The Minister of Finance and the Coordinating Minister of the Economy, Mr Wale Edun, has announced the integration of the Incentive Monitoring and Evaluation Platform (IMEP) into the Import Duty Exemption Certificate (IDEC) programme, thereby allowing for enhanced monitoring and evaluation of revenues from imports into the country. A statement issued by the ministry’s Director, […]
The Federal Government has announced plans to commence the loan disbursement process for micro, small and medium enterprises (MSMEs) and manufacturers under the Presidential N200 billion Intervention Fund scheme. President Bola Tinubu launched the scheme on October 17, 2023, to cushion the effects of the removal of petrol subsidy on entrepreneurs. The Minister of Industry, […]
Dangote Refinery’s management has announced a further reduction in the price of Automotive Gas Oil (AGO) diesel from the N1000/litre earlier reported last week to N940/litre for customers buying 5 million litres and above from the refinery. In a statement signed by the company’s Head of Communications, Mr. Anthony Chiejina the management maintained that the […]
The National Agency for Science and Engineering Infrastructure (NASENI) has opened discussions with Nasarawa State Government and Bobtrack Tractors, a division of Saint Bob Motors Limited, on the manufacturing and assembling of tractors in the North-Central geopolitical zone. A statement issued on Monday by the agency’s Director, Information, Segun Ayeoyenikan, on the multibillion Naira project […]
Despite sundry reform initiatives of the President Bola Tinubu-led administration to revitalize the nation’s economy, latest forecast from the International Monetary Fund (IMF) indicated that Nigeria’s economy continued its unimpressive performance, dropping into the fourth position in Africa economies’ ranking chart. This is coming barely two years after it was ranked as Africa’s largest economy […]
Cocoa prices have doubled as extreme weather has negatively affected supply, thereby hitting a new high of over $10,770 a ton on Thursday. Industry analysts attribute supply stress to the price gains, with more to come as Nigeria prepares for flooding. Experts have predicted production to fall short of demand by 374,000 metric tons this […]
…As Comprehensive Income Surges By 1,122% In FY 2023 The Nigeria Sovereign Investment Authority (NSIA) on Thursday restated its continued commitment to strong corporate governance, accountability, transparency and inclusion of critical stakeholders in its continued strive to improve the nation’s infrastructure for improved performance of the economy and value-addition to socioeconomic well-being of the […]
The Federal Government has assured that Nigerians and the global community that it will continue to highlight the progress made so far in its current drive to grow the Nigerian economy in order to attract more foreign investment into the country for socioeconomic well being of the citizenry. The Minister of Finance and Coordinating Minister […]
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 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 […]