is Adequate Forex for PTA, BTA, Tuition & Medical Fees Information reaching the Central Bank of Nigeria (CBN) reveals that some customers seeking to buyforex for BTA, PTA, medical and school fees are being frustrated by some banks with the false claim that the CBN is not allocating enough forex to them for BTA,…

28th Enugu International Trade Fair: Job seekers throng fair ground

Hundreds of job-seeking artisans in Enugu and neighbouring states have thronged the Enugu International Trade Fair ahead of the commencement of the 28 Enugu International Trade on Friday. The News Agency of Nigeria (NAN) reports that most of the artisans spotted at the Permanent Trade Fair Complex include; carpenters, decorators, painters and electricians among others. A…

CBN Raises New Modalities To Supply FOREX To BDCs For Forwards

In line with its pledge to sustain liquidity in the foreign exchange market, the Central Bank of Nigeria CBN) will from Monday, April 3, 2017 commence twice weekly FOREX sales to licensed Bureaux de Change (BDCs) in the country. A statement by the Bank’s Acting Director, Corporate Communications Department, Isaac Okorafor, disclosed that weekly sale…

We are moving out of recession gradually – Buhari

President Muhammadu Buhari on Thursday disclosed that the nation’s economy was gradually recovering from the current economic recession. Buhari made the disclosure when he received the outgoing Ambassador of the Royal Embassy of Saudi Arabia, Fahad Bin Abdullah Sefyan at the Presidential Villa, Abuja. In a statement signed by his Special Adviser on Media and……

Lawmaker harps on robust SMEs for economic recovery

Mr Rotimi Olowo, the Chairman, Lagos State House of Assembly Committee on Budget and Economic Planning, on Wednesday said that robust Small and Medium Enterprises (SMEs) would strengthen the nation’s economy. Olowo (APC-Somolu I) said this in an interview with the News Agency of Nigeria (NAN) in Lagos. He spoke on the Federal Government’s economic……

FG Restates Commitment to Develop the Solid Minerals Sector

Nigeria’s minerals and steel sector has again been identified as a veritable tool for wealth creation and employment generation especially as   the federal government intensifies efforts to diversify her economy Minister of mines and steel development Kayode Fayemi says government’s commitment to address challenges in the sector as an approach to fully maximize its potentials…

We copied Tinubu’s economic blueprint at the federal level – Adeosun

The minister of finance, Kemi Adeosun has admitted using Lagos state’s economic template  during Bola Tinubu’s period as the governor to boost the growth of Nigeria’s economy. She revealed this on Tuesday at the colloquium organised to celebrate the 65th birthday of Bola Tinubu in Lagos, the minister said she was not ashamed to admit that Lagos’……

Business experts appeal to FG to fast track harmonization of tax policy

Some business experts on Tuesday called on the Federal Government to fast track the implementation of tax harmonisation policy to enhance growth of Micro, Small and Medium Enterprise (MSME) sector. They told the News Agency of Nigeria (NAN) in Lagos that harmonisation of tax policy would ameliorate negative economic challenges and expedite economic recovery from…

Update on FOREX Market As Central Bank Offered $100m To Dealers

Olalekan Ajayi, Abuja: Following Thursday’s FOREX wholesale auction, the Central Bank of Nigeria (CBN) on Friday, March 24, 2017, concluded transactions on the sum of $100 million earlier offered at the interbank market to meet customers’ demands, out of which authorized dealers were only able to pick $81.347 million after an initial bid for $91…

Nigeria, Morocco Fertilizer Deal Creates 50, 000 jobs -NNPC

Ndu Ughamadu, Abuja: About 50, 000 jobs have been created in the country following the signing of a Memorandum of Understanding (MoU) on the supply of phosphate between the Nigerian government and the Moroccan government. Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Kacalla Baru disclosed this on Thursday while receiving…

Comptroller General of Customs Hameed Ali Unveils Number For Easy Verification

In line with his continuous efforts to make verification of Customs Duty Papers easy for members of the general public, the Comptroller General of Customs Col. Hameed Ibrahim Ali (Rtd) has released Three Telephone numbers that could be used to reach the help desk for immediate Confirmation. The numbers are: 09-4621597 09-4621598 09-4621599 Those interested…

Rates retention needed to sustain economic recovery- experts

Some financial experts on Wednesday said the retention of monetary policy rates by the Monetary Policy Committee (MPC) was necessary to reduce inflationary pressure and sustain current economic recovery drive. They made the observation in separate interviews with the News Agency of Nigeria (NAN) in Lagos while reacting to the outcome of the Monetary Policy……

FAAC: Federation revenue falls by 36bn in February

The Federation Account Allocation Committee (FAAC) on Tuesday shared N429.1 billion, about N36 billion less than what the three tiers of government shared as revenue for January. The Minister of Finance, Mrs Kemi Adeosun, told newsmen in Abuja that the N429.1 billion was distributed under four distributable sub-heads. “The distributable revenue for the month is……

ABUJA: FCT Minister Allocate Shop to a Physically Challenged Trader

The FCT Minister, Malam Muhammad Musa Bello, has directed the Ag. Secretary of the FCT Social Development Secretariat to immediately allocate a shop to a physically challenged trader at the Cyprian Ekwensi Centre, Area 10, Garki Abuja.   The physically challenged trader was displaced by the demolition of illegal structures carried out recently by FCT…

Be on Site Within 30 Days or Face Prosecution – FG

Laolu Akande, Abuja: The Federal Government (FG) has issued a new set of directives in its bid to accelerate the implementation of the Buhari administration’s new vision for the development of the Niger Delta. Vice President Yemi Osinbajo, SAN, issued the directives at a recent meeting of the inter-ministerial working group following up on the…

Success Is By Hardwork Not By Miracles – VP Osinbajo

I am extremely pleased to be here this evening representing the President of the Federal Republic of Nigeria, President Muhammadu Buhari who would have been here. (Since the representative of the Minister of the Federal Capital Territory has given the key to Abuja, I have the permission to give the key to Nigeria so that…

Nigeria’s Economy climbs out of recession

Nigeria’s economy has climbed out of recession, according to world economics. World Economics is an organisation dedicated to producing financial analysis, insight and data relating to questions of key importance to the world economy. Information on its website reads; “March Sales Managers’ Index (SMI) data suggests that the Nigerian economy is starting to grow out…

Keep Faith, President Buhari ‘ll Take Us To Promised Land – Adesina

Presidential Spokespersons, Femi Adesina Says PMB ‘ll Take Nigeria To Promised Land Attah Esa, Abuja; President Muhammadu Buhari is fulfilling his campaign promises to Nigerians, particularly in stimulating the economy for job creation, anti-corruption campaign and security of lives and property. Addressing a delegation of Northern Youths Initiative for Peace and Good Governance on Tuesday…

Emefiele Chairs IILM Governing Board

The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has been elected as the chairman of the International Islamic Liquidity Management Corporation (IILM) on Thursday, December 15, 2016 in Jakarta, Indonesia. In a press release, the CBN’s Acting Director, Corporate Communications, Mr. Isaac Okorafor says that by this development, Mr. Emefiele is also the…

Why We Created the Anchor Borrowers’ Programme – Emefiele

Why we created the ABP – Emefiele” /> The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, had given reasons behind the Bank’s Anchor Borrowers’ Programme (ABP) initiative in the country, saying the ABP was meant to complement other agricultural programmes.   Speaking in Jibia, Katsina State, on Thursday, December 29, 2106, at the…

Expression of Interest for Bitumen to Commence by June- Fayemi

Expression of interest by prospective investors in the country’s bitumen project would commence within the next three months, the Minister of Mines and Steel development, Dr Kayode Fayemi has disclosed. Speaking in Abeokuta, Ogun state Capital during his tour of mining sites in the state at the weekend, Dr Fayemi said government was working with…

Kebbi Govt. Targets N14bn Internally Generated Revenue (IGR) in 2017

The Kebbi State Government says Tuesday that it has worked out measure to achieve a N14 billion Internally Generated Revenue (IGR) in 2017. The state Commissioner for Budget and Economic Planning, Alhaji Zailani Muhammad, stated this at an interactive session with officials of the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) in Birnin Kebbi.  …

Minister of Finance Adeosun Clarifies on Paris Club Refunds To State Government

Festus Akanbi, Abuja: The Minister of Finance has deemed it necessary to address the issue of Paris Club Refunds and wishes to assure the public that the Federal Government has consistently complied with all extant rules and regulations in the disbursement of the Paris Club refunds to State Governments. The Federal Government’s disbursement process is…

Let’s Partner For Progress – NIMASA Urges Nigerians

Dakuku Peterside Seeks Global Maritime Leadership for the Nation The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside has urged Nigerians to partner with the Agency to ensure a virile maritime industry as the activities of the Agency impact on the lives of all Nigerians. This is given the…

NIMASA 2017 Budget Targets Strategic Growth of Maritime Industry – Dakuku

To position NIMASA as African foremost maritime Agency The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has disclosed that the Agency’s 2017 budget is tailored towards the strategic growth and other developmental initiatives of the maritime sector. The DG who said this recently during the 2017 budget defence…

NNPC Announces New Measures to Ensure Robust Products Supply

The Nigerian National Petroleum Corporation has in stock, a robust inland supply of over 1.2 billion litres of petrol sufficient for more than 34 days forward consumption. The Corporation’s product supply outlook for March to May, 2017, shows that steps have been taken to ensure adequate supply of diesel and aviation fuel. For Automotive Gas…

FG Will Protect, Reward Whistle-blowers – Minister

The Federal Government will protect and reward whistle-blowers who provide information that leads to the recovery of stolen funds or assets, the Minister of Information and Culture, Alhaji Lai Mohammed, has reiterated. In a statement issued in Lagos on Sunday, the Minister said the Federal Government will protect the identity of all whistle-blowers, whether in…

Recession: expert calls for effective implementation of ERGP

An economist, Prof. Akpan Hogan-Ekpo, has called on the Federal Government to implement the Economic Recovery and Growth Plan (ERGP) effectively. Hogan-Ekpo, the Director General, West African Institute for Financial and Economic Management (WAIFEM) in Lagos, made the call while delivering a convocation lecture at Bayero University Kano on Friday. The title of the lecture……

Resource efficiency can inject $2trn into global economy – UNEP

The UN Environment Programme (UNEP) says it has found that smarter and more efficient use of the world’s natural resources can inject two trillion dollars into the global economy by 2050, calling it an “environmental win-win’. Erik Solheim, Head of UNEP, citing new research from the International Resource Panel, said efficient resource use would also……

President Buhari Wants A Much Better Deal For Niger Deltans – VP Prof. Osinbajo

Laolu Akande, Abuja: While past leadership and governance failures explain the worrying conditions of Nigerians in the oil-producing communities, the people still deserve a fair deal, according to the Vice President Yemi Osinbajo, SAN. Prof. Osinbajo said this was the position of President Muhammadu Buhari and it is the reason the administration is now advocating…

NEITI Embraces Open Data Procurement Process

The Nigeria Extractive Industries Transparency Initiative (NEITI) is set to establish an Open Contracting Data Standard platform for procurement of goods and services. The online platform is to provide comprehensive public information and disclosure on all procurement opportunities and contracting information by NEITI to the general public. This decision by NEITI is consistent with President…

Ben Murray-Bruce Urges Federal Government To Increase Minimum Wage

Nigerian business magnate and politician under the People’s Democratic Party representing the Bayelsa East constituency, Ben Murray-Bruce has taken to twitter to appeal to the government to increase the minimum wage as it would help reduce corruption in the country. Some Nigerians are in support and think the founder of Silverbird Group might have a point in this case. Here…

News Summary 17/03/2017; Ex-Cultists Renounce Old Ways

Arrested Cultists Fifty eight ex-cultists from various institutions of higher learning in Kogi State have renounced their involvement in the act with a pledge to assist security agencies in the fight against cultism. They made their position known at the inauguration of the Kogi State chapter of the Nigerian Police Force Campus Cult Eradication Foundation…

Aero Contractors Enters Redundancy Fires 900 Staff

Adekunle Williams, Solomon Asowata(NAN): Aero Contractors Airline, which is under the management of the Asset Management Corporation of Nigeria (AMCON), has sacked about 900 workers representing 60 per cent. Letters of redundancy were issued to the affected employees during the week. Media Consultant to the 58-year-old airline, Mr Simon Tumba, who confirmed the development in…

Mining: Local Operators to Benefit from Intervention Fund

      The Minister of Mines and Steel Development, Dr Kayode Fayemi has said that the ministry would commit part of the N30 billion Mining Intervention Fund to support local operators in the country in a bid to assist them scale up their operations and bridge importation gap. The Minister stated this on Tuesday…

Mines & Steel Development: FG, States to Partner to Scale Up Mining Activities

  Dr. Kayode Fayemi            Minister Solid Minerals Development Mining activities in the country are to witness a boost through value addition and greater level of involvement by state governments. The Minister of Mines and steel Development, Dr. Kayode Fayemi, disclosed this at the Government House, Kaduna, during a courtesy visit…

Economist says inflation reduction good for Nigerians

Emeritus Professor of Economics, Uka Ezenwe, has described the reduction in the country inflation rate by 0.94 per cent as good news for Nigeria. Ezenwe told the News Agency of Nigeria (NAN) on Thursday in Abuja that reduction in prices of goods also would be another milestone for citizens. Cue in audio 1 “The fact……

Edo Govt taming migration via economic development

Edo State Governor, Godwin Obaseki On Taming Migration Governor Godwin Obaseki of Edo state says his administration will check the tide of migration through vocational training of youth to equip them with skills for gainful employment. Obaseki stated this when he received the Federal Commissioner, National Commission for Refugee, Migration and Internally Displaced Persons Hajiya…

NCDMB: How to Improve Local Content For Optimum Value Creation

Coming from an international oil company, many would expect that he will have bias for the segment. But the Nigerian Content Development and Monitoring Board (NCDMB) Executive Secretary/Chief Executive Officer (CEO), Mr. Simbi Wabote, has promised not to compromise on local content development matter. In this interview with Assistant Editor EMEKA UGWUANYI, Wabote unveils his…

House Of Reps Urges NNPC To Regularize Kerosene Supply

The House of Representatives has urged the Nigerian National Petroleum Corporation (NNPC) and other relevant agencies to urgently regularise the supply of kerosene nationwide in order to normalise its pump price. The House also mandated its Committee on Petroleum Resources (Downstream) to liaise with relevant agencies to inquire about the high cost of the product…

N-Power Update: 149,669 Nigerian Graduates of The 200,000 Engaged and More

At the last count, 149, 669 Nigerian graduates of the 200,000 engaged by the Federal Government under the N-Power Volunteer Corps are now collecting their monthly stipends of N30,000 monthly having been physically verified and deployed across the 36 states and FCT. The Federal Government has also approved an additional N4500/month to all the 200,000…

NSE LIVE! Equities rally N52b gain amidst bargain-hunting

Nigerian equities broke into a major rally on Tuesday as investors upped demand for value stocks across major sectors of the economy. With nearly two advancers to a decliner, investors showed more appetite for quoted equities with turnover volume and value rising by 68 per cent and 36 per cent respectively. Aggregate market value of…

Economic Recovery Plan: Union urges FG to involve small-scale businesses

The National Union of Textile Garment and Tailoring Workers of Nigeria (NUTGTWN), has urged the Federal Government to involve small-scale businesses in driving its new Economic Recovery and Growth Plan (ERGP). The union’s General Secretary, Mr Isah Aremu, made the call at the inauguration of the Abuja branch of the Union on Tuesday in Abuja.……

FG to Make Coal Sites Available to Serious Power Companies

  Dr. Kayode FayemiMinister of Solid Minerals Development At A Function on Solid Minerals Determined to improve power generation in the country, the Federal Government is set to make coal sites available to serious- minded power companies operating in the country. The Minister of Mines and Steel Development, Dr Kayode Fayemi, stated this in Tarfa,…

Ajaokuta to Function as a Private Entity – FG

    The Ajaokuta Steel Company is to function as a purely private entity, the Minister of Mines and Steel Development, Dr Kayode Fayemi, reiterated this position on the steel complex on Monday during a facility tour of Abuja Steel Mill, a subsidiary of African Steel Company, along Abuja-Kaduna Road. Dr. Fayemi who stated that…

Happy Days Creeping In As Inflation Rate Drops

Happy days are creeping into Nigeria once again as  inflation rate bucked the trend in February to fall to 17.78 percent. It is the lowest level in 15 months and  driven by a slower rise in general price levels, the National Bureau of Statistics said on Tuesday. Inflation had risen to 18.72 percent in January,…

Massive investment in SMEs will lead to economic recovery – LG boss

Mrs Bolaji Ibiyeye-Adisa, the Chairperson, Offa Local Government Area, Kwara says embarking on massive investment on entrepreneurship development to promote Small Scale Enterprises (SMEs) will help to transform the nation’s economy. Mrs Bolaji Ibiyeye-Adisa, the Chairperson, Ibiyeye-Adisa told the News Agency of Nigeria (NAN) in Offa, Kwara on Monday that there was the urgent for……

FOREX: Banks seek customers to buy surplus foreign currencies

Banks are seeking customers to buy surplus foreign currencies they hold following the flooding of the banks with dollars by the Central Bank of Nigeria (CBN). In an effort to support and shore-up the value of Naira, CBN resolved to flood commercial banks with dollars. The banks are reported to be holding excess forex and…

Nigeria’s FOREX Reserves Hit $30b

NAN: Nigeria’s foreign exchange (FOREX) reserves rose above $30 billion as of March 8 to its highest level since October 2015, central bank data showed on Friday. Nigeria’s dollar reserves have increased by 15.02 percent since the start of the year, data showed, but were far off their peak of $64 billion hit in August 2008….

Nigeria’s GDP has dropped by half under Buhari – Soludo

Former Central Bank of Nigeria governor, Chukwuma Soludo, has again spoken on the current state of the Nigerian economy. In his assessment on Friday, the economics Professor said the Gross Domestic Product, GDP, size had dropped by half in dollar terms in less than two years of the present administration. From about $575 billion in……

Good governance key to Nigeria’s socio-economic development, says Obasanjo

A former Nigeria’s President, Chief Olusegun Obasanjo, said on Saturday in Lagos that good governance was imperative for the socio-economic growth of the country. Obasanjo said this at the Pro. Gabriel Fakeye Memorial Lecture entitled, “The Challenge of Good Governance, National Stability and Development” at Cherubim and Seraphim Movement Church, Ayo Ni O. He said……

President Buhari Inherited Bad Economy, Soludo Says

Professor Charles Soludo, a former Governor of the Central Bank of Nigeria (CBN), has said that the present government inherited a bad economy. “To be fair, this government inherited a bad economy,” Soludo said at an economic talk shop, organised by the Vanguard newspapers. “The previous government had an unprecedented rate of debt accumulation, even…

We Must Do More To Educate Our Children ~ President Buhari

President Buhari On The Need To Educate Children Femi Adesina, Abuja; President Muhammadu Buhari Friday in Abuja called for more concerted effort in ensuring that all Nigerian children get good education in order to be relevant in a world driven by new technology. Also Read; President Buhari’s Address To Nigerians On Arrival In Abuja Speaking to…

ABUJA: FCTA To Boost Industrialization, Entrepreneurship

  The FCT Administration will promote actions that would bring in genuine industries and create entrepreneurships across the Federal Capital Territory. The FCT Minister, Malam Muhammad Musa Bello stated this while receiving the Musiad Group of Turkey, Nigeria Chapter led by its President, Mr. Huseyin Oztunc that paid him a visit in his office at…