Business and Economy

 For Nigeria to effectively move away from an oil-dependent economy and industrialise, it must develop the blue economy. This was the position of the Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside and other top players in the maritime industry, at the 2018 World Maritime …

By Peter Ejiofor Lagos, Oct. 15, 2018 Nestlé Nigeria has begun a Sales Academy in collaboration with the Lagos Business School (LBS) to train and equip its employees. This, the company said was in line with its commitment to create an environment that allows people to learn, grow and thrive …

Nobody is rattled by Executive Order 6 or President Buhari’s directive that it be implemented “in full force”. The order, which bans 50 Nigerians suspected to be corrupt from travelling abroad or selling their assets until their cases are determined in the courts, seems as weak as the government making …

  The recent suspension of the proposed national carrier, Nigeria Air, has elicited mixed feelings across the nation. The name and logo of the flag carrier had been unveiled with so much promise at the Farnborough Air Show in London in July. Operations were due to begin this December. The …

The Minister of Budget and National Planning, Senator Udoma Udo Udoma on Thursday in Indonesia told a global audience that the implementation of the Economic Recovery and Growth Plan (ERGP 2017 – 2020), is moving Nigeria’s economy in a positive direction. Senator Udoma, who was speaking at the presentation of …

By Folasade Folarin and Racheal Ishaya Bali (Indonesia), Oct. 10, 2018 Mr Udoma Udo Udoma, the Minister of Budget and National Planning, says the Federal Government has so far released N460 billion from the 2018 Budget for capital projects. The minister said this on Wednesday, while fielding questions from Nigerian …

Johannesburg, Oct. 8, 2018 South Africa’s MTN Group shares rose as much as 2.55 per cent after the Nigerian Central Bank said it might reduce the $8.1 billion it had ordered the telecoms firm to repatriate to Nigeria. At the Johannesburg Stock Exchange on Monday, MTN shares were up 2.03 …

  Oil revenue has been and still is the mainstay of the national economy and is likely to remain so for a long time to come, as it currently provides the bulk of government revenue and most of the foreign exchange earnings. At present, crude oil exports account for about …

By Lucy Nwachukwu Abuja, Oct. 5, 2018 The Minister of Finance, Mrs Zainab Ahmed, has urged the Central Bank of Nigeria (CBN) and Nigeria Deposit Insurance Corporation (NDIC) to investigate and prosecute directors that led to the collapse of the defunct Skye bank. The minister said this in a statement …

By Constance Imasuen Abuja, Oct 3, 2018 The Nigerian Communications Commission (NCC) said on Wednesday that educating the telecom consumers on their rights would be given top priority by the commission. Prof. Umar Danbatta, Executive Vice Chairman, NCC, represented by Mr Reuben Mouka, Head Public Relations, NCC, made this assertion …

By Uchenna Eletuo Lagos, Oct. 3, 2018 Dr Dakuku Peterside, the Director-General  of the Nigeria Maritime Administration and Safety Agency (NIMASA), said on Wednesday that prompt action against regional maritime insecurity was key to the growth of the regional economies. Peterside said this at the opening ceremony of the Economic …

Nigeria’s Vice President, Prof. Yemi Osinbajo has commended Governor Ifeanyi Ugwuanyi of Enugu State for his administration’s unceasing cooperation with the federal government in the advancement of the set objectives of the Micro, Small and Medium Enterprises (MSME) in the state and beyond. Prof Osinbajo, who said he was “extremely …

For over 250 years, Coffee has evolved to become part of many cultures, livelihoods, and economies around the world. According to a study by the International Coffee Organization (ICO), coffee accounts for the primary source of income for more than 10 million households in 25 African coffee-growing countries. The study further estimates …

Key foreign investors, who met at various meetings with the Nigerian Government delegation to the United Nation’s General Assembly in New York during the week, expressed interest in scaling up investment in Nigeria. At an Investors Roundtable held under the auspices of the Business Council for International Understanding (BCIU), the …

By Racheal Ishaya Abuja, Sept. 26, 2018 The Debt Management Office (DMO), says as part of activities for raising capital for the 2018 budget, the Federal Government raised N96.7 billion at its bond auction on Wednesday. A statement obtained from the DMO website in Abuja, said at the auction the DMO …

 By Lilian Okoro Lagos, Sept. 26, 2018 A total of 172.196 million shares valued at N2.05 billion were traded in 2,866 deals on the Nigerian Stock Exchange (NSE) on Wednesday. These were against the 222.956 million shares worth N3.28 billion traded in 3,327 deals on Tuesday. The News Agency of …

   The Nigerian Federal Government delegation to United Nations General Assembly (UNGA) currently going on in New York (USA) will be having a number of side meetings today and tomorrow, Wednesday and  Thursday, September 26-27, 2018. The meetings will largely be trade and business meetings with global investors, including Investment …

The Monetary Policy Committee, MPC, meeting of the Central Bank of Nigeria, CBN, has risen from its meeting stating that the outlook for the year 2018 remains positive as the economy is projected to grow by 1.75 per cent, anchored on continued stability in the foreign exchange market, sustained high …

 The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has been re-elected the Chairman of the Association of African Maritime Administration (AAMA) for another term. Dr. Dakuku who is the incumbent Chairman of the Association was unanimously elected to continue to lead the body …

Olusiji Ijogun, Chairman of Konga, Nigeria’s composite e-commerce giants, has revealed that the company is set to invest N2.9bn in its logistics arm, K-xpress to build a world-class delivery solutions  company that will resolve the logistics challenges in Nigeria. He made this assertion when a section of the media caught …

A Federal Government of Nigeria delegation comprising core economic ministers, the Central Bank, CBN, Governor and the Director General of the Debt Management Office, DMO, will during the week host international investors and rating agencies in New York City, United States of America, to present the country’s economic and business …

Former Governor of Anambra State, Mr. Peter Obi, has expressed shock over the sudden suspension of plans by the Federal Government to float a new national carrier to be known as Nigeria Air. Minister of State for Aviation, Senator Hadi Sirika, who unveiled the airline with fanfare on July 16 …

Lagos, Sept. 22, 2018 Some maritime stakeholders have urged the Federal Government to fast track the ongoing reconstruction of access roads to Lagos ports to save the economy from losing N5 billion daily. The stakeholders, speaking to the News Agency of Nigeria (NAN) on Saturday in Lagos, said the bad …

  By Edith Ike-Eboh Abuja, Sept. 21, 2018 The Nigerian National Petroleum Corporation (NNPC) says it has no hidden 470.5 million dollars and N8 billion in any commercial bank as alleged by the Nigerian police. The NNPC in a statement by its Group General Manager, Group Public Affairs Division, Mr …

The Chief Judge of the Federal High Court, Abuja Division, Hon. Justice Adamu Abdu Kafarati, has reiterated the need for judges in Nigeria to support the recovery efforts of Asset Management Corporation of Nigeria (AMCON) since the corporation was established as a central element of government’s response to financial crisis …