The World Bank has ranked Nigeria in fourth position among West African countries in its Global Trade Logistics Performance Index (LPI) for 2016. Leading the pack of success for the sub-region was Cote D’Ivoire, with Senegal coming second, while Sao Tome came third. Though Nigeria left Ghana to the fifth position, it is still seen…
Tag: Business
Made-in-Aba products: Gov Ikpeazu takes campaign to China
Governor Okezie Ikpeazu of Abia State has taken the promotion of made-in-Aba products to Guangzhou, China, to draw in investors. The governor, according to a statement issued in Umuahia on Friday by his Chief Press Secretary, Enyinnaya Appolos, gave the assurance during his presentation on the investment potentials in Abia State, at the first Nigeria-China…
Forex stability: financial experts’ predict further drop in inflation rate
Some financial experts on Friday expressed optimism that the nation’s inflation figure would continue to slowdown with enhanced stability in the foreign exchange market. They said this in an interview with the News Agency of Nigeria (NAN) in Lagos while reacting to March inflation figure. The experts said that the inflation figure would continue to……
Why Nigeria spends $170m yearly to import tomatoes
The revelation by the Minster of Industry, Trade and Investment, Okechukwu Enelamah, that Nigeria’s Federal Government alone spends over $170 million yearly to import tomatoes has drawn negative reactions from both the farmers and other sectors. Enelamah, at a media chat in his office recently stated: “Nigeria imports an average of 150,000 metric tons of…
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…
NSE LIVE! Equities sustain modest rally with N5bn gain
Nigerian equities continued on the uptrend on Thursday, sustaining a two-day rally that has seen average net daily capital gain at about N5.5 billion. Against the background of net capital gain of N6 billion on Wednesday, equities rallied a modest gain of N5 billion on Thursday. With 18 gainers to 11 losers, aggregate market value…
After N11bn PMS with Ifeanyi Ubah, MRS goes missing NNPC sacks 3 directors
Few weeks after the Nigerian National Petroleum Corporation (NNPC) announced measures to achieve full recovery of over 130million litres of premium motor spirit (PMS) worth N11billion from Capital Oil & Gas Limited, it has sacked three of its directors and deployed four others. While the reason for sending the directors on compulsory leave was not…
Aliko Dangote, Africa’s Richest Man, Writes For YouWiN!Connect
Aliko Dangote, Africa’s Richest Man Africa’s richest man and President/Chief Executive Officer (CEO) of Dangote Group, Alhaji Aliko Dangote, will write an article in the next edition of YouWiN!Connect, which will be published in five newspapers. The article, which will focus on “Starting Small”, will be published in PUNCH and Vanguard on Sunday; and in…
Inflation drops by 0.52 % in March
The National Bureau of Statistics on Thursday, revealed that inflation dropped by 0.52 percent in March, the second decline recorded on the year- on- year basis. The first time inflation decline was in February when inflation dropped by 0.94 per cent. In its latest Consumer Price Index for March released in Abuja, the bureau stated…
Nigeria’s economic growth under Goodluck Jonathan was fake – World Bank consultant, Ajakaiye
The President of Nigeria Economic Society and a World Bank consultant, Olu Ajakaiye, has described the economic growth recorded during the administration of former President, Goodluck Jonathan as fake. Ajakaiye, while delivering a Keynote address at the 2017 edition of The Bullion Lecture organised by the Centre for Financial Journalism yesterday, explained that the economic…
FOREX: Senate unravels alleged N30tn fraud by banks
The Senate, on Wednesday, declared that over N30 trillion has been round tripped by virtually all the commercial banks in the country from 2006 till date in their management of foreign exchange earnings for importers. This disclosure was made by the Chairman, Senate Committee on Customs, Excise and Tariffs, Senator Hope Uzodinma, after an investigative…
NSE LIVE! Equities in marginal recovery with N6bn gain
After three successive negative trading sessions, Nigerian equities staged a rebound on Wednesday as bargain-hunters returned to take advantage of low share prices. The market situation however remained tight, with 18 gainers against 17 losers. Aggregate market value of all quoted companies on the Nigerian Stock Exchange (NSE) inched up by N6 billion from its…