News - Business and Economy

Osinbajo On Africa's Economic Transformation

5 days ago /

Vice President Yemi Osinbajo says Africa's economic transformation is currently being driven by ambitious businessmen and women who are stepping beyond national borders and going global. Professor Osinbajo said this at the inaugural Africa Rising lecture of the Harvard University business school in Cambridge Massachusetts, U.S.A. on Tuesday. The Vice President spoke...

Oil Propels Nigerian Shares To 9-Year Peak

5 days ago /

After shying away from Nigeria following the 2014 oil crash, investors started taking interest in the country again last year when the central bank introduced a special trading window for foreign portfolio investors. The banking and pension sectors were the top-performing indexes of 2017, according to the Nigerian Stock Exchange...

Cross River State Set To Commence Banana Export – Governor Ayade

1 week ago /

As part of a strategy aimed at turning the state's economy around, cross river governor, prof. Ben Ayade says  the state will soon commence the export of its 'grand nain' species of banana. The governor stated this when he paid an unscheduled visit to ascertain the status of crops in the...

Osinbajo Says MSME Is New Business Direction In Nigeria

1 month ago /

Vice President Yemi Osinbajo says there is a new orientation on how to grow business in Nigeria. Speaking at a meeting convened to review the implementation of the micro small and medium enterprises clinic in the out-going year, Professor Osinbajo congratulated the implementing agencies for quality service delivery. The review session was...

Angola, Nigeria To Strengthen Relations

1 month ago /

The president of Angola, Joao Lorenco has promised to strengthen the existing relations between his country and Nigeria. President Lorenco gave the assurance at a colourful ceremony at the presidential villa in Luanda when the new Nigerian ambassador to Angola, Adesesan Olatunde presented his letters of credence to the president. Ambassador Olatunde, decked in...

Indonesia To Invest In Nigeria's Economy

1 month ago /

Indonesia ambassador to Nigeria, Harry Purwanto says his home government is ready to invest in Nigeria’s solid minerals and mining sub-sector. The Indonesian envoy said this during the signing of a memorandum of understanding, MOU between Nigeria and Indonesia owned mining corporation, P.T. Timah which is set to invest billions of...

Cross River To Organise Green Economy Summit In 2018

1 month ago /

The Cross River State Government has called on local,, regional and international stakeholders in climate change project  to support the state's quest to prevent the remaining fifty percent of the tropical rainforest in Nigeria to this end, the state is organising a global summit  on climate change and green economy...

NESREA Advocates Green Economy

1 month ago /

The Nigerian government says an inclusive green economy focused on ending widespread environmental and health risks is an alternative to the current environmental degradation. The director general, National Environmental Standards And Regulations Enforcement Agency (NESREA) Lawrence Anukam said this while briefing journalists on the forthcoming conference of key players in environmental...

Hungary Eyes Nigerian Crude Oil, LNG

1 month ago /

The Hungarian Government has indicated interest to purchase crude oil and Liquefied Natural Gas (LNG) from Nigeria. The Hungarian Ambassador to Nigeria, Professor Gabor Ternak, disclosed this on Tuesday during a visit to the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, in Abuja. In a statement...

Al-Makura Presents N122bn 2018 Budget

1 month ago /

Nasarawa State Governor, Tanko Al-Makura, has presented the 2018 Appropriation Bill of N122,820,943,284 to the State House of Assembly. The bill, which is tagged ‘Budget of Sustainable Development’, has an increase of 34.25% which represents N31billion as against the 2017 budget which was N91billion. While presenting the budget on Wednesday, the governor scored...

Profit Taking: NSE Market Capitalisation Nosedives By N67 billion

2 months ago /

Transactions on the nation’s bourse ended on a downward trend on Tuesday with major blue chips posting price losses. The News Agency of Nigeria reports that the Nigerian Stock Exchange market capitalization due to profit taking dropped by N67 billion or 0.52 percent to close at N12.738 trillion against N12.805 trillion...

NNPC Completes 539km Of Gas Pipeline Projects

2 months ago /

The Nigerian National Petroleum Corporation (NNPC) says it has completed, commissioned and delivered 500 kilometers (km) of gas pipelines between 2010 to date. The Group Managing Director of the NNPC, Dr Maikanti Baru, said this on Tuesday in Abuja in a statement by Mr Ndu Ughamadu, the corporation’s Group General Manager...

Nigeria’s Economy Grows By 1.4% In Third Quarter

2 months ago /

Nigeria’s economy continued its recovery from recession, rising 1.4 percent in the third quarter of this year on increased oil production, official data showed Monday. The National Bureau of Statistics (NBS) said it was the second quarter of consecutive growth since the country emerged from recession. “This growth is 3.74 percentage points...

CBN Expands Anchor Borrowers’ Programme, Releases N45bn

2 months ago /

The Central Bank of Nigeria says it has formed strategic partnerships with Agricultural Commodity Associations in the country in its effort to expand the implementation of the Anchor Borrowers’ Programme. The Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okorafor, said in a statement that the decision to enter into strategic...

Nigeria Not An Oil Economy, Says Adeosun

2 months ago /

The Minister of Finance, Mrs Kemi Adeosun, has set the records straight regarding Nigeria’s status as an oil producing economy. Mrs Adeosun, in an article titled: ‘All Change, Nigeria Is Not An Oil Economy”, said the country does not fit into such description and it would be wrong to categorise it...

Nigeria Explores Partnerships With China For SMEs Development

2 months ago /

The Nigerian government says it will continue to take steps that will further open the international market to products made in the country by Micro, Small and Medium Enterprises, MSME’s. The director general of the small and medium enterprises development agencies of Nigeria, SMEDAN, Dukko Radda who led twenty-six Nigerian entrepreneurs...

IMF Asks Govt To Eliminate Tax Holidays

2 months ago /

The International Monetary Fund (IMF) has asked government to implement a reform to phase out tax holidays and increase taxes imposed on tobacco and alcohol. The IMF resident representative in Nigeria, Mr Amine Mati, said this at a forum in Lagos at the weekend. Mati is also seeking the reduction of interest...

U.S. Companies Set To Invest In Nigeria

2 months ago /

President of the US-Africa business centre of the United States chamber of commerce, Scott Eisner says the economic and investment policy of the present administration has given confidence to American companies to invest in Nigeria. Fielding questions from state house correspondents after leading a delegation on a courtesy visit to Vice...

Nigeria Agriculture: Ministry Wants Laws To Export Yams, Goat Carcasses

3 months ago /

…Blames poor budget implementation on Procurement Act.

Nigerians Need To Be More Committed To Tax Payment - Minister Of State For Labour

3 months ago /

The minister of state for Labour, Professor Stephen Ocheni says Nigerians need to be more committed to tax payment to increase government’s revenue to finance infrastructure project. The minister was speaking when he played host to members of the chattered institute of taxation on Nigeria. Professor Ocheni said the campaign for tax...


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