Dangote Refinery to reposition Nigeria as leading economy in the world, says Dangote
Animashaun Luther
May 23, 2023
By Cynthia Ezekwe The Dangote petroleum and petrochemical refinery, which has gulped an estimated $18.5 billion has been positioned on the trajectory to reposition Nigeria as a leading economy in the world. Aliko Dangote, president Dangote Industries Limited, who disclosed this at the official commissioning of the refinery in Ibeju-Lekki, Lagos state, noted that once […]
Lagos Free Zone GDP contribution to hit $12bn in 2032, says promoters
Cynthia EzekweMay 23, 2023
By Cynthia Ezekwe Promoters of the Lagos Free Zone (LFZ), have projected a significant rise in the revenue generation from the zone,which is expected to contribute over $12 billion to Nigeria’s annual gross domestic product (GDP) by 2032. According to Chinju Nwankwo-Udora, the business development and marketing manager, LFZ, the zone currently contributes about one […]
AU Commission, Gavi sign MoU to drive vaccines access in Africa
BEN EGUZOZIEMay 23, 2023
By Ben Eguzozie The African Union Commission (AUC) and Gavi, the Vaccine Alliance (Gavi), recently signed a Memorandum of Understanding (MoU) to drive access and accelerate the uptake of life-saving vaccines across the African Union-member states towards supporting immunisation, providing technical and learning assistance and health systems strengthening. The MoU was signed on […]
KPMG warns Nigeria’s debt profile will cause fiscal woes for next administration
Onome AmugeMay 19, 2023
By Onome Amuge Professional services firm, KPMG, has warned that Nigeria’s debt service to revenue ratio may exceed 100 percent in 2023, and could result in critical debt servicing problems, making it difficult for the next administration to fund operations and functions. The firm, In its latest macroeconomic snapshot, stated that unless urgent actions to […]
FAAC allocation to federal govt, subnationals decline 8% to N655.932 in April
Onome AmugeMay 19, 2023
By Onome Amuge The monthly allocation shared by the Federation Account Allocation Committee (FAAC) to the federal, state, and local government councils, dropped by eight per cent from N714.62 in March to N655.932 billion for April 2023. FAAC made the disclosure in a communiqué issued at the end of its latest meeting in Abuja. The […]
Dakuku Peterside to speak on Nigeria’s leadership role in Africa at 2023 Africa Day celebration
Business a.m.May 17, 2023
By Business A.M. Dakuku Peterside, a technocrat and columnist, and former director general of Nigerian Maritime Administration and Safety Agency (NIMASA),has been invited to speak at the Center for Pan-African and Peace Studies (CePAPS) of the African University of Science and Technology (AUST), Abuja, as it hosts a special event to celebrate Africa Day 2023 […]
Nigeria’s inflation rate soars for 4th straight month to 22.04% in April 2023
Animashaun LutherMay 15, 2023
By Onome Amuge Nigeria’s inflation rate rose for the fourth consecutive month in the year and highest in 17 years to 22.22 per cent in April 2023,representing an increase of 0.18 per cent from 22.04 per cent posted in March 2023. This is according to the latest inflation report by the National Bureau of Statistics […]
Nigeria’s poverty populace to increase by 13 million between 2019 and 2025, says World Bank
Cynthia EzekweApril 17, 2023
By Cynthia Ezekwe With Nigeria’s population growth continuing to outpace poverty reduction and persistently high inflation, the number of Nigerians living below the national poverty line is expected to rise by 13 million between 2019 and 2025. The World Bank made the projection in its latest report tagged “Macro Poverty Outlook for Nigeria: April 2023. […]
Buhari leaves on a ‘high’ as inflation, 9% in May 2015, prints 22% in March 2023
Onome AmugeApril 17, 2023
By Onome Amuge President Muhammadu Buhari took over as head of government of Nigeria with inflation at 9.01 percent, but with the March inflation data recently released by the National Bureau of Statistics (NBS) showing no signs of a let up, it is now all but certain that this must be one of the ways […]
Nigeria’s total debt stock rises 14% to N46.25trn in 2022
Business a.m.March 30, 2023
By Business A.M. Nigeria’s debt stock, comprising the domestic and external debt stocks of the federal government,sub-national governments and the Federal Capital Territory, surged in the fourth quarter of 2022 to N46.25 trillion or $103.11 billion, according to a latest figure by the Debt Management Office (DMO). The new figure by the DMO, represents a […]