The Federal Government has unveiled plans to raise manufacturing sector’s contribution to the nation’s Gross Domestic Product (GDP) to 20 percent within the next six years. Currently, the real sector’s contributions to the nation’s GDP is less than 10 percent, thereby necessitating huge importation of manufactured goods with the attendant negative implications for Nigeria’s foreign […]
The World Bank has revised Nigeria’s economic growth forecast for 2019 to 2.1 percent, down from the earlier 2.2 per cent growth projection for the country, representing 0.1 percent point reduction. The Breton Woods institution’s latest forecast on Nigeria was contained in the April edition of Africa’s Pulse, the bank’s periodical analysis of the state […]
The Director General of the Bureau of Public Enterprises (BPE), Mr. Alex Okoh, has said that the next phase of the Reform and Privatisation Programme of the Federal Government will focus on Public Private Partnerships (PPPs) in order to correct the rising infrastructure deficit in the country. Okoh made the remarks when he received a delegation […]
Vice President Yemi Osinbajo has expressed confidence in the ability of the new board and management of the Nigerian Deposit Insurance Corporation (NDIC) led by Mrs Ronke Sokefun, to provide the needed leadership required to consolidate on the corporation’s achievements in recent years. Osinbajo, who described the new chairman as a seasoned technocrat, gave the […]
The International Monetary Fund (IMF) on Tuesday projected that Nigeria’s economy would grow at the rate of 2.5 percent by 2020, up from the 2.1 percent forecast for 2019. The Breton Woods institution in a new World Economic Outlook (WEO) release issued at its ongoing joint annual spring meetings with the World Bank, in Washington […]
The latest report on Nigerians searching to buy or rent apartments that meet their needs by Reuters indicated that the number of the potential housing buyers and tenants was surging by the day, in spite of the sluggish growth of the nation’s economy. According to the latest news sourced from the online medium on Friday, […]
The National Bureau of Statistics (NBS) on Friday reported that total volume of petrol imported to supplement local refining output in the fourth quarter of last year stood at 5.32 billion litres. The official statistics producing and reporting agency in its ‘Petroleum Products Imports and Consumption (Truck Out) Statistics’ report disclosed further that 1.3 billion […]
The Debt Management Office (DMO) on Thursday disclosed that the nation’s debt stock totalled N24.38 trillion as at the end of the 2018 fiscal year, representing N2.66 trillion or 12.25 percent higher than the N21.74 trillion in the preceding year. The Director-General of the Office, Ms Patience Oniha, disclosed the figures during a media briefing […]
The Nigerian Communications Commission (NCC) has unveiled plans to introduce an Internet Industry Code of Practice in furtherance of its sustained efforts to combat the menace and make Nigeria’s internet space safer for users. The commission projected that the implementation of the policy would curb the increasing spate of cybercrimes and would also protect the […]
Oando Plc, a major player in the downstream and upstream sectors of Nigeria’s hydrocarbon resources industry, is set to raise fresh funds over the next two years and repay debt associated with its acquisition of Conoco Phillips’ Nigerian assets. The company a few years ago transformed from a fuel retailer to oil producer and now […]