Nigeria’s DMO puts country’s public debt at N35trn by H1 ‘21

Nigeria’s DMO puts country’s public debt at N35trn by H1 ‘21

Nigeria’s total public debt, comprising domestic and external obligations of the federal and state governments, plus the Federal Capital Territory (FCT), Abuja, rose to N35.465 trillion as at June 30, 2021 according to the Debt Management Office (DMO). Patience Oniha, director-general, DMO, who gave details in Abuja during a presentation of the nation’s debt profile, […]

Nigeria’s inflation records fifth consecutive drop to 17.01%

Nigeria’s inflation records fifth consecutive drop to 17.01%

Nigeria’s consumer price index (CPI), which measures inflation rate, trended downward for the fifth consecutive month to 17.01 percent  year on year in August 2021, 0.37 percent below 17.38 percent recorded in August 2020, according to the CPI report for the month released on Wednesday by the National Bureau of Statistics (NBS).   The Abuja […]

CBN eyes international financial hub to usher investments into Nigeria

CBN eyes international financial hub to usher investments into Nigeria

The Central Bank of Nigeria (CBN) is set to establish the Nigerian International Financial Centre (NIFC) by September 2022, a development it explained would be driven by technology and payment infrastructure to pave a gateway for funds and investments into the country.   Godwin Emefiele, CBN governor, made the disclosure at the 14th annual banking […]

Minister criticises CBN over neglect of solid minerals sector

Minister criticises CBN over neglect of solid minerals sector

Uche Ogah, minister of state for mines and steel development, has accused the Central Bank of Nigeria (CBN) of failing to support the development of the mines and solid minerals sector like the agricultural industry which has in recent times, received financial backing from the apex bank.   Ogah made the allegation during a two-day […]

Bauchi commissioner calls for revamped nomadic education to curb banditry 

Bauchi commissioner calls for revamped nomadic education to curb banditry 

An intensified focus and improvement in Nigeria’s nomadic education system will play a significant role in curbing the worrisome cases of banditry and kidnapping in Nigeria.   Aliyu Tilde, Bauchi State commissioner for education highlighted this in a statement addressing the rising spate of banditry and kidnapping ravaging the country.   According to Tilde, nomadic […]

Agriculture still pulling weight in Katsina with N13bn revenue 

Agriculture still pulling weight in Katsina with N13bn revenue 

  Sector resilient amid insecurity challenges   The Katsina State government has announced that agricultural entrepreneurs in the state have generated N13 billion across the various value chains of the sector, while the state government accrued N393 million revenue from taxes and levies in the sector despite the bandit attacks and other insecurity challenges faced […]

ACCI organises committee to address controversial NITDA bill

ACCI organises committee to address controversial NITDA bill

The Abuja Chamber of Commerce and Industry (ACCI), has set up an eight-member  working committee headed by Segun Olugbile, executive chairman of Continental Project Affairs Associates (CPAA) Limited, to review and address the position of business stakeholders on the National Information Technology Development Agency (NITDA) amendment bill on digital economy.   This followed a consultation […]

NDDC hands former head office building to Rivers government

NDDC hands former head office building to Rivers government

  Spent 16 years renting offices at N38.4bn     The Niger Delta Development Commission (NDDC), now fully settled in its 13-storey headquarters complex on Eastern Bypass area of Port Harcourt, has handed over the keys to its former headquarters building, ‘Harold Dappa Biriye House’, on Aba Road, Port Harcourt, to the Rivers State government, […]

Anambra looks to oil revenue as Buhari approves petroleum-bearing state status

Anambra looks to oil revenue as Buhari approves petroleum-bearing state status

Anambra State is eagerly looking to boost its revenues from the potential windfalls from its new status as petroleum bearing state after President Muhammadu Buhari officially signed off on an earlier Federation Account Allocation Committee confirmation of the same to Governor Willie Obiano.   President Buhari’s approval was conveyed in a letter to Governor Obiano […]