By CALLISTUS OFFOR, Abuja – Minister of Communications and Digital Economy, Professor Isa Ali Ibrahim (Pantami) is excited over the remarkable contribution of the Information and Communications Technology (ICT) sector to Nigeria’s Gross Domestic Product (GDP) in the second quarter of 2022 (Q2 2022). The National Bureau of Statistics...
Nigeria Economy
The Director of Trade and Exchange Department, Central Bank of Nigeria (CBN), Dr Ozoemena Nnaji, says there is urgent need to diversify the Nigerian economy to spur growth. Nnaji made the call on Saturday, at the 33rd Seminar for Finance Correspondents and Business Editors in Abuja. She said that...
Miss Agriculture Nigeria, Miss Eucharia Odida, has said that if 60 per cent of youths in the country venture into agriculture, the unemployment challenge in the country would be reduced drastically. Odida, who spoke in an interview with the News Agency of Nigeria (NAN) on Sunday in Calabar, said...
The Federal Government of Nigeria has revealed that it will make provision for subsidy in 2023 to the tune of N6.72 trillion. Minister of Finance Budget and National Planning, Mrs Zainab Ahmed made this disclosure in Abuja on Thursday during the 2023 – 2025 Medium Term Expenditure Framework and...
The global community is presently in agreement that just as an unchained torrent of water submerges whole country sides and devastates crops, even so, lack of strong will, unclear policy direction as well as government’s inability to create substantial innovative fiscal space serves but to destroy the nation’s education...
Introduction Between 23rd and 24th May 2022, the Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) met and one of the key decisions taken by the MPC was to retain the Monetary Policy Rate (MPR) at 13.0%. The MPR is the rate at which the CBN lends to...
CLAIM: A photo-montage with text, reading “I have invested $1.6 billion in Nigerian economy with no result – Bill Gates” is being circulated on WhatsApp, a free messaging and video calling app. This claim has been generating a hot political debate among various WhatsApp groups, with some users attributing...
Introduction The rule of law is defined as the mechanism, process, institution, practice, or norm that supports the equality of all citizens before the law, secures a nonarbitrary form of government, and more generally prevents the arbitrary use of power (Britannica). Two important key phrases can be surmised from...
Bauchi State Governor, Sen. Bala Mohammed says Nigeria has the potential to become the world’s biggest economy if properly developed. Governor Mohammed who has made his intention to contest for president on the platform of People’s Democratic Party (PDP), said this in Jos on Saturday while soliciting for the...
By EDDY OCHIGBO Kaduna – Lack of efficient and prudent treasury management in the country have been identified as the source of fraud and sharp practices in nation’s public and private sector. Dropping the hint during a breakfast meeting with correspondents in Kaduna during the week, the Registrar and...
International Monetary Fund (IMF) says the Nigerian economy is recovering from a historic downturn benefiting from government policy support, rising oil prices and international financial assistance. IMF disclosed this in a statement issued from its headquarters in Washington D.C. on Monday. The organisation said Nigeria exited the recession in...
Over a hundred years since banks came into Nigeria, services rendered to small and medium scale businesses were limited to core banking services and transactions. However, those that cared to look further were able to stand the test of time, reinventing themselves with cutting edge financial services that remain...
By JOY ADARA, Abuja – On a note that signals a momentous year for the Commission, the Nigerian Communications Commission (NCC), has already put two awards in its kitty, as it receives The REGULATOR OF THE YEAR Award for 2021. Its Executive Vice Chairman and Chief Executive Officer (EVC/CEO),...
The Managing Director, Coleman Wires and Cables, Mr George Onafowokan, says fuel subsidy removal will impact positively on the business environment and as well stabilise the country’s economy. Onafowokan made the assertion at a news conference on Saturday in reaction to the proposal by the Federal Government to remove...
A fine artist, Ms Nisi Ogulu, says arts and creativity can contribute significantly to the nation’s economy if Nigerian artists are given the enabling environment to operate. The 26-year-old Ogulu made these remarks at an art exhibition, which had as its theme, “Puzzle”, held on Sunday in Lagos. “I...
Popular Nollywood actress, Zainab Balogun-Nwachukwu, has expressed frustration concerning the harsh climate of Nigeria’s business environment. The Chief Daddy actress currently runs a hair salon, Wash and Go, with friend and TV presenter, Bolanle Olukanni. Balogun took to her Instagram stories on Tuesday to reveal the numerous problems that besieged...
By EZEKIEL OBI, Abuja – The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has partnered Google DigitalSkill, alongside MindtheGap, to train about 3,700 Nigerian youths on digital skills. According to a statement issued on Tuesday in Abuja by SEMDAN’s Information and Communications Department, said that the training...
Some capital market operators have listed events that will shape the stock market and the economy in 2022. Speaking with the News Agency of Nigeria (NAN) on Tuesday in Lagos, they said the market and the economy would be impacted by the Monetary Policy Committee, 2022 budget implementation, consumer...
The Centre for the Promotion of Private Enterprise, an economic think tank, has advised the Central Bank of Nigeria to review its ban on some of the over 40 items which the regulator has stopped importers from accessing foreign exchange to bring into the country. Economists at the centre...
The Nigeria Export Processing Zones Authority (NEPZA) has opposed some sections of the proposed Custom Service reform bill, saying that it will cripple Free Trade Zones in the country. A statement issued on Thursday in Abuja by Mr Martins Odeh, Head, Corporate Communications, NEPZA, said that giving the Customs...