Nigerian-Indonesian chamber to raise trade volume between both countries to $3.5bn
Andy Nssien
January 18, 2018
The Nigerian-Indonesian Chamber of Commerce and Industry (NICCI) has indicated that it would increase the volume of trade between Nigeria and Indonesia to $3.5 billion in 2018. Ishmael Balogun, president of NICCI, who stated this at an interview, said trade volume between the two countries, which stood at about $2.5 billion last year would be […]
Nigerian govt releases N750bn 2017 capital budget
Businessam StaffDecember 20, 2017
Nigeria’s Federal Ministry of Finance said it has started the release of N750 billion capital appropriation in the 2017 budget to ministries, departments and agencies (MDAs). Kemi Adeosun, the minister of finance, disclosed this Tuesday while appearing before the Senate committee on finance as part of the 2018 Budget Defence. She said most accounts of […]
Company urges blockchain technology in Nigeria’s gold mining to achieve sustainable economy
Businessam StaffDecember 19, 2017
Africa Mutual Resources, an Australian Company, has appealed to Nigeria to adopt Blockchain Technology in the mining of gold to boost its diversification drive and achieve sustainable economy. Lee Purves, the company’s director, told the News Agency of Nigeria (NAN) in Abuja on Tuesday that blockchain technology, a digital ledger system, smart and transparent technology […]
More French firms to invest in Nigeria
Businessam StaffDecember 14, 2017
A delegation of the Movement of French Business (MEDEF), the first network of entrepreneurs in France, on Wednesday said that Nigeria would continue to attract more French companies. Phillip Labonne, The Head of the Delegation, according to NAN, said at a news conference in Lagos that Nigeria would continue to be a land of investment […]
Nigerian FG, states hit by N25b revenue shortfall
Businessam StaffDecember 8, 2017
The Nigerians States, Federal and Local Government in October shared N532.7 billion which shows a decline of N25.3 billion when compared to what they shared in September. The Permanent Secretary of the Ministry, Mahmoud Isa-Dutse said this on Thursday in Abuja while briefing newsmen on the outcome of the monthly Federal Account Allocation Committee (FAAC). […]
Nigeria’s central govt targets key reform initiatives in ERGP to fund 2018 budget
Businessam StaffNovember 15, 2017
Udoma Udo Udoma, Nigeria’s minister for budget and national planning, said Tuesday that the country’s Federal Government will fund the 2018 budget using key reform initiatives contained in the Economic Recovery and Growth Plan (ERGP). The minister said this in Abuja while presenting an overview of the 2018 budget proposal. The budget, tagged “Budget of […]
Nigeria’s Senate approves Buhari’s $5.5bn foreign loan request
Businessam StaffNovember 14, 2017
The Nigeria’s Senate Tuesday approved a $5.5 billion external loan request by President Muhammadu Buhari. The president had in a letter on October 10, requested the upper chamber to approve $3 billion external loan and $2.5 billion Eurobond or Diaspora bond in the international market. Buhari explained that the bonds would be channelled towards funding […]
FG canvasses investors’ support for truck parks, inland dry ports
Businessam StaffNovember 9, 2017
The federal government has urged investors to key into the immense opportunities inherent in the Inland Dry Ports (IDP) and the proposed Truck Transit Parks (TTP) initiated by the Nigerian Shippers’ Council (NSC). The truck parks and inland dry ports are the brain child of the NSC designed to be built and managed by private […]
Nigeria’s external reserves to hit of $35bn, highest in last 3years
Businessam StaffNovember 6, 2017
Increase in global oil has spurred Nigeria’s external reserves to $35 billion marks, the highest in the last three years. According to data from the website of the Central Bank of Nigeria (CBN), external reserves of the country rose by $1.37 billion in October 2017. An improvement which is 100 percent of what was achieved […]
2017 international trade fair to enhance economic growth, Ambode says as it begins in Lagos
Businessam StaffNovember 3, 2017
Akinwunmi Ambode, Governor of Lagos State said the 2017 Lagos International Trade Fair (LITF) will be an avenue for collaboration toward enhancing economic growth. According to NAN’s report, the governor, represented by his deputy, Idiat Adebule made the remark Friday, at the opening of the fair with the themed “Promoting Industrialisation for Economic Recovery and […]