The appeal by President Bola Ahmed Tinubu to the European Union to support Nigeria and other African countries to strengthen security and achieve economic development to reduce poverty could not have come at better time. The call is quite timely and germane, considering the removal of subsidy on petroleum products in Nigeria, which has exacerbated the hardship in the country Read More
Recently, the Nigerian President, Bola Tinubu, on his second state of the nation address, said the country is battling with the short-term economic hardship resulting from subsidy removal and exchange rate harmonisation. No doubt, the economy of the nation has suffered from shocks and other financial slides that require urgent attention. For instance, the President of the Lagos Chamber of Read More
A new entrant into the financial services space, Kabimya Finance Company Ltd. (KFCL), has expressed its willingness to support Small and Medium Enterprises in Nigeria. KFCL Chairman, Dr. Emmanuel Ozigi, who stated this at a press briefing to officially flag-off its business operations Tuesday in Abuja, added that the company will leverage on its extensive experience and track record in Read More
Pan-African credit rating agency, Agusto & Co, has revealed that remittances from the diaspora continue to play an increasingly essential role in Nigeria’s economy, serving as an important source of foreign exchange earnings and a catalyst for economic growth and development. Statistics show that Nigeria came second, behind Egypt in Africa, attracting $20.1 billion in 2021 as against Egypt’s $28.3 Read More
The Mexico Ambassador to Nigeria, His Excellency, Alfredo Miranda, has restated the economic, social and cultural importance of the annual International Food Fair. He said if sustained it was capable of enhancing both economic and diplomatic ties among participating countries. International Food Fair is an event organised to showcase foods, beverages, clothings, crafts among others for the diplomatic community and Read More
Aideloje Ojo Niger state is set to host the National Green Economy Summit scheduled to be held from October 24-25, 2023. The Secretary to the Niger State Government (SSG), Alhaji Abubakar Usman, stated this in a statement issued in Minna Thursday. The statement read in part, “The Executive Governor of Niger state, Mohammed Umar Bago, while recognising the potential for Read More
High interest rate by central banks across the world, including China’s slow economic growth is depressing the oil market despite production cut by the Organization of Petroleum Exporting Countries (OPEC). As it is oil traders’ concerns have shifted from under-supply to over-supply, the futures contract structure of the global benchmark Brent showed on Wednesday, as expectations of weak economic growth Read More
The Nigerian economy has a bad attitude. I am sure you know that by now. This attitude borders on pure hostility and an unholy determination to defeat every effort by our leaders to tame it and free the nation and its people from the ever-present danger of our descent into poverty. Nigeria was instantly faced with serious new challenges in Read More
Stakeholders in the insurance industry would be converging in Lagos to review role of insurance in driving economic growth and development and also set a path for the new administration to promote insurance business. The 8th Edition of the Nigerian Association of Insurance And Pension Editors (NAIPE) Annual National Conference is providing operators with that platform to appraise the level Read More
The Securities and Exchange Commission (SEC) has said that Nigeria has various commodities that could be exported in a bid to grow the economy, provide jobs for Nigerians as well as provide the nation with foreign Exchange. Director General of the SEC, Mr. Lamido Yuguda who stated this in Lagos while speaking to journalists said that the agricultural sector in Read More
Nigeria is a multi-ethnic and culturally diverse federation of 36 autonomous states and the Federal Capital Territory (FCT). Presently a lower middle-income and Africa’s largest economy and most populous country, Nigeria faces daunting development challenges. In spite of being the economic powerhouse of Africa, Nigeria has pockets of systemic and structural socio-economic vulnerabilities which require the fostering of economy-wide productive Read More
Nigeria’s economy is still writhing from the pains inflicted on it by the decision of the Central Bank of Nigeria (CBN) to redesign the naira. It will take several months for the economy to recover fully from the excruciating pains of the naira redesign scheme. The World Bank, International Monetary Fund (IMF) and even the United Nations have blamed the Read More
Fitch Solutions, the research arm of the credit rating agency, Fitch Ratings has predicted that the cash shortage in the first quarter of this year will adversely affect economic growth. it said Nigeria’s economy will grow by only 2.3 per cent this year, down from 3.1 per cent in 2022. Fitch stated this in its Africa Monthly Outlook report released Read More
It’s not often that President Muhammadu Buhari goes out of his way to defend his decisions on appointments or re-appointments. However, he made an exception to his rule recently when he said a few words about Kashifu Inuwa Abdullahi, the Director General/CEO, National Information Technology Development Agency (NITDA). In the process, he not only shared the objective criteria he considers Read More
Determined to extend the efforts being geared towards tackling insecurity challenges in the country, the Nigerian Air Force (NAF) has established its operatinal base in Ekiti state. The Chief of the Air Staff, Air Marshall Oladayo Amao, stated this Thursday in his remarks at the ground breaking ceremony of the Nigerian Air Force Base in Ekiti state. The proposed Read More
Oyo State Agribusiness Development Agency (OYSADA) is working assiduously towards turning around agribusiness in the state. In an interview with BAYO AGBOOLA, the director general of the agency who also doubles as Governor Seyi Makinde’s senior special assistant on Agribusiness, Dr Debo Akande, says efforts are on to expand the economy of the state through agriculture. How can you assess Read More
With the Nigerian economy on a cliff hanger, many have noted that the task before the in-coming president is enormous, especially with mounting debts and debt service, high inflation and low investments among others; BENJAMIN UMUTEME writes. That the state of Nigeria’s economy is worrying is no longer news. However, what many Nigerians would be eager to hear is what Read More
Policy reforms have become inevitable following predicted political unrest stemming from high-tensioned elections. Bismarck Rewane, Chief Executive Officer (CEO) of Financial Derivatives Company (FDC) Lmited is worried that, unless there are reforms, it might the case of ” tepid growth, limited fiscal headroom, a misaligned currency, spiralling inflation, and macroeconomic imbalances”. He summed it up with another warning that, “the Read More
Because cash accounts for over 70 per cent of trading transactions in Nigeria, the naira redesign policy may result in the country’s Gross Domestic Product (GDP) losing $18 million every month, the Chief Executive Officer of the Financial Derivatives Company, Bismarck Rewane, has said. Rewane, during a presentation at the Lagos Business School, that, “the loss is due to cash Read More
The Director General National Directorate of Employment (NDE), Malam Abubakar Nuhu Fikpo has called on 65 Basic Business Training (BBT) beneficiaries to rise to the challenge of embracing business management skills for a sound and robust economic growth. Speaking at a ceremony of Basic Business Training (BBT) held at the Directorate’s state office in Kano, Tuesday, Fikpo stated that most Read More
League of Kwara Youths Movement Wednesday applauded the Social Investment Programme (SIP) of Governor AbdulRahman AbdulRazaq’s administration, describing it as the most expressive and credible programme. The group warned youths in the state not to give saboteurs a chance to operate ahead of the 2023 general elections so as not to rob them of the benefits of the administration. Addressing a world Read More
The National Office for Technology Acquisition and Promotion (NOTAP), Thursday, in Abuja, presented patent certificates to 19 researchers across Nigeria. The Minister of Science, Technology and Innovation, Dr Adeleke Mamora, who presented the certificates to the beneficiaries, described the event as a boost to research, industrialisation and development in the country. He praised NOTAP for delivering on its mandate by Read More
The Director General of the Advertising Practitioners Council of Nigeria (APCON), Dr Olalekan Fadolapo, has said the council will from December 5 commence enforcement of sanctions against members that permit the publication of harmful and injurious information to the public. Addressing journalists Wednesday in Abuja, during the National Advertising Conference, Fadolapo said the council is repositioning in order to combat Read More
The Governor of the Central Bank of Nigeria (CBN) Mr Godwin Emefiele spoke to State House correspondents on the redesigned banknotes unveiled by President Muhammadu Buhari. Our correspondent, ABDULLAHI M. GULLOMA, presents an abridged version of the interactive sessions. What informed the decision of the Central Bank of Nigeria to redesign some banknotes at this critical time? The practice worldwide Read More
How do you show you’re happy? If you’re a cat, you purr. If you’re a dog, you wag your tail. And if you’re a rabbit, you bust out your best binky moves. You read that right — binky. When rabbits are happy, they do this crazy kind of move called a binky. Each bunny has its own binky style, but Read More
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