Nigerian FG, states hit by N25b revenue shortfall

Kemi Adeosun, Nigeria's finance minister and Yemi Osibanjo, Vice president

The Nigerians States, Federal and Local Government in October shared N532.7 billion which shows a decline of N25.3 billion when compared to what they shared in September. The Permanent Secretary of the Ministry, Mahmoud Isa-Dutse said this on Thursday in Abuja while briefing newsmen on the outcome of the monthly Federal Account Allocation Committee (FAAC). […]

Nigeria’s central govt targets key reform initiatives in ERGP to fund 2018 budget

Sen. Udoma Udo Udoma, Minister of Budget and National Planning

Udoma Udo Udoma, Nigeria’s minister for budget and national planning, said Tuesday  that the country’s Federal Government will fund the 2018 budget using key reform initiatives contained in the Economic Recovery and Growth Plan (ERGP). The minister said this in Abuja while presenting an overview of the 2018 budget proposal. The budget, tagged “Budget of […]

Nigeria’s Senate approves Buhari’s $5.5bn foreign loan request

President Buhari presents 2018 budget

The Nigeria’s Senate Tuesday approved a $5.5 billion external loan request by President Muhammadu Buhari. The president had in a letter on October 10, requested the upper chamber to approve $3 billion external loan and $2.5 billion Eurobond or Diaspora bond in the international market. Buhari explained that the bonds would be channelled towards funding […]

FG canvasses investors’ support for truck parks, inland dry ports

The federal government has urged investors to key into the immense opportunities inherent in the Inland Dry Ports (IDP) and the proposed Truck Transit Parks (TTP) initiated by the Nigerian Shippers’ Council (NSC). The truck parks and inland dry ports are the brain child of the NSC designed to be built and managed by private […]

Nigeria’s external reserves to hit of $35bn, highest in last 3years

Increase in global oil has spurred Nigeria’s external reserves to $35 billion marks, the highest in the last three years. According to data from the website of the Central Bank of Nigeria (CBN), external reserves of the country rose by $1.37 billion in October 2017. An improvement which is 100 percent of what was achieved […]

2017 international trade fair to enhance economic growth, Ambode says as it begins in Lagos

Akinwunmi Ambode, Governor of Lagos State said the 2017 Lagos International Trade Fair (LITF) will be an avenue for collaboration toward enhancing economic growth. According to NAN’s report, the governor, represented by his deputy, Idiat Adebule made the remark Friday, at the opening of the fair with the themed “Promoting Industrialisation for Economic Recovery and […]

How to sustain Nigeria’s economic recovery – Udoma

Udoma Udo Udoma, Nigeria’s minister of budget and national planning, has said that although the country is recording positive changes in its economic recovery plans, more work still needs to be done to sustain the positive momentum and that this will require using the best talents and tapping into the entrepreneurial spirit of Nigerians. The […]

Nigeria launches first Islamic insurance scheme to boost economy

Malam Muhammad Sanusi 11, the Emir of Kano Monday launched the first Islamic insurance in Nigeria, tagged ‘Jaiz Takaful Insurance’. The Emir said at the event that the introduction of the system in Nigeria was a welcome development, especially as it would contribute towards boosting the country’s economy. According to him, the policy, which will […]

Automotive policy biting harder on Nigeria’s economy, says LCCI

Muda Yusuf, director-general-Lagos-Chamber-of-Commerce-and-Industry

The Lagos Chamber of Commerce and Industry (LCCI) said Monday in Lagos that the automotive policy is biting harder on the Nigerian economy and must be urgently reviewed. Muda Yusuf, the Director-General of LCCI, who made the observation in an interview with the News Agency of Nigeria (NAN), said the review was necessary for facilitated […]