Private sector accounts for 90% of Nigeria’s GDP-vice president
Businessam Staff
April 6, 2018
Yemi Osinbajo, Nigeria’s Vice-President said Thursday that the country’s private sector accounts for 90 percent of the nation’s gross domestic product (GDP). This was stated at the launch of the Nigerian Economic Diplomacy Initiative (NEDI), where the VP assured that the Federal Government is committed to ensuring adequate consultation, especially with the private sector, in […]
Bangladesh, Nigeria partner to enhance trade, economic cooperation – Envoy
Businessam StaffMarch 27, 2018
The People’s Republic of Bangladesh Tuesday, pledged to partner Nigeria to boost trade and economic cooperation. Shahhat Gati, the Acting High Commissioner of Bangladesh to Nigeria made this known in her address at the 48th Independence and National Day organised by the Bangladesh Embassy in Abuja. Bangladesh and Nigeria had enjoyed bilateral relations since the […]
Nigeria spends N400bn on raw sugar import in four years
Temitayo AyetotoMarch 26, 2018
Nigeria spent a total of N400 billion on the importation of raw sugar from 2013 to 2016, Abiodun Olasupo, chairman, House of Representatives ad-hoc committee investigating waiver to certain companies on sugar importation has said. He lamented the huge volume of importation in spite of the waivers meant to enhance local production and ensure that […]
Nigeria’s economy at critical period, but gov’t commits to growth
Ajose SehindemiMarch 23, 2018
Nigeria’s economy is at a critical period but the central government says it is commited to its growth and development and is eyeing up the real estate development sector to help its push for growth as it has the ability to generate volumes of jobs. The country’s vice president, Yemi Osinbajo, said at the 2018 […]
Nigeria’s finance ministry inaugurates committee, NSFPC, to facilitate economic prosperity
Goddey OdinMarch 14, 2018
Kemi Adeosun, Nigeria’s finance minister on Tuesday inaugurated Nigerian Sustainable Finance Principle Committee (NSFPC) in Abuja, a committee which seeks to ensure that financial services are rendered in ways and manners that protect the environment from externalities that may eventually undermine social comfort and convenience. Mahmoud Dutse the Permanent Secretary of the Federal Ministry of […]
Analysts decry Nigeria parliament’s delay in passing 2018 budget, confirmation of MPC nominees
Businessam StaffMarch 12, 2018
Some financial experts Monday in Lagos frowned at the failure of the National Assembly to pass the 2018 budget and confirmation of nominees of the monetary policy committee (MPC) of the Central Bank of Nigeria (CBN). In separate interviews with the News Agency of Nigeria (NAN), the stakeholders said the continued delay arising from the […]
Nigeria targets increased productivity with ERGP focus labs, says budget minister
Ajose SehindemiMarch 8, 2018
Udoma Udo Udoma, Nigeria’s minister of budget and national planning, on Thursday, said the Economic Recovery and Growth Plan (ERGP) focus laboratories initiative of the government would raise the level of productivity in the country. Udoma said the target of the country’s government to embark on the initiative was to produce and promote made- in-Nigeria […]
Nigeria’s state oil company to help non-oil sectors attain competitive edge
Goddey OdinMarch 1, 2018
Nigeria’s state oil company has expressed its commitment towards providing the necessary assistance for the country to attain a competitive edge in non-oil sectors of the economy. Maikanti Baru, group managing director of the Nigerian National Petroleum Corporation (NNPC), stated this on Wednesday while delivering a goodwill message during the ‘NNPC Day’ held at the […]
Nigeria will ‘muddle through’ with economic policies in medium term- IMF
Businessam StaffFebruary 28, 2018
The International Monetary Fund projects that Nigeria will “muddle through” with its economic policies in the medium term, according to a report seen by Reuters on Wednesday. Although Nigeria recovered from the recession in 2017, growth has largely been fueled by a bounce-back in oil production and prices, raising fears that Africa’s largest economy will […]
Nigeria on course to meet 3.5% growth estimate for 2018
Businessam StaffFebruary 28, 2018
Nigeria is on course to meet its projected 3.5 percent growth estimate for 2018, following the release of its Q4 2017 GDP numbers by the Nigerian Bureau of Statistics (NBS) on Tuesday. The statistical agency announced that the economy grew by 1.92 percent and Adeyemi Dipeolu, the presidential special adviser on economic matters said the […]