Nigeria’s annual Gross Domestic Product (GDP) by expenditure grew in real terms by 0.82 percent year-on-year in 2017, representing a significant improvement compared to a decline of -1.58 percent decline recorded in real GDP growth rate in the preceding year. The expenditure approach measures the final uses of the produced output as the sum of Final consumption, Gross […]
The Nigerian Office for Trade Negotiations (NOTN) has inaugurated the Nigerian Coalition of Services Industries (NCSI), with strong support of private sector market operators, regulators and competent authorities. According to its official mandate, the NCSI will function as a lobby group to support trade in services; validate services priorities for Nigeria; and, formulate inputs and advice on positions […]
President Muhammadu Buhari on Friday assured that his administration may consider the review of the 13 per cent derivation formula constitutionally provided for oil producing states in order to reduce agitations in the Niger Delta region ensure socio-economic wellbeing of the people. The President’s promise was given when the Isoko Traditional Rulers and personalities led […]
Africa’s foremost industrialist and President of Dangote Group, Alhaji Aliko Dangote, on Wednesday said that Nigeria’s food importation bill on yearly basis stood at about N1.5 trillion, lamenting the pressure such avoidable expenditure is putting on the nation’s foreign reserves. Dangote gave this hint at the 3rd Eminent Persons Business lecture titled: ‘A case for […]
There are strong indications that the Federal Government may not have selected equity partners for the 95% equity of the about to the floated national carrier – Nigeria Air Media reports indicated that a document sourced from the Nigeria Civil Aviation Authority, NCAA, which debunked speculations in certain section of the social media that the […]
The Acting Managing Director, National Inland Waterways Authority, Mallam Danladi Ibrahim, on Monday said that the dredging of River Benue would commence next year. This is even as he confirmed that the Authority would complete the ongoing construction of the Lokoja and Oguta River ports before the end of this year According to him, the […]
The Director General of the Bureau for Public Enterprises (BPE), Mr .Alex Okoh, on Monday confirmed that only 63 percent of the privatised enterprises in the country is currently doing well while the others are under-performing in their economic roles. Okoh, who made this disclosure at the opening session of the Enterprise Stakeholders and Investors’ […]
Nigeria’s Consumer Price Index (CPI), which measures inflation, increased by 11.23 percent year-on-year in June this year, indicating a 0.37 percent points less than the 11.61 percent rate recorded in the preceding month. The rate represented the 17th consecutive disinflation since January 2017. The CPI report published today by the National Bureau of Statistics (NBS) […]
The African Export-Import Bank has indicated that plans were ongoing to support Nigeria and some other African countries with $25 billion facility within the next three years. The Bank’s President, Dr Benedict Oranma, gave this hint during a media chat at the sidelines of the bank’s annual meeting in Abuja. He said that the funding […]
The Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim, has identified the provision of quality education to millions of Nigerian youths as a strategic option of curbing violence and insecurity challenges in the country. Ibrahim gave the panacea in an address he delivered as the keynote speaker at the 15th Graduation Ceremony […]