Economy News Extra Infrastructure & Capital Projects Latest News Political Economy Revenue Taxation

Ogun Governor Proposes N450Bn Budget For 2020 Fiscal Year

Ogun State Governor, Mr. Dapo Abiodun, has presented an Appropriation Bill with a provisional value of N449.97 billion to the state’s Legislature for consideration as budget for the 2020 fiscal year. According to the budget proposal tagged ‘Budget to Build our Future Together’ laid before the State House of Assembly on Tuesday, the governor earmarked […]

Budgeting Economy News Extra Infrastructure & Capital Projects Latest News Manufacturing Technology Telecomms

World Bank Lists Challenges To Nigeria’s Entrepreneurial Ecosystem

The World Bank Group on Thursday reported that although Nigeria is the largest mobile market in Sub Saharan Africa (SSA) with a strong mobile broadband infrastructure and a vibrant digital entrepreneurial ecosystem, the lack of infrastructure and connectivity in the country’s rural areas is a key challenge. The Breton Woods institution disclosed this during the […]

Budgeting Economy News Extra Infrastructure & Capital Projects Latest News National Assembly

Senate Seeks Improved Funding For Border Communities’ Devt Agency

The Senate has urged the Federal Government to improve funding for the Border Community Development Agency (BCDA) to mitigate the communities’ under-development and improve the welfare of people living in border communities. The call for funding of BCDA was sequel to a motion sponsored by Sen. Sadiq Suleiman and co- sponsored by 21 other senators […]

Economy News Extra Infrastructure & Capital Projects Insurance & Pension Investments/Capital Market Latest News

NSIA Reports N68.3Bn Profit, To Get New $250Mn Support

The Nigeria Sovereign Investment Authority (NSIA) on Thursday disclosed that it posted N68.3 billion as profit from January 2018 to June 30 this year from its various investment activities. The Managing Director of state-owned investment authority, Mr Uche Orji, who made the disclosure at the end of the National Economic Council (NEC), meeting held in […]

Economy News Extra Infrastructure & Capital Projects Investments/Capital Market Latest News

SEC Developing Teachers Guides On CMS To Boost Financial Literacy – Uduk

The Securities and Exchange Commission (SEC) on Thursday stated that it had commenced the development of teachers’ guides on Capital Market Studies (CMS) as part of the initiatives being taken to introduce the studies into the curriculum of schools nationwide. The Acting Director General of the commission, Ms Mary Uduk, gave this hint in her […]

Banking Infrastructure & Capital Projects Investments/Capital Market Latest News

AFC Issues $500Mn Eurobond For General Corporate Services

Africa Finance Corporation (AFC), Africa’s infrastructure financing organisation, has issued a $500 million 10-Year Eurobond for general corporate services. The Corporation in a statement indicated that the “senior, unsecured Eurobond, which carries a coupon of 3.75 percent, was priced to yield 3.895 percent for a tenor of 10 years, being  the longest tenor bond issued […]

Banking Economy News Extra Infrastructure & Capital Projects Investments/Capital Market Latest News Political Economy

Board Of Governors Approves New $115Bn Capital For AfDB

Governors of the African Development Bank, representing shareholders from 80 countries, approved a landmark $115 billion increase in capital for the continent’s foremost financial institution at an extraordinary shareholders’ meeting held Thursday in Abidjan,.the Ivory Coast capital. The capital increase, the largest in the history of the development finance institution since its establishment in 1964, demonstrated […]

Economy News Extra Infrastructure & Capital Projects Latest News Privatisation & Commerce

Ajaokuta Project Will Be Completed Within Two Years – Minister

Despite some challenges it is facing of the revitalization of the multi-billion Naira Ajaokuta steel project, the Federal Government on Friday said that ongoing reactivation of  the project would be completed within the next two years. The Minister of Mines and Steel Development, Olamilekan Adegbite, set this timely for the re-opening of the moribund plant […]

Budgeting Economy News Extra Infrastructure & Capital Projects Latest News

High Personnel Cost In Budgetary Provisions Not Desirable – Ahmed

The Minister of Finance, Budget and National Planning, Mrs. Zainab Shamsuna Ahmed, on Thursday described the huge sum of N3.3 trillion personnel cost provision in the 2020 Appropriation Bill as undesirable for nation’s development when compared to the N2.1 trillion voted for capital projects. Ahmed, who expressed this feeling during her defence of the ministry’s […]