Economy

Can Nigeria become a top middle-income economy by 2050?

May 5, 2023 Abdullahi M. Gulloma 0

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

Where are the new naira notes?

May 2, 2023 Jerry Uwa 0

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

Kashifu Abdullahi: Boosting the nation’s digital economy

April 28, 2023 Bashir Ibrahim Hassan 0

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

NAF establishes operational base in Ekiti

April 7, 2023 Ojo Oladele 0

  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’s economy growing through agribusiness – Akande

March 19, 2023 Admin III 0

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

The hurdles before the in-coming administration

March 17, 2023 Admin III 0

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

State of economy: Policy reforms inevitable, options limited – Rewane

February 23, 2023 Blessing Anaro 0

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

Economy may lose $18m monthly to naira redesign policy – Rewane

February 16, 2023 Blessing Anaro 0

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

Kano: Imbibe business skills for robust economy, NDE tells BBT beneficiaries

February 10, 2023 Bashir Mohammed 0

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

2023: Youth league hails SIP success in Kwara  

December 14, 2022 Umar Bayo Abdulwahab 0

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

NOTAP certifies 19 researchers

December 1, 2022 Binta Shama 0

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

APCON to sanction members over publication of ‘injurious’ information

November 30, 2022 Paul Okah 0

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

Redesign of ₦‎1000, ₦‎500, ₦‎200 banknotes not targeted at politicians – Emefiele 

November 27, 2022 Admin III 0

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

Spurious claims on the rise as economy bites – Insurers

August 18, 2022 Admin III 0

Insurance companies have said some of the people insured, hit by economic hardship, occasioned by rising inflation and falling incomes, are resorting to making spurious claims. The insurers said they have seen in recent times false claims from customers wanting to take advantage of their loss situation to better their condition. According to the insurers, this is common in motor Read More

Nigeria Customs Modernisation Project targets $176bn revenue through Customs partnership

June 3, 2022 Bode Olagoke 0

Following the concession agreement of the Nigeria Customs Service Modernisation Project, Trade Modernization Project Limited has assured that the $176 billion revenue target would be met and surpassed. The $3.2bn investment is set to help achieve the diversification of Nigeria’s economy and development of the non-oil sector, which is close to the heart of President Muhammadu Buhari. The agreement was signed on Read More

Defending interest of Nigerians

March 10, 2022 Abdullahi M. Gulloma 0

As Nigeria commendably begins the evacuation of its citizens from war-torn Ukraine, President Muhammadu Buhari has said that his administration will not relent in its duty to defend the interest of Nigerians, wherever they may be. It would be recalled that thousands of foreigners, especially students, are trapped by the ongoing war between Russia and Ukraine. In some cases, foreigners Read More

Towards a strong economic base for Nasarawa state

March 10, 2022 Admin III 0

Governor Abdullahi Sule of Nasarawa state promised to revitalise the economy of the state on assuming power. So far, he has attracted an estimated $500m investment into the state. MOHAMMED YANGIDA reports. In achieving investment drive for Nasarawa state, Governor Abdullahi Sule has established Nasarawa Investment and Development Agency (NASIDA) with Barr. Ibrahim Abdullahi as its managing director/chief executive officer Read More

Stakeholders gather for FirstBank’s 2022 economic outlook webinar

January 12, 2022 Amaka Ifeakandu 0

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider has announced its “Nigerian Economic Outlook Webinar” convened to reflect national and global economic trends that shaped 2021, whilst forecasting the economic outlook of 2022.  The virtual event themed “A rearview look at 2021, lessons learnt-Outlook 2022” is scheduled to hold on Thursday, 13th January 2022 through Read More

Onyeagwu advocates diaspora direct investment for sustainable economic growth, devt

November 16, 2021 Admin III 0

The Group Managing Director/Chief Executive of Zenith Bank, Ebenezer Onyeagwu, has called for increased collaboration of Nigerians in the diaspora for the nation to achieve its economic growth targets. He made the call during the 4th Edition of the Nigeria Diaspora Investment Summit 2021 organised by the Nigerians in Diaspora Commission (NiDCOM) on Tuesday, November 16, 2021. The hybrid event Read More

Insecurity: Indigenous CSOs to stage mass protest against FCT Minister

November 6, 2021 Admin III 0

Indigenous Civil Society Organisation under the auspices of Abuja Grassroots Advocacy Projects (AGAP) has concluded plans to stage a mass protest in the Federal Capital Territory (FCT) on Monday over what they described as gross failure of the FCT Minister, Malam Muhammad Musa Bello. Comrade Yunusa Ahmadu Yusuf, Coordinator of the group, who made this known Saturday said that they Read More

Obaseki’s incentives for industrial sector to drive productivity – Aide

November 5, 2021 Patrick Ahanor, 0

The Special Adviser on Media projects to Governor Goodwin Obaseki of Edo state, Mr. Crusoe Osagie, has said the state government’s support for manufacturing and industrial sector was to ensure the provision of the right incentives to drive productivity. This was just as he stated that the state is more positioned to becoming a business destination haven; following “the expanding CCETC- Ossiomo Independent Power Read More