Category: Economy
Nigeria lost N700bn to #EndSARS protests in 12 days – LCCI
Nigerian economy may have lost about N700bn to the #EndSARS protests in the last 12 days, Lagos Chamber of Commerce and Industry has said. LCCI President, Mrs Toki...
Savannah, Dangote Sugar coy in Adamawa shut down by Workers, protest over unpaid gratuities
Business and operational activities have been brought to a standstill as workers at Dangote Savannah Sugar company in Numan, Adamawa state staged a protest over alleged...
EFCC seizes Highland tea, temporarily forfeites company to Federal govt
EFCC letter of forfeiture to Taraba Govt The Economy and Financial Crime Commission,EFCC in a Court order have seized up Highland Tea company and temporarily forfeited...
Senate queries NHIS over N122bn in fixed deposit
Senate Public Accounts Committee has queried the National Health Issuance Scheme over N122bn fixed in an unnamed commercial bank. The committee admitted that the Auditor...
Gov Darius and Sen Binos tell FGN to revoke the Numan Jalingo Road contract.
….says is a contract in peril, hope into despair to the people of Adamawa and Taraba The Federal Government has been called upon to revoke the multi billion Naira...
Gov Inuwa Signs MoU with Chinese Company to generate 450 MGWs electricity from Coal in Gombe
Gombe state Government has signed a Memorandum of Understanding with a Chinese conglomerate, TBEA Company Limited and Chinese Railway 18th Bureau Group, parent company...
2.4 million farmers to benefit from CBN’s zero interest rate
Federal Government is to create about five to 10 million jobs in the agricultural sector through the Agriculture for Food and Job Plan (AFJP).Minister of Agriculture and...
FG declares Nigeria Africa’s largest rice producer
Federal Government has declared Nigeria the largest producer of rice in Africa. Minister of Agriculture and Rural Development, Sabo Nanono, made this declaration in...
2021 budget: Reps Dauda lauds Buhari, appeals for Adamawa neglected communities
The Federal representatives Lawmaker in the National Assembly for the people of Michika and Madagali,Hon Zakaria Dauda Nyampa during the Tuesday plenary presided by Rt...
CBN disburses N38.11bn loans to 44,458 beneficiaries through NIRSAL
Central Bank of Nigeria says it disbursed a total of N38.11 billion loans to 44,458 beneficiaries through the NIRSAL Microfinance bank, and other participating financial...
Sen Abbo influences the construction of 30 years abandoned Kwa-Betso road in Adamawa
…thank President Muhammadu Buhari for awarding the contract The Senator representing Adamawa Northern Senatorial District, Mr Ishaku Abbo has influenced the...
N712bn wasted under Niger Delta Amnesty programme – NSA Monguno
National Security Adviser, Babagana Monguno, on Friday, said N712 billion was wasted and unaccounted for under the Niger Delta Amnesty Programme. Monguno disclosed this...
Gombe Gov meets President Buhari,makes case for speedy oil exploration in North East
…seeks FG’s support to tackle menace of gullies in Gombe Gombe State Governor, Alhaji Muhammadu Inuwa Yahaya has met with President Muhammadu Buhari where he...
2021 budget: Economic experts react
Ngozi Amuche Financial experts and stakeholders have commended President Muhammadu Buhari for the early presentation of the 2021 budget proposal to the National...
2021 budget’ll stimulate economy, protect Nigerians in diaspora — Rep Buba
The Chairman, House of Representatives Committee on Foreign Affairs, Rep. Yakub Buba (APC-Adamawa) says the 2021 budget will stimulate the economy and ensure business...
World Bank applauds Buhari’s govt over fuel subsidy removal
…predicts 4.1% shrink in Nigeria’s economy in 2020 World Bank, on Thursday, applauded the Federal Government for the removal of petrol subsidy, saying it’s an...
All ministers must appear before NASS for budget defence, says Buhari
President Muhammadu Buhari, on Thursday, ordered ministers and other heads of Federal Government Ministries, Departments and Agencies to appear physically before...
2021 budget: Generating revenue, my govt’s biggest challenge – Buhari
President Muhammadu Buhari says the greatest challenge facing his administration is revenue generation to fund annual budgets Buhari stated this in his speech during the...
US arbitration tribunal frees Nigeria of $1.5bn liability
….orders two oil firms to refund $660, 000 to FG United States of America-based International Centre for Settlement of Investment Dispute has relieved Nigeria of a...
Buhari signs BASAs with USA, India, others
President Muhammadu Buhari has signed bilateral air service agreements with USA, India, Morocco, Rwanda. Minister of Aviation, Haji Sirika, announced this on Tuesday. A...
Independence:Nigeria is divided under Buhari’s adm’tion says Adamawa CAN chair
The chairman Christian Association of Nigeria (CAN), Adamawa State chapter, Rev. Dr. Stephen Dami Mamza has disclosed that Nigeria has never been divided like it is...
I’m aware of Nigeria’s economic, security challenges, says Buhari
President Muhammadu Buhari, on Thursday, lamented that the nation’s economy under his watch is in crisis He, however, claimed that the same parlous economic situation...
Nigeria can’t be selling petrol cheaper than Saudi Arabia – Buhari
President Muhammadu Buhari, on Thursday, said there’s no sense in Nigeria selling her petroleum products at prices lower than those sold in neighbouring countries....
FEC approves N13.08trn 2021 budget estimate
Federal Executive Council has approved a budget estimate of N13.08trn for the 2021 fiscal year. The fiscal document was approved at a meeting of the council on Wednesday...
Concerns, as CBN uncertain about financial inclusion target by 2020
By Ngozi Amuche Central Bank of Nigeria has said that Nigeria is far from achieving it’s financial inclusion target by 2020. CBN disclosed this in the report titled,...
NGO sensitises Taraba business women on child care, donates materials
A none governmental organization, Alheri Center for Women and Child Care Development ACWCCD, on Friday trained the women of Kauna Village Savings and Loans Association...
Kano-Niger Republic rail line misplaced priority, say PDP, CSOs, others
…as FEC approves $1.96bn project Main opposition Peoples Democratic Party and some civil society organisations, on Wednesday, berated the Federal Government over...
Atiku not under US banking surveillance watch – Spokesman
Paul Ibe, spokesman to former Vice President Atiku Abubakar, has denied report that his boss and his family members are under watch list by the United States agency for...
FG paid N8.94trn in 10 yrs as petrol subsidy – PPPRA
Petroleum Products Pricing Regulatory Agency says Federal Government spent N8.94tn on petrol subsidy between 2006 and 2015. Data from the PPPRA showed that during the...
Running refineries shouldn’t be govt business – VP Osinbajo
Vice President Yemi Osinbajo says the problems associated with Nigeria’s refineries will persist if the Federal Government continues to own and run them. Osinbajo said...
Federal, state, LG share N682bn, as revenue drop N11.96bn
Federation Accounts Allocation Committee in August 2020 shared a total of N682.06bn from the federation account revenue to the federal, states and local government...
Shell produces 514,000 barrels of oil per day – Report
An international oil firm, Shell Petroleum Development Company, says it has grown its oil output to an average of 514,000 barrels per day (bpd) and developed an...
Self-certification forms: FG apologises for misinforming bank account holders
….says fresh account details’ registration not for everyone Federal Government, on Friday, apologised for asking all account holders in the country’s financial...
Despite BVN, NIN, FG orders bank account holders to register afresh
Federal Government has directed that every Nigerian operating an account with financial institutions must undergo a self-certification process. This is quite different...
Commercial banks to reject old cheque books after December 31
Deposit Money Banks will no longer honour old cheque books by December 31, 2020 as they have been phased out from the nation’s banking system. The banks have,...
EFCC arrests two lecturers, 28 others for internet fraud in Kwara
Economic and Financial Crimes Commission has arrested two lecturers of the Kwara State College of Health Technology, Offa and 28 others over their alleged involvement in...
Nigeria owes World Bank N3.96tn — DMO
Latest figures from the Debt Management Office have shown that Nigeria’s highest external debt stock to a multilateral or bilateral financial institution is its...
Commercial banks sacked 9,866 employees in one year-Report
….as total staff strength fell by 9.45% in Q2 2020 Ngozi Amuche As the micro-economic conditions in Nigeria continue on a negative trajectory, commercial banks in...
Herders/Famers clashes:Taraba govt. partners FG to establish model ranch and livestock training centre
Taraba state government says it has gone into partnership with the Federal Government to establish a Model Ranch and Livestock Training Centre to check frequent clashes...
FG, states, LGs shared N3.88trn in six months – NEITI
Nigeria Extractive Industries Transparency Initiative says the Federation Accounts Allocation Committee shared N3.879trn to the Federal Government, states, local...