How to sustain Nigeria’s economic recovery – Udoma
Foster Obi
November 1, 2017
Udoma Udo Udoma, Nigeria’s minister of budget and national planning, has said that although the country is recording positive changes in its economic recovery plans, more work still needs to be done to sustain the positive momentum and that this will require using the best talents and tapping into the entrepreneurial spirit of Nigerians. The […]
Nigeria launches first Islamic insurance scheme to boost economy
Businessam StaffOctober 31, 2017
Malam Muhammad Sanusi 11, the Emir of Kano Monday launched the first Islamic insurance in Nigeria, tagged ‘Jaiz Takaful Insurance’. The Emir said at the event that the introduction of the system in Nigeria was a welcome development, especially as it would contribute towards boosting the country’s economy. According to him, the policy, which will […]
Automotive policy biting harder on Nigeria’s economy, says LCCI
Businessam StaffOctober 30, 2017
The Lagos Chamber of Commerce and Industry (LCCI) said Monday in Lagos that the automotive policy is biting harder on the Nigerian economy and must be urgently reviewed. Muda Yusuf, the Director-General of LCCI, who made the observation in an interview with the News Agency of Nigeria (NAN), said the review was necessary for facilitated […]
Nigeria’s inflation rate is expected to hit single digits in mid-2018, apex bank governor says
Businessam StaffOctober 27, 2017
Godwin Emefiele, Nigeria’s central bank governor said Friday he expected the inflation rate to fall at a faster pace and hit high single-digit rates mid-next year. “We are very optimistic that food prices will come down and as they come down, it will help to complement the reduction in core inflation,” Emefiele told journalists on the […]
Nigeria still grapples with the consequences of 1998 Malabu scandal, says vice president
Businessam StaffOctober 23, 2017
Yemi Osinbajo, Nigeria’s Vice-President said the country still suffers the consequences of the lack of transparency involved in the award of OPL 245 to Malabu Oil and Gas Ltd in 1998. Speaking in Jakarta, Indonesia, Monday at a conference on beneficial ownership organised by the Extractive Industries Transparency Initiative (EITI), Osinbajo also said hidden corporate ownership […]
Ondo state keys into Nigeria’s diversification programme, set to revive OK LNG coy
Businessam StaffOctober 23, 2017
Gov. Rotimi Akeredolu of Ondo said he will push the diversification programme of the state further by reviving moribund OK LNG, a state government-owned firm, to boost the state’s economy. This was the high point of the discussion of top Ondo officials and oil majors in a crucial meeting held in the office of the […]
Nigeria signs MoU with Ghana on regional co-operation in maritime operations
Businessam StaffOctober 17, 2017
The Nigerian Maritime Administration and Safety Agency (NIMASA) has signed a memorandum of understanding (MoU) with the Ghanaian Maritime Authority, (GMA). The official signing ceremony took place at the Nigerian Maritime Resource Development Centre in Lagos. In a statement signed by Isichei Osamgbi, NIMASA deputy director communications, Dakuku Peterside, director general of NIMASA, said intra-African […]
World Bank has over $8.5bn investment scattered across Nigeria, says senior officer
Businessam StaffOctober 16, 2017
World Bank Group says it has an investment portfolio of about 8.5 billion dollars scattered across states and regions in Nigeria to support the inclusive economic development and youth empowerment. Olufunke Olufon, the Senior Communications Officer, World Bank Nigeria, made this known in a statement Sunday in Abuja. She stated that the investments were to […]
Nigeria will be prudent in management of loans, minister reveals
Businessam StaffOctober 16, 2017
Kemi Adeosun, Nigeria’s Minister of Finance disclosed Sunday that the Federal Government would be prudent in the management of the country’s foreign borrowings. Adeosun said this in Washington D.C. at a Joint Media briefing with the Governor of the Central Bank of Nigeria, Godwin Emefiele, at the end of the 2017 Annual Meetings of the […]
Illegal activities stall Nigerian mining growth as sector generates paltry N14.96bn in two years
Businessam StaffSeptember 21, 2017
Shettima Abba-Gana, Acting Chairman, Revenue Mobilisation Allocation and Fiscal Commission ( RMAFC ) says the Nigerian mining sector was generating less than capacity due to activities of illegal mining. In an interview with the News Agency of Nigeria ( NAN ) Thursday in Abuja, Abba-Gana said the sector generated only N14.9 billion between 2015 and […]