October allocation to Nigeria’s national, sub-national governments rises to N788bn on the back of higher crude output
Nse Anthony-Uko
November 29, 2018
Total monthly payout by Nigeria’s Federal Account Allocation Committee (FAAC) for distribution to the national and sub-national governments rose by 12.9 per cent to 788.13 billion in October despite the lower crude prices due to higher production output to make up for the shortfall in price. The N788.139 shared in Kaduna surpassed the N698.710 billion […]
Nigeria’s privatization agency, BPE launches CSR Initiative
Businessam StaffNovember 28, 2018
The Bureau of Public Enterprises (BPE) has launched its Corporate Social Responsibility (CSR) initiative to cater for the needs of its immediate community. Alex A. Okoh, the director general of BPE who unveiled the policy through Hassan Ibrahim Nurain, his technical adviser (Strategy) at a dinner/award night in Abuja to commemorate the 30th anniversary of […]
Nigeria’s senate says new minimum capital for MfBs inimical to financial inclusion objectives
Nse Anthony-UkoNovember 23, 2018
Nigeria’s Senate Committee on Banking, Insurance and Other Financial Institutions has expressed concern over the decision of the Central Bank of Nigeria (CBN) to increase the minimum capital base of microfinance banks.The CBN had increased the minimum capital base of unit MfBs to N200 million from N20 million; state MfBs to NI billion from N100 […]
Nigeria govt to purchase gold from local refiners, says budget minister
Nse Anthony-Uko in AbujaOctober 24, 2018
The Nigerian government is finalising modalities to enable it purchase gold from local refiners, via a federal gold reserves scheme” Udo Udoma, minister of budget and national planning, has revealedThe government has already issued the first gold refining licence in Nigeria to Kian Smith Limited, an indigenous firm as a result of the economic recovery […]
Nigeria now 115th most competitive country in the world
Adesola AfolabiOctober 18, 2018
The latest global competitiveness index released Wednesday by the World Economic Forum (WEF) has shown Nigeria now ranks 115th position among 140 countries of the world. This position is, however, three positions lower than the 112nd position it ranked among 135 countries in 2017. According to the WEF, the new global competitiveness index 4.0, assesses […]
Nigeria welcomes UN’s move to tackle development challenges in the Sahel region
Businessam StaffSeptember 21, 2018
The Federal Government has welcomed the Sahel Initiative by the United Nations aimed at tackling development challenges of countries in the Sahel Region of Africa, noting that security challenges ravaging the region have taken much of the resources that would have been channeled to development programmes. Udoma Udo Udoma, minister of budget and national planning, […]
Nigeria beneficiary of $5bn projects from China partnership with Africa
Justice OkamgbaSeptember 5, 2018
Nigeria’s partnership with China through the Forum on China-Africa Cooperation (FOCAC) has resulted in the execution of vital infrastructure projects across the country, valued at over $5 billion in the last three years of the current administration. President Muhammadu Buhari disclosed this on Tuesday in Beijing at the FOCAC Round Table meeting, attended by African […]
Nigerian sees technology, innovation as panacea to growing unemployment rate
Justice OkamgbaJuly 31, 2018
The growing statistics of unemployment has become a monumental tragedy and would require an immediate technological and innovative approach, Nigeria central government has said. Adeyemi Dipeolu, the economic adviser to the presidency told a gathering at a two-day dialogue organised by Ibadan School of Government and Public Policy, that the federal government was intensifying efforts […]
Private sector urged to invest in Nigeria’s maritime as sector lost fortunes to collapsed national shipping line
Businessam StaffJune 13, 2018
Godwin Obaseki, the executive governor of Edo state has revealed that Nigeria as a maritime nation has lost fortunes to the collapse of the country’s National Shipping Line, NNSL, about 13 years ago. The governor disclosed this in Onne, Rivers State, during the official christening of the nation’s latest addition to the Nigerian ‘fleet’, the […]
Privatisation seen as pathway to Nigeria’s system liquidity, economic growth
Businessam StaffJune 12, 2018
Ayo Teriba, a leading economist and chief executive officer of Economic Associates, has canvassed for a vigorous privatisation of the country’s sectors to provide the needed liquidity and open up the economy for growth. He disclosed this recently while presenting a paper titled: Macro-economic Role of privatisation on the Nigerian Economy at a one-day orientation […]