The Central Bank of Nigeria (CBN) has issued a new directive to all Deposit Money Banks (DMBs) in the country on the reduction of their loan-to-deposit ratio (LDR) to 50% as part of its ongoing regulatory measures introduced in response to evolving economic conditions in the country. The latest adjustment of the LDR by the […]
The Nigerian Economic Summit Group (NESG) held its Annual General Meeting (AGM) on Tuesday in Lagos to review the year ended December 31st 2023. Speaking at the meeting which featured the presentation of the group’s year-end financial statement and re-appointment and ratification of its board directors, Chairman of the Board of Directors of the NESG, […]
The International Monetary Fund (IMF) on Tuesday predicted that Nigeria’s inflationary pressure will ease to 26% this year. The Bretton Woods institution made the prediction during its presentation of global projections from its World Economic Outlook at a news conference in Washington DC. Speaking during a press conference, Division Chief of the Research Department at […]
The Federal Government has commenced the disbursement of the N50,000 Presidential Conditional Grant Scheme, also known as Trade Grants Scheme, to Nano businesses nationwide. The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) classifies Nano businesses as enterprises that have one or two workers and less than N3 million annual turnover. The Minister of […]
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, on Monday hinted that the Federal Government intended to reduce the cost of tax expenditures for corporates and ensure that tax incentives have positive impacts on their operations as a strategic step towards growing the nation’s economy. The minister disclosed this while […]
The National Agency for Science and Engineering Infrastructure (NASENI) and the National Institute for Policy and Strategic Studies (NIPSS), Kuru, Plateau State, are set to collaborate on enhancing Nigeria’s digital economy footprints, empowering and creating jobs for millions of youths. The Executive Vice Chairman and Chief Executive Officer (EVC/CEO), NASENI, Mr. Khalil Suleiman Halilu, disclosed […]
Ogun State Governor, Prince Dapo Abiodun, on Monday assured the state’s indigenes and residents that his administration would continue to fulfil all promises made to the public service by ensuring the provision of adequate working tools for the workforce. Abiodun gave the assurance during the swearing-in of the newly appointed Head of Service, Mr. Kehinde […]
Researchers at the Centre for the Study of Economies of Africa (CSEA), a leading economic research firm with primary focus on developments in African economies, have advocated the need for the Federal Government to review its debt management procedures and framework to ensure that borrowing is resorted to only when necessary and that borrowed funds […]
Nigeria’s Consumer Price Index (CPI) or inflation rate increased in March 2024 to 33.20%, up from the 31.70% recorded in February this year. The National Bureau of Statistics (NBS) in its CPI and Inflation Report March 2024’ published on its website on Monday, indicated that the March 2024 headline inflation rate showed an increase of […]
Nigeria has become the first country globally to launch Men5CV vaccine, which is recommended by the World Health Organization (WHO) for the prevention of meningitis globally. The Men5CV vaccine rollout by the country represented a major milestone in the global efforts targeted at combating meningitis outbreak, as it provides broader protection than the previous vaccines. […]