The Federal Government’s effort to boost the Nigerian economy by maximising opportunities in the oil and gas sector through local content has materialised as the Industrial Park in Odukpani, Cross River State, is ready for business. This is being made possible with a pledge of $50m by the Federal...
Nigeria Economy
The Chairman of Ala Resort, Chief Wole Olanipekun, on Tuesday, said that the development of aerotropolis in Akure would reshape the economic landscape and fortunes of the South-West region and Nigeria in general. Olanipekun stated this at the signing of the Memorandum of Understanding (MoU) between the Federal Airport...
The Central Bank of Nigeria (CBN), says the Nigerian economy has maintained a positive growth trajectory for nine consecutive quarters, since exiting recession in 2020. The CBN Governor, Mr Godwin Emefiele, said this on Tuesday in Abuja, when he read the comminique issued at the end of the 290th...
Alhaji Ibrahim Ajia, the Peoples Democratic Party (PDP) candidate for Asa/Ilorin-West Federal constituency of Kwara, says the party will rescue the nation from economic woes. Ajia made the assertion on Friday in Ilorin on the sidelines of distribution of items worth millions of Naira for empowerment of youths from...
A lawmaker in Ondo state, Mr Sunday Olajide, has described as “choking’’ and pain inflicting the Central Bank of Nigeria (CBN) redesigned naira note policy introduced late last year. Olajide, a member of the Ondo State House of Assembly, representing Akure South Constituency 2, in a statement made available...
Asiwaju Bola Tinubu, APC presidential candidate, says the Supreme Court ruling on the implication of Central Bank of Nigeria (CBN) re-designed naira notes and cashless policy has saved Nigeria from political and economic shutdown. Tinubu in a statement issued by Mr Bayo Onanuga, Director, Media and Publicity, APC Presidential...
Presidential candidate of Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, says he will expand the scope of Nigeria’s economy by tackling unemployment, if voted into power. The former vice-president made the pledge during a Presidential Stakeholders’ Engagement, held on Wednesday in Abeokuta. According to him, unemployment and the living...
Sen. Bola Tinubu, All Progressives Congress (APC) Presidential candidate, has reiterated his stance on addressing fiscal, monetary, and trade reforms to effectively increase domestic production if elected. Tinubu said this during a dialogue to unfold his economic plan before the organised private sector under the aegis of the Nigerian...
Vows to improve security, reposition economy before leaving office…….. President Muhammadu Buhari says the gains recorded in security will be further consolidated and more attention will be given to the economy, before handing over on May 29. The president stated this when he received the Executive members of the...
The Peoples Democratic Party (PDP) says Nigeria needs its Presidential Candidate, Atiku Abubakar, to rebound its challenged economy. The party’s National Publicity Secretary, Debo Ologunagba, said this at an interactive session with the media on Saturday in Abuja. Ologunagba said Nigeria needed Abubakar because of his practical experience, capacity,...
The President of the Senate Ahmad Lawan says Nigeria loses one million barrels of crude oil daily to crude theft. He made the remarks at the presentation of the 2023 Appropriation Bill to a joint session of the National Assembly by President Muhammadu Buhari in Abuja on Friday. Lawan...
President Muhammadu Buhari has urged Nigerians to embrace farming to enhance the country’s food security. Buhari made the appeal in a message to the annual Olojo festival in Ile-Ife, Osun. Represented by Minister of Interior, Rauf ArAregbèsola, the president said farming remained the bedrock of Nigeria’s economy and necessary...
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...
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...